CORPORATE PRESENTATION

May 2020

TSXV AUL

CAUTIONARY STATEMENT

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This Presentation includes and is based information and statements, other than statements of historical fact, which are “forward-looking information” within the meaning

of applicable securities laws that could causeactual results to differ. Aurelius Minerals (the “Company”) provides forward-looking statements for the purpose of conveying

information about current expectationsand plans relatingto the future and readers are cautioned that such statements may not be appropriate for other purposes. By its

nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts,

predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be

achieved. Factors that might causeor contribute to such differences include, but are not limited to, economic conditions globally, the impact of competition, political and

economic developments in the countries in which the Company operates, regulatory developmentsdomesticallyand internationallyand changes in the exploration market

and precious metal prices. These expectations, estimates andprojections are generally identifiable by statementscontainingwords such as "expects", "anticipates",

"targets", "goals", "projects", "intends","plans", "believes", "seeks", "estimates", variations of such words, and similarexpressions. Important factors that could causeactual

results to differmaterially from those expectations include, amongothers, economic and market conditions in the geographicareas and industries that are or will be major

markets for the Company’s businesses, precious metal prices, the Company’s ability to obtain and maintain necessary licences, permits and authorizations for planned

exploration and development of its properties, includingnecessary authorizationsand consents of aboriginal interest holders, proposed work programs on the Company’s

properties, changes in governmental regulations, interest rates, fluctuations in currency exchange rates andsuch other factors as may be discussed from time to time.

The Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking

information, however there may be other factors thatcause actions, events or results not to be as anticipated,estimatedor intended.There can be noassurance thatsuch

information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Although the Company believes

that its expectations and the information in this Presentation were based upon reasonable assumptions at the time when they were made, it can give no assurance that

those expectations will be achieved or that theactual results will be as set out in this Presentation. The Company is not making any representationor warranty, expressed or

implied,as to the accuracy, reliabilityor completeness of the informationin the Presentation,and neitherthe Company norany of its directors, officers or employees will

have any liability to the reader or any other persons resulting from the reader's use of the informationin the Presentation.The Company undertakes no obligation to publicly

update or revise any forward-looking information or statements in the Presentation. The reader should consult any further disclosures the Company may make in

documents it fileswith the applicable securities regulators.

The Presentation is intended informationalpurposes only and does not replace independentprofessional judgment. Statements of fact and opinions expressed are those of

the participants individually. The information is not designed to providefinancial, tax planning, accounting, investment, business or legal advice, in any way whatsoever.

The reader should consult with a lawyer, accountantand other professionalsin respect of contents hereof. Furthermore, the information in no way should be construed or

interpreted as, or as a part of, an offering or solicitation of securities. Investors are advised to discuss any trading with a registered securities broker or personal finance

professionalprior to investing.

The technical information contained in this presentation has been reviewedand approved by Jeremy Niemi, P.Geo., who is a Qualified Person as defined under NI 43-101.

As Vice President, Exploration, Mr. Niemi is not considered independent.

2nd Largest claim holder in the

Northern Abitibi Greenstone Belt

Ontario is a top ranked mining

jurisdiction with excellent access

and infrastructure

Abitibi Greenstone Belt is the

largest greenstone belt in the

world (>180 Mozof production)

Large Land

Package in Tier1

Jurisdiction

High Grade Gold

Discovery with

tremendous upside

Recent AcquisitionofHigh-Grade past producing

mine in Nova Scotia

Mikwam project adjacent to Hecla’s

Casa Berardi mine has returned broad,

high grade intervals

26.1m @ 7.1 g/t Au in Hole Aul18 -15

Aureus properties in NS have excellent infrastructure

and access allowing our team to work year-round

Geologic setting is analogous to Kirkland Lake’s high

grade Fosterville mine

AURELIUS OPPORTUNITY

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AUREUS MINE PROJECT

AUREUS EAST is the site of a high

grade past producing mine.

