Gold and Copper Exploration in Ecuador

Gold and Copper Exploration in Ecuador

2 Forward Looking Statements This presentation contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania s future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as believes, anticipates, expects, estimates, may, could, would, will, or plan. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this presentation includes, but is not limited to, Aurania s company s objectives, goals or future plans, statements, exploration results, potential mineralization, the company s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure or inability to complete the Transaction on the terms as proposed, failure to obtain the required approvals of the Aurania s shareholders and regulators, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate the indigenous communities, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in Aurania s public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this presentation are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this presentation, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. The technical information contained in this presentation has been verified and approved by Aurania's Chief Geologist, Jean-Paul Pallier, a designated EurGeol by the European Federation of Geologists and "Qualified Person" for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

Investment Highlights People Multiple prior discoveries in Ecuador CEO Keith Barron responsible for discovering Fruta del Norte epithermal gold/silver deposit President Richard Spencer led teams responsible for discovery of San Carlos, Panantza, Mirador porphyry copper and Loma Larga gold deposits Jurisdiction: Ecuador Government moving towards mining for economic growth The Lost Cities Cutucu Project Favourable geological setting Along trend of major gold-copper discoveries Proprietary historical information provides unique insight 2018-01-17 TSXV:ARU 3

TSXV:ARU 4 Board of Directors Keith Barron Ph.D. CEO and Chairman Elaine Ellingham M.Sc., MBA, P.Geo. Director Richard Spencer Ph.D., P.Geo., C.Geol. President and Director Marvin Kaiser Retired CFO Director Gerald Harper Ph.D., P.Geo. Director

TSXV:ARU 5 Management Keith Barron Ph.D. CEO and Chairman Jean Paul Pallier M.Sc., EurGeol. VP-Exploration Richard Spencer Ph.D., P.Geo, C.Geol. President and Director Donna McLean B.A. CFO Monica Ospina M.Sc. Head of CSR Carolyn Muir B. Sc. Manager Investor Services

Capital Structure ARU 27,335,625 1,600,445 2,315,000 31,251,070 4.40 120MM Debt US$1MM deferred payment relating to acquisition of Ecuasolidus S.A. (corporate entity in which the Lost Cities - Cutucu concessions are held) Conditions Due date: May 29, 2018 2% Annual interest rate 2018-01-17 TSXV:ARU 6

Corporate Snapshot Recent Financing Options April 2017 C$2.00 3,200,890 1,816,745 C$3.00 Oct, 2018 1.7MM 415K 150K 430K C$0.40 $C0.60 C$2.30 C$2.00 April, 2018 July, 2021 May, 2022 Nov, 2022 Shareholder Base 1yr Share Price Others 39% Insiders 61% 2018-01-17 TSXV:ARU 7

The Opportunity Management discovered mines along-trend Concession area never systematically explored with modern techniques Proprietary historical information Ecuador: a pro-mining jurisdiction Excellent potential for world class deposits 2018-01-17 TSXV:ARU 8

9 People Dr. Keith Barron Ph.D Aurania s CEO and Chairman Exploration geologist with over 33 years experience in the mining sector 2003 discovered Fruta del Norte goldsilver deposit - sold for $1.2B Awarded 2008 Thayer Lindsley International Discovery Award Named the Northern Miner s 2008 Mining Man of the Year

10 People Dr. Richard Spencer Ph.D., P.Geo., C.Geol. Aurania s President and Director Lived in Ecuador for 10 years Led Gencor s exploration team in discovery of porphyry district: 24 billion lbs copper 4 million oz gold Discovered Loma Larga epithermal gold silver deposit for Iamgold 3 million oz gold 27 million oz silver

11 Jurisdiction Ecuador: Government Investment Pangui Health Clinic Los Encuentros School Government spent US $136 million on infrastructure near future mines partially funded with advanced royalties. Ecuadorian law stipulates that 60% of royalties from mining go to local communities.

