Precious Metals

Augusta Gold Announces C$10 Million Bought Deal Offering

Augusta Gold Corp. (TSX:G; OTCQB:AUGG; FSE:11B) (" Augusta Gold " or the " Company ") is pleased to announce that it has entered into an agreement with Eight Capital, to act as the lead underwriter and sole bookrunner on its own behalf and, if applicable, on behalf of a syndicate of underwriters (collectively, the " Underwriters "), pursuant to which the Underwriters have agreed to purchase, on a bought deal underwritten basis, 5,847,954 units of Augusta Gold (the " Units ") at a price of C$1.71 per Unit for aggregate gross proceeds of approximately C$10 million (the " Offering "). Each Unit will be comprised of one share of the Company's common stock and one-half of one common stock purchase warrant (each whole common stock purchase warrant, a " Warrant "). Each Warrant will entitle the holder to acquire one share of the Company's common stock for a period of 36 months following the closing of the Offering at a price of C$2.30.

In addition, Augusta Gold has agreed to grant the Underwriters an option (the " Over-Allotment Option "), exercisable at any time, in whole or in part, until the date that is 30 days following the closing of the Offering, to purchase up to an additional 15% of the number of Units. The Over-Allotment Option may be exercised for the purpose of covering over-allotments made in connection with the Offering and for market stabilization purposes. The Offering is expected to close on or about January 18, 2023, subject to customary closing conditions, including the approval of the Toronto Stock Exchange.

Augusta Gold intends to use the net proceeds of the Offering for the advancement of the Bullfrog Project, and for working capital and general corporate purposes.

The Offering is being made in the United States pursuant to a preliminary prospectus supplement to the base prospectus contained in the shelf registration statement on Form S-3 (No. 333-266055) that was filed by Augusta Gold with the Securities and Exchange Commission (the " SEC ") on July 8, 2022 and declared effective by the SEC on August 18, 2022, and in Canada pursuant to the final northbound multijurisdictional disclosure system base shelf prospectus dated August 18, 2022 that was filed with the securities regulators in each of the provinces and territories of Canada other than Québec (collectively, the " Canadian Regulators "). The Offering is being made only by means of a U.S. and Canadian preliminary prospectus and accompanying base prospectus. Prospective investors should carefully read the preliminary prospectus supplement, the final prospectus supplement, when available, the accompanying base prospectus and related registration statement.

An underwriting agreement, as well as the U.S. or Canadian preliminary prospectus supplements, the final prospectus supplements, when available, and accompanying base prospectus relating to and describing the terms of the Offering have been or will be filed with the SEC and the Canadian Regulators, and will be available on the SEC's website at www.sec.gov and at www.sedar.com under Augusta Gold's profile. Copies of the underwriting agreement, the U.S. or Canadian preliminary prospectus supplements, the final prospectus supplements, when available, and the accompanying base prospectus relating to the offering may also be obtained, when available, by contacting Eight Capital Attention: Enoch Lee at 647-265-8217 or email: elee@viiicapital.com.

This news release shall not constitute an offer to sell or a solicitation of an offer to buy these or any other securities. There shall not be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Enquiries

Telephone: 604-638-1468
Email: info@augustagold.com

About Augusta Gold

Augusta Gold is an exploration and development company focused on building a long-term business that delivers stakeholder value through developing the Reward and Bullfrog gold projects and pursuing accretive M&A opportunities. The Reward and Bullfrog gold projects are located in the prolific Bullfrog mining district approximately 120 miles north-west of Las Vegas, Nevada and just outside of Beatty, Nevada. The Company is led by a management team and board of directors with a proven track record of success in financing and developing mining assets and delivering shareholder value.

Cautionary Note Regarding Forward-Looking Statements

Certain statements and information contained in this new release constitute "forward-looking statements", and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). These statements appear in a number of places in this news release and include statements regarding our intent, or the beliefs or current expectations of our officers and directors, including the anticipated closing date of the Offering, the anticipated use of proceeds of the Offering and our focus on building a long-term business that delivers stakeholder value through developing the Reward and Bullfrog gold projects and pursuing accretive M&A opportunities. When used in this news release words such as "to be", "will", "planned", "expected", "potential", "anticipated" and similar expressions are intended to identify these forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to vary materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian Regulators and the SEC. Such forward-looking statements are based on various assumptions, including assumptions made with regard to assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, the impact from the pandemic of the novel coronavirus (COVID-19), availability of equipment, the availability of drill rigs, the timing of the publication of any updated mineral resource estimates. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If we update any one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. You should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary note.


