Announcement • Jun 18
Aurbis Resources Corp. Announces the First Phase of Mapping and Rock Sampling Has Been Completed on the Ecru Gold Project Aurbis Resources Corp. announced that the first phase of mapping and rock sampling (P1) has been completed on the Ecru Gold Project, held by Aurbis Resources in Lander County, Nevada. The mapping project identified several Robertson-Style characteristics in an area interpreted as the contact aureole of the Ecru intrusion. These characteristics included areas of intense hornfelsing, brecciation, and silicification, all of which are associated with the Robertson-Style intrusion-related gold mineralisation. Robertson-Style mineralization is named for the Robertson deposit just 2 km away from Ecru. This 2.7- million-ounce gold discovery was acquired by Barrick in 2017 and is now headed to production under Nevada Gold Mines (Barrick/Newmont) within the famed Cortez Complex, one of the richest gold trends in the world. The P1 mapping program focused on the southwestern portion of the Ecru project, where outcrop exists. About 150 rock samples were also collected during this phase of work and will be submitted to the analytical laboratory in Reno, Nevada. The mapping and sampling program is aimed to better understand the alteration assemblage of the Ecru Gold Project in relation to the Robertson-Style intrusion-related gold mineralisation. The rock samples will undergo the full mineral suite analyses to support the visual geological mapping interpretations with geochemical data. The program data is being compiled and will be reviewed alongside the sample results. It is likely that a second phase of mapping and rock sampling will be undertaken in the near future. A field mapping and outcrop sampling program was completed on the southwestern portion of the Ecru property, and about 100 rock chip samples were collected. The aim of the mapping and sampling program was to better understand the distribution of alteration assemblages on Ecru, particularly in relation to the interpreted intrusion identified by magnetic surveys. A roughly north-striking fault divides the mapped area into two distinct zones. On the west of the fault, fine grey sandstone of the Elder formation is weakly altered and west-dipping. East of the fault, the rocks are intensely altered and south-dipping. East of the fault, a long exposure of brecciated, hornfelsed, interbedded Elder formation shows evidence of multiple phases of brecciation, where coarse, blocky collapse breccias are cut by strongly silicified, hydrothermal breccia. This hydrothermal breccia style was observed across multiple units over a wide area. New Risk • Jun 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (19% average weekly change). Market cap is less than US$10m (CA$3.86m market cap, or US$2.78m). Minor Risk Shareholders have been diluted in the past year (30% increase in shares outstanding). Board Change • May 06
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Ed Low was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
