Vancouver, British Columbia – TheNewswire - May 28, 2024 – Au Gold Corp (TSXV:AUGC) (“AUGC” or the “Company”) announces that it has agreed to an extension of the option agreement covering part of its Ponderosa project, located near Merritt, BC.

The extension allows the Company a further three years to complete $1M in exploration work on three claims which surround its wholly owned central claim.  AUGC has agreed to issue 150,000 shares to the claim optionor in exchange for this extension.

Management remains highly encouraged by the discovery potential along the newly interpreted Ponderosa Structural Corridor (PSC) and has designed a low cost reverse circulation (RC) drill program to test the highest priority targets along the 1,800 m trend.  Historical diamond drilling was restricted to a 140 m portion of the PSC with five scissor-style holes while the most recent drill campaign targeted epithermal vein mineralization associated with parallel secondary structures. Company personnel recently began detailed mapping and reconnaissance work along the southern portion of the PSC to expand the target trend and fine tune the proposed exploration plan.

For further information, please contact:

Au Gold Corp

Marc G. Blythe, MBA, P.Eng., President & Chief Executive Officer

Sandrine Lam, Investor Relations Phone: 1-604-687-3520 Ext. 250

Email: info@augoldcorp.com

To learn more visit: https://augoldcorp.com

Cautionary Note

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