Toronto, Ontario--(Newsfile Corp. - March 23, 2023) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) ("Aurania" or the "Company") is pleased to announce that it has closed the first tranche (the "First Tranche") of its non-brokered private placement financing of up to 10,869,565 units of the Company (the "Units") for gross proceeds of up to C$5,000,000 (the "Initial Offering"), subject to the right of the Company to increase the size of the Initial Offering by up to 25% of the size of the Initial Offering (the "Upsize Option", and together with the Initial Offering, the "Offering"), as previously announced on March 13, 2023. An aggregate of 7,801,145 Units were sold under the First Tranche at a price of C$0.46 per Unit (the "Issue Price"), for total gross proceeds of C$3,588,526.70.

Vancouver, British Columbia--(Newsfile Corp. - March 21, 2023) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) - The exploration company found geological evidence of an epithermal gold system during its recent drill program in southeastern Ecuador. Keith Barron, CEO, President & Chairman, tells BTV about how the company has been exploring the area for six years, and multiple targets for gold, copper and silver have been identified and are being advanced.