Austin Gold AUST

Austin Gold Corp. is an exploration stage company engaged in the acquisition and evaluation of mineral properties with a focus on gold targets in Nevada and Oregon. It seeks to identify and advance district scale gold discoveries through systematic exploration programs. The company holds interests in three mineral projects two in Nevada and one in Oregon and operates through a wholly owned Nevada subsidiary to manage its U S assets. Its activities include geological mapping geophysical surveys drilling sampling and assaying to assess the potential for economically viable gold mineralization.

Austin Gold Corp. does not currently generate revenue from mineral production because none of its properties host known mineral resources or reserves. The company funds its exploration and evaluation expenditures primarily through the issuance of common shares and other equity financings as disclosed in its rights under mineral leases and options. It may also receive option payments from joint venture partners under its agreements. These financing activities provide the necessary cash to sustain drilling programs geological studies and permitting efforts.

The company operates through the following segments:

• Kelly Creek Project is located in Humboldt County Nevada on public lands administered by the Bureau of Land Management and on private land leased by Pediment a subsidiary of URZ3 Energy Corp. The project covers approximately 2.77 square miles of unpatented lode mining claims and about 5.49 square miles of private land. Austin Gold Corp. holds its interest through its Nevada subsidiary Austin NV under a joint venture agreement that allows it to earn up to a seventy percent interest by incurring cumulative exploration and evaluation expenditures of five million Canadian dollars. As of June three twenty twenty four the company had incurred nine hundred twenty three thousand seven hundred fifty seven Canadian dollars toward the first fifty one percent earn in threshold. Exploration activities have included geological data review geophysical surveys GIS mapping target evaluation and a limited drilling program that intersected rock types similar to nearby Marigold and Lone Tree mines. The project lies along the Battle Mountain Eureka gold trend and is bounded by multi million ounce gold deposits to the north and south indicating strong regional mineralization potential.
• Stockade Mountain Project is situated in Malheur County Oregon on land administered by the Bureau of Land Management and consists of 261 unpatented lode mining claims originally with an additional 77 claims located in November twenty twenty four bringing the total to approximately 10.5 square miles. The company acquired exploration and mining rights through a mineral lease and option agreement with Bull Mountain Resources LLC. The project exhibits a low sulfidation hot springs hydrothermal system associated with rhyolite intrusion and doming along a major northwest trending structural corridor. Historical drilling shows gold and silver values increase with depth below the paleosurface and the company has interpreted that prospective high grade veins may exist six hundred to one thousand two hundred feet below surface. Exploration programs have included diamond drilling that returned strong intercepts such as eight point one nine grams per tonne over four feet and nine point three two grams per tonne over two point seven feet. The company has completed geophysical surveys including a controlled source audio frequency magnetotellurics survey to improve targeting of deeper vein hosted structures. All necessary permits for access road construction and drilling are in place and future work will focus on testing beneath known high level gold silver bearing stockwork mineralization.
• Lone Mountain Project lies in Elko County Nevada and comprises 951 unpatented lode mining claims with additional claims located in November twenty twenty three and November twenty twenty four expanding the total area to approximately twenty six point five square miles. The property is positioned less than twenty miles northeast of the Carlin cluster and ten miles south of the southern most Jerritt Canyon deposits placing it within a major Nevada gold mining center. Geology consists of a broadly folded Paleozoic sequence intruded by a Tertiary multi phase complex with lower plate carbonate rocks exposed in the Lone Mountain window that host Carlin type mineralization. Exploration activities have included soil and stream sediment sampling geological mapping gravity geophysics and plans for geophysical contractor supported gravity surveys to refine drill targets. The company has also engaged a consulting geologist for geological mapping and rock chip sampling over primary areas of interest to identify economic gold deposits for future drilling.

Austin Gold Corp. positions itself as a junior explorer focusing on underexplored segments of established gold trends in the western United States. It competes with numerous junior and senior mining companies that seek similar properties in Nevada and Oregon many of which have greater financial resources and more advanced projects. The company's competitive advantages include its strategic land packages along the Battle Mountain Eureka gold trend and the Independence Jerritt Canyon trend its access to experienced technical consultants and its ability to secure exploration permits from federal and state agencies. Additionally its joint venture arrangement with Pediment provides a cost sharing structure that reduces the financial burden of earning an interest in the Kelly Creek Project.

As an exploration stage issuer Austin Gold Corp. does not serve traditional customers and has no commercial sales of mineral products. Its primary counterparties include joint venture partners such as Pediment a subsidiary of URZ3 Energy Corp private landowners like Julian Tomera Ranches Inc and optionors such as Bull Mountain Resources LLC and NAMMCO. These parties engage with the company through mineral lease option agreements joint venture arrangements and royalty arrangements. The company anticipates that upon discovery of a viable mineral deposit it would sell its production to smelters refiners or other mining companies but currently there are no customer relationships to report.