Aurania Reports High-Grade Silver-Zinc from Outcrop at Tiria-Shimpia

Toronto, Ontario, April 12, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports on its first channel rock-chip sampling from the Tiria-Shimpia silver-zinc zone – a target that is over 15 kilometres (“km”) in length, in the central part of the Company’s Lost Cities – Cutucu Project (“Project”) in southeastern Ecuador.    

Seven mineralized layers have been identified, one of which is 50 metres (“m”) thick.  So far, the layers have been traced laterally, through intermittent exposures in thick jungle, for between 500m and 1,100m.  As can be appreciated, with mineralization of this magnitude it will be some time before the full surface extent is truly known and sampled, however the Company is already making plans to diamond drill several key exposures in the near term.   

Aurania’s Chairman & CEO, Dr. Keith Barron commented, “Shareholders will be aware that we have been working on Tiria-Shimpia for some time now.  Earliest indications were that we could be dealing with a simple vein system of limited mineral volume.  We are now very much aware that we are dealing with a different beast: we have traced it along trend for over 15 kilometres, and we’re starting to demonstrate continuity between one exposure and the next, Tiria-Shimpia is shaping up to be Aurania’s first discovery.  While this target is evolving, we are running our concurrent drill programs at Tsenken N1 and Kuri-Yawi, both of which give us exposure to making additional discoveries.  The Tiria-Shimpia target now extends across almost the entire width of our concession block as illustrated in Figure 1.  Our regional exploration teams are finding further extensions to the mineralized system, and our expectation is that it will grow further.”  

Additional soil sampling has expanded the area in which silver and zinc have been found in the Tiria-Shimpia target area by approximately 120% since soil results were last reported in the press release dated February 8, 2021.  

Figure 3.  Field teams measuring the true width of mineralized layers exposed in the bank of a stream.

Figure 4.  Massive sphalerite (fine-grained, brown) and galena (gray metallic) from the core of one of the high-grade layers of mineralization at Tiria-Shimpia.

Endeavour Silver Closes Sale of El Cubo Mine to VanGold Mining

VANCOUVER, British Columbia, April 12, 2021 (GLOBE NEWSWIRE) —
Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) (“Endeavour”) announces that it has now closed the sale of the El Cubo Mine in Guanajuato, Mexico to VanGold Mining Corp. (“VanGold”) for $15 million in cash and share payments plus up to $3 million in future contingent payments (all dollar amounts in US dollars unless otherwise noted) (the “Transaction”).

VanGold paid $15,000,000 to Endeavour as follows:

• $7.5 million cash on closing.
• $5.0 million (C$6,399,317.40) in VanGold common shares (“VanGold Shares”) on closing, priced at $0.2344 (C$0.30) per VanGold Share for a total of 21,331,058 VanGold Shares (“Consideration
  Shares”) representing approximately 10.9% of the issued and outstanding VanGold Shares.
• $2.5 million promissory note due 12 months from closing.

VanGold has also agreed to pay Endeavour up to an additional $3,000,000 in contingent payments based on the following:

• $1.0 million upon VanGold producing 3,000,000 silver equivalent ounces from the El Cubo mill, derived from either the El Cubo or El Pinguico project, $500,000 of which may, in VanGold’s discretion, be paid in VanGold Shares.
• $1.0 million if the price of gold closes at or above $2,000 per ounce for 20 consecutive trading days within two years after the closing date of the Transaction.
• A further $1.0 million if the price of gold closes at or above $2,200 per ounce for 20 consecutive trading days within three years after the closing date of the Transaction.

Bradford Cooke, Endeavour CEO and Director, commented, “We are pleased to close this transaction and I congratulate VanGold for helping make it a win-win deal for both companies. They are in the best position to create more value out of the El Cubo assets given their emerging El Pinguico project located very close to El Cubo, and we now become the largest shareholder of VanGold. I look forward to supporting VanGold in their efforts to become the next junior silver-gold producer in Mexico!”

On the closing of the Transaction, Endeavour acquired 21,331,058 VanGold Shares. Based on 194,931,838 VanGold Shares outstanding as of the closing date of the Transaction, the Consideration Shares represent 10.9% of the outstanding VanGold Shares on an undiluted basis. Prior to the closing date of the Transaction, Endeavour did not own any VanGold Shares or other securities of VanGold.   Endeavour has agreed to abstain from voting its shares of VanGold, other than as recommended by VanGold’s management, for a period of 2 years, and to a 12-month restriction on the resale of any VanGold shares acquired in this Transaction.

Endeavour acquired its interest in the Consideration Shares for long term investment purposes and will continue to monitor the business, prospects, financial condition and potential capital requirements of VanGold. Endeavour may acquire additional securities of VanGold including on the open market or through private acquisitions or sell securities of VanGold including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer.  Our philosophy of corporate social integrity creates value for all stakeholders.

SOURCE Endeavour Silver Corp.

