Vancouver, British Columbia--(Newsfile Corp. - November 25, 2024) - Auranova Resources Inc. (the "Company") is pleased to announce that the board of directors of the Company has approved, and the Company effected on November 22, 2024, a further consolidation of its issued and outstanding common shares (each, a "Common Share") on the basis of one (1) post-consolidation Common Share for every ten (10) pre-consolidation Common Shares (the "Consolidation"). The Consolidation will result in the previously outstanding 9,036,296 Common Shares of the Company being consolidated into approximately 903,627 Common Shares. No fractional Common Shares will be issued pursuant to the Consolidation and any fractional Common Shares that would have otherwise been issued have been rounded down to the nearest whole number.

On November 6, 2024, the Company changed its name from 1329293 B.C. Ltd. to Auranova Resources Inc. and consolidated its then issued and outstanding Common Shares on the basis of one (1) post-consolidation Common Share for every 2.5 pre-consolidation Common Shares.

A letter of transmittal with respect to the Consolidation will be mailed to the registered shareholders of the Company. All registered shareholders will be required to send their share certificate(s) or direct registration statement(s) representing pre-Consolidation Common Shares, along with a properly executed letter of transmittal, to the Company's registrar and transfer agent, TSX Trust Company, in accordance with the instructions provided in the letter of transmittal. Shareholders who hold their Common Shares through a broker, investment dealer, bank or trust company should contact that nominee or intermediary for assistance in depositing their Common Shares in connection with the Consolidation. A copy of the letter of transmittal will be posted on the Company's profile at www.sedarplus.ca.

Effective November 22, 2024, the post-Consolidation Common Shares have been assigned new CUSIP/ISIN numbers: (05157P203/CA05157P2035).

The Consolidation constitutes a "business combination" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). In its consideration and approval of the Consolidation, the board of directors of the Company determined that the Consolidation will be exempt from the formal valuation and minority approval requirements of MI 61-101 on the basis of the exemptions in Sections 5.5(b) and 4.6(1)(a) of MI 61-101.

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Caution Regarding Forward-Looking Information

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

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