Aurion Resources Ltd.

Aurion Resources — Investor Presentation (August 2024)

34 slides from Aurion Resources's investor presentation, August 2024

  1. Slide 1: Discovering the Next Major Gold Camp

    TSXV: AU; OTCQX: AIRRF DISCOVERING THE NEXT MAJOR GOLD CAMP Corporate Presentation August 2024

  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 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

  4. Slide 4: Creating Value Through New Discoveries

    Creating Value Through 100%-Owned Risti ➢ Aamurusko – 789.00 g/t Au over 2.90 m Property ➢ Kaaresselkä – 2.41 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

  5. Slide 5: Ownership and Capital Structure

    Ownership and Capital Structure ▪ 148.9 M shares / 9.01 M options/ 1.45 M broker warrants ▪ Market Cap: ~C$74.4 M (As of Aug 7, 2024) ▪ Well-Funded: ▪ Working Capital ~C$5.23 M as of Mar 31, 2024 ▪ Closed Financing for ~C$9 M on Aug 7, 2024 Major Shareholders: Analyst Coverage: Eric Sprott 5

  6. 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

  7. Slide 7: Finland – Like Discovering Timmins 110 Years Ago

    Finland – Like Discovering Timmins 110 Years Ago 7

  8. 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

  9. 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

  10. Slide 10: Joint Venture – B2Gold

    Joint Venture – B2Gold

  11. 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

  12. Slide 12: Rupert Resources - US$1.6 Billion Ikkari Project

    Rupert Resources - US$1.6 Billion Ikkari Project May 12, 2020 – Ikkari Discovery ▪ Resource: 4.09 Moz Indicated Resource, 0.136 Moz Inferred Resource (Nov 28, 2023) ▪ PEA Study: After-Tax NPV(5%) of US$1.6 B and IRR of 46% using a US$1,650/oz gold price with initial capex of US$404 M (Nov 28, 2022)

  13. Slide 13: JV with B2Gold – Helmi Discovery

    JV with B2Gold – Helmi Discovery Ikkari (Rupert Resources Ltd.) 4.09 Moz Indicated Resource 0.136 Moz Inferred Resource (PR November 28, 2023) PEA: After-tax NPV(5%) US$1.6B, IRR of 46% at US$1,650/oz Au (PR November 28, 2022) 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

  14. Slide 14: 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 1.74 g/t Au / 14.10 m 1.05 g/t Au / 40.70 m Ikkari (Rupert Resources Ltd.) 4.09 Moz Indicated Resource Kettukuusikko Kutuvuoma 0.136 Moz Inferred Resource 4.33 g/t Au / 20.4 m 16.47 g/t Au / 11.00 m (PR November 28,

  15. Slide 15: 100% Property: Risti

    ‘age 100% Property: Risti

  16. Slide 16: 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 /

  17. Slide 17: Risti Property – 100% Aurion – Multiple Discoveries

    Risti Property – 100% Aurion – Multiple Discoveries Ikkari (Rupert Resources Ltd.) 4.09 Moz Indicated Resource 0.136 Moz Inferred Resource (PR November 28, 2023) PEA: After-tax NPV(5%) US$1.6B, IRR of 46% at US$1,650/oz Au (PR November 28, 2022) Planned Open Pit Helmi 2.05 g/t Au / 77.50 m 2.44 g/t

  18. Slide 18: Risti – Rock and Base of Till Samples

    Risti – Rock and Base of Till Samples ▪ Over 8,500 rock samples averaging ~ 6 g/t Au ▪ Numerous Au in till anomalies ▪ Tens of kms of prospective structural trends Helmi ▪ Key methods in discovery of Ikkari (Rupert Resources), Kittilä (Agnico Eagle) and Vuoma Sakatti (Anglo American) ▪ 20 targets id

  19. Slide 19: Risti Property – Kaaresselkä

    Risti Property – Kaaresselkä Ikkari (Rupert Resources Ltd.) 4.09 Moz Indicated Resource 0.136 Moz Inferred Resource (PR November 28, 2023) PEA: After-tax NPV(5%) US$1.6B, IRR of 46% at US$1,650/oz Au (PR November 28, 2022) Planned Open Pit Helmi 2.05 g/t Au / 77.50 m 2.44 g/t Au / 43.45 m 1.44 g/t A

  20. Slide 20: Risti – Kaares, Vanha Prospect

    Risti – Kaares, Vanha Prospect Kaaresselkä Helmi 24.3 g/t Au 4.1 g/t Au 11.4 g/t Au 20

  21. Slide 21: Risti – Kaares – Growing Mineralized System

    Risti – Kaares – Growing Mineralized System Vanha Prospect, 2022-2023 drilling: ▪ 15/16 holes intersected gold mineralization ▪ 2.41 g/t Au over 56.55 m (KS22027) ▪ 1.22 g/t Au over 19.90 m (KS22029) ▪ 2.27 g/t Au over 11.30 m (KS22029) ▪ 8.25 g/t Au over 4.30 m (KS23034) ▪ 3.68 g/t Au over 11.35 m

  22. Slide 22: Risti – Kaares – Growing Mineralized System

    Risti – Kaares – Growing Mineralized System 22

  23. Slide 23: Risti – Aamurusko

    Risti - Aamurusko Aamurusko NW Gap Zone Aamurusko Main 4.64 g/t Au over 3.10m 789.06 g/t Au over 2.90 m 1.69 g/t Au over 7.75m 42.28 g/t Au over 4.00 m 8.63 g/t Au over 0.75 m 24.50 g/t Au over 4.75 m 1.55 g/t Au over 3.45m 22.63 g/t Au over 3.53 m = 9.42 g/t Au over 28.22 m = 23.41g/t Au over 11.10

  24. Slide 24: 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 24

  25. Slide 25: 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

  26. Slide 26: 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 Price (C$) $3.50 $3.38 $3.98 $2.34 $0.07 $1.82 $1.37 $2.23 $1.74 $0.08 $0.50 $0.58 $0.24 Basic Shares O/S (M)

  27. Slide 27: Aurion Resources Emerging Gold Camp Multiple Value Drivers

    Aurion Resources Emerging Gold Camp Multiple Value Drivers Tier 1 Jurisdiction Positioned to Execute 27

  28. Slide 28: Appendices

    Appendices

  29. Slide 29: New Discoveries Generate Outsized Returns

    New Discoveries Generate Outsized Returns 29

  30. Slide 30: New Discoveries Generate Outsized Returns

    New Discoveries Generate Outsized Returns 30

  31. Slide 31: 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

  32. Slide 32: 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

  33. Slide 33: 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

  34. Slide 34: For Further Information Visit: www.aurionresources.com

    For Further Information Visit: www.aurionresources.com Or Contact: msantarossa@aurionresources.ca

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