Toronto, Ontario--(Newsfile Corp. - May 9, 2024) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) ("Aurania" or the "Company") announces that, further to its news releases of April 17, 2024 and April 24, 2024, it has closed the first tranche (the "First Tranche") of its non-brokered private placement of up to 20,000,000 units ("Units") for aggregate gross proceeds of up to C$4,000,000, subject to the right of the Company to increase the size of the Initial Offering by up to 25% (the "Offering"). An aggregate of 10,874,360 Units were sold under the First Tranche at a price of C$0.20 per Unit (the "Issue Price"), for total gross proceeds of C$2,174,872.00.

Toronto, Ontario--(Newsfile Corp. - April 24, 2024) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) ("Aurania" or the "Company") announces that, further to its news release of April 17, 2024, it intends to increase the size of the debt settlement arrangement with Dr. Keith Barron, the CEO and a director of the Company, whereby Dr. Barron will convert up to C$2.0 million of the loans plus interest thereon of C$72,165, for an aggregate amount of C$2,072,165 owed to him (the "Debt") by the Company into common shares ("Common Shares") at a price of C$0.20 per Common Share (the "Debt Settlement"). The Debt relates to promissory notes of the Company in respect of loans by Dr. Barron for the purpose of providing cash resources to the Company. The Company has elected to settle the indebtedness through the issuance of Common Shares to preserve cash and strengthen the Company's balance sheet. There are no other changes to the terms of the Debt Settlement, as announced on April 17, 2024.