Aurion Resources Ltd.

Aurion Resources — Investor Presentation (January 2022)

35 slides from Aurion Resources's investor presentation, January 2022

  1. Slide 1: Discovering the Next Major Gold Camp

    DISCOVERING THE NEXT MAJOR GOLD CAMP Corporate Presentation AURION RESOURCES LTD. January 2022 TSXV: AU; OTCQX: AIRRF TSXV: AU OTCQX: AIRRF

  2. Slide 2: Forward-Looking Information

    Forward-Looking Information This presentation may contain "forward-looking information" (as defined in applicable Canadian securities legislation). Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect",

  3. Slide 3: Discovering the Next Major Gold Camp

    Discovering the Next Major Gold Camp High-Grade: 789 g/t over 2.9 m; Exceptional Footprint: 8,500+ District Scale: 1,000 km2 Top 10 holes avg 355 g*m samples averaging 6.0 g/t Au Majors Invested: Kinross, Top Jurisdiction: Finland Cheap Relative Valuation Newmont Goldcorp and B2Gold TSXV: AU OTCQX:

  4. Slide 4: Ownership and Capital Structure

    Ownership and Capital Structure ▪ 117.6 M shares / 7.785 M options/ 1.62 M broker warrants ▪ Market Cap: ~C$152.8 M (As of Jan 4, 2022) ▪ Well-Funded: ▪ Working Capital ~C$10.7 M as of September 30, 2021 ▪ Closed C$16.7 M financing on Nov 25, 2021 Eric Sprott TSXV: AU OTCQX: AIRRF 4

  5. Slide 5: Expensive to Cheap – Despite Continued Success

    Expensive to Cheap – Despite Continued Success Sept 7, 2017 – Kinross Investment July 10, 2019 – Eric Sprott Investment Oct 25 – New Discovery on JV Property Sept 18, 2018 – Hole 42: 789 g/t Au over 2.9 m Today Feb 1, 2017 – Boulder Discovery TSXV: AU OTCQX: AIRRF 5

  6. Slide 6: Opportunity – Closing the Valuation Gap

    Opportunity – Closing the Valuation Gap Compared to high-grade, pre-resource peers, Aurion trades at a discount ▪ Large land package ▪ High-grade gold ▪ Orogenic system ▪ Safe jurisdiction ▪ Tight share count Share Price (C$) $28.61 $9.45 $5.70 $0.40 $0.37 $1.30 $1.70 $0.33 $1.29 $0.94 $1.15 Basic S

  7. Slide 7: Rupert’s 4 Million Ounce Ikkari Discovery

    Rupert’s 4 Million Ounce Ikkari Discovery ▪ New Discovery: 3.95 Moz inferred resource proved up in approximately 18 months May 12, 2020 – Ikkari Discovery • 1.8 g/t Au over 137 m ▪ Headline Intercepts: 4.40 g/t Au over 188 m, 4.20 g/t Au over 167 m, and 4.30 g/t Au over 158 m ▪ Structure and geology

  8. Slide 8: JV with B2Gold – New Discovery Along Kutuvuoma-Ikkari Corridor

    JV with B2Gold – New Discovery Along Kutuvuoma-Ikkari Corridor ▪ 1.84 g/t Au over 52.4 m from 85.3 m ▪ Including 2.61 g/t Au over 21.2 m and 2.42 g/t Au over 10.3m ▪ 1.42 g/t Au over 30.6 m from 34.2 m ▪ Including 2.94 g/t over 6.45 m ▪ Drilled 1.2 km to 1.5 km along strike, west of Rupert’s 3.95 Mo

  9. Slide 9: Finland – A Top Jurisdiction for Exploration and Mining with Untapped Potential

    Finland – A Top Jurisdiction for Exploration and Mining with Untapped Potential Total Resources of the known orogenic Size comparison of the CLGB to Norseman-Wiluna, gold deposits in greenstone belts Abitibi, and Zimbabwe Craton greenstone belts Zimbabwe Craton ~40Moz Norseman – Wiluna ~75Moz Abitib

  10. Slide 10: Timmins 110 years ago – Finland 5 years ago

    Timmins 110 years ago – Finland 5 years ago TSXV: AU OTCQX: AIRRF 10

  11. Slide 11: First Mover Advantage – District Scale Land Position

    First Mover Advantage – District Scale Land Position Interests in ~1,000 km2 of land in the Central Lapland Greenstone Belt ▪ Risti (100%): ~160 km2 ▪ Launi (100%): ~140 km2 ▪ B2Gold JV: ~385 km2 ▪ Kutuvuoma-Ikkari, Sinermä, Kuortis, Ahvenjarvi ▪ Kinross JV: ~53 km2 ▪ Strategic Resources: 16% owners

