Precious & Critical Metals Explorer Focused on Most Prospective Targets at Ecuador Property

Noble Capital Markets commented in a research report that junior mining explorer Aurania Resources Ltd. is presently zeroing in on the most immediate high potential targets at The Lost Cities-Cutucu Project. Noble rates Aurania an "Outperform" as the company's exploration program is delivering an abundance of drilling targets for a variety of metals and offers potential for multiple new discoveries across its large concession package.

Senior Natural Resources Research Analyst, Mark Reichman of Noble Capital Markets Inc., commented in an August 27 research note that junior mining explorer Aurania Resources Ltd. (ARU:TSX.V; AUIAF:OTCQB) is now "zeroing in on the most immediate high potential targets" at The Lost Cities-Cutucu project located in southeastern Ecuador.

The analyst noted that Aurania Resources has identified a new epithermal gold-silver target in proximity of the Kuri-Yawi target and listed that results from soil samples yielded up to 0.56 g/t Au over a 0.67 sq. km area.

Noble Capital Markets indicated that the company has finished drilling six holes at its Tsenken N1 copper-silver target with one additional hole, Hole TSN1-007, still in process. Nobel said it expects Aurania to drill a total of 10 holes at Tsenken N1.

The company has also completed drilling two holes at the Tiria-Shimpia silver-zinc target with a third hole now in progress. The firm is currently awaiting assay results from Hole SH-002. Noble Capital expects Aurania to continue exploration activity at Tiria-Shimpia and Tsenken N1, but it is foreseeable that the company may move a drill to the Latorre C target later this year.

The analyst mentioned that the Tiria-Shimpia target seems to offer the biggest opportunity for new discoveries and pointed out that the company reported previously that it plans to mobilize additional resources there. The report listed that silver-zinc-lead deposits with associated barite have been traced for more than 22 km at Tiria-Shimpia. Aurania's management further believes that the Tsenken and Tiria-Shimpia sites may indeed be part of the same copper-zinc dominated mineralized system that extends for 45 km.

Senior Analyst Reichman remarked that "Aurania's exploration program is providing an abundance of drilling targets for a variety of metals and the potential to make multiple discoveries in its large concession package."

Aurania Resources Ltd. is a junior mining exploration company that is headquartered in Toronto, Ont. and is focused primarily on acquiring, exploring, and developing precious metals and copper properties. Aurania's "flagship asset" called The Lost Cities-Cutucu project, which is located in Morona-Santiago, Ecuador, includes 42 mineral exploration concessions that cover an area of around 208,000 hectares, or roughly 2,080 sq. km. The company also has several smaller projects in Switzerland.

Noble Capital Markets Inc. advised that it has an "Outperform" rating for Aurania Resources Ltd. with a target price of US$3.50 per share. The firm's shares trade on the OTCQB Venture Market under the symbol "AUIAF" and last closed for trading at US$2.17 per share on August 27, 2021.

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