12 Jurisdiction Ecuador: Exploration Hotspot 1 4/6 ECUADOR 5 3 2 7 5

13 Jurisdiction Multiple Deposits Being Development Mines Under Construction Fruta del Norte (Gold-Silver) Lundin Gold; San Carlos & Mirador (Copper and Copper-Gold) China National Rail; Loma Larga (Gold-Silver-Copper) INV Metals; Advanced Exploration and Resource Definition Santa Barbara (Gold-Copper) Lumina Gold; Cangrejos (Gold-Copper) Lumina Gold; Cascabel (Copper-Gold) SolGold; Llurimagua (Copper) Codelco;

14 Project Nambija, Ecuador Nambija is one of Ecuador s Lost Cities rediscovered in 1981

15 Project Sevilla del Oro, Ecuador 1628 Text Sevilla del Oro is the richest mine in the Indies

16 Project Historic Timeline: The Lost Cities Logroño destroyed and re-established. Sevilla del Oro founded. Logroño destroyed Last attempt to restore Logroño to the Crown Keith Barron discovers Fruta del Norte gold deposit 1564 1575/1576 1582 1594 1605 1616 2003 2006 2016 Logroño de los Caballeros founded, reported 4,100 troy oz in first year Logroño subjected to daily attacks by the Jibaro Indians Logroño abandoned Keith Barron starts historical research 12 years of historical research lead to application for 208,000Ha of exploration concessions in Cordillera de Cutucu

17 Project Two of Ecuador s Lost Cities Approximate coverage of Lost Cities Cutucu exploration concessions 1584 Map

18 Project Prime Discovery Potential Large land position (2,080km 2 ) Underexplored concessions Known mineral belt extends across concession area Chapiza & Santiago Formations

19 Project Exploration Approach

Favourable Geology Project Similar geological framework that hosts deposits in the Cordillera del Condor are evident in The Lost Cities Cutucu Project Schematic pull-apart basin at a jog in a right-lateral fault Fruta del Norte pull-apart shown at the same scale as the Cutucu map Fruta del Norte gold deposit Pull-apart basins interpreted from satellite imagery over Lost Cities Cutucu Project 10km 2018-01-17 TSXV:ARU 20

21 Project Stream Sediment Sampling 1 st Epithermal Target Identified

22 Project Latorre: 1 st Epithermal Target Similar to Stream Sediment Footprint that Led to Discovery of the Fruta del Norte Deposit Graphics from Aurelian Resources Presentation, 2006

23 Project Geophysics - Magnetics Awacha Target: Porphyry cluster target compared with SolGold s Cascabel Project Awacha Target: Reduction to the Pole (RTP) magnetic data. Data is from ~3% of the Lost Cities Cutucu Project SolGold s Cascabel Project: RTP data (Source: SolGold)

Project Next Steps - Continued stream sediment sampling - Detailed exploration of prioritized targets - Soil sampling - Selection of targets for scout drilling in H2, 2018 2018-01-17 TSXV:ARU 24

25 Why Invest? People Track record of major discoveries in adjacent area Large insider equity position Committed to community engagement Jurisdiction Pro-mining government Potential for World Class Deposits Underexplored concession block Favourable geological setting Along trend of major gold-copper belt Proprietary historical info provides unique insight Unique Opportunity One of the last exploration frontiers Multiple epithermal gold-silver & porphyry copper deposits emerging opportunity to maximize shareholder value through multiple JV s / SpinCos Strong news flow

26 Contact Corporate Office 36 Toronto Street, Suite 1050 Toronto, ON M5C 2C5, Canada (416) 367-3200 ir@aurania.com Dr. Keith Barron, CEO and Chairman keith@aurania.com Social Media @AuraniaLtd @AuraniaLtd Aurania Resources Dr. Richard Spencer, President and Director richard.spencer@aurania.com Donna McLean, Chief Financial Officer donna.mclean@aurania.com Carolyn Muir, Manager Investor Services carolyn.muir@aurania.com