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Auramex Announces a New Director Appointed to the Board and Grants Incentive Stock Options

VANCOUVER, British Columbia, July 08, 2019 (GLOBE NEWSWIRE) -- Auramex Resource Corp. (the “Company” or “Auramex”) (AUX.V) announces the appointment of Richard Savage to the Board of Directors and grants incentive stock options.

Lawrence Roulston, President and CEO commented: “Following a highly successful career in capital markets, Richard has transitioned to the corporate world. His company – Crystal Lake Mining, in a remarkably short period of time has become a leading explorer in the Eskay Camp of the BC’s Golden Triangle. Richard’s capital markets and corporate expertise will be an important complement to the Auramex management and geological team, which is focused on the Stewart Camp of the Golden Triangle.”

Richard Savage began his career as an Investment Advisor at Yorkton Securities (which became Richardson GMP) in 1988 and remained there 28 years. Richard was consistently one of the top producing advisors. Yorkton was one of the leading mining and technology investment firms in Canada. Throughout his career he served and managed a diverse client base of over 2000 accounts and was responsible for raising funds for Initial Public Offerings, Private Placements and Capital Pool Companies.

Richard believes in giving back to the community and served on Macquarie Group Foundation’s Board of Directors from 2009 to 2012. He is a former Director (20 years) of Artists For Kids, which provides art education for the children of British Columbia. In addition, he is a current Director (7 years) of The Gordon and Marion Smith Foundation, which supports and encourages community engagement in the arts.

Richard Savage commented: “I look forward to helping Auramex add value to the extensive property it has amassed in this highly prospective region. The company has a highly experienced geological team that is on track to unlock the value of its multiple high-potential targets.”

Stock Option Grants

The board of directors has granted 1,925,000 incentive stock options to officers, directors and contractors of the Company under its stock option plan, in accordance with the Company's compensation policy. The options are exercisable for five years at a price of $0.06 per share and are subject to the policies of the TSX Venture Exchange.

Correction to Non Brokered Private Placement

The private placement announced July 5, 2019, is corrected as follows: The non-brokered private placement will consist of up to 10,000,000 (not 5,000,000) units at $0.05 per unit. Each unit will consist of one common share of the Company and one common share purchase warrant. Each whole warrant will be exercisable for one common share of the Company at a price of $0.07 for a period of 18 months from the date of issuance. The proceeds of the financing are to be used for exploration and development of the Company’s properties and for general corporate costs.

Subject to the approval of the TSX Venture Exchange and applicable laws, the Company may pay finder’s fees.  Certain of the Company's insiders may participate in the private placement.

About Auramex Resource Corp.

Auramex is focused on exploring a large and highly prospective property portfolio in the Stewart Camp, at the southern end of the Golden Triangle in British Columbia. Auramex has 200 square kilometres of mineral rights, located on or near roads and centered on the deep-water port of Stewart. The Company’s geological team has extensive knowledge in the Golden Triangle and are dedicated to maximizing exploration success by deploying a systematic and comprehensive exploration approach, that uses and fuses “traditional” and emerging, cutting-edge exploration techniques.

On behalf of the Board of Directors:

Lawrence Roulston
President & CEO

For further information, contact:       
Nancy Curry
VP Corporate Development                                      
info@auramex.com    
www.auramex.com.

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.