Exploration Update Webcast & Conference Call

November 26, 2021

Keith Barron, CEO, & Richard Spencer, President
Forward Looking Statements

This presentation contains or incorporates by reference “forward-looking statements” and “forward-looking information” (collectively, “forward-looking
statements”) within the meaning of applicable Canadian securities legislation and applicable U.S. securities laws concerning the Company’s plans for its
properties, operations and other matters. Except for statements of historical fact relating to the Company, certain statements contained herein or
incorporated by reference constitute forward-looking statements including, but not limited to, statements regarding the projections contained in the
Company’s Technical Report (as defined below), financing sources available to continue to explore the Company’s Lost Cities – Cutucú Project, the future
financial or operating performance of the Company and its properties and projects, the supply and demand for metals, government regulation of mining
operations, political uncertainties, the ability of the Company to obtain all government approvals, permits and third party consents in connection with the
Company’s exploration, development and operating activities, accidents and labour disputes, future anticipated and current exploration programs and
expenditures, exploration results, the potential discovery and delineation of mineral deposits/resources/reserves, proposed business plans, the potential
impact of COVID-19 on the Company, anticipated business trends and metal prices, and may relate to analyses and other information that are based on
forecasts of future results, general business and economic conditions, estimates of amounts not yet determinable and assumptions of management. Any
statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future
events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not
anticipate”, “plans”, “estimates”, “believes”, “proposed”, “intends” or “does not intend”, or stating that certain actions, events or results “may”,
“could”, “would”, “might” or “will” be, or not be, taken, occur or be or not be achieved) are not statements of fact and may be forward-looking
statements.
Forward-looking statements are subject to a variety of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual
events or results to differ materially and adversely from those reflected in the forward-looking statements. These risks are described or referred to under
the heading “Risk Factors” in the annual information form of the Company dated May 5, 2021 for the year ended December 31, 2020 and under the heading
“Risk and Uncertainties” in the management’s discussion and analysis of consolidated results of operations and financial condition dated April 22, 2021 for
the year ended December 31, 2020. Should one or more of the risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual
results may vary materially and adversely from those described in the forward-looking statements. Forward-looking statements are made based on
management’s beliefs, estimates, assumptions and opinions on the date the statements are made and, other than as required by applicable law, the
Company undertakes no obligation to update the forward-looking statements if these beliefs, estimates, assumptions and opinions or other circumstances
should change. Investors are cautioned against attributing undue certainty or weight to forward-looking statements.
Readers are also cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation,
may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company’s actual results, programs and
financial position could differ materially from those expressed in or implied by these forward-looking statements, and accordingly, no assurance can be
given that the events anticipated by the forward-looking statements will transpire or occur, or that, if any of them do so, what benefits the Company will
derive therefrom.
The technical information contained in this presentation has been verified and approved by Aurania’s VP Exploration, Jean Paul Pallier, a designated
EurGeol by the European Federation of Geologists and "Qualified Person" for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral
Projects of the Canadian Securities Administrators.

TSXV:ARU OTCQB:AUIAF FRANKFURT:20Q 2

Exploration for Gold, Copper & Silver
Ecuador
▪ 100% interest in the Lost Cities – Cutucú Project (the “Project”)
▪ The Project is 207,764Ha and is located in Cordillera de Cutucú in southeastern Ecuador
The Project ▪ 42 mineral exploration concessions
▪ Geological similarities of the Project to that of the Cordillera del Cóndor in the south, which hosts
major gold and copper deposits

▪ Scout drilling is an integral part of Aurania’s exploration program due to the large size of the Project’s
Drill Program concession area, combined with difficult access to the dense jungle-covered mountainous terrain
▪ A scout drilling program is progressing on high priority targets in Ecuador using two drill rigs; ~15,000m
Underway drilled, 35 holes
▪ The drill program is being complemented through a MobileMT geophysical survey

▪ Advance to scout drilling as each target is identified

▪ Regional exploration continues in parallel and is undertaken by different exploration teams
▪ Current exploration & drilling is advancing on four exploration styles:
̶ Epithermal gold-silver;
Intrusive-related (porphyry & IOCG) copper;
Exploration ̶
̶ Sedimentary-hosted copper-silver; and
Strategy & Targets ̶ Carbonate-replacement silver-zinc
▪ In 2021, exploration drilling intersected:
̶ Sediment-hosted copper-silver; and
̶ Silver-zinc in carbonates
▪ Next step is to demonstrate continuity & vector towards higher-grade areas of the mineralized system

▪ Dr. Keith Barron, Chairman & CEO

Experienced ̶ Holds ~39% of total shares outstanding
▪ Richard Spencer, President & Director
Management & ▪ Warren Gilman, Independent Director
Board ▪ Nathalie Han, Independent Director
▪ Jonathan Kagan, Independent Director

TSXV:ARU OTCQB:AUIAF FRANKFURT:20Q 3

Ecuador: An Exploration Hot-Spot
SolGold’s Cascabel
Supportive, mining-friendly copper-gold deposit

government in place under Codelco’s

Pres. Guillermo Lasso Llurimagua copper Colombia
porphyry

Ecuador
Adventus’ gold-
copper
Curipamba VMS
deposit

Dundee’s Loma
Larga gold- Peru
silver deposit

Next Slide
Lumina’s
Cangrejos gold
deposit

TSXV:ARU OTCQB:AUIAF FRANKFURT:20Q 4

Southeastern Ecuador: An Emerging Mineral Belt

Ecuador
Aurania’s
concession block is
207,764Ha

San Carlos-Panantza (Tongling–CRCC)