  12. Slide 12: Emerging Gold Camp – Over 20 Discoveries Since 2016

    Emerging Gold Camp – Over 20 Discoveries Since 2016 Pre 2016 Today Pahtavaara Pahtavaara Kutuvuoma Kutuvuoma Ikkari Aamurusko Aurion 100 % owned properties B2Gold JV property TSXV: AU OTCQX: AIRRF 12

  13. Slide 13: Methodical Approach to Proving The Next Major Gold Camp

    Methodical Approach to Proving The Next Major Gold Camp Gold camp on multiple discoveries Aamurusko Kutuvuoma Hinge Zone Kaaresselkä Kutuvuoma-Ikkari CDZ Outa Niligap Notches Sinermä YNOT NE corridor Risti NW Ahvenjärvi Launi East Naakena A2 Kiekerömaa Launi West Kuiva 100% Aurion JVs TSXV: AU OTCQX

  14. Slide 14: Risti & Launi – Extensive Surface Footprint – 8,500 samples at ~6.0 g/t Au

    Risti & Launi – Extensive Surface Footprint – 8,500 samples at ~6.0 g/t Au ▪ Analogous in size and geology to major gold camps 25 million oz ~ 5 km Timmins Main: 100 plus years of deep drilling and mining to depths > 2 km have produced > 72 million ounces of gold ~ 6 km TSXV: AU OTCQX: AIRRF 14

  15. Slide 15: Risti & Launi – Extensive Surface Footprint – 8,500 samples at ~6.0 g/t Au

    Risti & Launi – Extensive Surface Footprint – 8,500 samples at ~6.0 g/t Au Ikkari ▪ Analogous in size and geology to major gold camps Aamurusko 25 million oz ~ 5 km Timmins Main: 100 plus years of deep drilling and mining to depths > 2 km have produced > 72 million ounces of gold ~ 6 km TSXV: AU OTC

  16. Slide 16: Risti – Aamurusko – Drilled Multiple Zones of Near-Surface Gold Mineralization

    Risti – Aamurusko – Drilled Multiple Zones of Near-Surface Gold Mineralization Aamurusko NW Gap Zone Aamurusko Main ▪ 9.42 g/t Au over 28.22 m ▪ 4.64 g/t Au over 3.10 m ▪ 789.06 g/t Au over 2.90 m ▪ 23.41 g/t Au over 11.10 m ▪ 1.69 g/t Au over 7.75 m ▪ 42.28 g/t Au over 4.00 m ▪ 6.84 g/t Au over 19.

  17. Slide 17: Risti – Aamurusko Multiple Targets for Expansion

    Risti – Aamurusko Multiple Targets for Expansion NW Gap Zone Main 80% of all holes drilled at Aamurusko have intersected gold exceeding 1.0 g/t Au, 51% of drill holes over 3.0 g/t Au, 31% over 10.0 g/t Au TSXV: AU OTCQX: AIRRF 17

  18. Slide 18: Risti – Aamurusko Multiple Targets for Expansion

    Risti – Aamurusko Multiple Targets for Expansion TSXV: AU OTCQX: AIRRF 18

  19. Slide 19: Launi East – First Exploration in 2019 – Several Prospects Discovered

    Launi East – First Exploration in 2019 – Several Prospects Discovered 63.9 g/t Au / 0.37 m 3.05 g/t Au / 5.30 m TSXV: AU OTCQX: AIRRF 19

  20. Slide 20: Risti & Launi – Regional Potential

    Risti & Launi – Regional Potential ▪ Tens of kms of prospective structural trends to be explored ▪ A number of gold in till anomalies identified in previously unexplored areas. ▪ Gold in till anomalies encountered within several geologic settings including volcanic, sedimentary and intrusion related

  21. Slide 21: JV with B2Gold – Multiple Discoveries

    JV with B2Gold – Multiple Discoveries ▪ Large land package ~331 km2 ▪ Multiple gold prospects ▪ JV: B2Gold 70%, Aurion 30% ▪ B2Gold option to earn up to 75% ▪ Aurion free carried until 75% ▪ 2021: C$ 6 M incl. 5,000 m of drilling ▪ Focus on Kutuvuoma-Ikkari corridor Kutuvuoma-Ikkari corridor: ▪ High

