Aurcana Announces Filing of Audited Financial Statements on SEDAR

Vancouver, BC, April 30th, 2020, Aurcana Corporation ("Aurcana" or the "Company") (TSXV: AUN, OTCQX: AUNFF) is pleased to report its audited financial results for the fiscal year ended December 31, 2019. The financial statements, along with the accompanying management discussion and analysis (MD&A),  have been filed on SEDAR (www.sedar.com) and the Company’s website (www.aurcana.com).

In addition, the Company’s Board of Directors has approved the issuance of incentive stock options to purchase an aggregate of 4,950,000 common shares to management, employees, directors, consultants and advisors to the Company. The options have a term of 5 years, with an exercise price per share of $0.55, which represents a 38% premium over the last closing price of Aurcana’s common shares on the TSX Venture Exchange and will vest over a period of three years.

The Company also announced that its annual general meeting, which is normally held in the second quarter of the year, will be postponed until later this year, pending a better understanding of conditions resultant from the ongoing COVID-19 pandemic. The Company’s preference is to hold an in-person meeting; however, if the COVID-19 pandemic persists into the end of the fourth quarter of this year, the Company will re-evaluate its alternatives, including potentially convening a virtual annual general meeting. Aurcana will continue to inform shareholders of events that affect its operations as a result of COVID-19 but to date all operations at the Revenue-Virginius Mine continue uninterrupted.

ABOUT AURCANA CORPORATION

Aurcana Corporation owns the Revenue-Virginius Mine, in Colorado, and the Shafter-Presidio Silver Project in Texas, US.  The primary resource at Shafter and Revenue-Virginius is silver.  Both are fully permitted for production.

ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA CORPORATION

“Kevin Drover”, President & CEO

For further information, visit the website at www.aurcana.com or contact: