TSXV:AU OTCQX:AIRRF

AURION RESOURCES LTD.TSX-V: AU, OTCQX:AIRRF

Corporate PresentationSeptember 2020

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Forward-Looking Statements

This presentation includes 'Forward-Looking Statements' related to Aurion Resources Limited’s continued effort to advance its mineral exploration programs. When used in this presentation, the words "potential," "anticipate," "forecast," "believe," "estimate," "expect," "may," "project," "plan," and similar expressions are intended to be among the statements that identify 'Forward-Looking Statements.' Although Aurion Resources Limited believes that its expectations reflected in these 'Forward-Looking Statements' are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.

These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.

Aurion Resources Limited does not make any representation as to the accuracy, validity or completeness of any facts or information contained herein. Nothing herein constitutes either an offer to sell or a solicitation of an offer to buy any securities in the United States or any other jurisdiction.

Mike Basha, P.Eng., P.Geo., President and Director of Aurion Resources Limited, is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has approved the technical disclosure and verified the technical information in this presentation.

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✓ District Scale, Attractive Jurisdiction

✓ Aurion controls ~80 km of the ~125 km Sirkka Shear Zone in the Central Lapland Greenstone Belt, which has similar features to major gold producing Greenstone Belts such as Abitibi, Canada and Kalgoorlie, Australia

✓ Aurion’s land package hosts numerous gold discoveries indicating camp scale potential

✓ Finland is one of the most attractive locations for exploration and mining

✓ High-Grade, Near Surface

✓ Over 8,500 boulder and outcrop samples averaging 6 g/t gold

✓ Numerous drill intercepts grading greater than 5 g/t gold, within 150 m from surface

✓ Aligned Interests Between Shareholder, Stakeholders and Management

✓ Supportive key investors and partners such as Kinross and B2Gold

✓ Management is the largest ownership group with ~14%

Discovering the Next Major Gold Camp

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Eric Sprott

✓ 83.5 M shares / 7.65 M options/ 720k broker warrants

✓ Market Cap: ~C$118.5 M (As of September 11th, 2020)

✓ Fully Funded: Working Capital ~C$11.2 M as at June 30, 2020

Key investors

Ownership and Capital Structure

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Source: TMX Website, Company documents

Compared to high-grade, pre-resource peers, Auriontrades at a discount

✓ Large land package

✓ High-grade gold

✓ Orogenic system

✓ Safe jurisdiction

✓ Tight share count

Market Capitalizations (C$M)

Share Price (C$) $17.87 $1.15 $2.80 $2.40 $3.25 $0.68 $3.36 $3.02 $1.80 $1.42 $0.93

Basic Shares O/S (M) 50.7 723.2 163.9 142.0 80.8 340.0 57.3 61.1 69.1 83.5 105.1

Market Cap (C$M) $906.1 $831.7 $458.9 $340.8 $262.7 $231.2 $192.4 $184.5 $124.4 $118.5 $97.8

Net Cash (C$M) $49.3 $42.6 $9.5 $38.3 $25.7 $11.6 $14.5 $25.4 $10.5 $11.3 $7.5

Country Canada Canada Finland Canada Canada Mexico Japan Australia Canada Finland USA

Land Package (000 Ha) 9.1 73.9 29.0 150.0 19.3 37.3 48.4 138.6 77.4 78.0 5.3

Undervalued Relative to Peers

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Chairman – David Lotan, CPA, CA➢ President of LHI, an investment company focused on natural resource opportunities➢ Founder and CEO of the Polar Structured Products – sold to major Canadian Financial Institution➢ Portfolio manager for the Ontario Teachers’ Pension Plan

CEO and Director – Matti Talikka, M.Sc., FAusIMM(CP)Geo➢ Various global positions at Outotec most recently as Director Geometallurgy and Project Evaluation➢ Former General Manager Exploration at Dragon Mining focusing on exploration and project development in Finland and Sweden➢ Non-executive director of Aurion since 2015, appointed as CEO in July 2020

Founder, President and Director – Mike Basha, P. Geo, P.Eng (Geological Engineer)➢ 28 years experience in the minerals industry working for majors (Noranda) and several juniors➢ Co – discovered Hammerdown Gold Mine➢ Successfully generated and joint ventured several projects with majors in Canada and Latin America

Director – Kerry E. Sparkes, M.Sc., P. Geo ➢ Over 30 years experience in the minerals industry as an exploration geologist and an executive➢ Explored for, delineated and developed two major Canadian gold deposits, both of which were subject of takeovers➢ Currently the Vice President of Geology for Franco-Nevada

CFO – Mark Serdan, CPA, CA, CFA ➢ 20-year career in investment management and banking➢ Recipient of multiple Lipper awards for investment performance in precious metals, energy and natural resources

VP Corporate Development – Mark Santarossa, CPA, CA, MBA➢ 15-year career in mining equity research, institutional sales, M&A and investment banking➢ Previously CFO and VP Corporate Development of GT Gold Corp.

