Aurion Resources — Investor Presentation (March 2025)
39 slides from Aurion Resources's investor presentation, March 2025
Slide 1: Discovering the Next Major Gold Camp
TSXV: AU; OTCQX: AIRRF DISCOVERING THE NEXT MAJOR GOLD CAMP Corporate Presentation March 2025
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",
Slide 3: Discovering the Next Major Gold Camp
Discovering the Next Major Gold Camp Emerging Gold Camp Multiple Value Drivers District scale land package Joint Ventures with B2Gold and Kinross Prospective geology New discoveries on wholly owned properties Multiple new discoveries Tier 1 Jurisdiction Positioned to Execute Finland consistently ran
Slide 4: Creating Value Through New Discoveries and Partnerships
Creating Value Through 100%-Owned Risti ➢ Aamurusko – 789.00 g/t Au over 2.90 m Property ➢ Kaaresselkä – 2.38 g/t Au over 56.55 m New Discoveries JV with B2 Gold ➢ Helmi – 2.05 g/t Au over 77.50 m Properties ➢ Vuoma – 28.64 g/t Au over 4.90 m JV with B2 Gold ➢ 70% B2Gold / 30% Aurion Joint Venture P
Slide 5: Ownership and Capital Structure
Ownership and Capital Structure ▪ 148.9 M shares / 9.46 M options/ 1.45 M broker warrants ▪ Market Cap: ~C$101.2 M (As of Mar 7, 2025) ▪ Well-Funded: ▪ Working Capital ~C$9.59 M as of Sep 30, 2024 Major Shareholders: Analyst Coverage: Eric Sprott 5
Slide 6: Finland – A Top Jurisdiction with Untapped Potential
Finland – A Top Jurisdiction 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 Abitibi ~85Moz Central Lapland <1
Slide 7: Finland – Like Discovering Timmins 110 Years Ago
Finland – Like Discovering Timmins 110 Years Ago 7
Slide 8: Value From Multiple Opportunities
Value From Multiple Opportunities B2Gold JV • Helmi discovery: 2.05 g/t Au over 77.5 m • Multiple gold prospects • Next to the 4+ Moz Ikkari deposit by Rupert Resources Risti and Launi West • 100% ownership • High-grade, near surface discoveries • Multiple gold prospects Kinross Earn-in - Launi East
Slide 9: Emerging Gold Camp – Over 20 Discoveries Since 2016
Emerging Gold Camp – Over 20 Discoveries Since 2016 Pre 2016 Today Kutuvuoma Pahtavaara Kutuvuoma Pahtavaara Ikkari Helmi Aamurusko Vuoma Kaaresselkä Aurion 100 % owned properties Aurion-B2Gold JV property Kinross Option 9
Slide 10: Joint Venture – B2Gold
Joint Venture – B2Gold
Slide 11: JV with B2Gold – Multiple Discoveries
JV with B2Gold – Multiple Discoveries Sore 26.45 g/t Au / 2.45 m 1.74 g/t Au / 14.10 m 1.05 g/t Au / 40.70 m ▪ JV: B2Gold 70%, Aurion 30% 1.33 g/t Au / 17.90 m Kettukuusikko 4.33 g/t Au / 20.4 m ▪ Large land package ~293 km2 1.25 g/t Au / 31.4 m Sinermä 0.54 g/t Au / 40.2 m ▪ Multiple discoveries: 1
Slide 12: Rupert Resources - US$1.7 Billion Ikkari Project
Rupert Resources - US$1.7 Billion Ikkari Project May 12, 2020 – Ikkari Discovery ▪ Reserves and Resources: 3.49 Moz Proven and Probable Reserves, within 4.09 Moz Indicated Resources plus 0.136 Moz Inferred Resource (Feb 14, 2025) ▪ Prefeasibility Study: After-Tax NPV(5%) of US$1.68 B and IRR of 38%