Endeavour will file an early warning report in connection with the Transaction on SEDAR at www.sedar.com. A copy of the report may be obtained by contacting Galina Meleger at:  

Contact Information
Galina Meleger, Director Investor Relations
Toll free: (877) 685-9775
Tel: (604) 640-4804
Email: gmeleger@edrsilver.com
Website: www.edrsilver.com

Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn

Cautionary Note Regarding Forward-Looking Statements

This
news release contains “forward-looking statements” within the meaning of the
United States private securities litigation reform act of 1995 and
“forward-looking information” within the meaning of applicable Canadian
securities legislation. Such forward-looking statements and information herein
include but are not limited to statements regarding future prospects of the El
Cubo and El Pinguico projects and future acquisitions or dispositions of
VanGold Shares. The Company does not intend to and does not assume any obligation
to update such forward-looking statements or information, other than as
required by applicable law. 

Forward-looking
statements or information involve known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity, production
levels, performance or achievements to be materially different from those
expressed or implied by such statements. Such factors include but are not
limited to the ultimate impact of the COVID 19 pandemic on operations and
results, changes in production and costs guidance, national and local
governments, legislation, taxation, controls, regulations and political or
economic developments in Canada and Mexico; financial risks due to precious
metals prices, operating or technical difficulties in mineral exploration,
development and mining activities; risks and hazards of mineral exploration, development
and mining; the speculative nature of mineral exploration and development and
risks in obtaining necessary licenses and permits,

Forward-looking
statements are based on assumptions management believes to be reasonable,
including but not limited to: the continued exploration and mining operations,
no material adverse change in the market price of commodities, mining
operations will operate and the mining products will be completed in accordance
with management’s expectations and achieve their stated production outcomes,
and such other assumptions and factors as set out herein. Although the Company
has attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking statements or information,
there may be other factors that cause results to be materially different from
those anticipated, described, estimated, assessed or intended. There can be no
assurance that any forward-looking statements or information will prove to be
accurate as actual results and future events could differ materially from those
anticipated in such statements or information. Accordingly, readers should not
place undue reliance on forward-looking statements or information.  

Source: Endeavour Silver Corporation

Aurania Reports High-Grade Silver-Zinc from Outcrop at Tiria-Shimpia

Toronto, Ontario, April 12, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports on its first channel rock-chip sampling from the Tiria-Shimpia silver-zinc zone – a target that is over 15 kilometres (“km”) in length, in the central part of the Company’s Lost Cities – Cutucu Project (“Project”) in southeastern Ecuador.    

Seven mineralized layers have been identified, one of which is 50 metres (“m”) thick.  So far, the layers have been traced laterally, through intermittent exposures in thick jungle, for between 500m and 1,100m.  As can be appreciated, with mineralization of this magnitude it will be some time before the full surface extent is truly known and sampled, however the Company is already making plans to diamond drill several key exposures in the near term.   

Aurania’s Chairman & CEO, Dr. Keith Barron commented, “Shareholders will be aware that we have been working on Tiria-Shimpia for some time now.  Earliest indications were that we could be dealing with a simple vein system of limited mineral volume.  We are now very much aware that we are dealing with a different beast: we have traced it along trend for over 15 kilometres, and we’re starting to demonstrate continuity between one exposure and the next, Tiria-Shimpia is shaping up to be Aurania’s first discovery.  While this target is evolving, we are running our concurrent drill programs at Tsenken N1 and Kuri-Yawi, both of which give us exposure to making additional discoveries.  The Tiria-Shimpia target now extends across almost the entire width of our concession block as illustrated in Figure 1.  Our regional exploration teams are finding further extensions to the mineralized system, and our expectation is that it will grow further.”  

Additional soil sampling has expanded the area in which silver and zinc have been found in the Tiria-Shimpia target area by approximately 120% since soil results were last reported in the press release dated February 8, 2021.  

Figure 3.  Field teams measuring the true width of mineralized layers exposed in the bank of a stream.

Figure 4.  Massive sphalerite (fine-grained, brown) and galena (gray metallic) from the core of one of the high-grade layers of mineralization at Tiria-Shimpia.

Endeavour Silver Closes Sale of El Cubo Mine to VanGold Mining

VANCOUVER, British Columbia, April 12, 2021 (GLOBE NEWSWIRE) —
Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) (“Endeavour”) announces that it has now closed the sale of the El Cubo Mine in Guanajuato, Mexico to VanGold Mining Corp. (“VanGold”) for $15 million in cash and share payments plus up to $3 million in future contingent payments (all dollar amounts in US dollars unless otherwise noted) (the “Transaction”).

VanGold paid $15,000,000 to Endeavour as follows:

• $7.5 million cash on closing.
• $5.0 million (C$6,399,317.40) in VanGold common shares (“VanGold Shares”) on closing, priced at $0.2344 (C$0.30) per VanGold Share for a total of 21,331,058 VanGold Shares (“Consideration
  Shares”) representing approximately 10.9% of the issued and outstanding VanGold Shares.
• $2.5 million promissory note due 12 months from closing.

VanGold has also agreed to pay Endeavour up to an additional $3,000,000 in contingent payments based on the following:

• $1.0 million upon VanGold producing 3,000,000 silver equivalent ounces from the El Cubo mill, derived from either the El Cubo or El Pinguico project, $500,000 of which may, in VanGold’s discretion, be paid in VanGold Shares.
• $1.0 million if the price of gold closes at or above $2,000 per ounce for 20 consecutive trading days within two years after the closing date of the Transaction.
• A further $1.0 million if the price of gold closes at or above $2,200 per ounce for 20 consecutive trading days within three years after the closing date of the Transaction.

