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AURYN Mining Corporation Signs Binding LOI with Hochschild Mining PLC

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AURYN Mining Corporation (OTC:CDCHD) is pleased to announce the signing
of a binding Letter of Intent ("LOI") with Hochschild
Mining PLC
, for the Las Dos Marias project ("LDM"). Please note, the
currently named LDM project is a consolidation of over 3,000 hectares
and is significantly larger than what has historically been known by our
shareholders as the LDM. (The LDM project
boundary map
is available on our website.)

This LOI gives Hochschild the option to invest US$7,000,000.00 into the
LDM project over a 5-year period to earn a 51% joint venture interest in
the LDM properties. An option to invest an additional US$23,000,000.00
is available to Hochschild to gain an additional 9% interest. If all
US$30,000,000.00 is invested, Hochschild will own 60% of the LDM project
with AURYN holding the remaining 40% as a joint venture partner. The LOI
is subject to further due diligence and the signing of a definitive
agreement.

We expect to sign the definitive agreement in the coming weeks with work
planned to begin on the property in early September 2018. The first step
on this project will follow Dr. Sillitoe's recommendations, which are
from his visit to the property mid-March 2017. An aggressive work plan
is scheduled to take place and the short-term goal is to have the
property ready for drilling to begin in early 2019.

Maurizio Cordova, CEO of AURYN, commented: "We are pleased to partner
with Hochschild. Although the project is still in the early stages of
exploration, we believe it has the potential to become a significant
gold / copper skarn project and we want our shareholders to have the
opportunity to participate in this if it comes to fruition."

AURYN will provide logistical support to Hochschild's work on the
project and will receive a net management fee for doing so.

For further information please visit our website, https://aurynminingcorp.com.

Forward-Looking Statements

This news release contains certain "forward-looking statements" within
the meaning of the United States Securities Exchange Act of 1934, as
amended. This forward-looking information includes, or may be based upon
estimates, forecasts and statements of management's expectations with
respect to, among other things, the completion of transactions, the
issuance of permits, the size and quality of mineral resources, future
trends for the company, progress in development of mineral properties,
future production and sales volumes, capital costs, mine production
costs, demand and market outlook for metals, future metal prices and
treatment and refining or milling charges, the outcome of legal
proceedings, the timing of exploration, development and mining
activities, acquisition of shares in other companies and the financial
results of the company. There can be no assurances that such statements
will prove to be accurate and actual results and future events could
differ materially and substantially from those anticipated in such
statements. Mineral resources that are not mineral reserves do not have
demonstrated economic viability. Inferred mineral resources are
considered too speculative geologically to have economic considerations
applied to them that would enable them to be categorized as mineral
reserves. There is no certainty that mineral resources will be converted
into mineral reserves.

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