Management and Board – Technical and Capital Market Experience

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Finland – One of the Top Jurisdictions for Exploration and Mining

Source: Eilu, P. (2015) Overview on Gold Deposits in Finland. In W.D. Maier, R. Lahtinen, H. O’Brien, Eds., Mineral Deposits of Finland (pp 377-410). Elsevier Inc.

Gold deposits in Finland

➢ Excellent access and infrastructure

➢ Skilled workforce

➢ Safe jurisdiction

➢ Transparent permitting processes

➢ High quality geological data sets

➢ Affordable grid power

➢ Corporate tax rate 20%

Aurion’s projects located in Sodankylä and Kittilä municipalities in northern Finland

➢ Sodankylä and Kittilä host active mining operations

➢ Local service providers for exploration and mining

➢ Easy access via extensive road and forestry track network to the project areas

➢ Ability to operate year around

Finland frequently ranked among the top jurisdictions in the world for mining investment attractiveness by Fraser Institute surveys

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Source: Niiranen, T., Lahti, I. and Nykänen, V. (2015) The Orogenic Gold Potential of the Central Lapland Greenstone Belt, Northern Fennoscandian Shield. In W.D. Maier, R. Lahtinen, H. O’Brien, Eds., Mineral Deposits of Finland (pp 733-752). Elsevier Inc.

CLGB – Similar Scale and Geology to Other Major Greenstone Belts

Central Lapland Greenstone Belts lacks the number and size of gold mines compared to other major gold prospective greenstone belts – WHY?

➢ Limited history of gold exploration in Finland

➢ State control of mining until 1995

➢ State-run mining companies focused on GDP enhancing metals

➢ Gold discoveries not followed up – information archived

Resources of the known orogenic gold deposits in greenstone belts

Zimbabwe craton

Abitibi

Norseman-Wiluna

Central Lapland Greenstone Belt

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Size comparison of the Central Lapland to Norseman-Wiluna, Abitibi, and Zimbabwe Craton greenstone belts.

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Aurion has interests in approximately 78,000 ha of land in the Central Lapland Greenstone Belt

➢ Risti (100%): over 16,000 ha

➢ Launi (100%): over 14,300 ha

➢ Kutuvuoma, Ahvenjärvi and Sinermä: JV with B2 Gold B2 Gold exercised its option to acquire a 51%-interest in approximately 25,000 ha of land

➢ Outapää: JV with Kinross Gold Kinross can earn up to 70%-interest in approximately 15,000 ha by spending US$5 million over 5 years

➢ Silasselkä: JV with Strategic Resources Strategic can earn up to 100%-interest in the vanadium project

First Mover Advantage – District Scale Land Position

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Risti & Launi – Numerous High-Grade Gold Discoveries

➢ Highly prospective geology

➢ On the Sirkka Shear, a crustal scale fault analogous to the Porcupine-Destor Fault Zone or the Larder Lake-Cadillac Deformation Zone

➢ Camp scale potential

➢ Several high-grade gold discoveries

➢ Under or unexplored for gold prior to Aurion – still largely untested

➢ Excellent access and ability to work year around

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Timmins Main:100 plus years of deep drilling and mining to depths > 2 km have

produced > 72 million ounces of gold

~ 6 km

25 million oz ~ 5 km

➢ Over 6,200 surface samples averaging 6.65 g/t Au over an area 15 km by 8 km at Risti

➢ Within Risti, the Aamurusko discovery – 1,210 samples averaging 25 g/t Au

Risti – Can Fit Both Timmins and Kirkland Lake

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Aamurusko NW➢ 9.42 g/t Au over 28.22 m➢ 23.41 g/t Au over 11.1 m➢ 6.84 g/t over 19.0 m

3D view looking North

Aamurusko Main➢ 789.1 g/t Au over 2.9 m➢ 42.2 g/t Au over 4.0 m➢ 24.5 g/t Au over 4.8 m➢ 22.6 g/t Au over 3.5 m

Gap Zone➢ 4.64 g/t Au over 3.10 m➢ 1.69 g/t Au over 7.75 m➢ 1.55 g/t Au over 3.45 m➢ 1.51 g/t Au over 3.35 m

OPEN

Risti – Multiple Zones of Near-Surface Gold Mineralization at Aamurusko

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OPEN

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Risti – Aamurusko and Aamurusko NW Long Section

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➢ Numerous gold intercepts over 1 km strike length and open along strike and with depth

Aamurusko MainAamurusko NW Gap Zone

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➢ Numerous high-grade intercepts including:➢ 789.1 g/t Au over 2.9 m from 116.1 m➢ 42.2 g/t Au over 4.0 m from 40.0 m➢ 24.5 g/t Au over 4.8 m from 48.8 m➢ 22.6 g/t Au over 3.5 m from 44.47 m

➢ Mineralization extended to about 150 m at depth, is open along strike and at depth

➢ Drilling 250 m to the east of Aamurusko Main intersected additional high grade gold mineralization➢ Hole AM18035 intersected multiple high-grade gold

intercepts: ➢ 12.45 g/t Au over 5.20 m from 53.50 m➢ 9.62 g/t Au over 1.74 m from 26.30 m ➢ 8.74 g/t Au over 1.55 m from 36.65 m

