Aurion Resources Ltd.
TSX VENTURE : AU

October 16, 2008 18:40 ET

Aurion Appoints Michael Basha as President and Chief Executive Officer; Amendment to Property Option Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 16, 2008) - Aurion Resources Ltd. ("Aurion") (TSX VENTURE:AU) is pleased to announce the appointment of Michael Basha, P. Eng, P.Geo. as President and Chief Executive. Mr. Basha is currently a director of Aurion and will remain on the Board.

Mr. Basha is a seasoned exploration professional, with more than 22 years of domestic and international experience including research, fieldwork, and senior management experience in gold, base-metal and magmatic nickel-copper-platinum group elements. Mr. Basha was formerly Vice-President of exploration of Cornerstone Capital Resources Corp. Mr. Basha has been granted an option to purchase up to 100,000 common shares of Aurion at an exercise price of $0.25 per share for a period of five years with vesting provisions over a three year period.

Richard Graham, P.Geol., has resigned as President and Chief Executive Officer but remains on the board of directors of Aurion.

Aurion also reports that it has amended the terms of its May 4, 2007 option agreement to earn 100%, subject to a net smelter royalty, in the Kami gold-silver property located in British Columbia. Under the amended terms, Aurion has extended the time line of its work commitments on the Kami property by one year from November 4, 2008 to November 4, 2009. All the other terms as outlined in Aurion's prospectus dated August 27, 2008, which is available for viewing on www.sedar.com, remain the same.

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Aurion Resources Ltd.
    Michael Basha
    President and CEO
    (709) 699-8300
    Email: mgb@live.ca