Slide 13: JV with B2Gold – Helmi Discovery
JV with B2Gold – Helmi Discovery 13
Slide 14: JV with B2Gold – Helmi Discovery
JV with B2Gold – Helmi Discovery Ikkari (Rupert Resources Ltd.) 3.49 Moz Probable Reserve PFS: After-tax NPV(5%) US$1.7B, IRR of 38% at US$2,150/oz Au (PR February 18, 2025) Helmi 2.05 g/t Au / 77.50 m 2.44 g/t Au / 43.45 m 1.44 g/t Au / 67.20 m 1.84 g/t Au / 52.40 m ▪ Discovered in late 2021 Highli
Slide 15: JV with B2Gold – Kms of Prospective Structural Corridors
JV with B2Gold – Kms of Prospective Structural Corridors Sore 26.45 g/t Au / 2.45 m Ikkari (Rupert Resources Ltd.) 1.74 g/t Au / 14.10 m 3.49 Moz Probable Reserve 1.05 g/t Au / 40.70 m PFS: After-tax NPV(5%) US$1.7B, Kutuvuoma IRR of 38% at US$2,150/oz Au Kettukuusikko 16.47 g/t Au / 11.00 m (PR Feb
Slide 16: 100% Property: Risti
Gqmi@eMee 100% Property: Risti
Slide 17: Gold Mineralization Controlled by Structures
Gold Mineralization Controlled by Structures Sore 26.45 g/t Au / 2.45 m 1.74 g/t Au / 14.10 m 1.05 g/t Au / 40.70 m 1.33 g/t Au / 17.90 m Kettukuusikko 4.33 g/t Au / 20.4 m 1.25 g/t Au / 31.4 m Sinermä 0.54 g/t Au / 40.2 m 1.07 g/t Au / 42.4 m (Trench) Kutuvuoma 16.47 g/t Au / 11.0 m 11.37 g/t Au /
Slide 18: Risti Property – 100% Aurion – Multiple Discoveries
Risti Property – 100% Aurion – Multiple Discoveries Ikkari (Rupert Resources Ltd.) 3.49 Moz Probable Reserve PFS: After-tax NPV(5%) US$1.7B, IRR of 38% at US$2,150/oz Au (PR February 18, 2025) Planned Open Pit Helmi 2.05 g/t Au / 77.50 m 2.44 g/t Au / 43.45 m 1.44 g/t Au / 67.20 m Aamurusko Main: 78
Slide 19: Risti Property – Rock and Base of Till Samples
Risti Property – Rock and Base of Till Samples Ikkari (Rupert Resources Ltd.) 3.49 Moz Probable Reserve PFS: After-tax NPV(5%) US$1.7B, IRR of 38% at US$2,150/oz Au (PR February 18, 2025) Planned Open Pit Helmi 2.05 g/t Au / 77.50 m 2.44 g/t Au / 43.45 m 1.44 g/t Au / 67.20 m Aurion- Risti Property
Slide 20: Risti – Kaares, Vanha – Growing Mineralized System
Risti – Kaares, Vanha – Growing Mineralized System Press release Sep 9, 2024 Press release Jan 13, 2025 Press release Feb 24, 2025 Vanha Prospect, 2022-2025 drilling: ▪ 29/30 drill holes (6,750 m) intersected gold including: ▪ 2.38 g/t Au / 56.55 m (KS22027) ▪ 7.92 g/t Au / 13.60 m (KS25097) ▪ 31.90
Slide 21: Risti – Kaares – Mineralized System Open For Growth
Risti – Kaares – Mineralized System Open For Growth Kaares 2022-2025 drilling: 7.92 g/t Au / 13.60 m 2.38 g/t Au / 56.55 m incl. 57.60 g/t Au / 1.00 m 7.92 g/t Au / 13.60 m 31.90 g/t Au / 3.10 m 72.40 g/t Au / 0.85 m 8.08 g/t Au / 6.75 m 2.96 g/t Au / 16.25 m 3.63 g/t Au / 11.35 m 8.11 g/t Au / 4.30
Slide 22: Risti – Kaares, Vanha – Mineralization Style
Risti – Kaares, Vanha – Mineralization Style Mineralization at Kaares resembles Helmi (Aurion-B2Gold JV) and Kaares Ikkari (Rupert Resources) discoveries. 24.3 g/t Au 8.08 g/t Au over 6.75 m from 186.95 m 11.4 g/t Au Helmi (Aurion –B2Gold JV) 4.1 g/t Au 22
