Mr. Marc Blythe reports

AU GOLD CORP INCREASES OVERSUBSCRIBED PRIVATE PLACEMENT TO $3.5 MILLION

Due to strong demand, Au Gold Corp. has agreed to increase the non-brokered private placement announced on Sept. 29, 2026, to $3,500,025. The placement will now consist of 15,217,500 units priced 23 cents each. Each unit comprises one share and one-half warrant valid for three years. Each whole warrant may be converted to one share of Au Gold by payment of 40 cents. The securities issued with respect to the private placement will be subject to a hold period of four months and one day in accordance with applicable securities laws. This financing is subject to TSX Venture Exchange approval.

Founder and chief executive officer Marc Blythe stated: "The demand from current and new investors has been very strong an indication of their belief in our strategy and plans. The additional funds will provide greater flexibility as we commence drilling at our Havelock gold-antimony project. Even with the increase we were unable to accommodate all of the investor interest in this financing, however the company needs to balance dilution against its exploration budget."

Proceeds of the private placement will be used for exploration on the company's mineral exploration properties and general corporate purposes.

The company continues to aggressively explore its Havelock gold-antimony project, located in Victoria, Australia. Refer to the Sept. 21, 2026, and Sept. 16, 2026, news releases for more information on the company's plans.

Qualified person

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

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