Corporate Governance - Austin Gold Corp. has appointed Sandra R. MacKay to its Board of Directors, bringing over 30 years of corporate commercial legal experience [1][2] - MacKay has held senior legal positions in various companies, including Copperleaf Technologies Inc., Uranerz Energy Corporation, and Chevron Canada Limited, and has expertise in securities law, employment law, and intellectual property law [2] Marketing Strategy - The Company has entered into a Marketing Agreement with i2i Marketing Group, LLC to enhance investor awareness through various online platforms and direct mailing campaigns, with a contract value of up to $750,000 [3] - The agreement is on a month-to-month basis, and the Company will not issue any securities to i2i as compensation for its services [3] Project Overview - Austin Gold Corp. is focused on gold exploration in the southwestern United States, with two projects in Nevada: the Kelly Creek Project and the Lone Mountain Project, covering approximately 78.9 km² [5] - The Stockade Mountain Project in Oregon consists of approximately 21.5 km² of unpatented mining claims situated in a geological environment similar to the nearby Grassy Mountain Deposit [5] Corporate Changes - The Company has terminated its previous marketing agreement with Savvy Social Management Corp. [4]

[Financial Statements](index=2&type=section&id=Financial%20Statements) This section presents Austin Gold Corp.'s core financial statements, detailing its financial position, performance, and cash flows [Condensed Interim Consolidated Statements of Financial Position](index=2&type=section&id=CONDENSED%20INTERIM%20CONSOLIDATED%20STATEMENTS%20OF%20FINANCIAL%20POSITION) This section presents a snapshot of Austin Gold Corp.'s financial health, detailing its assets, liabilities, and shareholders' equity as of June 30, 2024, compared to December 31, 2023. Key changes include a decrease in total assets and current assets, a significant reduction in current liabilities, and an increase in exploration and evaluation (E&E) assets | Metric | June 30, 2024 | December 31, 2023 | | :---------------------- | :------------ | :---------------- | | Total Assets | $10,671,539 | $12,005,240 | | Current Assets | $7,357,851 | $9,716,501 | | Cash and cash equivalents | $1,207,937 | $907,551 | | Short-term investments | $5,910,104 | $8,618,386 | | E&E assets | $3,288,375 | $2,280,490 | | Current Liabilities | $86,766 | $676,605 | | Total Shareholders' Equity| $10,584,773 | $11,328,635 | | Deficit | $(8,411,317) | $(7,020,522) | [Condensed Interim Consolidated Statements of Loss and Comprehensive Loss](index=3&type=section&id=CONDENSED%20INTERIM%20CONSOLIDATED%20STATEMENTS%20OF%20LOSS%20AND%20COMPREHENSIVE%20LOSS) This statement outlines the company's financial performance for the three and six months ended June 30, 2024 and 2023, highlighting administrative expenses, operating loss, and the overall net loss. The company reported a reduced net loss for the six-month period compared to the previous year, despite an increase in operating loss and share-based compensation | Metric | For the six months ended June 30, 2024 | For the six months ended June 30, 2023 | | :-------------------------------------- | :------------------------------------- | :------------------------------------- | | Operating loss | $(1,599,557) | $(1,013,284) | | Share-based compensation | $565,363 | $139,887 | | Write-off of E&E assets | $(1,050) | $(1,223,658) | | Loss before taxes | $(1,390,645) | $(2,005,450) | | Loss and comprehensive loss for the period| $(1,390,795) | $(2,005,605) | | Loss per share - basic and diluted | $(0.10) | $(0.15) | - The net loss for the six months ended June 30, 2024, improved to **$(1,390,795)** from **$(2,005,605)** in the prior year, primarily due to a significantly lower write-off of E&E assets[6](index=6&type=chunk) - Share-based compensation expense for the six months ended June 30, 2024, increased substantially to **$565,363** from **$139,887** in the same period of 2023[6](index=6&type=chunk) [Condensed Interim Consolidated Statements of Cash Flows](index=4&type=section&id=CONDENSED%20INTERIM%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) This statement details the cash inflows and outflows across operating, investing, and financing activities for the three and six months ended June 30, 2024 and 2023. It shows an increased use of cash in operating activities and a decrease in cash generated from investing activities for the six-month period | Metric | For the six months ended June 30, 2024 | For the six months ended June 30, 2023 | | :-------------------------------------- | :------------------------------------- | :------------------------------------- | | Net