Aurania Announces Non-Brokered Private Placement of up to $1.5 Million

Aurania Resources announced a non-brokered private placement on November 20, 2025, to raise up to $1.5 million. The offering consists of up to 12.5 million units priced at $0.12 each. Every unit includes one common share and one full common share purchase warrant, exercisable at $0.25 for 24 months. The proceeds are designated for a preliminary economic assessment (PEA) on the Balangero tailings project in Italy, other exploration programs, and general working capital. The financing is subject to TSXV approval, and participation from insiders is expected.

This financing is a direct and necessary consequence of the company's recent strategic pivot. On October 30, 2025, Aurania announced the suspension of all activities at its flagship Lost Cities-Cutucu project in Ecuador due to an untenable new annual mining service fee of US$24.1 million. This was a material negative event, effectively writing off the company's primary asset and the focus of years of exploration.

In that context, this new financing is a routine but positive development. It is positive because it provides the essential capital for the company to survive and begin executing its new strategy focused on European projects, specifically advancing the Balangero tailings project in Italy, for which an MOU was signed on October 28, 2025. Without this capital, the company's ability to continue as a going concern would be in immediate jeopardy.

However, the impact is not material. The financing is small and conducted at a price of $0.12, which is near the company's 52-week low and reflects its distressed situation. This is the second financing at this price level in three months (the first being in August 2025), indicating no improvement in market valuation despite the strategic pivot. The offering will be highly dilutive to existing shareholders.

Therefore, the news is a small positive step for operational continuity but underscores the company's precarious financial position and high-risk profile. It keeps the lights on and allows the new story to begin, but it does not fundamentally de-risk the investment.

Aurania Resources Ltd. is a junior mineral exploration company. Historically, its flagship asset was the large Lost Cities-Cutucu gold-copper-silver project in southeastern Ecuador.

As of October 30, 2025, the company has suspended all activities in Ecuador due to the imposition of an unsustainable US$24.1 million annual mining fee by the government. The company has now pivoted its focus to Europe. Its new lead project is the Balangero tailings retreatment project in Italy, which aims to recover nickel, cobalt, and other metals. The company also holds early-stage exploration interests in France. This represents a complete strategic reset for the company.