Austin Gold Corp. announced that the Company, as manager of the Kelly Creek joint venture through its wholly-owned subsidiary Austin American Corporation, has given notice that it will terminate certain leases and claim holdings within the Kelly Creek Project, representing approximately 60% of the original claim holdings. Austin and Pediment Gold LLC, a wholly-owned subsidiary of Nevada Exploration Inc., are party to an Exploration and Option to Enter Joint Venture Agreement, with amendments, on the Kelly Creek Project.

The Company believes that the dropped claims no longer fit the Company's objectives.