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.
SOURCE Aurion Resources Ltd.