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ST. JOHN'S, NL, March 22, 2023 /CNW/ - Aurion Resources Ltd. (TSXV: AU) (OTCQX: AIRRF) ("Aurion" or the "Company") is pleased to announce that it has entered into a letter agreement (the "Agreement") with Red Cloud Securities Inc. ("Red Cloud") to act as lead agent and sole bookrunner on behalf of a syndicate of agents (collectively, the "Agents") in connection with a fully marketed, private placement for the sale of up to 9,090,909 common shares of the Company (the "Offered Shares") at a price of C$0.55 per Offered Share (the "Offering Price") for gross proceeds of up to C$5,000,000 (the "Offering").