KINROSS TERMINATES OPTION AGREEMENT FOR LAUNI EAST PROPERTY

• Kinross Gold Corporation terminated its option agreement to acquire a 70% interest in Aurion's Launi East Property on May 19, 2026.
• Aurion Resources Ltd. retains 100% ownership of the Launi East Property following termination.
• Kinross is obligated to transfer all technical data generated during its option period (totaling over USD $2,000,000 in expenditures) to Aurion within 45 days.
• This announcement occurred after the definitive agreement for Agnico Eagle Mines Limited to acquire Aurion was announced on April 20, 2026.

• The termination of the Kinross option is an administrative cleanup item occurring during an active M&A process and does not materially alter the transaction value or shareholder payout.
• Shareholders are receiving C$2.60 per share in cash from Agnico Eagle; this specific asset status change does not affect the all-cash consideration.
• The stock price has already priced in the acquisition premium, trading at $2.57-$2.58 against a $2.60 offer (approx. 1% spread), indicating high confidence in deal completion.
• This news is expected within an M&A timeline where non-core options are often terminated or consolidated prior to closing; it does not introduce new upside or downside risk relative to the primary transaction.

• Flagship Project: Risti Property in northern Finland, specifically the Kaaresselkä/Vanha prospect.
• Exploration Status: High-grade gold intercepts extending mineralized system to >1.4 km strike length and ≥250 m depth.
• Metallurgy: Confirmed free-milling gold with recoveries of 93–100% in bottle-roll leach tests.
• Other Assets: Launi East (Option terminated), Launi West, Sila, Naakena, Savu properties; all exploration stage.