• Major 44,000m Reverse Circulation and diamond drilling program to commence in October
• Drilling to target further Resource growth and in-fill the early years of planned production at Katanning Gold Project
• Regional discovery pipeline to be advanced with a 12,000m program targeting new prospects

Ausgold Limited is gearing up to launch a major new gold drilling program at its 100%-owned 2.44Moz Katanning Gold Project (KGP) and across its extensive 3,500km² of highly prospective greenstone tenure in the south-west of Western Australia. The multi-rig campaign, comprising 44,000m of reverse circulation and diamond drilling, is scheduled to commence in October 2025. The campaign is expected to deliver strong value-creation through three key avenues: resource growth, de-risking the mine plan, and unlocking new discoveries. The resource growth drilling will target both open pit and underground extensions within the Central and Northern Zones of the KGP, including high-impact drilling directly down-plunge of known ore shoots along the Jinkas trend. The in-fill drilling will focus on the early, high-margin payback period of the mine life to increase confidence in these areas, maximize Resource-to-Reserve conversion, and further de-risk the project ahead of a final investment decision planned for mid-2026. The regional drilling will leverage Ausgold's dominant tenement position in the Katanning Greenstone Belt, advancing the company's pipeline of greenfields exploration opportunities, from testing un-drilled geochemical anomalies through to delivering the first satellite resource to complement the KGP.

The company has not provided any high-importance, price-sensitive forward-looking financial metrics in the announcement.

The announcement does not provide a specific outlook, but highlights that the drilling campaign is expected to deliver strong value-creation through resource growth, de-risking the mine plan, and unlocking new discoveries at the Katanning Gold Project and across Ausgold's extensive tenement holdings.