Well maintained infrastructure allows

for great access year round.

Mineralization is open in all directions

AUREUS WEST presents a unique

open pit target. Drilling to date has

shown the presence of significant

mineralization that is open

for expansion

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Bendigo Gold Fields Analogue

>20M oz produced to date out of

the Bendigo gold Fields.

Folded Saddle Reef system is like

Kirkland Lake Gold’s Fosterville

mine. Currently the highest-grade

lowest cost producer globally.

Drilling to date at Aureus has been

tightly focused along 1.4km of

strike. Opportunity exists to expand

laterally into mineralized fold limbs

and at depth to discover additional

high-grade saddles.

UNDERGROUND HIGH GRADE

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FUTURE PLANS

Future Plans to Continue

Development at Aureus East

Aurelius plans to grow Dufferin East to contain 500 koz Au

Measured & Indicated. Project anticipates finding high grade

saddles at depth. Current drilling at depth only intersecting limbs.

PHASE 1 Confirm Presence of High Grade Saddles at Depth

5,000m underground drilling C$1.25M

PHASE 2 Upgrade Current Inferred Resources toM&I

8,000m surface drilling C$2M

5,000m underground drilling C$250K

PHASE 3 Upgrade High Grade Saddles at Depth to M&I

25m spacing and 10,000m of drilling C$250K

Implied Budget C$6.5M

Develop Aureus West

to confirm in pit ounces

Future plans include growing the mine to contain

250 koz Au Measured & Indicated

PHASE 1 Upgrade known area of mineralization to M&I

5,000m C$1.25M

PHASE 2 Grow deposit along strike anddepth

5,000m C$1.25M

PHASE 3 Establish M&I Resource on expanded deposit

10,000m C$2.5M

Implied Budget C$5M

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OTHER PROJECTS

Close Proximity to 58N. The Lipton

claims are contiguous to Kirkland Lake

Gold’s 58N high grade discovery south

of the Detour Lake Mine.

Two zones of anomalous gold

concentrations have been identified

in historical exploration drilling on the

Lipton property. The highest historical

gold concentrations are coincident

with the contact between sediments

and felsic tuffs.

Significant intersections from historical

programs include 10.7 g/t Au over 9.0

metres, reported in 1996; and 14.10 g/t

Au over 7.7metres, reported in 2006.

Close Proximity to Infrastructure

Tangier is located directly on the highway,

providing efficient, low cost access to

transportation.

Upside Potential of Addition High Grade

Resources in SurroundingAreas

Area B shows good grades continuing to

the west of the resources. Area C shows a

good intercept to the east of the resources.

Combined, Area B and C provide for

significant future potential for Tangier

Unmodeled, High Grade Resources

Strawberry Hill Zone to the east,

unmodeled, best intercept 13 g/t over

4.4m. Corrected, it would add additional

high grade resources and improve the

valuation of the project.

Future Exploration Potential

Based on available information, Forest

Hill veins have only been modestly

explored up – or down – dip from the

mine workings providing for future

exploration opportunities

High Grade Resources

There are a cluster of grades

discovered to the north-east of the

main trend

Cheap Resource Growth

Mines with high grade resources that

remain undrilled. Some samples appear

to be poorly taken above and below.

Checks of assays contain noerrors,

availability of assay certificates and

core confirmation could result in a

cheap, growth opportunity.

Lipton

(Northern Abitibi, ON)

Tangiers

(Nova Scotia)

Forest Hill

(Nova Scotia)

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Tangiers

4.4m @13g/t Au

ABITIBI GREENSTONE BELT

Largest Greenstone

Belt in the WorldOver 180Moz Au, 35Blbs Zn, 15Blbs Cu,

and 400Moz Ag produced to dateNumerous producing and

past producing mines

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MIKWAM PROPERTY

Strategically located along the structural

trend that cuts through Hecla’s Casa

Berardi mine (3.75Moz Reserves and

Resources), towards Osisko Mining’s

Windfall Lake (5.1Moz indicated

and Inferred)

Recent drill program intersected highest

grade broad intercept of gold in project

history (26.1m @ 7.1g/tAu)

100% of drilling intersected strong

mineralization highlighting tremendous

upside

Current Inferred Resource – 136,000 oz Au,

1.8Mt @ 2.34 gpt open for expansion in

all directions

MIKWAM 3D MINERALIZATION

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MIKWAM GEOLOGY

The Mikwam Property lies in the Harricana-Turgeon beltwithin the

northern portion of the Abitibi greenstone belt, this belt hosts

polymetallic deposits and multimillion-ounce gold depositssuch as

the Eagle mine, the Casa-Berardi mine and the Detour mine.

Recentexploration has concentrated on theA8 3200 vein system

which consists of a zone of quartz flooding, silicification, and

sulphidization which lies at or near the contact of chloritic iron

formation and either argillite or conglomerate. Medium to coarse

grained cubic pyrite and coarse grained arsenopyrite within a

highly sericitized, quartz flooded matrix comprises the bulk of the

mineralized gold zone.The best gold values tend to be associated

with pyrite containingvugs.

Mikwam and the Casa Berardi mine are both situatedon

Casa BerardiDeformation Zone (CBDZ).

MIKWAM EXPLORATION CROSS SECTION 2305E (Thickness: 40m)

AUL-18-17

AUL-18-16

AUL-18-15

AUL-18-14

AUL-18-13

AUL-18-12

AUL-18-11

AUL-18-18

26.1m @ 7.1 g/t AuIncl. 5m @ 11.8 g/t AuIncl. 1m @ 24.3 g/t Auand 7.2m @ 9.4 g/t Au

11.5m @ 8.2 g/t AuIncl. 6.5m @ 12.0 g/t Au

6.0m @ 5.3 g/t AuIncl. 2m @ 13.9 g/t Au

11.5m @ 3.0 g/t AuIncl. 5.5m @ 5.2 g/t Au

12.5m @ 0.6 g/tAu

6.5m @ 2.4 g/t Au

21.5m @ 4.2 g/tAuIncl. 5m @ 10.5 g/t Au

35.8m @ 1.6 g/tAu

8.1m @ 1.5 g/t AuIncl. 1m @ 9.9g/t Au

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CASA BERARDI DEFORMATION ZONE

The Casa Berardi Deformation

Zone (CBDZ) is a major,

subvertical regional structure

4 to 6 km wide and at least 60 km

in length. The CBDZ is crosscut

at low angle by the Casa Berardi

fault which is a brittle, schistose

zone 0.5 to 5 m thick

The structure is also responsible

for the gold mineralization

at the Casa Berardi Mine

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MIKWAM PROPERTY SCALE STRUCTURES

These folds controls orientation and periodicity

of high-grade gold zones

Property scale structure is defined by airborne

mag as a series of Z- shaped folds

MIKWAM LONGITUDINAL SECTION

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UPCOMING EXPLORATION

PHASE 4

Expand deposit based IPSurvey

10,000m C$2M

PHASE 5

Establish a Revised 43-101resource

of >750koz M&I

10,000m C$2M

NI 43-101 C$250K

Implied Budget C$4.25M

MIKWAM EXPLORATION CROSS SECTION 2275E (Thickness: 20m)

AUL-18-06

16.1m @ 0.7 g/tAu

Incl. 9m @ 1.1 g/t Au

AUL-18-07

AUL-18-19

22m* @ 3.7 g/t Au

Incl. 10m @ 7.2 g/t Au

Incl. 1m @ 30.2 g/t Au

*hole ended inmineralization24.5m @ 2.3 g/t Au

Incl. 4m @ 3.8 g/t Au

And 9.4m @ 3.3 g/t Au

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EQUITY STRUCTURE AND CAPITALIZATION

CAPITALIZATION AND BALANCE SHEET (C$)

Share Price $0.075

Basic Shares Outstanding 151.31M

Options Outstanding 8.69M

Warrants Outstanding 68.39M

Basic Market Capitalization $11.3M

Cash ~$1.0M

Total Debt –

TOP 5 SHAREHOLDERS

Sprott Inc.