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G:CA

AUGUSTA GOLD CLOSES C$11.5 MILLION BOUGHT DEAL OFFERING

Augusta Gold Corp. (TSX: G) (OTCQB: AUGG) (FSE: 11B ) (" Augusta Gold " or the " Company ") is pleased to announce that it has closed its previously announced bought deal offering (the " Offering ") of units of Augusta Gold (the " Units ") for aggregate gross proceeds of approximately C$11.5 million including the full exercise of the over-allotment option in the amount of C$1.5 million .

Augusta Gold (CNW Group/Augusta Gold Corp.)

Pursuant to the Offering, a total of 6,725,147 Units were sold at a price of C$1.71 per Unit. Each Unit was comprised of one share of the Company's common stock and one-half of one common stock purchase warrant (each whole common stock purchase warrant, a " Warrant "). Each Warrant entitles the holder to acquire one share of the Company's common stock at a price of C$2.30 until January 20, 2026 .

The Offering was made through a syndicate of underwriters led by Eight Capital and including National Bank Financial and TD Securities Inc. (collectively, the " Underwriters "). The Underwriters received a cash commission equal to 5.0% of the aggregate gross proceeds of the Offering. In addition, the Underwriters were issued an aggregate of 336,257 compensation warrants, equal to 5.0% of the number of Units sold under the Offering (the " Compensation Warrants "). Each Compensation Warrant entitles the holder to acquire one share of the Company's common stock at a price of C$1.71 until January 20, 2024 .

Augusta Gold intends to use the net proceeds of the Offering for the advancement of the Bullfrog Project, and for working capital and general corporate purposes.

The securities described above were offered pursuant to a registration statement on Form S-3 (file no. 333-266055) that was filed in the United States with the Securities and Exchange Commission (the " SEC ") and declared effective on August 18, 2022 and in Canada pursuant to the "northbound" multi-jurisdictional disclosure system. Augusta Gold filed a final prospectus supplement with the SEC in connection with the Offering and a Canadian final prospectus supplement to the base shelf prospectus dated August 18, 2022 with securities regulatory authorities in each of the provinces and territories of Canada other than Québec. You may get these documents for free by visiting EDGAR on the SEC web site at www.sec.gov or by visiting the SEDAR website at www.sedar.com . Copies of the final prospectus supplement and the accompanying prospectus related to the Offering may also be obtained by contacting Eight Capital, Attention: Enoch Lee by telephone at 647-265-8217 or by email at elee@viiicapital.com .

This news release shall not constitute an offer to sell or a solicitation of an offer to buy these or any other securities. There shall not be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Augusta Gold

Augusta Gold is an exploration and development company focused on building a long-term business that delivers stakeholder value through developing the Reward and Bullfrog gold projects and pursuing accretive M&A opportunities. The Reward and Bullfrog gold projects are located in the prolific Bullfrog mining district approximately 120 miles north-west of Las Vegas, Nevada and just outside of Beatty, Nevada . The Company is led by a management team and board of directors with a proven track record of success in financing and developing mining assets and delivering shareholder value.

Cautionary Note Regarding Forward-Looking Statements

Certain statements and information contained in this new release constitute "forward-looking statements", and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). These statements appear in a number of places in this news release and include statements regarding our intent, or the beliefs or current expectations of our officers and directors, including the anticipated use of proceeds of the Offering and our focus on building a long-term business that delivers stakeholder value through developing the Reward and Bullfrog gold projects and pursuing accretive M&A opportunities. When used in this news release words such as "to be", "will", "planned", "expected", "potential", "anticipated" and similar expressions are intended to identify these forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to vary materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian Regulators and the SEC. Such forward-looking statements are based on various assumptions, including assumptions made with regard to assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, the impact from the pandemic of the novel coronavirus (COVID-19), availability of equipment, the availability of drill rigs, the timing of the publication of any updated mineral resource estimates. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If we update any one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. You should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary note.

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SOURCE Augusta Gold Corp.

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AUGUSTA GOLD ANNOUNCES RESULTS OF ITS ANNUAL SHAREHOLDER MEETING

Augusta Gold Corp. (TSX: G) (OTCQB: AUGG) (FSE: 11B ) (" Augusta Gold " or the " Company ") announces that all matters presented for approval at Augusta Gold's annual shareholder meeting held today, as more particularly set out in the Company's Management Information Circular and Proxy Statement dated August 15, 2022 have been approved. These matters included:

Augusta Logo (CNW Group/Augusta Gold Corp.)

