Aurania obtains new exploration permits in France

Executive Summary

• Aurania Resources Ltd. has secured three new exploration licenses for polymetallic metals (including gold, antimony, tungsten, tin, zinc, and copper) in the Brittany Peninsula of northwestern France through a wholly owned French subsidiary.
• The licenses cover the South Armorican shear zone, an area with a long history of metal production but no exploration since the 1980s, positioning it as a prospective greenfield district for strategic metals.
• Initial mining inventory studies by the French Geological Survey (BRGM) confirmed the presence of gold associated with strategic metals over more than 150 km along the shear zone, with some exceptional grades.

Key Details

• Licenses Granted: Three new exploration permits were granted to Aurania's French subsidiary.
• License Names and Area:
  • Epona: Filed in 2023.
  • Taranis: Submitted in October 2023, covering 359.5 square kilometres.
  • Belenos: Submitted in October 2023, covering 440.9 square kilometres.
• Location: Southern Brittany and northern Pays de la Loire, France.
• Target Metals: Polymetallic deposits including gold, antimony, tungsten, tin, zinc, copper, and byproducts such as indium.
• Geological Context:
  • The permits target the South Armorican shear zone, a major crustal fault.
  • BRGM studies indicate mineralization of antimony, tungsten, tin, zinc, and copper accompanied by gold.
  • Gold is found associated with strategic metals, enhancing economic potential.
  • The area is comparable to the Iberian Peninsula, Bohemian Massif, and Newfoundland (Variscan terranes).
  • No exploration has occurred in the region since the 1980s, leaving significant potential unexplored.
• Strategic Importance:
  • Aligns with the European Union's Critical Raw Materials Act (aiming for 10% of metal supply from within Europe by 2030).
  • Supports French government initiatives to secure domestic metal supplies following the Varin report.
• Next Steps:
  • Stakeholder engagement with local landowners.
  • Advancing preparations for an airborne geophysical survey.
  • Subsequent field activities.
• Qualified Person: Jean-Paul Pallier, MSc, Vice-President, Exploration (Designated EurGeol, Qualified Person under NI 43-101).

Notable Quotes

• Dr. Keith Barron, President and CEO: "The French government's decision to grant us these permits is an excellent opportunity for Brittany and the Pays de la Loire to gain a deeper understanding of their subsurface resources and for France to find new sources of metals to secure the country's supplies through exploration to be conducted by company."
• Dr. Keith Barron, President and CEO: "It also marks a new opportunity for Aurania in a jurisdiction where institutional stability and high-quality infrastructure make exploration safe and more efficient than other areas in the world."
• Dr. Keith Barron, President and CEO: "The initial mining inventory studies conducted by the French Geological Survey (BRGM) confirmed the presence of gold associated with strategic metals over more than 150 km along the shear zone, and in some cases at exceptional grades. This demonstrates the strength of the hydrothermal activity that occurred in the region."