HIGH-GRADE GOLD STRIKES BOOST KATANNING GROWTH POTENTIAL

Promising early results from drilling on newly accessible ground at KGP

Ausgold Limited (ASX:AUC) has reported strong assay results from the first 11 reverse circulation (RC) drill holes of its ongoing 44,000m drilling campaign at the Katanning Gold Project (KGP) in Western Australia. The results stem from drilling on recently acquired land in the Central Zone of the project, marking the first exploration there in over three years.

Drilling has confirmed high-grade gold mineralisation beyond the current Mineral Resource, supporting potential for resource growth and early mine development.

Standout intercepts include:

14m @ 6.18g/t Au from 181m, including 5m @ 16.44g/t Au from 181m in hole BSRC1811
10m @ 2.27g/t Au from 150m, including 3m @ 6.59g/t Au from 150m in BSRC1809
13m @ 2.27g/t Au from 60m, including 9m @ 2.99g/t Au from 61m in BSRC1812
17m @ 1.55g/t Au from 122m, including 8m @ 2.54g/t Au from 128m in BSRC1810
4m @ 6.37g/t Au from 77m in BSRC1814

In total, 5,717m of drilling from 42 holes have now been completed in the program, which is focused on both resource growth and in-fill drilling to support early mine development. A second RC rig is now operating on site.

The drill campaign is targeting two main outcomes:

Resource Growth: Extending known mineralisation and exploring underground potential in the Central Zone
Confirming Early Mine Life: In-fill drilling of high-margin areas to support early-stage mining

Ausgold Executive Chairman, John Dorward, said:
The first tranche of assay results — all from drilling on recently acquired land — reinforces the strong growth potential of the KGP. The recent drilling further validates our Resource model, confirming the consistency and continuity of the mineralisation and highlighting the potential to locally improve grades. Hole BSRC1811 returned very strong mineralisation that sits outside the current Reserve pit shell, offering excellent potential for future expansion of the KGP. We look forward to a continued flow of results over the coming months as drilling advances.