Austin Gold Provides Update on Exploration Activities

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].