Toronto, Ontario, March 5, 2018 – Aurania Resources Ltd. (TSXV: ARU) (“Aurania” or the “Company”) announces that it has created an Advisory Committee and is pleased that Mr. Alfred Lenarciak has joined the Company as an independent Special Advisor to the Board of Directors. The Company’s intention is to include Mr. Lenarciak on its slate of directors for the forthcoming Annual and General Meeting scheduled to be held on April 25, 2018. The Company also granted an aggregate of 250,000 stock options to Mr. Lenarciak and members of the management team.
Aurania’s founder and CEO, Dr. Keith Barron commented, “We are delighted to have Alfred back in the resource industry – to spend some time away from his varied and colourful pursuits that include unearthing original 16th century manuscripts and, together with his wife, rebuilding her ancestral estate that dates from 11th century, in southern Italy. We are truly honoured to have a member of the Saint Sylvester Order of the Vatican, and author of 6 published books, serve our shareholders and our Company.”
Mr. Lenarciak has over 25 years experience in the financing and strategic development of resource companies in North and South America, Africa, Europe and Asia. Mr. Lenarciak started his career as a civil and mining engineer in 1975. In 1983, he studied finance at the University of Quebec and worked in investment banking in the junior mining industry until 1990. He was then retained by the World Bank to oversee the privatization of the mining industry in Poland. Between 1992 and 2014, Mr. Lenarciak served on the board of directors of more than a dozen TSX-listed companies including Williams Resources, Minorca Resources Inc, Dayton Mining, McWatters Mining Inc, Unigold Inc. and Centurion Minerals.
Advisory Committee to the Company’s Board of Directors
Mr. Lenarciak and the Company’s President, Dr. Richard Spencer, have been appointed to serve on an advisory committee to the Company’s board of directors until August 31, 2018.
Stock Option Grant
Aurania has granted an aggregate total of 250,000 stock options to Mr. Lenarciak and two other members of its management team. The stock options have a five-year term and an exercise price of $2.89, corresponding to the closing price of the Company’s stock on the TSX Venture Exchange on March 02, 2018. These options comply with the Company’s standard option practice with one third of the options vesting on the date of grant and one third vesting on each of the first and second anniversaries of the date of grant.
Aurania is a junior exploration mining company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper. Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.