Aura Agrees to Purchase Gold Road Mine and Related Transactions with Para - Seite 2

Upon completion of the Transactions, it is expected that Aura will own 100% of each of GRMC and TR-UE Vein.

The closing of the Transactions is expected to occur on or about March 13, 2020.

Completion of the Transactions is subject to, among other things, (i) the parties reaching agreement on definitive documentation, (ii) Para receiving any required shareholder approval and approval of the TSX Venture Exchange and (iii) satisfactory completion by Aura of due diligence.

In connection with entering into of the Term Sheet, shareholders of Para holding over 50% of all of Para’s issued and outstanding shares have agreed to vote in favour of the Transactions pursuant to any shareholder approval requirements triggered by the Transactions under applicable law.

Mr. Rodrigo Barbosa, President and CEO of Aura, said today, “We believe that Gold Road has a good strategic fit with Aura’s portfolio. With our technical and managerial expertise we should be able to help Gold Road unlock value and grow.”

Mr. Geoff Hampson, Chairman and CEO of Para, said today, “This transaction, if concluded, ends Para’s involvement with the Gold Road Mine. Management and the Board of Directors have concluded that selling the shares of Z79 in return for a release by PPG of all of Para’s obligations under the PPF is in the best interests of Para Resources Inc. and our shareholders.”

Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements”, as defined in applicable securities laws (collectively, “forward-looking statements”) which include, but are not limited to, statements with respect to the activities, events or developments that Aura and Para expect or anticipate will or may occur in the future.

Known and unknown risks, uncertainties and other factors, many of which are beyond the ability of Aura and Para to predict or control, could cause actual results to differ materially from those contained in the forward-looking statements. Specific reference is made to Aura’s most recent Annual Information Form on file with certain Canadian provincial securities regulatory authorities and Para’s most recent Management’s Discussion and Analysis on file with certain Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements.