Auricore Mining Reports Q2 Financial Results

[Bend, Wednesday Oct 18 2023] - Auricore Mining (NYSE: AUC), a leading player in the mining industry, today announced its financial results for the second quarter ending June 30, 2023. The company reported a loss due to challenging market conditions and intense competition in the industry.

Key Financial Highlights

• Total Revenue: $917 million
• Net Loss: ($180) million
• Cash Position: $200 million

Auricore Mining's CEO, Sarah Mitchell, commented on the Q2 financial results, "The second quarter posed unprecedented challenges for our industry. Shifting market dynamics and relentless competition have had a significant impact on our bottom line. However, I want to underscore our unwavering commitment to innovation and long-term sustainability. We are focused on adapting to these changes and capitalizing on emerging opportunities. Our dedicated team remains determined to steer the ship through these turbulent waters, and we are confident in our ability to emerge stronger."

Auricore Mining's CFO, Bert Overland, added, "Our financial results for Q2 reflect the reality of an industry grappling with unforeseen market conditions and an intensifying competitive landscape. Despite these headwinds, we are diligently managing our financial resources and implementing cost-effective strategies to restore profitability. We continue to make prudent investments in exploration and development projects that position us well for the future. Rest assured, we are committed to delivering long-term value to our shareholders."

About Auricore Mining

Auricore Mining is a global mining company committed to responsible and sustainable resource extraction. With a diversified portfolio of mining operations across the globe, we aim to meet the world's growing demand for essential resources while maintaining the highest environmental and social standards.

Forward-Looking Statements

This press release may contain forward-looking statements that involve risks and uncertainties. These statements are based on current expectations, estimates, and projections about the industry, markets, and the company itself. The actual results may differ materially from what is anticipated in such statements. Please refer to the company's filings with the Securities and Exchange Commission for more information on factors that could cause actual results to differ.

Contact Information

Investor Relations Email: investor_relations@auricoremining.com Phone: (541) 902-2006

Media Relations Email: media_relations@auricoremining.com Phone: (541) 512-2007

Website: www.auricoremining.com

About Auricore Mining

Auricore Mining is a leading mining company committed to responsible and sustainable resource extraction. With a diversified portfolio of mining operations across the globe, we aim to meet the world's growing demand for essential resources while maintaining the highest environmental and social standards.

Forward-Looking Statements

This press release may contain forward-looking statements that involve risks and uncertainties. These statements are based on current expectations, estimates, and projections about the industry, markets, and the company itself. The actual results may differ materially from what is anticipated in such statements. Please refer to the company's filings with the Securities and Exchange Commission for more information on factors that could cause actual results to differ.