Aurion Resources Ltd.

March 28, 2011 08:00 ET

Aurion Closes Financing with Gammon Gold Inc

ST. JOHN'S, NEWFOUNDLAND--(Marketwire - March 28, 2011) - Aurion Resources Ltd. ("Aurion" or "Company") (TSX VENTURE:AU) is pleased to announce that it has closed a non-brokered private placement, with Gammon Gold Inc. ("Gammon"), for the issuance of 357,143 units at a price of US$0.70 per unit to raise aggregate gross proceeds of US$250,000. Each unit consists of one common share of Aurion and one half of one full share purchase warrant of Aurion. Each whole share purchase warrant will entitle the holder thereof to acquire one additional common share of Aurion at an exercise price of US$0.81 cents per share. The financing was conducted as a term of the recent option and joint venture agreement entered into by Gammon on Aurion's La Bandera gold project in Mexico (See Press release dated March 1, 2011).

All securities issued under the Offering will be subject to a four-month hold period from the date of issue until July 16, 2011. No finder's fee was paid in connection with the financing.

The proceeds of the financing will used for advancing existing projects, project generation and for general working capital.

About Aurion

Aurion is focused on early stage precious metals exploration in Mexico, Nevada and BC. Its strategy is to advance its projects to a stage which will attract potential joint venture partners. Aurion continues to evaluate other gold-silver projects for acquisition in Mexico, Nevada and globally.

Mike Basha, P.Eng., P.Geo., President and CEO of Aurion, is the Qualified Person as defined by National Instrument 43-101, and is responsible for the preparation of this release. 

Forward-Looking Statement

Certain statements contained in this release constitute forward-looking information. These statements relate to future events or future performance. The forward-looking information contained in this release is made as of the date hereof and Aurion is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information.

On behalf of the Board,

Michael Basha, President & CEO

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.

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