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Aurion Options Outa Project in Finland to Kinross
Aurion Options Outa Project in Finland to Kinross Canada NewsWire ST. JOHN'S, Fe...
About this update from Aurion Resources Ltd.
[{"type":"text","content":"\n\n\n\nAurion Options Outa Project in Finland to Kinross\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nST. JOHN'S, Feb. 15, 2018\n\n\n\nST. JOHN'S, Feb. 15, 2018 /CNW/ - Aurion Resources Ltd. (\"Aurion\" or the \"Company\") (TSX VENTURE: \"AU\") is pleased to report that it has signed a non-binding letter of intent (\"LOI\") with Kinross Gold Corporation (\"Kinross\") giving Kinross the right to earn up to 70% of the Outa project.\n\n\n \n \n\n \nThe DealUnder the terms of the LOI Kinross must spend US$5 million over 5 years to earn a 70% interest in the project.  Kinross has agreed to complete a firm US$1 million exploration expenditure over the first two years.  The transaction is subject to Kinross completing its due diligence investigations, the requisite corporate approvals of each party and the execution of a definitive agreement..  The definitive agreement is currently being negotiated and drafted.\n\nThe ProjectThe Outa project covers approximately 15,000 ha in the Central Lapland Greenstone Belt (\"CLGB\") of Northern Finland.  It is primarily underlain by meta-sedimentary rocks (polymictic conglomerates and quartzites) of the Kumpu Group in a setting similar to Aurion's Risti project.  Aurion acquired the project following the discovery of the Aamurusko gold prospect in late 2016.  A map can be found at the following link, https://aurionresources.com/site/assets/files/1240/nr150218figures.pdf. \n\nMike Basha commented, \"We are pleased to be furthering our relationship with Kinross by advancing the Outa project with them.  This is a further endorsement of our exploration strategy in the CLGB.  Optioning some of our approximately 200,000 ha portfolio allows us to focus our resources on Risti and Aamurusko, while having partners like Kinross advance other projects\".\n\nAurion also announces that the Board has approved the granting of 1,892,370 stock options to directors, officers, employees and consultants priced at $1.10 per share.  In accordance with the Company's stock option plan, the stock o...