Slide 23: Risti – Kaares, Vanha – Mineralization Style
Risti – Kaares, Vanha – Mineralization Style 7.92 g/t Au over 13.60 m from 162.10 m including 57.60 g/t Au over 1.00 m from 168.35 m 23
Slide 24: Risti Property – Generative Programs in 2024
Risti Property – Generative Programs in 2024 Ikkari (Rupert Resources Ltd.) 3.49 Moz Probable Reserve PFS: After-tax NPV(5%) US$1.7B, IRR of 38% at US$2,150/oz Au (PR February 18, 2025) Planned Open Pit Risti Property Helmi 2.05 g/t Au / 77.50 m Aamurusko Main: 2.44 g/t Au / 43.45 m 1.44 g/t Au / 67
Slide 25: Risti – Aamurusko
Aamurusko NW. Gap Zone Aamurusko Main . . © 9.42 g/t Au over 28.22 m 4.64 g/t Au over 3.10m 789.06 g/t Au over 2.90m Risti _- Aamurusko = 23.41¢/t Au over 11.10m 1.69 g/t Au over 7.75m © 42.28 g/tAu over 4.00m = 6.84 g/t Auover 19.00 m 8.63 g/t Au over 0.75 m 24.50 g/t Au over 4.75 m 1.55 g/t Au ove
Slide 26: Risti – Aamurusko
Risti – Aamurusko ▪ 80% of holes intersected over 1.0 g/t Au ▪ 51% of holes intersected over 3.0 g/t Au ▪ 31% of holes intersected over 10.0 g/t Au 1 km 26
Slide 27: Management and Board
Management and Board Chairman – David Lotan, CPA, CA ▪ President of LHI, an investment company focused on natural resource opportunities ▪ Founder and CEO of the Polar Structured Products – sold to major Canadian Financial Institution ▪ Portfolio manager for the Ontario Teachers’ Pension Plan CEO an
Slide 28: Opportunity – Closing the Valuation Gap
Opportunity – Closing the Valuation Gap Compared to peers Aurion trades at a discount ▪ Early-stage exploration ▪ Large land package ▪ High-grade gold ▪ Established mining jurisdiction Share Share PricePrice (C$) (C$) $7.63 $7.15 $4.54 $4.59 $2.96 $2.91 $2.93 $2.96 $5.43 $2.57 $2.49 $5.24 $3.32 $3.3
Slide 29: Aurion Resources Emerging Gold Camp Multiple Value Drivers
Aurion Resources Emerging Gold Camp Multiple Value Drivers Tier 1 Jurisdiction Positioned to Execute 29
Slide 30: Appendices
Appendices
Slide 31: Exploration is Volatile – TSXV: a 30 year Perspective
Exploration is Volatile – TSXV: a 30 year Perspective Source: Stockwatch 31
Slide 32: Necessity....
Necessity.... Market Loss 1 Week After Bad News Source: Tradingview, Stockwatch and S&P Capital IQ 32
Slide 33: Producers are Acquiring
Producers are Acquiring M&A Transactions Since 2016 ▪ CAD$79.1B of Deals ▪ CAD$783M Average Source: GoldDiscovery.com 33
Slide 34: New Discoveries Generate Outsized Returns
New Discoveries Generate Outsized Returns 34
Slide 35: New Discoveries Generate Outsized Returns
New Discoveries Generate Outsized Returns 35
Slide 36: 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
Slide 37: 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
Slide 38: 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
Slide 39: For Further Information Visit: www.aurionresources.com
For Further Information Visit: www.aurionresources.com Or Contact: msantarossa@aurionresources.ca
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