Austin Gold Corp. provided the following projects updates. Austin has received approval from the BLM for its planned drilling program at its Miller Project located at the southern end of the Carlin gold trend in Elko County, Nevada.

The exploration target is Carlin-type gold mineralization hypothesized to occur beneath Quaternary gravels and Tertiary volcanic rocks that may be indicated by gold and multi-element biogeochemical anomalies. The drilling program is scheduled to begin in July of this year, subject to drill contractor availability. At the Stockade Mountain Project, Malheur County, Oregon, Austin is continuing to work with the Oregon Department of Geology and Mineral Industries to process the Exploration Permit application submitted in late 2022.

Stockade Mountain is a gold and silver exploration-stage project with a history of significant exploration work, most notably by BHP- Utah, Phelps Dodge and Placer Dome in the 1990s, followed by twenty years of little to no work. Austin's drilling program is designed to test beneath the known high-level gold/silver-bearing stockworks mineralization for high-grade vein deposits formed deeper in the hydrothermal system. Historical near-surface drill intercepts include 260 ft (79.2 m) averaging 0.937 grams per tonne ("g/t") Au from 150 - 410 ft (45.7 - 125 m).

Numerous other drill holes returned long intercepts of >0.2 g/t Au. Subject to permitting, weather conditions, and drill rig availability, Austin plans to initiate drilling at Stockade Mountain in late spring or early summer. Austin continues data compilation, evaluation, and drill targeting on its Lone Mountain Project, Elko County,Nevada.

The Lone Mountain property exposes one of about a dozen lower-plate carbonate windows through the regional Roberts Mountains thrust and related faults. The large Carlin-type deposits at Carlin, Jerritt Canyon, and Cortez are localized in or near such carbonate windows.