Austral Gold Files Q2 2026 Quarterly Activities Report

Sydney, Australia--(Newsfile Corp. - July 30, 2026) - Established gold producer Austral Gold Limited (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) (Austral or the Company) is pleased to announce that it has filed its Q2 2026 Quarterly Activities Report. The complete Report is available under the Company's profile at www.asx.com.au, www.sedarplus.ca and on the Company's website at australgold.com.

Chief Executive Officer of Austral Gold, Stabro Kasaneva, commented, "Q2 2026 was an important operational milestone for Austral Gold. Guanaco continued to improve, with production up 17% and lower unit costs following the commissioning of additional crushing capacity, while Casposo demonstrated the flexibility of our operating model, generating a new revenue stream through toll processing while continuing to mine and process its own material.

With exploration advancing across both Chile and Argentina, further debt reduction and a stronger balance sheet, and an updated Guanaco Technical Report extending mine life to approximately 14 years, we are well positioned to keep delivering on our growth strategy."

Q2 2026 Highlights

• Guanaco (Chile): production up 17% quarter-on-quarter to 3,381 GEO (Q1 2026: 2,879 GEO), with C1 and AISC lower at US$2,542/oz and US$2,954/oz respectively.
• Casposo (Argentina): completed a two-month Hualilan toll-processing campaign, processing 39,342 tonnes at GEO recovery above 85% and generating US$5.9 million in fee revenue; owned-material production (932 GEO in April) resumed in July.
• Combined revenue: US$31.8 million (Q1 2026: US$34.1 million), comprising US$25.9 million from gold and silver sales and US$5.9 million from toll processing.
• Balance sheet: net financial debt reduced to US$1.7 million with cash of US$20.3 million (31 December 2025: US$16.1 million net debt and US$10.5 million cash); US$2.5 million of related party debt repaid in July 2026.
• Updated Guanaco Technical Report: filed subsequent to quarter-end under NI 43-101, extending life of mine to 14 years (Jan 2026 - Feb 2040) with an after-tax NPV of US$192.1 million (10% discount rate; LOM gold price US$3,135/oz).¹

¹ "Technical Report on the Guanaco Mine, Antofagasta Region, Chile" with an effective date of 31 May 2026 is available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the ASX website at (www.asx.com.au). Austral Gold Limited is not aware of any new information or data that materially affects the original market announcement.

Competent Person's Statement

For the purposes of Listing Rule 5.22, the Company confirms that the updated Mineral Reserve and Mineral Resource estimates were based on work reviewed or compiled by the Marcos Valencia, Guillermo Valdés and Francisco Pavez, each a non-independent "Qualified Person" as defined by NI 43-101 and a "Competent Person" as defined in the JORC (2012) Code, either as a Member of the Australian Institute of Geoscientists, or members in good standing of Recognised Professional Organisations in Canada and the United States.

Each Competent Person is an employee of the Company.

Each Competent Person consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

Each Competent Person has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activities undertaken to qualify as a Competent Person as defined in the JORC (2012) Code.

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. Under its equity investments pillar, Austral holds shares in ASX-listed Unico Silver.

For more information, please visit the Company's website at www.australgold.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Release approved by the Chief Executive Officer of Austral Gold, Stabro Kasaneva.

For additional information please contact:

Forward Looking Statements

Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections and statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar expressions are intended to identify forward-looking statements. The forward-looking statements in this announcement and the 2026 Q2 Quarterly Activities Report include, but are not limited to, statements regarding 2026 forecasted production guidance and costs, production, operating cost and cash flow expectations; the Company's 2026 production and cost guidance; the timing, scope and expected outcomes of exploration, drilling, sampling, mapping and geophysical programs; the potential conversion of Mineral Resources to higher-confidence classifications; expectations regarding resource growth and new discoveries; the timing and benefits of capital projects and plant upgrades; the timing and extent of future toll-processing campaigns at Casposo; the timing of permitting and regulatory approvals; future mine plans and production schedules; estimates of Mineral Resources and Mineral Reserves; life-of-mine plans, economic analyses and projected operating and financial performance; and the Company's strategy, business plans and growth opportunities.

All of these forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation, uncertainty of exploration programs, development plans and cost estimates, commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations, the state of the capital markets, uncertainty in the measurement of mineral resources and reserves; and other risks and hazards related to the exploitation and development of mineral properties, as well as the availability of capital. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used.

Austral cannot assure that actual results, performance or outcomes will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. Forward-looking statements reflect the Company's current expectations regarding future events and operating performance and speak only as of the date hereof and Austral does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, readers should not place undue reliance on forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307414