Gold and Copper Exploration in Ecuador Forward Looking Statements - PowerPoint PPT Presentation

Gold and Copper Exploration in Ecuador

Forward Looking Statements This presentation contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania’s future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this presentation includes, but is not limited to, Aurania’s company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the company’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure or inability to complete the Transaction on the terms as proposed, failure to obtain the required approvals of the Aurania’s shareholders and regulators, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate the indigenous communities, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in Aurania’s public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this presentation are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this presentation, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. The technical information contained in this presentation has been verified and approved by Aurania's Chief Geologist, 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. 2018-01-17 TSXV:ARU 2

Investment Highlights Pe People – Multiple prior discoveries in Ecuador – CEO Keith Barron responsible for discovering Fruta del Norte epithermal gold/silver deposit – President Richard Spencer led teams responsible for discovery of San Carlos, Panantza, Mirador porphyry copper and Loma Larga gold deposits Ju Jurisdiction: Ecuador – Government moving towards mining for economic growth Th The Lost Cities – Cu Cutucu Pr Project – Favourable geological setting – Along trend of major gold-copper discoveries – Proprietary historical information provides unique insight 2018-01-17 TSXV:ARU 3

Board of Directors Ke Keith Ba Barron Ph.D. CE CEO an and Ch Chairman Elaine El El Ellingham M.Sc., MBA, P.Geo. Director Di Richard Sp Ri Spencer Ph.D., P.Geo., C.Geol. Pr President an and Di Director Gerald Ha Ge Harper Ph.D., P.Geo. Di Director Ma Marvin Ka Kaiser Retired CFO Di Director 4 TSXV:ARU

Management Ke Keith Ba Barron Jean Pa Je Paul Pa Pallier Ph.D. M.Sc., EurGeol. CE CEO an and Ch Chairman VP VP-Ex Exploration Richard Sp Ri Spencer Donna Mc Do McLean Ph.D., P.Geo, C.Geol. B.A. President an Pr and Di Director CF CFO Monica Os Mo Ospina Carolyn Mu Ca Muir M.Sc. B. Sc Sc. Head of He of CS CSR Manager – In Ma Investor Se Services 5 TSXV:ARU

Capital Structure Debt De ARU US$1MM deferred payment relating to 27,335,625 acquisition of Ecuasolidus S.A. 1,600,445 (corporate entity in which the Lost Cities - Cutucu concessions are held) 2,315,000 31,251,070 Co Condit itions 4.40 Due date: May 29, 2018 • 120MM 2% Annual interest rate • 2018-01-17 TSXV:ARU 6

Corporate Snapshot Re Recent Financing Options Op April 2017 1.7MM 415K 150K 430K C$2.00 C$0.40 $C0.60 C$2.30 C$2.00 3,200,890 April, 2018 July, 2021 May, 2022 Nov, 2022 1,816,745 Shareh Sha reholder B r Base C$3.00 Oct, 2018 1yr Sha hare Pric ice Ot Others 39% 39 Ins Insiders 61% 61 2018-01-17 TSXV:ARU 7

The Opportunity • Management discovered mines along-trend • Concession area never systematically explored with modern techniques • Proprietary historical information • Ecuador: a pro-mining jurisdiction • Excellent potential for world class deposits 2018-01-17 TSXV:ARU 8

People Dr. Keith Barron Ph.D • Aurania’s CEO and Chairman • Exploration geologist with over 33 years experience in the mining sector • 2003 discovered Fruta del Norte gold- silver deposit - sold for $1.2 B • Awarded 2008 Thayer Lindsley International Discovery Award • Named the Northern Miner’s 2008 Mining Man of the Y ear 2018-01-17 TSXV:ARU 9

People Dr. Richard Spencer Ph.D., P.Geo., C.Geol. • Aurania’s President and Director • Lived in Ecuador for 10 years • Led Gencor’s exploration team in discovery of porphyry district: • 24 billion lbs copper • 4 million oz gold • Discovered Loma Larga epithermal gold – silver deposit for Iamgold • 3 million oz gold • 27 million oz silver 2018-01-17 TSXV:ARU 10

Jurisdiction Ecuador: Government Investment Pangui Health Clinic Los Encuentros School Government spent US $136 million on infrastructure near future mines – partially funded with advanced royalties. Ecuadorian law stipulates that 60% of royalties from mining go to local communities. 2018-01-17 TSXV:ARU 11

Jurisdiction Ecuador: Exploration Hotspot 4/6 1 ECUADOR 2 2 3 2 5 7 5 2018-01-17 TSXV:ARU 12

Jurisdiction Multiple Deposits Being Development Mi Mines Under Construction Ad Advanced Exploration and Re Resource Definition Fruta del Norte (Gold-Silver) • Lundin Gold; Santa Barbara (Gold-Copper) Lumina • Gold; San Carlos & Mirador (Copper • and Copper-Gold) China National Cangrejos (Gold-Copper) Lumina Gold; • Rail; Cascabel (Copper-Gold) SolGold; • Loma Larga (Gold-Silver-Copper) • INV Metals; Llurimagua (Copper) Codelco; • 2018-01-17 TSXV:ARU 13

Project Nambija, Ecuador Nambija is one of Ecuador’s Lost Cities rediscovered in 1981 2018-01-17 TSXV:ARU 14

Project Sevilla del Oro, Ecuador 1628 Text “Sevilla del Oro is the richest mine in the Indies” 2018-01-17 TSXV:ARU 15

Project Historic Timeline: The Lost Cities Last attempt to restore Logro ñ o destroyed and Logro ñ o to the Crown re-established. Sevilla del Keith Barron Oro founded. discovers Fruta del Logro ñ o destroyed Norte gold deposit 1564 4 157 575/ 5/157 576 1582 2 1594 4 1605 5 1616 2003 2006 2016 Keith Barron Logro ñ o 12 years of historical Logro ñ o de los Caballeros starts historical abandoned research lead to application founded, reported 4,100 research for 208,000Ha of troy oz in first year exploration concessions in Logro ñ o subjected to daily Cordillera de Cutucu attacks by the Jibaro Indians 2018-01-17 TSXV:ARU 16

Project T wo of Ecuador’s Lost Cities Approximate coverage of Lost Cities – Cutucu exploration concessions 1584 Map 2018-01-17 TSXV:ARU 17

Project Prime Discovery Potential Large land position (2,080km 2 ) • Underexplored concessions • Known mineral belt extends across concession area • Chapiza & Santiago Formations 2018-01-17 TSXV:ARU 18

Project Exploration Approach 2018-01-17 TSXV:ARU 19