  22. Slide 22: Value From Multiple Opportunities

    Value From Multiple Opportunities Kinross JV Kinross JV • Northern extension of Hanhimaa Shear • Numerous gold showings Strategic Strategic Resources Resources • 16% ownership • Vanadium development projects • Part of Lumina Group B2Gold JV • New discovery: 1.84 g/t Au over 52.4 m • Two discoveries

  23. Slide 23: Management and Board – Technical and Capital Market Experience

    Management and Board – Technical and Capital Market Experience Chairman – David Lotan, CPA, CA ▪ President of LHI, an investment company focused on natural resource opportunities ▪ Founder and CEO of the Polar Structured Products – sold to major Canadian Financial Institution ▪ Portfolio manager for

  24. Slide 24: Creating Value Through M&A

    Creating Value Through M&A ▪ A significant amount of value has been created for shareholders of drill bit stories ▪ The return on invested capital (exploration dollars spent) to shareholders has been about 10x in advanced exploration companies Pre-Resource Precedent Acquisitions Deal Deal Premium Go

  25. Slide 25: Creating Value Through M&A

    Creating Value Through M&A ▪ A significant amount of value has been created for shareholders of drill bit stories ▪ The return on invested capital (exploration dollars spent) to shareholders has been about 10x in advanced exploration companies Precedent Transactions Deal Deal Exploration Project Val

  26. Slide 26: Multiple Bidders – Shareholders Win

    Multiple Bidders – Shareholders Win Shandong Acquisition of Cardinal Resources • Mar 16, 2020: Receives non-binding bid for A$0.45775 per share from Nord Gold • Jun 18, 2020: Receives All-Cash offer by Shandong for A$0.60 per share • Jan 13, 2021: Shandong acquires Cardinal for A$1.075 per share Tot

  27. Slide 27: Aurion Resources - Discovering the Next Major Gold Camp

    Aurion Resources - Discovering the Next Major Gold Camp District Scale Near-Surface High-Grade Gold Aligned Management + + = TSXV: AU OTCQX: AIRRF 27

  28. Slide 28: Appendices

    Appendices TSXV: AU OTCQX: AIRRF

  29. Slide 29: Aurion-B2Gold JV – New Discovery Along Kutuvuoma-Ikkari Corridor

    Aurion-B2Gold JV – New Discovery Along Kutuvuoma-Ikkari Corridor TSXV: AU OTCQX: AIRRF 29

  30. Slide 30: Aurion-B2Gold JV – New Discovery Along Kutuvuoma-Ikkari Corridor

    Aurion-B2Gold JV – New Discovery Along Kutuvuoma-Ikkari Corridor 2.1 g/t Au 3.1 g/t Au 1.3 g/t Au 4.1 g/t Au 2.5 g/t Au TSXV: AU OTCQX: AIRRF 30

  31. Slide 31: Risti – Aamurusko Drilling – 2021 Phase 1

    Risti – Aamurusko Drilling – 2021 Phase 1 • Gold mineralization extended to the northeast at Aamurusko NW • Broad zone of gold mineralization intersected in gabbro • New Gold Setting – Conglomerate hosted gold mineralization intersected in previously untested area • Confirmation and extension of gol

  32. Slide 32: Risti – Aamurusko Main – Gold in Multiple Host Rocks

    Risti – Aamurusko Main – Gold in Multiple Host Rocks Plan view Long section TSXV: AU OTCQX: AIRRF 32

  33. Slide 33: Risti – Aamurusko Drilling 2021 – Parallel Gold Bearing Structures

    Risti – Aamurusko Drilling 2021 – Parallel Gold Bearing Structures Gold in quartz veins clastic sediments and along sheared contact between sediment and gabbro Gold in altered, veined and sulphide disseminated gabbro Gold in altered, veined and sulphide disseminated gabbro TSXV: AU OTCQX: AIRRF 33

  34. Slide 34: Risti – Aamurusko Drilling 2021 – NW Extensions

    Risti – Aamurusko Drilling 2021 – NW Extensions TSXV: AU OTCQX: AIRRF 34

  35. Slide 35: For Further Information Visit: www.aurionresources.com

    For Further Information Visit: www.aurionresources.com Contact: info@aurionresources.ca TSXV: AU OTCQX: AIRRF

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