Aurania’s President Dr. Richard Spencer, discusses the company’s recent financing, exploration & drilling plans at its flagship project: The Lost Cities – Cutucu Project, local community involvement, and the Ecuadorian Government’s cooperation with the mining industry.
Aurania is pleased to announce that it intends to complete a non-brokered private placement financing of up to 2,000,000 units (the “Units”) at a price of $2.00 per Unit, for total gross proceeds of up to $4,000,000 (the “Offering”). Each Unit will consist of one common share of the Company (a “Common Share”) and one-half Common Share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder to purchase one Common Share at an exercise price of $3.00 for a period of 18 months following closing of the Offering.
Aurania is pleased to report the discovery of a new epithermal zone some eight kilometres south of the “Crunchy Hill” area (See Press Release dated April 6, 2018). The new discovery, named “Yawi” means “thermal spring” or “area with hot water” in the local Shuar language.
Aurania announces that it has closed a US$2.0 million convertible debenture financing with Dr. Keith Barron, the Company’s Chairman, CEO and largest shareholder. The funds from the Debenture enable the Company to maintain the full 2,080 square kilometre (“km2”) concession package that constitutes the Lost Cities – Cutucu Project in Ecuador.
In this video episode, we follow the conquistador trail from the town of Riobamba to the town of Macas in southeastern Ecuador, as described in the historical documents found in the Vatican Library. The present day town of Macas is on the edge of Aurania’s Lost Cities – Cutucu project concession area.
In early 2018, Aurania Resources was approached by VICE News to film a short news segment focusing on gold exploration in Ecuador. VICE News sent their top team down to Ecuador in March to spend ten days in the field with Aurania’s management and exploration teams to capture the real story behind the search for The Lost Cities. The segment aired on HBO in mid-April 2018 and was posted to news.vice.com along with two bonus videos.
Aurania reports that reconnaissance exploration crews have found silica blocks indicative of an entirely new epithermal system, the “Charip” target, some 50 kilometres (30 miles) north of the Latorre area in its Lost Cities – Cutucu Project (the “Project”) in southeastern Ecuador. In addition, the Company has received soil geochemistry results that refine the Crunchy Hill target and move it a step closer to drill-testing.
Aurania reports that the video documentary program from VICE News Tonight about Aurania’s Lost Cities – Cutucu Project is now available online via the following link: https://news.vice.com/en_us/article/d35kmj/meet-the-real-life-indiana-jones-hunting-for-gold-in-the-amazon . VICE News Tonight released an article entitled “Meet the real-life Indiana Jones hunting for gold in the Amazon” along with the video clip from their program which aired last week on the Home Box Office (“HBO”) channel. The program follows Aurania’s Chairman and CEO, Dr. Keith Barron and team through challenging conditions in the jungles and streams in their exploration of the Lost Cities – Cutucu project in southeastern Ecuador. See bonus footage of interviews with Aurania’s ‘reconnaissance exploration geologists’.
Aurania reports that extensive coverage was given to the Company in a documentary entitled “Ecuador’s Lost Cities of Gold” on a news program called “VICE News Tonight” on the Home Box Office (“HBO”) channel which aired last night, April 11, 2018. A team from VICE News Tonight made a ten-day site visit to the Company’s Lost Cities – Cutucu Project area in Ecuador in March and spent time filming with our crews in the field. The field visit to Aurania’s project area was funded by HBO and VICE News. HBO informs us that a link to the online version of this program will be made available in approximately one week, at which time the Company will press release the link.
Aurania announces that the Company has renewed its full 2,080 square kilometre (“km2”) concession package in Ecuador based on the positive exploration results received to date. The Company will enter into a US$2.0 million unsecured convertible debenture with its Chairman and CEO, Dr. Keith Barron, to cover the concession renewal fees. Aurania’s board has determined that a convertible debenture with an exercise price higher than current market prices would be less dilutive to existing shareholders than a private placement at the current share price.
Aurania Resources Ltd.
36 Toronto St, Suite 1050
Phone: (416) 367-3200
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