Aurion notes KoBold begins exploration at Risti

Executive Summary

• Aurion Resources announces that KoBold Metals has begun an extensive base‑of‑till and bedrock chip sampling program over ~35 km of the eastern Risti property in northern Finland.
• The parties signed a critical‑mineral exploration agreement (March 19 2025) under which KoBold can earn up to a 75 % interest by spending US$12 M within five years, with an initial US$1 M commitment within 18 months.
• Aurion will act as field operator for the first 12 months and retains full ownership of any gold‑ or silver‑dominant discoveries; drilling continues at the Vanha prospect.

Key Details

• Project Area: ~35 km of the eastern portion of Aurion’s 160 km² wholly owned Risti property, central Lapland greenstone belt, Finland.
• Exploration Method: Base‑of‑till and bedrock chip sampling – a key technique for gold and critical mineral discoveries (e.g., Ikkari, Sakatti).
• Agreement Terms (signed 19 Mar 2025):
• Earn‑in: KoBold may earn an undivided 75 % interest in any non‑gold/silver commodities discovered by incurring US$12 M of exploration expenditures on or before the fifth anniversary of the agreement.
• Initial Commitment: KoBold must spend a minimum of US$1 M within the first 18 months.
• Joint Venture Formation: Upon meeting earn‑in requirements, a JV will be created with KoBold holding 75 % and Aurion 25 %.
• Net Smelter Return (NSR) Royalty: If KoBold’s ownership falls below 10 %, it converts to a 2 % NSR royalty.
• Aurion Rights: Retains full ownership of any gold‑ or silver‑dominant discoveries; may continue exploration in those zones throughout earn‑in and JV phases while holding an interest.
• Field Operator Role: Aurion will serve as field operator for the first 12 months of the program.
• Current Drilling Activity: Ongoing drilling at the Vanha prospect within the Kaaresselka area.

Notable Quotes

“We are excited to commence the exploration activities with KoBold's highly knowledgeable and innovative team,” said Matti Talikka, CEO of Aurion Resources Ltd. “The extensive sampling program will generate valuable data for gold and critical minerals exploration and utilizes a key method applied in the discovery process of all significant deposits in the region…”