cash used in operating activities | $(1,147,118) | $(936,864) | | Net cash generated by (used in) investing activities | $1,449,752 | $1,949,224 | | Expenditures on E&E assets | $(1,451,704) | $(294,446) | | Redemption of short-term investments | $5,500,000 | $10,000,000 | | Increase (decrease) in cash and cash equivalents for the period | $302,634 | $1,012,360 | | Cash and cash equivalents, end of period| $1,207,937 | $1,644,336 | - Expenditures on E&E assets significantly increased to **$(1,451,704)** for the six months ended June 30, 2024, compared to **$(294,446)** in the prior year[8](index=8&type=chunk) [Condensed Interim Consolidated Statements of Changes in Shareholders' Equity](index=5&type=section&id=CONDENSED%20INTERIM%20CONSOLIDATED%20STATEMENTS%20OF%20CHANGES%20IN%20SHAREHOLDERS'%20EQUITY) This statement tracks the changes in the components of shareholders' equity, including share capital, other reserves, accumulated other comprehensive income (loss), and deficit, for the periods ended June 30, 2024 and 2023. It shows a decrease in total shareholders' equity driven by the loss for the period, partially offset by an increase in other reserves | Metric | June 30, 2024 | December 31, 2023 | | :-------------------------------------- | :------------ | :---------------- | | Number of common shares | 13,271,750 | 13,271,750 | | Share capital | $16,568,175 | $16,568,175 | | Other reserves | $3,002,864 | $2,355,931 | | Accumulated other comprehensive income (loss) | $(574,949) | $(574,949) | | Deficit | $(8,411,317) | $(7,020,522) | | Total Shareholders' Equity | $10,584,773 | $11,328,635 | - Other reserves increased by **$646,933** from December 31, 2023, to June 30, 2024, primarily due to the value assigned to share options and warrants vested[11](index=11&type=chunk) - The deficit increased by **$1,390,795** for the six months ended June 30, 2024, reflecting the loss incurred during the period[11](index=11&type=chunk) [Notes to the Unaudited Condensed Interim Consolidated Financial Statements](index=6&type=section&id=NOTES%20TO%20THE%20UNAUDITED%20CONDENSED%20INTERIM%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) This section provides detailed explanations and disclosures for the financial statements, covering accounting policies, financial risks, and key asset and liability details [1. Nature of Operations and Going Concern](index=6&type=section&id=1.%20NATURE%20OF%20OPERATIONS%20AND%20GOING%20CONCERN) This note describes Austin Gold Corp.'s core business of acquiring, exploring, and evaluating mineral resource properties in the western USA. It also addresses the company's ability to continue as a going concern, acknowledging ongoing losses but affirming sufficient working capital for the next twelve months - Austin Gold Corp. is focused on the acquisition, exploration, and evaluation of mineral resource properties primarily in the western United States of America[14](index=14&type=chunk) - The company has incurred ongoing losses and expects further losses, but management estimates current working capital will be sufficient to fund activities for at least the next twelve months[16](index=16&type=chunk)[17](index=17&type=chunk) Financial Metrics | Metric | June 30, 2024 | December 31, 2023 | | :-------------------------------------- | :------------ | :---------------- | | Net loss (six months) | $(1,390,795) | $(2,005,605) | | Cash used in operating activities (six months) | $(1,147,118) | $(936,864) | | Cash and cash equivalents | $1,207,937 | $907,551 | | Working capital surplus | $7,271,085 | $9,039,896 | | Accumulated deficit | $(8,411,317) | $(7,020,522) | [ (a) Nature of operations](index=6&type=section&id=1.%20(a)%20Nature%20of%20operations) This subsection details the company's incorporation, stock exchange listing, and primary business focus on mineral resource property acquisition, exploration, and evaluation - Austin Gold Corp. was incorporated on April 21, 2020, in British Columbia, Canada, and its common shares are traded on the NYSE American stock exchange under the symbol "AUST"[14](index=14&type=chunk) - The Company's primary focus is the acquisition, exploration, and evaluation of mineral resource properties, mainly located in the western United States of America[14](index=14&type=chunk) - The Company has not yet determined if its mineral resource properties contain economically recoverable mineral reserves, and its continued operation depends on securing financing for exploration, evaluation, and development[15](index=15&type=chunk) [ (b) Going concern assumption](index=6&type=section&id=1.%20(b)%20Going%20concern%20assumption) This subsection

