• Binding agreement signed to acquire critical freehold land for Katanning Gold Project
• $35M capital raising completed to progress the project towards Final Investment Decision
• Major 44,000m drilling program set to commence, targeting resource growth and infill

Ausgold Ltd has signed a binding agreement to acquire a substantial freehold land position that is critical to the development of its Katanning Gold Project (KGP) in Western Australia. The acquisition eliminates a legal dispute that had been running since August 2023 and will allow Ausgold to re-optimise the KGP mine plan, targeting additional life-of-mine gold production and reduced mining costs. Ausgold has also completed a $35 million capital raising, strongly supported by new and existing institutional investors, to progress the KGP towards a final investment decision planned for mid-2026. Pre-development activities are continuing to advance on several fronts, including permitting, mine water supply, accommodation facility development, and process plant engineering. Ausgold is also set to commence a major 44,000m drilling program in October, including 32,000m at the KGP to target further resource growth and infill of the early years of planned production. The company has also rationalised its exploration portfolio and entered into a farm-in agreement over the Lake Magenta Project with Serena Minerals Limited.

Ausgold is well funded to complete the work programs following the successful $35 million capital raising. The company is focused on re-optimising the DFS mine plan, finalising preparations for major contract services, and advancing permitting and approvals. A major 44,000m drilling program is set to commence, targeting resource growth and infill of the early years of planned production at the Katanning Gold Project.