Aurelius Announces Increase to Its Previously Announced Non-Brokered Equity Financing to $4,000,000

Aurelius Minerals Inc. (TSX.V: AUL) (the “Company” or “Aurelius”) is pleased to announce that is has increased the size of its previously announced non-brokered private placement from $2,750,000 to $4,000,000. As announced, the Company expects to issue common share units (“Common Share Units”) at a price of $0.05 per Common Share Unit for aggregate gross proceeds of approximately $2 million and flow-through units (“Flow-Through Units”) at a price of $0.055 per Flow-Through Unit for aggregate gross proceeds of approximately $2 million; the offering of the Common Share Units and the Flow-Through Units (collectively, the “Offering”).

 

The other terms of the Offering, including the composition and attributes of the Units and FT Units, the appointment of certain advisors to the Company in connection with the Offering and the use of proceeds of the Offering are set out in the press release of the Company dated June 23, 2020, which is available on SEDAR at www.sedar.com.

 

The Offering is expected to close on or about July 14, 2020 and is subject to receipt of applicable regulatory approvals including the approval of the TSX Venture Exchange. The securities issued will be subject to a standard four month hold period.

 

This new release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will be not be registered under the United States Securities Act of 1933 as amended (the “1933 Act”), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.

 

About Aurelius

 

Aurelius is a well-positioned gold exploration company focused on advancing gold projects in Ontario’s Abitibi Greenstone Belt along with the just acquired and renamed Aureus Gold Properties, including Aureus West, the Tangier Gold Project and the Forest Hill Gold Project located in Nova Scotia and described in detail in the Company’s press release of November 18, 2019. The high-grade Aureus Gold Project and mill in Nova Scotia completed initial gold extraction from test milling of a bulk sample in March 2017. The Aureus Gold Project covers 1,684 hectares in 104 mineral claims with a gold-bearing vein system defined by diamond drilling over a strike length of 1.4 km and to a depth of 400 m.

 

Aurelius is also focused on advancing two district-scale gold projects in the Abitibi Greenstone Belt in Ontario, Canada, one of the world’s most prolific mining districts; the 968-hectare Mikwam Property, in the Burntbush area on the Casa Berardi trend and the 12,425-hectare Lipton Property, on the Lower Detour Trend. In 2018, Ontario converted its manual system of ground and paper staking and maintaining unpatented mining claims to an online system. All active, unpatented claims were converted from their legally defined location to a cell-based provincial grid. The Mikwam Property is comprised of 9 legacy claims consisting of 69 Cell Claims including 29 Single Cell Mining Claims (“SCMC’s”) and 40 Boundary Cell Mining Claims (“BCMC’s”). The Lipton Property is now comprised of 57 legacy claims consisting of 721 Cell Claims, 563 SCMC’s, 143 BCMC’s, and 30 “internal” and overlapping (i.e., two occupying the same space) BCMC’s.

 

On Behalf of the Board

AURELIUS MINERALS INC.

 

For further information please contact: Aurelius Minerals Inc.

 

Mark N.J. Ashcroft, President & CEO

info@aureliusminerals.com

Tel.: (416) 304-9095

www.aureliusminerals.com