Core Insights - Austin Gold Corp. is advancing exploration activities at its Lone Mountain, Stockade Mountain, and Kelly Creek projects, with significant sampling and drilling programs planned for the upcoming summer and winter seasons [2][4][5]. Lone Mountain Project - A comprehensive soil and stream sediment sampling program is set to commence at the Lone Mountain Project, located near the Carlin gold district in Elko County, Nevada, with fieldwork scheduled for early summer [1][2]. - The project area is characterized by lower-plate carbonate windows, which are associated with major gold deposits in the region, including over 90 million ounces produced in the Carlin Trend [3][4]. - Historical exploration has identified areas with anomalous arsenic, antimony, and mercury, prompting Austin to expand on these findings to target promising mineralization zones [4]. Stockade Mountain Project - At the Stockade Mountain Project in Malheur County, Oregon, Austin plans to follow up on positive results from the 2023-2024 winter drilling program, which revealed significant gold grades, including intercepts of 8.19 grams/tonne over 4 feet and 9.32 grams/tonne over 2.7 feet [5][6]. - The company is implementing a "Plan of Operations" to enhance flexibility in drill site placement due to regulatory constraints [5][6]. Kelly Creek Project - Austin has renegotiated the Option to Joint Venture Agreement for the Kelly Creek Project, extending the timeline to earn a 51% interest by two years, with a total expenditure requirement of C$2.5 million by June 30, 2027 [7][8]. - The company must also incur an additional C$2.5 million to increase its interest to 70%, with no time limit for this expenditure [7][8]. Funding Status - The company is fully funded for all planned exploration programs across its projects, ensuring the continuation of its exploration activities [1][8].

AUSTIN GOLD CORP. UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2024 AND 2023 (Expressed in United States dollars) | --- | --- | |-------------------------------------------------------|---------------------------| | "Benjamin D. Leboe" | "Joseph J. Ovsenek" | | Benjamin D. Leboe | Joseph J. Ovsenek | | Chair of the Audit Committee and Director | Chairman and Director | AUSTIN GOLD CORP. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION Unau ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE AC ...

AUSTIN GOLD CORP. CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021 (Expressed in United States dollars) To the shareholders of Austin Gold Corp. The accompanying consolidated financial statements of Austin Gold Corp. have been prepared by management which is responsible for the integrity and fairness of the information presented, including responsibility for significant accounting estimates and judgments. These consolidated financial statements have been prepared in acc ...

AUSTIN GOLD CORP. UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2023 AND 2022 (Expressed in United States dollars) Approved on behalf of the Board of Directors: | --- | --- | |-------------------------------------------------------|---------------------------| | "Benjamin D. Leboe" | "Joseph J. Ovsenek" | | Benjamin D. Leboe | Joseph J. Ovsenek | | Chair of the Audit Committee and Director | Chairman and Director | The accompanying notes are ...

AUSTIN GOLD CORP. UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2023 AND 2022 (Expressed in United States dollars) NOTICE TO READER The accompanying unaudited condensed interim consolidated financial statements of Austin Gold Corp. for the three and six months ended June 30, 2023 have been prepared by management and approved by the Audit Committee and the Board of Directors of the Company. As required by National Instrument 51-102 subsection 4.3(3) ...

AUSTIN GOLD CORP. CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2023 AND 2022 (Expressed in United States dollars) AUSTIN GOLD CORP. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION Unaudited - Expressed in United States dollars Approved on behalf of the Board of Directors: | --- | --- | |-------------------------------------------------------|---------------------------| | "Benjamin D. Leboe" | "Joseph J. Ovsenek" | | Benjamin D. Leboe | Joseph J. O ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE AC ...