  • Electing each of the Company's six nominees as directors of the Company;
  • Re-appointing Davidson & Company LLP as auditors of the Company for the ensuing year and authorizing the directors to fix their remuneration; and
  • Approving the repricing of certain Company stock options.

A summary of the results for the election of the Company's directors is provided below:

Name of Nominee

Votes For

Votes Withheld

Number

%

Number

%

John Boehner

40,280,915

99.98 %

8,529

0.02 %

Lenard Boggio

40,158,112

99.67 %

131,332

0.33 %

Daniel Earle

40,158,407

99.67 %

131,037

0.33 %

Poonam Puri

40,162,485

99.68 %

126,959

0.32 %

Donald R. Taylor

40,158,252

99.67 %

131,192

0.33 %

Richard Warke

40,279,592

99.98 %

9,852

0.02 %

About Augusta Gold

Augusta Gold is an exploration and development company focused on building a long-term business that delivers stakeholder value through developing the Reward and Bullfrog gold projects and pursing accretive M&A opportunities. The Reward and Bullfrog gold projects are located in the prolific Bullfrog mining district approximately 120 miles north-west of Las Vegas, Nevada and just outside of Beatty, Nevada . The Company is led by a management team and board of directors with a proven track record of success in financing and developing mining assets and delivering shareholder value. For more information, please visit www.augustagold.com .

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SOURCE Augusta Gold Corp.

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AUGUSTA GOLD COMPLETES FINAL PAYMENT FOR REWARD PROJECT

Augusta Gold Corp. (TSX: G) (OTCQB: AUGG) (FSE: 11B ) (" Augusta Gold " or the " Company ") is pleased to announce that it has completed the remaining payment aggregating US$22,121,398 due to Waterton Nevada Splitter LLC for the Reward project under the previously announced purchase agreement (refer to the Company's news release dated April 21, 2022 ).

Augusta Logo (CNW Group/Augusta Gold Corp.)

Donald Taylor President and CEO said, "Making the final payment for the Reward acquisition is a significant milestone as we move to completing our engineering studies for both Reward and Bullfrog with the goal of commencing production from the fully permitted Reward project in late 2023."

The Company also announces a loan (the " Loan ") with a company (the " Lender ") owned by the Company's Executive Chairman for US$22,232,561 . The Loan bears interest at a rate of prime plus 3%, is for a maximum period of 12 months, and is secured by the Company's Bullfrog and Reward Projects. An origination fee of 0.5% of the amount of the Loan was paid to the Lender on closing.

The Reward Project is a fully permitted heap leach project with measured and indicated mineral resources of 426,700 oz gold grading 0.75 g/t gold and inferred mineral resources of 27,100 oz gold grading 0.68 g/t gold with sufficient water rights to commence construction and operations.

Scientific and Technical Information

The mineral resource estimate in this news release is derived from the technical report titled, "Mineral Resource Estimate for the Reward Project, Nye County, Nevada , USA" with an effective date of May 31, 2022 , prepared by Michael Dufresne and Timothy Scott , each of whom are qualified persons as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects .

About Augusta Gold

Augusta Gold is an exploration and development company focused on building a long-term business that delivers stakeholder value through developing the Reward and Bullfrog gold projects and pursing accretive M&A opportunities.  The Reward and Bullfrog gold projects are located in the prolific Bullfrog mining district approximately 120 miles north-west of Las Vegas, Nevada and just outside of Beatty, Nevada . The Company is led by a management team and board of directors with a proven track record of success in financing and developing mining assets and delivering shareholder value. For more information, please visit www.augustagold.com .

Forward Looking Statements

Certain statements and information contained in this new release constitute "forward-looking statements", and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). These statements appear in a number of places in this new release and include statements regarding our intent, or the beliefs or current expectations of our officers and directors, including the Company's goal of pouring gold from the Reward Project in 2023. When used in this news release words such as "to be", "will", "planned", "expected", "potential", "anticipated" and similar expressions are intended to identify these forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to vary materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators and the United States Securities and Exchange Commission. Such forward-looking statements are based on various assumptions, including assumptions made with regard to the preparation of up to date economic studies, financing and an affirmative board construction decision. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect.  Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward- looking statements. If we update any one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. You should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

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AUGUSTA GOLD CLOSES ACQUISITION OF THE REWARD PROJECT

Augusta Gold Corp. (TSX: G) (OTCQB: AUGG) (FSE: 11B ) ("Augusta Gold" or the "Company") is pleased to announce the closing of the acquisition of the Reward Project (refer to the Company's news releases dated April 21, 2022 and June 7, 2022 for further information).

