Toronto, Ontario (March 15, 2017) – Aurania Resources Ltd. (TSXV: ARU) (“Aurania” or the “Corporation”) is pleased to announce, further to its news release dated March 2, 2017 of its proposed acquisition (the “Transaction”) of EcuaSolidus SA (“ESA”), that it will offer, on a brokered and non-brokered basis, 3,000,000 subscription receipts of the Corporation (the “Subscription Receipts”) by way of a private placement subject to all required regulatory approvals at a price of C$2.00 per Subscription Receipt (the “Issue Price”) for total gross proceeds of C$6,000,000 (collectively, the “Offering”).

The Board of Directors of Aurania Resources Ltd. (the “Company” or “Aurania”) has granted stock options (“Options”) today, to certain officers and directors. These stock options are exercisable for an aggregate of 415,000 Common Shares, at an exercise price of $0.60 per Common Share for a period of five years from the date of grant. The Options vest as to one-third (?) on the date of grant, one-third (?) on the first anniversary of the date of grant and one-third (?) on the second anniversary of the date of grant.