NEW GOLD TARGETS IDENTIFIED AT AUSTIN GOLD PROJECT

Strong Early-Stage Drill Results with Follow-Up Drilling Planned

Austin Metals Limited (ASX: AYT) has identified multiple new high-grade gold targets at its Austin Gold Project, located in the Cue (Murchison) region of Western Australia. The targets are positioned 3.5km southeast along strike from Caprice Resources Ltd’s (ASX: CRS) Island Project, which recently delivered 28m @ 6.4 g/t Au from 114m.

The newly identified targets are associated with a NW-SE trending shear zone and a BIF-dominant lithological sequence, similar to the mineralisation at the Island Project. Historical geochemical and geophysical data have supported the identification of these promising areas, with two key target zones exhibiting extensive anomalism over strike lengths of 0.8km and 1.3km.

Recent Reverse Circulation (RC) drilling at the nearby Mt Sandy and Brunswick Hill Prospects has returned strong early-stage intercepts, including:

8.0m @ 2.7 g/t Au from 56m, including 2.0m @ 10.3 g/t Au from 62m (24BHRC04)
6.0m @ 3.5 g/t Au from 65m (24BHRC05)
5.0m @ 2.4 g/t Au from 83m, including 2.0m @ 5.6 g/t Au from 85m (24BHRC03)

Follow-up drilling at Mt Sandy and Brunswick is scheduled to commence in the coming weeks, with planning underway to drill test the newly identified targets as soon as possible.

Strategically, the Austin Gold Project is located in close proximity to several operating gold mines and advanced exploration projects, including Ramelius Resources Ltd’s Mt Magnet Operations, Westgold Resources Limited’s Tuckabianna Plant, and Caprice Resources Ltd’s Island Project.