Aurania Announces Closing of Private Placement

Aurania Resources Ltd. has closed the second and final tranche of its non-brokered private placement offering. The final tranche comprised 3,213,172 units sold at C$0.18 per unit, yielding C$578,370.96 in gross proceeds. Cumulative gross proceeds from both tranches total C$1,256,634.72, representing the issuance of 6,981,304 units in total.

The first tranche consisted of 3,768,132 units sold for C$678,263.76 in gross proceeds. Each unit in the offering consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of C$0.35, exercisable for 24 months following issuance.

The company intends to use the proceeds primarily for exploration at the Thor's Valley epithermal gold project in Iceland, the Balangero nickel-cobalt tailings retreatment project in Italy, and for general working capital. The closing is subject to TSX Venture Exchange final approval. All securities are subject to a four-month plus one-day hold period commencing on the closing date of the respective tranche. Securities have not been registered under the U.S. Securities Act and may not be offered or sold in the United States except in compliance with registration requirements or applicable exemptions.