Mr. Marc Blythe reports

AU GOLD CORP IDENTIFIES HIGH-GRADE GOLD TARGETS AT ITS HAVELOCK PROJECT, VICTORIA, AUSTRALIA

Au Gold Corp.'s recent fieldwork (see March 23, 2026, news release), combined with historical data compilation and analysis, has resulted in the identification of priority, high-grade drill targets at the Harvey's Reef target on its Havelock gold-antimony project, Victoria, Australia.

Harvey's Reef target highlights:

• Part of parallel vein system west of the main Shaw-McFarlane trend (SMT);
• One example of historical (1906) small-scale production from shallow workings reported 16 ounces (oz) gold from 11 short tons of vein material;
• Historical (1985) reverse circulation (RC) drill hole returned 1.5 metres (m) grading 9.24 grams per tonne (g/t) gold from 34.5 m deep on a parallel vein to the west;
• Select sample of quartz-stibnite collected during the preparation of Au Gold's independent technical report returned grades of 12.2 g/t gold and 1,800 parts per million (ppm) antimony.

Marc Blythe, Au Gold's founder and chief executive officer, stated: "Our highly prospective Havelock gold-antimony project has delivered its first off-trend drill target. Through our recently completed fieldwork and historical data compilation, we are highly encouraged by the tenor of historical mineralization and potential for parallel high-grade gold vein zones at Harvey's Reef. The main occurrence at Harvey's Reef does not appear to have been drill tested and results from the more recent RC drilling likely represent a shallow, parallel high-grade gold zone. Harvey's Reef will be added to the list of high-quality drill targets that AUGC intends to test later in 2026."

Harvey's Reef

Harvey's Reef is located 1.3 kilometres (km) northwest of the McFarlane shaft on the SMT and is readily accessible by two-wheel drive roads and gravel trails. Northerly trending quartz veins occur within phyllic altered siltstones and along the footwall and/or hangingwall contacts of a local lamprophyre dike. Late iron carbonate quartz breccia also occurs locally, proximal to historic workings.

The main occurrence at Harvey's Reef was discovered in 1906 and is described by Howitt (1913) as occurring "directly on the wall of a large lamprophyre dike (up to five m thick) striking north, 18 degrees west and dipping 60 degrees to 70 degrees west, across the strata, which dip east." The quartz vein averages 30 centimetres (cm) thick and is historically documented on both the dike hangingwall and footwall contacts. Gold grades of one oz per ton were reported from the hangingwall while greater than one oz per ton was reported from the footwall. Enhanced gold grades in the footwall portions of other veins in the district are observed in modern production settings. The main occurrence at Harvey's Reef has only received limited exploration along strike and to shallow depths (18 m at the deepest) where the mineralization locally pinched and is described with a southerly plunge.

Exploration in the 1980s and 1990s identified widely spaced (200 m) anomalous gold-in-soil values, which led to the drilling of three RC holes and a series of rotary air blast (RAB) holes 170 m west of the main occurrence. The most significant result was obtained from the RC drilling, which returned 1.5 m grading 9.24 g/t gold from 34.5 m deep. The mineralized interval was logged as silty sandstone and shale with less than 1 per cent quartz. Quartz-stibnite mineralization collected in 2025 during the technical report preparation and described in the Feb. 25, 2026, news release (12.2 g/t gold and 0.18 per cent antimony), roughly aligns with the potential vein trend tested by the RC drilling.

Also of note is the quartz veins and historical workings at Harvey's Reef are situated at the headwaters of a local tributary of Four Mile Creek coincident with a section of moderate historical alluvial gold workings.

Harvey's Reef occurs on Crown land managed by Parks Victoria, whose consent will be required prior to drilling, along with the consent of traditional owners Dja Dja Wurrung.

Au Gold to present at Metals Investor Forum (MIF), May 8 to May 9, Vancouver

Au Gold will present at the upcoming MIF in Vancouver on May 8 and May 9 The MIF is the pre-eminent retail focused investor conference for junior exploration companies. The conference is located at the JW Marriott Parq Hotel in Vancouver, and investors are invited to register and attend if they wish to meet with company management.

Semi-annual reporting

Au Gold has elected to rely on Coordinated Blanket Order 51-933 and move to semi-annual financial reporting (SAR).

Coordinated Blanket Order 51-933 allows eligible venture issuers listed on the TSX Venture Exchange to voluntarily move from a quarterly to a semi-annual financial reporting framework. Au Gold's fiscal year ends on March 31. Under the SAR pilot program, the company will be exempt from filing interim financial reports and related management's discussion and analysis (MD&A) for its first and third quarters:

• Interim period: The company will not file an interim report for the first quarter (Q1) ending June 30 and the third quarter (Q3) ending Dec. 31.
• Continuing reporting: The company will continue to file audited financial statements (due within 120 days of March 31) and six-month interim financial reports (due within 60 days of Sept. 30).

Au Gold confirms it meets the pilot program's eligibility criteria, which include being a venture issuer with annual revenues of less than $10-million and maintaining a clean 12-month continuous disclosure record.

This news release is being filed pursuant to Coordinated Blanket Order 51-933, Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers.

Marketing engagement

The company has entered into a marketing services agreement effective April 6, 2026, with Resource Stock Digest (RSD), a company based out of Texas, pursuant to which, among other things, RSD has agreed to provide certain promotional services to the company in accordance with TSXV Policy 3.4, Investor Relations, Promotional and Market-Making Activities. RSD has been engaged for a 12-month marketing campaign for an initial cost of $8,500 (U.S.), payable on signing the agreement, and a monthly fee of $2,450 (U.S.). RSD conducts interviews with the company and produces company-approved content that is distributed to RSD's subscriber base and connects issuers to the investment community across North America. There are no performance factors contained in the agreement and RSD will not receive common shares or options as compensation. Further, RSD and the company are arm's length, and, at the time of the agreement, RSD and its principals held a total of 800,000 common shares and 400,000 share purchase warrants of the company.

The agreement is subject to the approval of the TSX Venture Exchange. RSD is owned and operated by Gerardo Del Real and Nick Hodge, and its contact details are as follows: Resource Stock Digest, 2250 Double Creek Dr., No. 5669, Round Rock, Tex., 78665; e-mail: editor@resourcestockdigest.com.

Qualified person

Technical information in this news release was prepared under the supervision of William Wengzynowski, PEng, a qualified person as defined by National Instrumnent 43-101. Mr. Wengzynowski is Au Gold's exploration manager.

About Au Gold Corp.

Au Gold is a gold exploration company focused on advancing its flagship Havelock gold-antimony project in the Victorian gold fields in Australia and the Ponderosa gold project in the Spences Bridge gold belt in British Columbia, Canada.

We seek Safe Harbor.