Bradford Cooke, Endeavour CEO and Director, commented, “We are pleased to close this transaction and I congratulate VanGold for helping make it a win-win deal for both companies. They are in the best position to create more value out of the El Cubo assets given their emerging El Pinguico project located very close to El Cubo, and we now become the largest shareholder of VanGold. I look forward to supporting VanGold in their efforts to become the next junior silver-gold producer in Mexico!”

On the closing of the Transaction, Endeavour acquired 21,331,058 VanGold Shares. Based on 194,931,838 VanGold Shares outstanding as of the closing date of the Transaction, the Consideration Shares represent 10.9% of the outstanding VanGold Shares on an undiluted basis. Prior to the closing date of the Transaction, Endeavour did not own any VanGold Shares or other securities of VanGold.   Endeavour has agreed to abstain from voting its shares of VanGold, other than as recommended by VanGold’s management, for a period of 2 years, and to a 12-month restriction on the resale of any VanGold shares acquired in this Transaction.

Endeavour acquired its interest in the Consideration Shares for long term investment purposes and will continue to monitor the business, prospects, financial condition and potential capital requirements of VanGold. Endeavour may acquire additional securities of VanGold including on the open market or through private acquisitions or sell securities of VanGold including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer.  Our philosophy of corporate social integrity creates value for all stakeholders.

SOURCE Endeavour Silver Corp.

Endeavour will file an early warning report in connection with the Transaction on SEDAR at www.sedar.com. A copy of the report may be obtained by contacting Galina Meleger at:  

Contact Information
Galina Meleger, Director Investor Relations
Toll free: (877) 685-9775
Tel: (604) 640-4804
Email: gmeleger@edrsilver.com
Website: www.edrsilver.com

Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn

Cautionary Note Regarding Forward-Looking Statements

This
news release contains “forward-looking statements” within the meaning of the
United States private securities litigation reform act of 1995 and
“forward-looking information” within the meaning of applicable Canadian
securities legislation. Such forward-looking statements and information herein
include but are not limited to statements regarding future prospects of the El
Cubo and El Pinguico projects and future acquisitions or dispositions of
VanGold Shares. The Company does not intend to and does not assume any obligation
to update such forward-looking statements or information, other than as
required by applicable law. 

Forward-looking
statements or information involve known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity, production
levels, performance or achievements to be materially different from those
expressed or implied by such statements. Such factors include but are not
limited to the ultimate impact of the COVID 19 pandemic on operations and
results, changes in production and costs guidance, national and local
governments, legislation, taxation, controls, regulations and political or
economic developments in Canada and Mexico; financial risks due to precious
metals prices, operating or technical difficulties in mineral exploration,
development and mining activities; risks and hazards of mineral exploration, development
and mining; the speculative nature of mineral exploration and development and
risks in obtaining necessary licenses and permits,

Forward-looking
statements are based on assumptions management believes to be reasonable,
including but not limited to: the continued exploration and mining operations,
no material adverse change in the market price of commodities, mining
operations will operate and the mining products will be completed in accordance
with management’s expectations and achieve their stated production outcomes,
and such other assumptions and factors as set out herein. Although the Company
has attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking statements or information,
there may be other factors that cause results to be materially different from
those anticipated, described, estimated, assessed or intended. There can be no
assurance that any forward-looking statements or information will prove to be
accurate as actual results and future events could differ materially from those
anticipated in such statements or information. Accordingly, readers should not
place undue reliance on forward-looking statements or information.  

Source: Endeavour Silver Corporation

Monday, April 12, 2021

Aurania Resources (AUIAF)(ARU:CA)
Drilling Underway at Kuri-Yawi Target; Recent Financings Enhance Financial Flexibility

As of April 24, 2020, Noble Capital Markets research on Aurania Resources is published under ticker symbols (AUIAF and ARU:CA). The price target is in USD and based on ticker symbol AUIAF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Aurania Resources Ltd. is a Canada-based junior mining exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper. Its flagship asset, The Lost Cities-Cutucu Project, is in southeastern Ecuador in the Province of Morona-Santiago. The company also has several minor projects in Switzerland.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Fully funded for remainder of 2021. Aurania Resources recently completed two financings, including a brokered equity issuance of 2,507,000 common shares for gross proceeds of C$7,771,700 and a private placement of 403,750 common shares for gross proceeds of C$1,250,000. Following the financings, the company had 46,843,388 shares outstanding by our estimate. Based on our forecasted expenditures, the company is fully funded for the remainder of the year.


Drilling Underway at Kuri-Yawi epithermal target.  Diamond drilling is underway at the Kuri-Yawi target and is testing an epithermal target and a deeper porphyry target down to potentially 1,000 meters. Recall that Aurania’s Mobile MT geophysical survey clearly defined a feature thought to be the sulphide-bearing core of a porphyry at the Yawi target. Epithermal veins were encountered about 100 …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.