26/05/21 - TSX Venture Exchange Bulletins
TSX VENTURE COMPANIES
BULLETIN V2026-1750
AURANIA RESOURCES LTD. ("ARU")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: May 21, 2026
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation relating to an option agreement (the "Agreement") dated April 27, 2026, between Aurania Resources Ltd. (the "Company") and arm's length parties (the "Optionor"). Pursuant to the Agreement, the Company will earn a 70% interest in the Thormodsdalur gold project (the "Project") by incurring exploration expenditures over a four-year period. The Project is located approximately 20 kilometers east of Reykjavik, the capital of Iceland.
CONSIDERATION
CASH ($)
SECURITIES
WORK EXPENDITURES ($)
Issued on closing
1st anniversary
2nd anniversary
3rd anniversary
4th anniversary
N/A
N/A
N/A
N/A
N/A
988,359 Common Shares
N/A
N/A
N/A
N/A
N/A
US$500,000
US$1,000,000
US$1,500,000
US$2,000,000
Upon the Company earning a 70% interest in the Project, the Optionor will have the option to choose between maintaining a 30% interest in the Project through a joint venture or retaining an up to 3% net smelter return ("NSR") royalty on the Project (the "Royalty"), with such Royalty to be reduced as necessary such that the aggregate royalty burden on the Project shall not exceed 3%, inclusive of any pre-existing NSR royalties. If the Optionor elects to retain the Royalty, the Company will have the right, in its sole discretion, to increase its ownership in the Project to 100% by incurring an additional US$2,000,000 of exploration expenditures prior to the 5th anniversary.
For further details, please refer to the Company's news releases dated April 28, 2026 and May 8, 2026.
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