ST. JOHN’S, NL, Oct. 28, 2021 /CNW/ – Aurion Resources Ltd. (TSX VENTURE: AU) (OTCQX: AIRRF) (“Aurion” or the “Company”) reports that it has signed a formal definitive option agreement with B2Gold Corp. (TSX: BTO, NYSE MKT: BTG); (“B2Gold”) granting B2Gold the right to earn up to an undivided 75% interest in the 53 km2, Kuortis Property, which is located approximately 25 km south of Agnico-Eagle’s Kittilä Mine and adjacent to the existing JV property with B2Gold.
Figures associated with this release can be viewed at the Company’s website: https://aurionresources.com/site/assets/files/1403/nr21-17figures.pdf.
Under the terms of the agreement B2Gold can earn a 51% undivided interest in the Kuortis Property by incurring a minimum of CAD$750,000 in exploration expenditures on or before the second anniversary of the agreement dated October 26, 2021; incurring exploration expenditures not less than CAD$1,750,000 on or before the fifth anniversary of the agreement date; and by issuing 25,000 B2Gold shares to Aurion.
B2Gold can acquire an additional 24% undivided interest in the Property by completing the first option; issuing an additional 25,000 B2Gold shares; and incurring an additional CAD$2,500,000 in exploration expenditures on or before the fifth anniversary.
“We are pleased to join forces with B2Gold’s world-class exploration team on another project,” commented Matti Talikka, Aurion’s CEO. “The Kuortis property is located adjacent to the existing JV property with B2Gold and further expands the land position in the vicinity of the crustal scale Sirkka Shear Zone that is considered to play a significant role in the development of gold mineralization within the Central Lapland Greenstone Belt including the recent significant discoveries by the Aurion-B2Gold JV and Rupert Resources.”
About Aurion Resources Ltd.
Aurion Resources Ltd. (Aurion) is a well-funded, Canadian exploration company listed on the TSX Venture Exchange (TSX-V: AU) and the OTCQX Best Market (OTCQX: AIRRF). Aurion’s strategy is to generate or acquire early-stage precious metals exploration opportunities and advance them through direct exploration by our experienced team or by business partnerships and joint venture arrangements. Aurion’s current focus is exploring on its Flagship Risti and Launi projects, as well as advancing its joint venture properties with B2Gold Corp. in Finland.
On behalf of the Board of Directors,
Matti Talikka, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.