Auramex Announces Corporate Update & Appoints Michael Marchand as Technical Advisor

CBJ Newsmakers

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VANCOUVER, British Columbia, Jan. 29, 2019 (GLOBE NEWSWIRE) — Auramex Resource Corp. (the “Company” or “Auramex”) (TSX.V: AUX) reports the appointment of Dr. Michael Marchand, P.Geol. as a Technical Advisor to the Company, the closing of a the non-brokered private placement announced December 20, 2018, extension of contract with Nancy Curry, Vice President, Corporate Development, and the grant of incentive options to Directors, Officers and Consultants of Auramex.

Appointment of Michael Marchand, P.Geol. as Technical Advisor
Dr. Marchand has worked as a geologist for over 50 years and is currently working as an independent mineral resource consultant in the areas of business development, innovation and mineral exploration strategies. He has over 20 years of public company experience having served as a director and in executive positions, including president. He has volunteered with a number of scientific and industry associations, including 12 years as a director with The Prospectors and Developers Association of Canada (PDAC) and continues to serve on the PDAC Securities and Geoscience committees. Dr. Marchand has operated in most provinces and territories in Canada and brings his wide experience with people, technologies, governments and institutions, along with the awareness of societal, environmental and governance issues in the industry to bear on the success of Auramex. Dr. Marchand holds a B.Sc. (Honours) and a M.Sc. in Geology from McGill University and a Ph.D. in Geology from McMaster University.

Close of Private Placement
Auramex also reports it has closed a third and final portion of the non-brokered private placement announced on December 20, 2018.  A total of 1,550,000 non flow-through units (“Units”) at a price of $0.05 per Unit have been issued for proceeds of C$77,500, bringing the total gross proceeds for this financing to C$269,000 (Tranche 1 $85,000; Tranche 2 $106,500; and Tranche 3 $77,500). Each Unit consists of one common share and one-half of one share purchase warrant (the “Warrants”).  Each whole Warrant will entitle the holder to purchase one additional Common Share at a price of $0.10 per Common Share until January 29, 2020.

Common shares issued in connection with this portion of the private placement and common shares issuable upon exercise of the Warrants are subject to a four-month restricted resale period until May 30, 2019.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.

The private placement is subject to the final approval of the TSX Venture Exchange.

Nancy Curry, Vice President, Corporate Development – Contract Extension
Further to the Company’s news release dated July 13, 2018, the Company reports it has extended the contract with Nancy Curry to provide investor relations until such time as 30 days notice is given by either party to terminate the contract.

Stock Option Grants
The board of directors reports the grant of 782,000 incentive stock options to officers and contractors of the Company under its stock option plan, in accordance with the Company’s compensation policy. The options are exercisable for five years at a price of $0.05 per share and are subject to the policies of the TSX Venture Exchange.

On behalf of the Board of Directors:

Lawrence Roulston
President & CEO

For further information, contact:       
Nancy Curry
VP Corporate Development                             

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.