Au Gold Corp Outlines Rationale for Two High-Priority Diamond Drill Targets at Havelock Gold-Antimony Project

Vancouver, British Columbia — September 16, 2026 — Leads & Copy — Au Gold Corp (TSXV: AUGC) has announced the full details behind its first two high-priority diamond drill targets at its Havelock Gold-Antimony project in Victoria, Australia. The targets, McFarlane's and Shaw's No.1 North, aim to explore the down-plunge continuation of historic gold-antimony mineralization.

At McFarlane's, diamond drilling will focus on the historical mine records dating back to the 1880s, targeting the area below the 350-foot (107-meter) depth where high-grade gold and antimony were previously mined. Historical data suggests an average grade of approximately 23 g/t gold, with mining ceasing due to encountering abundant antimony (stibnite) mixed with gold in quartz and groundwater challenges.

Modern technical literature indicates that high-grade gold associated with abundant antimony in Victoria can be a marker for an epizonal gold system, similar to significant systems like Fosterville, Sunday Creek, and Costerfield, which have demonstrated considerable depth potential exceeding 1 kilometer.

Historical records for McFarlane's indicate a southerly plunging shoot up to 60 meters wide at the base of the southern workings. The 350-foot level recorded vein dimensions up to 0.91 meters, with antimony mineralization noted as being significantly larger than anticipated at this depth. AUGC's phase 1 diamond drilling will target the down-plunge extent of this mineralization from the 107-meter level.

Additionally, drill sections are planned to investigate the area between the mine workings and the Dam target, where 514 ounces of gold were reportedly recovered. AUGC hypothesizes that this gold-in-quartz may represent a parallel reef system east of the main workings, in addition to a parallel reef documented 24 meters west of the main workings that was encountered but not developed.

The Shaw's No.1 North target, located centrally along the significant workings on the SMT, will involve diamond drilling to systematically explore the region below the 180-foot (55-meter) level. This drilling aims to test the continuity of mineralization and establish potential plunge geometry of mineralized shoots. Drill holes will also investigate a parallel reef east of the main Shaw No. 1 workings.

Historically, Shaw's No.1 was a single-level mine with a drive at a depth of 180 feet (55 meters) and a strike length of 140 meters. Gold-bearing reef mineralization was documented throughout most of the workings. A parallel mineralized reef, approximately 10 meters east of the main Shaw No. 1 workings, is also a target for drilling.

Au Gold Corp is preparing for diamond drilling on the Shaw-McFarlane Trend and other peripheral targets. The company is actively engaging with private landowners regarding access for drilling, as permissions are required from both parties.

AUGC cautions that historical mine reconstruction work has relied on records predating NI 43-101, involving the collation of public disclosures and newspaper articles from the late 1800s. While this information is considered invaluable, the company reminds readers that no mineral resources currently exist on the project, and there is no certainty that exploration will lead to the definition of mineral resources. Laboratory analyses were not conducted during that era, making comments on the quality of mined material subjective.

Technical information in this press release was prepared under the supervision of Mr. William Wengzynowski, P.Eng., AUGC’s Exploration Manager and a Qualified Person as defined by NI 43-101.

About Au Gold Corp:

Au Gold Corp (TSXV: AUGC) is a gold exploration company focused on its Havelock gold-antimony project in Victoria, Australia, and the Ponderosa gold project in British Columbia, Canada. More information is available at www.AuGoldCorp.com.

Source: Au Gold Corp