­ Aurania Resources Ltd. reports that though significant copper mineralization was intersected in the last three boreholes drilled on the Tsenken N2 and N3 targets, no economic grades were encountered. Copper and pathfinder elements increase in grade from Tsenken N2, through N3, towards the northeast, corroborating the vector determined from geological studies of the drill core. Data from the on-going Mobile MT geophysical survey have now identified the likely centre of the Tsenken North system located along-trend of the vector, approximately 1.5 kilometres to the north of the area in which holes TS-001 to TS-006 were drilled. The Tsenken North target area is located in Aurania's Lost Cities ­ Cutucu Project in southeastern Ecuador. A total of 1,891 metres were drilled in the Tsenken N2 and N3 targets. The last hole, TS-006, reached a depth of 522m. Copper and pathfinder elements increase in grade from Tsenken N2, through Tsenken N3, towards the northeast, confirming the vector determined from alteration minerals observed in the drill core. In addition, results from the ongoing MMT geophysical survey identified two closely ­ spaced conductive features that are likely to be the sulphide-rich centres of the target area, which lies approximately 1.5 kilometres ("km") to the north of the area in which holes TS-001 to TS-006 were drilled (Figure 1). The conductive features have roots that extend vertically downwards to at least 700m below surface. The conductive zones related with Tsenken N2 and N3 are too far from the current exploration camp to be serviced by it and a new camp is needed to support further scout drilling there. In the meantime, another camp has been established to support drilling of the Tsenken N1 target. Heliborne MMT has been flown over the Yawi and Tsenken areas and is now underway in the northern part of Tiria-Shimpia. Initial results have surpassed the Company's expectations ­ these new data dovetail and complement geophysical features from the prior magnetic survey, as well as observations from the field and soil and rock-chip sample results. The MMT survey is being undertaken by MPX Geophysics Ltd. in association with Expert Geophysics Limited, both of Toronto, Canada. The current planning for exploration of the various targets in the Lost Cities ­ Cutucu Project is as follows: Evaluate the cost-effectiveness of extending the MMT survey to completely cover features that extend beyond the margins of the blocks flown at Yawi and Tsenken, and consider flying MMT over targets that were not originally scheduled to be flown. Commence drilling of the Tsenken N1 breccia target. Plan the continuation of scout drilling of more clearly-defined targets at Yawi, based on results from the MMT survey after the hiatus there. Prepare the first of the targets within the Tiria-Shimpia silver-zinc-lead system for scout drilling. Continue with reconnaissance exploration. This plan is subject to change, as results come in from the MMT survey and targets are shuffled in priority.