Warintza (Solaris)
Tarqui (Lumina-BHP)
Gamora (Lundin-Newcrest)
Mirador Norte (Tongling - CRCC)
Mirador (Tongling – CRCC) – copper -
in production
Fruta del Norte (Lundin) –
Aurania’s gold - in production
concession block Jackpot (Lundin-Newcrest)
Cascas (Luminex)
Gold Porvenir (SolGold)
Gold-Copper
Copper Peru
Copper-Moly

TSXV:ARU OTCQB:AUIAF FRANKFURT:20Q 5

Key Targets in Ecuador

Rig 2: Tiria-Shimpia
Silver-zinc

Tatasham
(copper-gold)

Rig 1: Tsenken N1
Copper-silver Next
Slide

Latorre C – Aurania’s large

KuriYawi
property in Ecuador
Gold-silver
is 207,764Ha (~0.5M
acres)

TSXV:ARU OTCQB:AUIAF FRANKFURT:20Q 6

Update on the Lost Cities

Huapula

Kilamope

TSXV:ARU OTCQB:AUIAF FRANKFURT:20Q 7

Tiria-Shimpia Silver-Zinc Target
4 holes completed to date
Drill Results:
Hole 3: 29m at 3.5g/t silver & 0.6% zinc with 5m @ 10.5g/t silver & 2.5% zinc
Hole 4: Results awaited

Silver Zinc

TSXV:ARU OTCQB:AUIAF FRANKFURT:20Q

Exploration: Sediment-hosted Mineralization

Prof. Gregor Borg completed his third visit to site in November 2021:
• Prof. Borg is a specialist in sediment-hosted copper, zinc and lead
• Evaporites, salt and “salt tracks” (collapse breccias)
• Evidence of faults moving during sedimentation (talus breccia)

TSXV:ARU OTCQB:AUIAF FRANKFURT:20Q 9

Sediment-hosted Copper

Fragments
press into
each other –
had a cheese-
like
consistency
when the
breccia
formed
adjacent to a
fault that was
moving during
sedimentation

Moving faults constitute

pumps that move the
fluids – some of which “IP” breccia
contain metals
Irish porter cheese
TSXV:ARU OTCQB:AUIAF FRANKFURT:20Q 10
Evaporite as a Source of Sulphur

Layered, gypsum
Spotty gypsum (calcium sulphate)
growths (calcium – bearing evaporite
sulphate) and salt that formed in
crystals that would salar.
have formed on the Good source of
drier edges of the sulphur for metals
salar. from fluids to form
sulphides.

TSN1-008 TSN1-007
TSXV:ARU OTCQB:AUIAF FRANKFURT:20Q 11
Tracing Evaporite Footprint

TSN1-007 TSN1-007 TSN1-008 TSN1-006

Anhydrite-gypsum Collapse breccia Collapse breccia Intact salt

spots without gypsum with gypsum
TSN1-007
TSN1-008
Salt has escaped
TSXV:ARU OTCQB:AUIAF FRANKFURT:20Q 12
Sediment-hosted Copper-Silver Target: Tsenken

West East
TSN1- TSN1- TSN1- TSN1- TSN1- TSN1- TSN1- Depth of
007 008 002 001 003 006 009 weathering
Lava
Tiria-Shimpia seal
1,000m
target
projected
onto this
profile
500m

Pyrite zone

Sea level
Copper mineralization target
at same position in
Pyrite zone
sedimentary layering as silver-
Copper target zinc at Tiria-Shimpia
Collapse breccia
Evaporite (salt & sulphates) Porphyry 1km
Red-bed (volcanic sandstone)
Mudstone (shale)
Limestone
TSXV:ARU OTCQB:AUIAF FRANKFURT:20Q 13
Tatasham Target – Porphyry?

Grey is MVI magnetics,

colour is MobileMT (warm Profile
colours are conductive
areas
Magnetic
body – Conductive
Plan
porphyry?

Profile line Magnetic body coincides with a

resistive zone near surface,
flanked by a shallow conductive
zone to the west, and one with
greater depth extent to the
east.

TSXV:ARU OTCQB:AUIAF FRANKFURT:20Q 14

Awacha Target: Another Porphyry?
Geochemistry & Geophysics

Blue is 3D magnetic
inversion & pink is 3D
conductivity inversion
model

Target 1 Target 2

TSXV:ARU OTCQB:AUIAF FRANKFURT:20Q 15

Epithermal Gold-Silver – Latorre C Target

Main target
area beneath
sinter

TSXV:ARU OTCQB:AUIAF FRANKFURT:20Q 16

Health & Safety: Aurania COVID Stats for 2021*

COVID Infections 2021

7

0
2021-Q1 2021-Q2 2021-Q3 2021-Q4 to Date

Total infection rate from onset: 24/44 = 55%

*In Ecuador

TSXV:ARU OTCQB:AUIAF FRANKFURT:20Q 17

Contact

Corporate Office Social Media

36 Toronto Street, Suite 1050 @AuraniaLtd

Toronto, ON M5C 2C5, Canada
(416) 367-3200
[email protected] @AuraniaLtd

Dr. Keith Barron, CEO and Chairman

[email protected] Aurania Resources
Dr. Richard Spencer, President and Director
[email protected]

Tony Wood, Chief Financial Officer

[email protected] Watch our video series!
www.aurania.com
Carolyn Muir, VP Investor Relations
[email protected]

TSXV:ARU OTCQB:AUIAF FRANKFURT:20Q 18