• Fully underwritten two-tranche Placement of 100 million New Shares at A$0.80 per share to raise A$80 million
• Proceeds will be used to advance the Katanning Gold Project, including construction of a workforce accommodation facility, land acquisition payments, further exploration, and general working capital
• Significantly strengthens Ausgold's balance sheet and provides financial flexibility as the Company progresses the Katanning Gold Project towards a final investment decision targeted for mid-CY26

Ausgold Limited (ASX: AUC) has announced a fully underwritten two-tranche placement of 100 million new fully paid ordinary shares at an issue price of A$0.80 per share to raise gross proceeds of A$80 million. The placement comprises an unconditional tranche of A$50 million and a conditional tranche of A$30 million, subject to shareholder approval. The issue price represents a 9.1% discount to the last closing price and a 3.2% discount to the 5-day VWAP. The capital raising proceeds, together with Ausgold's existing cash of A$25.4 million as at 31 October 2025, will be applied towards the development of the Katanning Gold Project (KGP). This includes the construction of a workforce accommodation facility, deposits on long-lead items, permitting, and progressing the company's material contract tendering strategy. Funds will also be used for land acquisition payments, further KGP regional exploration activities, and general working capital, corporate costs, and costs of the placement and share purchase plan. The placement significantly strengthens Ausgold's balance sheet and provides financial flexibility to progress key development workstreams for the KGP, including an update to the June 2025 Definitive Feasibility Study and permitting approvals, ahead of a final investment decision targeted for mid-CY26. In addition to the placement, the company is undertaking a Share Purchase Plan of up to A$10 million at the same issue price to provide eligible shareholders the opportunity to increase their holding.

The successful completion in June of the Katanning Gold Project Definitive Feasibility Study and the recent freehold land acquisitions are major milestones on the road to Ausgold becoming Australia's next mid-tier gold producer. With 44,000m of drilling underway, the company looks forward to updating shareholders on the results of that program which will target down-plunge extensions of some of the highest potential areas of the KGP orebody.