Aurion Resources announces strategic partnership with KoBold Metals

Aurion Resources Ltd. has made a press release informing that it has entered into a definitive agreement with KoBold Exploration Finland Oy, a subsidiary of KoBold Metals Company, granting KoBold the right to earn a 75% interest in approximately 35 km² in the eastern portion of Aurion’s 160 km² Risti Property.

Strategic partnership

Based on the agreement KoBold can earn a 75% interest in base metal and critical mineral discoveries (excluding predominantly gold or silver discoveries) by investing $12M USD in exploration over five years, including a $1M minimum expenditure in the first 18 months. Moreover, upon satisfying earn-in requirements, a joint venture will be formed with KoBold holding 75% and Aurion retaining 25% ownership. If ownership in the joint venture falls below 10%, it will convert to a 2% Net Smelter Returns Royalty. Aurion retains full exploration and ownership rights over areas with significant gold or silver discoveries.

Executives statements

Matti Talikka, CEO of Aurion, commented: “The agreement with a split commodity structure enables Aurion to retain full exploration and ownership rights over significant gold and silver discoveries while leveraging KoBold’s expertise in exploration for metals and minerals important for the green energy transition. The base metal prospectivity of the region is well evidenced by the Kevitsa Ni-Cu-PGE Mine (Boliden) and the Sakatti Ni-Cu-PGE discovery (Anglo American) located 12 km from the Risti property.”

Daniel Enderton, Chief Strategy Officer of KoBold Metals, added: “We welcome the opportunity to work with Aurion to explore for critical metals on part of their Risti property. Aurion is a reputable, experienced company with strong operating capabilities. We look forward to combining these experiences and operating capabilities with KoBold’s team and technologies to search for a new discovery on this property.  We are looking forward to getting the exploration teams on the ground in the coming months”