AUGUSTA GOLD ANNOUNCES ACQUISITION BY ANGLOGOLD ASHANTI FOR C$1.70 PER SHARE

Core Viewpoint - Augusta Gold Corp. has entered into a definitive merger agreement with AngloGold Ashanti, where AngloGold Ashanti will acquire all of Augusta Gold's outstanding shares at a price of C$1.70 per share, implying an enterprise value of approximately C$197 million [1][3][7] Summary by Relevant Sections Transaction Details - The acquisition price of C$1.70 per share represents a premium of approximately 28% over the closing price on July 15, 2025, and about 37% over the volume-weighted average share price over the preceding 20 trading days [7] - The transaction is expected to close in the fourth quarter of 2025, pending customary closing conditions and stockholder approval [3][4] - Augusta Gold will become an indirect wholly-owned subsidiary of AngloGold Ashanti, and its shares will no longer be publicly traded [3] Benefits to Stockholders - The offer provides immediate liquidity to Augusta Gold stockholders and eliminates future dilution, commodity price, development, and execution risks [7] - The transaction is supported by Augusta Gold's board, which unanimously recommends stockholders approve the agreement [4][5] Financial Aspects - The enterprise value of the transaction includes a fully-diluted equity value of approximately C$152 million and repayment of stockholder loans totaling around C$45 million as of March 31, 2025 [1] - National Bank Financial Inc. provided a fairness opinion stating that the consideration is fair from a financial perspective for Augusta Gold stockholders, excluding related parties [5][12] Governance and Support - Directors and certain executive officers of Augusta Gold, holding approximately 31.5% of the shares, have entered into voting support agreements to vote in favor of the transaction [4] - Augusta Gold intends to file relevant materials with the SEC and Canadian securities regulators, including a proxy statement for stockholder voting [8][9]