Augusta Gold Corp. Logo (CNW Group/Augusta Gold Corp.)

The Company also announces that it has received TSX approval to hold its annual shareholder meeting after June 30, 2022 . The Company will file a notice on SEDAR in the coming weeks setting the date for its annual shareholder meeting.

About Augusta Gold

Augusta Gold is an exploration and development company focused on building a long-term business that delivers stakeholder value through developing the Reward and Bullfrog gold projects and pursing accretive M&A opportunities. The Reward and Bullfrog gold projects are located in the prolific Bullfrog mining district approximately 120 miles north-west of Las Vegas, Nevada and just outside of Beatty, Nevada . The Company is led by a management team and board of directors with a proven track record of success in financing and developing mining assets and delivering shareholder value. For more information, please visit www.augustagold.com .

Forward Looking Statements

Certain statements and information contained in this new release constitute "forward-looking statements", and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). These statements appear in a number of places in this new release and include statements regarding our intent, or the beliefs or current expectations of our officers and directors, including that the Company will file a notice on SEDAR in the coming weeks setting the date for its annual shareholder meeting. When used in this news release words such as "to be", "will", "planned", "expected", "potential", "anticipated" and similar expressions are intended to identify these forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to vary materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators and the United States Securities and Exchange Commission. Such forward-looking statements are based on various assumptions, including assumptions made with regard to the timing of the Company's board approving the Company's shareholder meeting date. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect.  Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward- looking statements. If we update any one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. You should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

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AUGUSTA GOLD ANNOUNCES REWARD MINERAL RESOURCE ESTIMATE

Augusta Gold Corp. (TSX: G) (OTCQB: AUGG) (FSE: 11B ) ("Augusta Gold" or the "Company") is pleased to announce the results of its mineral resource estimate at the Reward Project located in Nevada, USA . Closing of the Company's acquisition of the Reward Project is expected imminently.

Highlights

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Aben Resources Announces Share Consolidation, Name and Symbol Change

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Currently, the Company has 136,697,345 common shares issued and outstanding. Following the Consolidation, the Company will have approximately 13,669,734 common shares issued and outstanding. No fractional shares will be issued but will instead be rounded as provided for in section 83(1) of the Business Corporations Act (British Columbia).

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Dear fellow shareholders, service providers, and followers of Advance United,

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NV Gold Corporation Outlines Its Planned 2023 Drill Priorities and Exploration Activities

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Orefinders Updates on Drilling and Broad Portfolio of Investments

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  • Equity and Property Investments in:

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iMetal Resources Recieves Exploration Permits for Next Phase of Exploration at Gowganda West

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iMetal Resources, Inc. (TSX.V:IMR)(OTC PINK:ADTFF)(FRANKFURT:A7V) ("iMetal" or the "Company") is pleased to announce the issuance of exploration permits for the Company's Gowganda West project which lies within the prolific Abitibi Greenstone Gold Belt

Gowganda West is an exploration-stage gold project about 100 km south-southeast of Timmins, Ontario, contiguous to Aris Gold Corp.'s Juby Project in the Shining Tree Camp of the southern part of the Abitibi Greenstone Gold Belt; contiguous also with the Knight project that is part of the Strategic Partnership between Orefinders Resources Inc. and Agnico Eagle Mines Limited. iMetal has just recently completed a seven-hole, 2611 m drilling program, which intersected multiple gold zones including a new gold trend to the east of previously discovered trends.

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Trenching and bedrock sampling in the southern part of the huge Jeesiö Project returned anomalous gold over a large area, including 33.60 g/t Au from a bedrock grab sample at the Katajavaara Hill prospect. Nearly a kilometre away, FireFox geologists collected a rock chip channel sample at the Kataja South prospect that averaged 1.33 g/t Au over 0.8 metres. Another sample in the area contained 1.43 g/t Au, and numerous other samples in the area were highly anomalous in gold. These are the latest sampling results from the first excavations in the area, which was first identified by FireFox reconnaissance sampling late in 2019. The extent of gold mineralization at both prospects is not known, as the gold anomalies remain open along strike and at depth.

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