Aurania Resources Ltd. Announces the Appointment of Dr. Richard Spencer as President and Shareholder Approval of the Lost Cities - Cutucu Project

TORONTO, ONTARIO--(Marketwired - May 29, 2017) - Aurania Resources Ltd. (TSX VENTURE:ARU) ("Aurania" or the "Company") is pleased to announce the appointment of current Board member Richard Spencer, as its new President, effective immediately. Dr. Spencer will be responsible for the financial and operational performance of the Company. Dr. Keith Barron will maintain the role of CEO and will continue as Chairman of the Board.

Dr. Spencer brings both corporate and technical experience relevant to Aurania and to its Lost Cities - Cutucu Project in Ecuador, the flagship asset of the Company. Richard is a PhD geologist with 10 years of experience in Ecuador, having led Gencor Ltd.'s exploration team that made the grassroots discovery of the San Carlos, Mirador and Panantza porphyries that contain an estimated 24 billion pounds of copper and 3 million ounces of gold. These deposits lie in the area immediately south, and along trend of the Lost Cities - Cutucu Project. Dr. Spencer also worked at Iamgold Corp. where his team discovered the Quimsacocha - Loma Larga deposit in Ecuador, containing resources of 3 million ounces of gold and 23 million ounces of silver. He later joined Crystallex International Corp. as VP-Exploration, working on the Las Cristinas gold deposit in Venezuela, where his team increased gold reserves by 6.6 million ounces. Richard was appointed to the Company's Board of Directors on March 6, 2017. In addition, Richard will continue to serve as President, CEO and Director of U3O8 Corp., a TSX-listed exploration company with resources of uranium and battery commodities in deposits in Argentina, Colombia and Guyana.

"It is a privilege to be exploring in Ecuador again," Richard commented. "I look forward to integrating the exploration techniques that were so successful in the area immediately adjacent to Aurania's project area with more modern techniques to identify targets more efficiently."

"We are very pleased to welcome Richard as President of Aurania," Dr. Barron said. "His previous involvement with exploration in Ecuador will be very beneficial in implementing the company's strategy of building the relationships between the Company and the communities and employing ethical exploration practices in the region."

About Aurania

Aurania Resources Ltd. (TSX VENTURE:ARU) is a junior exploration mining company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals.