Dr. Keith Barron reports

AURANIA COMMENCES DRILL PROGRAM AT THOR'S VALLEY GOLD PROJECT IN ICELAND

Aurania Resources Ltd. has commenced drilling at the company's Thormodsdalur gold project in Iceland. Aurania has engaged a Finland-based drilling contractor -- Arctic Drilling Company Oy Ltd. -- to carry out the program to diamond drill six holes for a total of approximately 770 metres at Thor's Valley. The program is expected to run for approximately one month and drill core samples will be sent for assaying.

Highlights

• Drill program under way at the Thor's Valley epithermal gold project in Iceland.
• Six drill holes planned with five twin holes to retest historical intercepts under modern drilling and QA/QC (quality assurance/quality control) practice and one hole to test a new target where numerous high-grade rock-chip boulder samples up to 102 parts per million gold (Au) have been mapped at surface.
• A previous operator drilled 32 holes totalling 2,431 metres at Thor's Valley, which returned results up to 415.40 g/t Au.
• In 2020, Iceland Resources ehf drilled 11 drill holes totalling 1,780 metres with results of up to 113 g/t Au.

Dr. Keith Barron, chairman, president and chief executive officer of Aurania, commented: "The Thor's Valley project is supported by a history of documented high-grade gold mineralization. Many of the structural targets remain largely untested by modern exploration methods. Amazingly, the drill location is only a 30-minute drive from downtown Reykjavik, the capital of Iceland. We are optimistic that our project could potentially replicate what was done in the 1920's; namely, produce 'direct-shipping' siliceous ore that could be taken to the port by truck and thence sent by freighter to Scandinavia or Canada to be used as smelter flux. This would obviate the need for tailings containments or a mill. The famous Hishikari gold mine in Japan has been supplying Sumitomo with copper smelter flux for years. Precious metals are retrieved in the copper refining process. Thor's Valley is a low-sulphidation epithermal gold-silver system, and of the same type as Hishikari."

Project overview

In April, 2026, Aurania entered into a definitive option agreement with St-Georges Eco-Mining Corp. (Canadian Securities Exchange: SX), a Canadian incorporated mineral exploration company and its wholly owned subsidiary Iceland Resources ehf (IR), an Icelandic incorporated precious metals exploration company to work collaboratively to define and execute a phased exploration program aimed at advancing the Thor's Valley gold project, toward initial modern resource definition. The Thor's Valley project is held by IR and is located approximately 20 kilometres east of Reykjavik, the capital of Iceland.

Thor's Valley is a historically known gold-bearing, low-sulphidation epithermal system that was initially discovered in 1903 when two Icelandic farm boys picked up pieces of white quartz from a stream, which proved to be gold-bearing. A number of ventures were organized from 1911 to 1924 using German or British capital. Two shafts were sunk and approximately 400 metres of lateral workings performed. As a result of this, the productive vein was estimated to be one metre wide and at least one kilometre long. Reported grades were 11 g/t to 315 g/t gold. The ore was direct shipping and initially sent to Norway and later to Germany for treatment. There are no historic tailings on site. Perhaps significantly, the historical record indicates that the last operator, Arcturus, a German company, failed due to the Weimar hyperinflation rather than ore depletion.

Between 2005 and 2006, the private exploration company Melmi ehf drilled 32 holes totalling 2,431 m, which returned results up to 415.40 g/t Au. Melmi ehf was acquired by Iceland Resources in 2020, which completed 11 additional drill holes totalling 1,780 m with results of up to 113 g/t Au.

Qualified persons

The scientific and technical information contained in this news release has been reviewed and approved by Aurania's vice-president, exploration, Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Aurania Resources Ltd.

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and critical energy in Europe and abroad.

We seek Safe Harbor.