Austral Gold CompletesSale ofShares to RelatedParties

Established gold producer Austral Gold Limited ('Austral' or the 'Company') (ASX: AGD; TSX-V: AGLD; OTCQB: AGLDF) advises that further to its announcement of June 20, 2024, its subsidiary Austral Gold Canada Limited ('AGCL') completed the sale of shares of Unico Silver Limited ('Unico'), to two of the Company's directors, Eduardo Elsztain and Saul Zang, pursuant to a share purchase agreement dated June 18, 2024 (the 'Agreement'). Under the agreement, AGCL sold 5,458,833 previously issued common shares of Unico ('Unico Shares') to Mr. Elsztain and 963,323(1) Unico Shares to Mr. Zang at a price per Unico Share of A$0.16 per share. Total proceeds from the transaction was A$1,027,545 (US$682,393/CDN$935,014). There were no finder's fees paid in the transaction

About Austral Gold

Austral Gold is a growing gold and silver mining producer building a portfolio of quality assets in the Americas based on three strategic pillars: production, exploration and equity investments. Austral continues to lay the foundation for its growth strategy by advancing its attractive portfolio of producing and exploration assets.

Contact:

Stabro Kasaneva Jose Bordogna

Chief Executive Officer Chief Financial Officer

Austral Gold Limited Austral Gold Limited

Tel: [phone]

Email: [e-mail] [e-mail]

(C) 2024 Electronic News Publishing, source ENP Newswire