Risti – Aamurusko Main Long Section

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Doris, Hope Bay, Canada

Dome, Timmins, Canada

Risti – Aamurusko Main, Analogy to Canadian Orogenic Gold Deposits

➢ Mineralized zone defined by crack and seal (fault fill) vein

➢ Example intercept of 22.6 g/t Au over 3.5 m from 44.47 m (DH AM19114)

➢ Visible gold at Aamurusko often found along crack-seal fractures similar in style to Dome and Doris Gold mines

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Risti – Aamurusko NW, Analogy to Kalgoorlie, Australia

➢ The mineralized interval is defined by one or more crack and seal (fault fill) vein with associated extensional veining

➢ Analogous to mineralized structure observed in Kalgoorlie, Australia.

Kalgoorlie, Australia

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Risti – Extending the potential gold bearing structure

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Aamurusko

Niligap

Notches

Notches:

➢ 2,650+ surface grab samples averaging 2.2 g/t Au over a 5 km by 1 km area

➢ Channel sampling results include 3.20 g/t Au over 4.40 m

➢ Two drill holes completed:

➢ 2.99 g/t Au over 2.10 m from 31.40 m

➢ 20.30 g/t Au over 0.65 m from 27.40 m

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Risti – Kaaresselkä Prospect

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➢ Kaaresselkä is a gravel road accessible advanced gold prospect ~4 km south of Aamurusko Main.

➢ Adjacent to regional scale Sirkka Shear Zone

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➢ Previous drilling completed by the Geological Survey of Finland and Tertiary Minerals identified three zones of gold mineralization over an area of approximately 1.0 km by 0.6 km all within 150 m of surface.

➢ Historical drilling (approx. 130 holes) that intersected multiple intervals of ore grade and ore width mineralization, including 11.01 g/t Au over 4.90 m, all within 150 m of surface.

➢ Mineralized zones are open with depth and along strike

➢ Currently drilling approximately 2,000 m with one HQ diameter diamond drill rig at Kaaresselkä. Assay results will be released once received.

Risti – Kaaresselkä – High Priority Target with Historical Drilling

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Launi East – Recent Greenfield Discovery

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➢ The Launi East Project lies approx. 8 km southeast of the Risti Project.➢ New discovery in 2019 – No previous exploration

Launi East Sampling Highlights:➢ Over 2,300 rock sample assays received to date assayed as high as 709 g/t

Au and averaged 4.20 g/t Au.➢ 160 samples graded 10 g/t Au or higher, with 11 samples grading over 100

g/t Au.➢ Multiple new mineralized zones over 1.0 by 5.5 km area, with 10 new visible

gold occurrences.➢ Mineralization within altered envelope within 1-2 km of Sirkka Shear Zone.

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Launi East – Recent Drilling Success

CDZ Corridor:➢ Thirty-five (35) 40 to 200 m spaced drillholes were completed over a

strike length of approx. 1.0 km, testing several targets along a trend of high-grade boulder and outcrop samples within a NNW-SSE trending 300-400 m wide 2.5 km long corridor.

➢ Gold mineralization was intersected in 25 of 35 drillholes

➢ The best results include 63.90 g/t Au over 0.37 m, 5.50 g/t Au over 0.40 m and 3.08 g/t Au over 0.70 m.

Hinge Zone:➢ Blind target interpreted to be a tightly folded mafic unit based on the

ground magnetic geophysical anomaly with a strike length of ~1.5 km.

➢ Drillhole LN20042 intersected a fault zone starting at ~15 m downhole with individual samples assaying 30.70 g/t Au and 8.65 g/t Au.

➢ Planning for follow up drilling

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JV with B2Gold – Kutuvuoma, Ahvenjärvi, Sinermä projects

Kutuvuoma Project

➢ Limited exploration in 1990’s by Outokumpu

➢ Number of historic, high-grade gold intercepts include: 8.7 g/t Au over 16.0 m from 6.0 m; 12.7 g/t Au over 7.0 m from 26.0 m; 7.2 g/y Au over 19.4 m from 64.6 m

➢ Recent drill results (Aug 26, 2020): 12.28 g/t Au over 2.75 m from 28.15 m; 6.74 g/t Au over 5.60 m from 121.20 m

➢ High-grade gold has been intercepted in drilling over 1,080 m strike extent; mineralization remains open in all directions

➢ Rupert Resources’ recent Ikkari and Heina discoveries ~250 m from the property boundary and 8 km from Kutuvuoma within similar geologic setting

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➢ Several gold prospects within 25,000 ha land position

➢ B2Gold has an option to earn up to 75%

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District Scale, Attractive Jurisdiction

Aurion Resources - Discovering the Next Major Gold Camp

High-Grade, Near Surface Aligned Interests Between Shareholder, Stakeholders and

Management

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For Further Information Visit:www.aurionresources.comContact:Mark SantarossaVP Corporate Development(416) 371-1325msantarossa@aurionresources.ca