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Auryn Resources to file updated Technical Report for Committee Bay

by pmnationtalk on June 16, 201756 Views

Vancouver, British Columbia – June 15th, 2017 – Auryn Resources Inc. (TSX: AUG, OTCQX: GGTCF, “Auryn” or the “Company”) announces that it will be filing an updated technical report for the Committee Bay project (the “Report”) prepared by Roscoe Postle Associates Inc (“RPA”). During the process of updating the Report, the Company reviewed the previous resource model and confirmed that there have been no material changes. The current resource for the Three Bluffs deposit is now presented as follows:

Table 1: Update Mineral Resources for the Three Bluffs Deposit as of May 31, 2017

Class Type Cut-Off Tonnes Gold Grade Contained Gold
(g/t Au) (000 t) (g/t Au) (oz Au)
Indicated Near Surface 3.0 1,760 7.72 437,000
Underground 4.0 310 8.57 86,000
Total 2,070 7.85 524,000
Inferred Near Surface 3.0 590 7.57 144,000
Underground 4.0 2,340 7.65 576,000
Total 2,930 7.64 720,000

Notes:

  1. CIM definitions were followed for Mineral Resources.
  2. Mineral Resources are estimated at cut-off grades of 3.0 g/t Au for open pit and 4.0 g/t Au for underground.
  3. Mineral Resources are estimated using a long-term gold price of US$1,200 per ounce, and a US$/C$ exchange rate of 1:25.
  4. Nominal minimum mining widths of five metres (near surface) and two metres (underground) were used.
  5. Numbers may not add due to rounding.

The Mineral Resource estimate was prepared by RPA for the Three Bluffs deposit as of May 12, 2017. The Mineral Resource is based on work by RPA in 2013 and new cut-off grades based on updated metal price, exchange rate, and operating costs.

ON BEHALF OF THE BOARD OF DIRECTORS OF AURYN RESOURCES INC.

“Shawn Wallace”
President and CEO

For further information on Auryn Resources Inc., please contact Jay Adelaar, Vice-President of Investor Relations at (778) 729-0600 or info@aurynresources.com

About Auryn

Auryn Resources is a technically driven junior mining exploration company focused on delivering shareholder value through project acquisition and development. The Company’s management team is highly experienced with an impressive track record of success and has assembled an extensive technical team as well as a premier gold exploration portfolio. Auryn is focused on scalable high-grade gold deposits in established mining jurisdictions, which include the Committee Bay and Gibson MacQuoid gold project’s located in Nunavut, the Homestake Ridge gold project in British Columbia and a portfolio of gold projects in southern Peru, through Corisur Peru SAC.

NT3

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