Marquest Mutual Funds

Sentry Investments

Mark Ashcroft

US Global Investors

Total Institutional ~35%

17%Friends and Family

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3.5%Marquest Mutual Funds

5.2%Sentry Investments

AURELIUS OWNERSHIP

19.9%Sprott Inc.

42.4%Other

12%Board and Management

Management

30 years of experience in the global miningindustry and the

North Americanand Europeandebt and equity markets.

Mark served asPresident andChief Executive Officeranda Director

of StonegateAgricomLtd. from August 2008to September 2014.

Mr. Ashcroftwas a memberof the Mining andMetalsTeam atStandard Bank’s New York office and Barclays Capital in London

before becomingManaging Director andHead of investmentbanking

for a boutique institutional firm in Toronto where he became

ManagingDirector andHead of Investment Banking.

As a professionalengineer Mark has workedin variousoperating

roles in Northand South America andAustralia withVale

(formerly Inco).

Mark holds his Bachelor of Engineering (Mining) from Laurentian

University and a Master’sof Science (Finance, Regulationand Risk

Management) from the ISMACentre of theUniversity of Reading.

20 years of extensive financial and commercial experience

predominantly in the mining and resource industry, successfully

leading financeteamsthroughdifferent stagesof project financing,

construction andoperations.

Ms. Coombs previously was theVicePresident andChief Financial

Officer for StonegateAgricomLtd. and was responsiblefor

overseeing its IPO.

Ms. Coombs is a chartered professional accountant and certified

management accountantand holdsa Bachelor ofCommercefrom

Memorial University of Newfoundland.

+30 years of in-houselegal andcorporate secretarial experience

in the miningsector.

Previously as Vice President,Secretary and General Counselfor

Stonegate AgricomLtd.Was instrumentalin its IPO.

Was Assistant Secretary of Thompson Creek Metals Company Inc.

from May 2007 to May 2011(acquiredby Centerra Gold in a deal

valued at $1.1B USD).

Ms. MacGillivray received undergraduatedegrees from MountAllison UniversityandQueens Universityand earned her LL.B. from

the University of New Brunswick before being called to the bar by

The LawSociety of Ontario in 1983.

Geologist with +20years ofprogressively seniorexperience

in miningexplorationand development.

Prior to joining Aurelius Minerals Mr. Niemi successfully increased

resources and reserves at both GoldQuest and Noront Resources

where he also servedas VP, Exploration.

Mr. Niemi is a member of the Association of Professional

Geoscientistsof Ontarioand holdsa BScHonoursdegree

in Earth Sciencesfrom Laurentian University.

Geologist with +10years of progressively senior industry and

capital marketsexperience.

Prior to joiningAurelius Minerals, as theDirectorof CorporateDevelopment for GTGoldwas involvedin raisingover $30Mdolars

and attracting a strategic investmentby NewmontMining.

Previous to this, Mr. Singh was a mininganalystat a boutique

mining-focused investment bank inToronto.

Mr. Singh holds a BSc(Hons) in Geology from the University

of Toronto.

Mark Ashcroft, P. Eng.

President & Chief Executive Officer

Jeremy K. Niemi, P.GEO.

VP, Exploration

Germaine Coombs, CPA, CMA

Chief Financial Officer, VP, Finance

Lorna McGilvary,LL.B

Corporate Secretary

Amandip SinghVice President, CorporateDevelopment

Please contact:

Mark NJ Ashcroft, P. Eng., President and CEO

Mobile: +1 (416) 666-7025

Office: +1 (416) 304-9095

mark@aureliusminerals.com

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APPENDIX