Wednesday, July 27, 2022

Aurania Resources (AUIAF)
Laying the Groundwork for a Successful Drill Program

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

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

Fieldwork update. Currently, the company is finishing Anaconda-style mapping at the Tatasham porphyry copper target and will begin mapping at the Awacha target in late August. We think drilling could begin at Tatasham later in the year, followed by Awacha. Anaconda-style mapping owes its name to Anaconda Copper Company, where the technique was developed, and entails measurement of geological features in the field along with plotting the data to scale. In our view, the comprehensive mapping program should support a productive drilling program and enhance the probability of successful outcomes.

Board appointment. Aurania recently appointed Mr. Thomas Ullrich to the Board of Directors which now includes three independent directors and Dr. Keith Barron, Chairman, President, and CEO. Mr. Ullrich has over 30 years of experience in mineral exploration and geoscience and has served as the Chief Executive Officer and Director of Aston Bay Holdings Ltd. (TSX-V: BAY.V) since 2016. Prior to that, Mr. Ullrich served as Chief Geologist for North America with Antofagasta Minerals plc, investigating the region’s copper potential through property evaluations and managing drill programs in the United States, Mexico, and Canada. Mr. Ullrich will lend significant technical experience to Aurania, along with significant executive-level experience within the metals and mining industry….

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.