Toronto - Aurelius Minerals Inc. (TSX.V: AUL) (the 'Company' or 'Aurelius') is pleased to announce initial assay results from the first three holes at its Aureus West Gold Project located in Nova Scotia, Canada.
Holes are from Pad One, the furthest west of the three pads utilized in the 2020 drilling program. All holes intersected significant gold mineralization and new gold horizons were identified to a depth of 500 metres ('m') below surface, well below the current resource depth of approximately 150m. The Aureus West Project is located approximately one kilometre south from the Aureus East Gold Project. Ten holes were completed, totaling approximately 4,600m, in the 2020 drilling program.
Highlights
Intersected high-grade intervals within multiple gold horizons. o High-grade horizons include: AW-20-001 2.5m grading 13.2 grams per tonne ('g/t') gold including 0.5m grading 46.4 g/t gold
AW-20-002 19m grading 1.3 g/t gold including 0.4m grading 59.8 g/t gold o Encountered multiple gold zones from surface which extend to depth AW-20-001 intersected 114.5m grading 0.5 g/t gold
AW-20-002 intersected 34.0m grading 0.5 g/t gold, 19m grading 1.32 g/t gold, and 31.5m grading 1.02 g/t gold
Depth extent of gold mineralization extended below previous drilling to three times the existing resource depth and remains open.
Mark N.J. Ashcroft, P.Eng, President and CEO commented, 'We are very pleased with the initial assays from our Aureus West Phase One drilling program. These results confirm the extensive mineralization at this project showcasing both high-grade intervals and broad mineral horizons to depth in both holes. We are awaiting additional assay results from the balance of the program and will utilize those results to plan our Phase Two program.'
The Aureus West gold exploration program is focused on growing gold resources which occur in stacked saddle reef quartz veins which follow the folded host rocks. The gold mineralization tends to exhibit thicker intersections along the fold axis of the anticlines. The system extends in an east-west direction and is replicated in a series of horizons to depth. To date the Company has confirmed that these horizons continue to a depth of at least 500m where the system remains open. Historical work indicates that the Aureus West gold mineralization continues for over 1.9km towards the west, and is also open in that direction. The eastern margin of the gold mineralization is constrained by the Harrigan-Cove fault, a significant regional structure. From the Aureus West gold trend, the Harrigan-Cove fault extends to the north west and separates the Aureus West and East gold systems, which are offset by approximately 1km of displacement.
COVID-19 Precautions
Aurelius has developed and implemented compliant precautions and procedures that are in line with guidelines for the Province of Nova Scotia. Protocols were put in place to ensure the safety of our employees and contractors, thereby reducing the potential for community contact and spreading of the virus.
About Aurelius
Aurelius is a well-positioned gold exploration company focused on advancing its recently acquired and renamed Aureus Gold Properties, including Aureus East and West, the Tangier Gold Project and the Forest Hill Gold Project located in Nova Scotia and described in detail in the Company's press release of November 18, 2019.
Aurelius is also focused on advancing two district-scale gold projects in the Abitibi Greenstone Belt in Ontario, Canada, one of the world's most prolific mining districts: the 968-hectare Mikwam Property, in the Burntbush area on the Casa Berardi trend and the 12,425-hectare Lipton Property, on the Lower Detour Trend.
The Company has a sound management team with experience in all facets of the mineral exploration and mining industry who will be considering additional acquisitions of advanced staged opportunities in Nova Scotia, the Abitibi and other proven mining districts.
Contact:
Mark N.J. Ashcroft
Tel: (416) 304-9095
Email: info@aureliusminerals.com
Web: www.aureliusminerals.com
Cautionary Note Regarding Forward-Looking Information
This news release contains 'forward-looking information' under the provisions of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Aurelius. All statements in this press release, other than statements of historical fact, are 'forward-looking information' with respect to Aurelius within the meaning of applicable securities laws, including statements with respect to the Company's planned drilling and exploration activities, the anticipated benefits of the Acquisition and the development of the Aureus Gold Properties, the future price of gold, the estimation of Mineral Resources, the realization of Mineral Resource estimates, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', 'believes', or variations or comparable language of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'should', 'might' or 'will be taken', 'occur' or 'be achieved' or the negative connotation thereof. Forward-looking information is necessarily based upon a number of factors and assumptions that, if untrue, could cause the actual results, performances or achievements of Aurelius to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Aurelius will operate in the future, including the price of gold, anticipated costs and ability to achieve goals.
Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking information include, among others, gold price volatility, mining operational and development risks, litigation risks, regulatory restrictions (including environmental regulatory restrictions and liability), changes in national and local government legislation, taxation, controls or regulations and/or change in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in Canada, delays, suspension and technical challenges associated with projects, higher prices for fuel, steel, power, labour and other consumables, currency fluctuations, the speculative nature of gold exploration, the global economic climate, dilution, share price volatility, competition, loss of key employees, additional funding requirements and defective title to mineral claims or property. Although Aurelius believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.
The Company provides forward-looking information for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Aurelius to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to difficulties in executing exploration programs at the Mikwam, Lipton and Aureus Gold Properties on the Company's proposed schedules and within its cost and scheduling estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates, the integration of acquisition; risks related to current global financial conditions including market reaction to the coronavirus outbreak; competition within the industry; actual results of current exploration activities; environmental risks; changes in project parameters as plans continue to be refined; future price of gold; failure of plant, equipment or processes to operate as anticipated; mine development and operating risks; accidents, labour disputes and other risks of the mining industry; delays in obtaining approvals or financing; risks related to indebtedness and the service of such indebtedness, as well as those factors, risks and uncertainties identified and reported in Aurelius' public filings under Aurelius' SEDAR profile at www.sedar.com. Although Aurelius has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. Aurelius disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
AURELIUS MINERALS INC. 
