Exploration Co. Finds 4.3M Ounce Resource of High-Grade at Ecuador Project

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Auro Metals Inc. (AURO:TSXV; AURFF:OTCPK) released assay results from the first three drill holes of its 2026 Phase 1 drill program at the Santa Barbara gold-copper project in the Zamora-Chinchipe province of Ecuador. So far, 12 drill holes have been completed since the program began on April 14, 2026, and the remaining nine holes are still pending results.

Current assay results include:

• Drill hole DSB-54 intersected 705.7 meters (m) grading 0.61 gram per tonne (g/t) gold (Au) and 0.1%  copper (Cu), from surface, including:
• 235 m grading 0.97 g/t Au and 0.11% Cu from surface;
• This drill hole is fully mineralized and ended in mineralization.
• Drill hole DSB-55 intersected 246 m grading 0.56 g/t Au and 0.09% Cu, from surface, including:
• 155.5 m grading 0.73 g/t Au and 0.11% Cu, from 31.5 m.
• Drill hole DSB-56 intersected 134 m grading 0.67 g/t Au and 0.09% Cu from surface, and 24 m grading 0.89 g/t Au and 0.07% Cu from 164.5 m.

The company is pleased to announce that all three holes intersected mineralization, with Auro's CEO, Victor Feng, saying: " These first three holes drilled at Santa Barbara South from our phase I drill program speak to the scale and consistency of the project. DSB-54 intersected over 700 meters of continuous gold-copper mineralization starting from surface and ended in mineralization at depth. DSB-55 and DSB-56 both confirm that mineralization remains open in the updip direction towards surface. With nine more holes pending assays and four rigs turning at site, we look forward to continuing to share assay results as they become available. Following the Phase 1 drill program, we plan to dovetail into a planned Phase 2 drill program designed to continue expanding the known system and to test new targets nearby."

Formerly known as Tincorp Metals Inc., Auro Metals Inc. is an exploration company that worked with Silvercorp to acquire Santa Barbara Metals Inc., which holds a 100% interest in the Santa Barbara Gold-Copper Project and the Zamora Copper-Gold Belt in southeastern Ecuador. The company also owns 100% of the Porvenir Project and will acquire a 100% interest in the nearby SF Project in Bolivia.

Strong US Dollar Affecting Metals

Gold surged to a record high earlier in the year, hitting a high of over US$5,000 per ounce in January. Since then, gold rates have been slowly lowering, but many expect the rally to resume once international conflict cools down. 

In April, S&P Global wrote, "Gold is expected to remain volatile but structurally supported, with central bank demand and geopolitical risk helping to establish a price floor above recent correction lows."

On June 24, 2026, that meteoric rise crashed below US$4,000 per ounce, down 3.19% from the previous day to US$3,978.80 per ounce. Some experts are blaming a rise in the value of the U.S. dollar after inflation rose, with the dollar pressing a 52-week high near 101.71.

Despite the volatility of gold, the sector as a whole is only showing signs of improvement. On May 7, 2026, Brian Taylor of Recycling Today said that the World Bank Group has predicted that overall global metals prices will rise by 17% in 2026, which would mark the first overall market increase since 2022.

Demand for copper is expected to rise due to continued use in electronics, especially with the widespread construction of new data centers and defense needs America is experiencing. A report from Businessworld claimed that "global copper demand is gradually shifting towards strategic and less price-sensitive sectors such as AI infrastructure, defense, power grids, and clean energy systems. By 2040, these categories are expected to account for nearly 45% of total copper demand, up from 32% in 2024."

Copper has experienced some volatility this year. While a bull market for traders, physical products are trending toward a bear market due to potential tariffs. Last year, the looming potential of President Donald Trump's tariffs surged copper prices in the U.S. as American investors stockpiled the metal.

This hype created an overstocking of copper, widening the gap between futures and physical worth. "Collectively, inventories at the world's main exchanges have risen by more than 500,000 tons since the start of the year," stated a March 6 article by Bloomberg News. The imagined certainty of inaccessible copper due to tariffs evaporated, however, when premiums for U.S. copper futures disappeared, and the tariffs did not materialize. Trump may choose to impose tariffs next year, but analysts and investors are skeptical since his administration chose to forego them in January 2026.

Expert Calls Out Advanced-Stage Opportunity

On June 23, 2026, Chen Lin of What is Chen Buying? What is Chen Selling? commented on the latest drill results, saying: "AURO.v reported last night 705.7 m of 0.61g/t gold, including 235 m of 0.97g/t from the surface. 

This is on a similar scale to the recent Arras Minerals Corp. (ARK:TSX.V; ARRKF:OTCMKTS) drill hole. AURO already has a resource of 4.3 million oz of gold and is in a more advanced stage, while its market cap is lower than ARK's." 

More Results to Come

According to Auro's investor presentation, upcoming company catalysts include the continuation of the Phase 1 drill program in Q2 of 2026, with further results anticipated to be released as soon as possible.

Ownership & Share Information¹

Auro Metals Inc. has a market cap of CA$164.93 million, with 130.89 million shares outstanding. The company's 52-week range is CA$0.14-CA$1.53.

Institutions own 0.02% of shares, while Strategic Investors own 27.30%. Management & Insiders own 15.74%, and the remaining 56.94% of shares are held by Retail.