Shareholder Announcement – May 29, 2024

Auryn Mining Corporation announced that its wholly-owned Chilean subsidiary, Auryn Mining Chile SpA, has successfully entered into a financing agreement with Strategic Investments S.A.C. for up to $4 million. The transaction demonstrates the company's ability to secure strategic capital for its South American operations during a period when many junior mining companies face challenging financing conditions.

The financing arrangement with Strategic Investments S.A.C. represents a significant capital injection that will support Auryn's ongoing activities in Chile, where the company maintains various mineral exploration and development interests. The structure as a subsidiary-level financing provides operational flexibility while maintaining the parent company's capital structure.

For the broader mining sector, this transaction highlights the continued availability of strategic capital for well-positioned companies with quality assets in stable jurisdictions. Chile remains one of the world's premier mining destinations, offering political stability, established mining infrastructure, and favorable regulatory frameworks that continue to attract investment capital.

The successful completion of this financing positions Auryn to advance its Chilean projects and potentially pursue additional opportunities in the region. The involvement of Strategic Investments S.A.C. suggests confidence in both Auryn's management team and the underlying value of its Chilean asset portfolio, which could serve as a positive signal for other junior mining companies seeking capital in the current market environment.