Auxico Announces Additional Results from Sampling Program on Company-Controlled Property in Colombia

MONTREAL, Sept. 21, 2021 /CNW Telbec/ - Auxico Resources Canada Inc. (CSE: AUAG) is pleased to announce additional results of a recent sampling program that was conducted by the Company's Qualified Person ("QP"), Joel Scodnick, P.Geo, on the Company-controlled property in the department of Vichada, in Colombia. Recent sample result confirmed a total rare earth oxide content of 59.70%, as presented in the table below (Sample no. S00357793). This new sample is a 2.5 kilogram composite bulk concentrate sample taken from two different trenches and concentrated from approximately 3 tonnes of material from Area 50. It is therefore more representative than previous selected samples.

Rare Earth Element	Symbol	Grade (%)
Cerium	CeO2	38.68
Neodymium	Nd2O3	7.27
Lanthanum	La2O3	6.91
Samarium	Sm2O3	2.20
Praseodymium	Pr2O3	2.07
Gadolinium	Gd2O3	1.10
Ytterbium	Yb2O3	0.95
Dysprosium	Dy2O3	0.48
Yttrium	Y2O3	0.04
Erbium	Er2O3	0.01
Total Rare Earth Oxide Content		59.70

Additionally, 15 samples representing concentrates were taken during the same sampling program on the property and averaged as follows:

Element	Titanium	Iron	Zirconium	Niobium	Hafnium
Symbol	TiO2	Fe2O3	ZrO2	Nb2O5	HfO2
Average Grade (%)	24.53	23.09	7.97	0.20	0.24

These samples were taken from surface down to 2-3 metres. Most of the pits contained significant amounts of water due to the monsoon season, with a rise in the water table, therefore prohibiting sampling of the lower part of the alluvial beds where the denser minerals such as niobium, tantalum and rare earths are more likely to be found. These 15 samples are located 1.3 kilometres southeast of Area 50, where high-grade rare earth elements have been found on the Company-controlled property, with a total rare earth content of 56.87%.

Recent samples were analyzed by the laboratory Alpha 1 in Bogota, Colombia. All samples except one are panned concentrates of gravels, where most of the lighter minerals have been washed away with water. The results presented in this news release are grades of these panned concentrates and not head grades except for one of the samples. Additional laboratory results on samples from the property were the subject of previous news releases published by the Company on May 28, 2021, June 24, 2021, August 25, 2021, and September 9, 2021 respectively.

In addition, the independent lab Coalia, based in Thetford Mines, Quebec, conducted initial small-scale metallurgical tests on these samples. These tests demonstrated a potential for magnetic separation, with almost 85% of the titanium recovered in the concentrate.

Uses of titanium

Titanium is as strong as steel but weighs about half as much. It is twice as strong as aluminum but only about 60% heavier. Titanium combines with iron, aluminum, vanadium, nickel, molybdenum and other metals to produce high-performance alloys. Jet engines, spacecraft, military equipment, bearings, body armor, and other high-tech products need parts made with these alloys. Titanium is on the List of 35 minerals deemed critical to U.S. National Security and the Economy, released by the U.S. Department of Interior in 2018.

About Auxico Resources Canada Inc.

Auxico Resources Canada Inc. ("Auxico") is a Canadian company that was founded in 2014 and based in Montreal.  Auxico is engaged in the acquisition, exploration and development of mineral properties in Colombia, Brazil, Mexico and the Democratic Republic of the Congo.

Additional information on Auxico can be found on the Company's website (www.auxicoresources.com) or on SEDAR (www.sedar.com) under "Auxico Resources Canada Inc."

QUALIFIED PERSON

This news release was reviewed and approved by Joel Scodnick, P.Geo., an independent consultant to Auxico, in his capacity as a Qualified Person, as defined by National Instrument 43-101. The sample results provided in the tables of this press release were selected by Joel Scodnick.

Disclaimer: The samples provided in this press release were selected under the supervision of the Qualified Person, and therefore comply with National Instrument 43-101. These samples were hand-delivered  to Alpha1 lab in Bogota, Colombia by the QP. The QP recently completed a two-week site visit to the Minasti property in Puerto Carreño, Vichada Department, Colombia. It is the opinion of the Qualified Person that the values represented by the samples taken by the QP are in compliance with NI 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

SOURCE Auxico Resources Canada Inc.

Pierre Gauthier, CEO, Auxico Resources Canada Inc., [email protected], Cell: [phone]; Mark Billings, President, Auxico Resources Canada Inc., [email protected], Cell: [phone]