Toronto – Aurelius Minerals Inc. (TSXV: AUL) (OTCQB: AURQF) (the “Company” or “Aurelius”) announces that it intends to complete a non-brokered private placement consisting of (i) common shares of the Company at a price of $0.10 per common share and common shares that will qualify as “flow-through shares” (as defined in subsection 66(15) of the Income Tax Act (Canada) (“Flow-Through Shares”) at a price of $0.12 by flow-through share.
The total gross proceeds of the Offering will amount to $1.25 million. The Company has received conditional approval for the offer, subject to completion no later than September 9, 2022, unless another extension is granted by the TSXV. This new press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities law and may not be offered or sold in United States or to, or for the account or for the benefit of WE persons (as defined in Regulation S of the 1933 Act) without such registration or an applicable exemption from such registration requirements. The net proceeds from the sale of Common Shares will be used by the Company for corporate and general working capital purposes, and an amount equal to the gross proceeds from the sale of Flow-Through Shares will be used to incur eligible ‘Exploration in Canada’. within the meaning of the Income Tax Act (Canada) related to the Company’s Canadian properties, no later than December 31, 2023. The Partnership will waive to purchasers of Flow-Through Shares these Canadian exploration expenses with an effective date no later than December 31, 2022.
Aurelius is a well-positioned gold exploration company focused on advancing its recently acquired and rebranded company Aureus Gold Propertiesincluding East and West Aureus, the Tangier Gold Project and the Forest Hill Gold Project situated in New Scotland and described in detail in the Company’s press release from November 18, 2019. Aurelius is also focused on advancing two district-scale gold projects in the Abitibi greenstone belt in Ontario, Canada, one of the most prolific mining districts in the world; the 968 hectare Mikwam property, in the Burntbush area on the Casa Berardi trend and the 12,425 hectare Lipton property, on the Lower Detour trend. The Company has a management team experienced in all facets of the mineral exploration and mining industry who will consider additional acquisitions of late-stage opportunities in New ScotlandAbitibi and other troubled mining districts.
Mark NJ Ashcroft
Tel: (416) 304-9095
Email: [email protected]
Caution Regarding Forward-Looking Information
This press release contains “forward-looking information” under the provisions of applicable Canadian securities laws, regarding the business, operations and financial performance and condition of Aurelius. All statements contained in this press release, other than statements of historical fact, are “forward-looking information” regarding Aurelius within the meaning of applicable securities laws, including statements regarding the Company’s completion of the Offer. on the terms described herein or in the aggregate, the use of the proceeds of the Offering, the drilling and exploration activities planned by the Company, the anticipated benefits of the Acquisition and the development of the Aureus Gold Properties, the future price of gold, the estimate of mineral resources, the achievement of mineral resource estimates, the success of exploration activities, permit delays, exchange rate fluctuations, additional capital requirements , government regulation of mining operations, environmental hazards, unforeseen reclamation expenses, litigation or title claims, and limitations on insurance coverage. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is planned”, “budget”, “expected”, “estimates”, ” forecasts”, “intends”, “anticipates”, “believes”, or variations or comparable language of such words and phrases or statements that certain actions, events or results “could”, “could”, “might ‘, ‘should’, ‘could’ or ‘will be taken’, ‘will occur’ or ‘will be carried out’ or their negative connotation. Forward-looking information is necessarily based on a number of factors and assumptions which, if incorrect, could cause Aurelius’ actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these statements. These statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Aurelius will operate in the future, including the price of gold, expected costs and the ability to achieve objectives. Certain important factors that could cause actual results, performance or achievements to differ materially from those set forth in the forward-looking information include, among others, gold price volatility, mining operations and development risks. , litigation risks, regulatory restrictions (including environmental regulatory restrictions and liability), changes in national and local government laws, taxation, controls or regulations and/or changes in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in Canada, delays, suspension and technical challenges associated with projects, rising prices of fuel, steel, electricity, labor and other consumables, currency fluctuations, the nature speculative gold exploration, global economic climate, dilution, stock price volatility, competition, loss of key employees, additional financing requirements and defective title to mining claims or property. Although Aurelius believes that its expectations are based on reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking information, there may be other factors that cause actions, events or results not to be as expected, estimated or intended. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves. Inferred Mineral Resources are based on limited drilling, which suggests the greatest uncertainty for a resource estimate and that geological continuity is only implied. Additional drilling will be required to verify geological continuity and mineralization and it is reasonable that most of the Inferred Mineral Resources can be upgraded to Indicated Mineral Resources. The Company provides forward-looking information for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Aurelius are materially different from those expressed or implied by such forward-looking statements. , including, but not limited to: risks related to difficulties in executing exploration programs at Mikwam, Lipton and Aureus Gold Properties on Company’s proposed schedules and in its cost and schedule estimates, whether due to weather conditions, availability or interruption of electrical power, mechanical equipment performance issues, natural disasters or pandemics in the areas in which it operates; integration of the acquisition; risks related to current global financial conditions, including the market reaction to the coronavirus outbreak; competition within the industry; actual results of ongoing exploration activities; environmental risks; changes in project parameters as plans continue to be refined; future price of gold; failure of plant, equipment or processes to perform as intended; risks associated with the development and operation of the mine; accidents, labor disputes and other hazards of the mining industry; delays in obtaining approvals or funding; the risks associated with indebtedness and the servicing of such indebtedness, as well as the factors, risks and uncertainties identified and disclosed in the public documents filed by Aurelius under Aurelius’ SEDAR profile at www.sedar.com. Although Aurelius has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking information, there may be other factors that cause actions, events or results are not those anticipated, estimated or intended. . Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. Aurelius disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.