On September 13, 2023, Augusta Gold Corp. entered into Amendment Number One to its previously issued Secured Promissory Note issued on September 13, 2022 to Augusta Investments Inc. in the amount of US$22,232,561 (the ?Note?). The Amendment amends Section 1 of the Note to change the maturity date of the Note from September 13, 2022 to the earlier of (i) first Business Day occurring 30 days after the Lender has provided written notice to the Company demanding payment on the entire unpaid balance of principal and all accrued and unpaid interest thereon; (ii) the date upon which the Company makes payment in full of the entire unpaid balance of principal and all accrued and unpaid interest; and (iii) December 13, 2023.

Other than the amendment to the definition of maturity date under the Note, the Amendment does not otherwise amend, alter, supplement or change the provisions of the Note and the Note remains an outstanding obligation of the Company. The foregoing summary of the material terms of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, which is filed as Exhibit 10.1 hereto, and which is incorporated by reference herein.