Auramex Closes Private Placements

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VANCOUVER, British Columbia, Dec. 03, 2018 (GLOBE NEWSWIRE) -- Auramex Resource Corp. (the "Company" or "Auramex") (TSX.V: AUX) reports that the non-brokered private placements announced on August 17, 2018 and October 4, 2018 have closed. Under Tranche 2 of the flow-through private placement the Company has issued 2,206,000 flow-through common shares at a price of $0.05 per share for proceeds of $110,300.  In respect of the Unit private placement, 800,000 Units at a price of $0.05 per Unit (the "Units") have been issued for proceeds of $40,000.  Each Unit consists of one common share and one-half of one share purchase warrant (a "Warrant").  Each Warrant entitles the holder to purchase one additional common share at a price of $0.10 until November 29, 2019.  Total proceeds raised from the two private placements were $267,150.

Finder's fees of $600 were paid to Haywood Securities Inc. in connection with the Unit financing.

Common shares issued in connection with these private placements and common shares issuable upon exercise of Warrants are subject to a four-month restricted resale period until March 31, 2019.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.

On behalf of the Board of Directors:

Lawrence Roulston
President & CEO

For further information, contact:
Nancy Curry
VP Corporate Development                                          
[email protected]      
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.