An anonymous director reports

AUGUSTA GOLD ANNOUNCES LOAN EXTENSION

Augusta Gold Corp. has negotiated a three-month extension to the maturity date of its loan with Augusta Investments Inc., the company's largest shareholder.

The company is actively advancing the Reward project and other opportunities in the gold sector. Management intends to use the fully permitted Reward project and brownfield Bullfrog project as a foundation to build a new mid-tier gold company and has the financial support of its largest shareholders.

The Reward project and Bullfrog project host combined measured and indicated mineral resources of 1,635,990 ounces gold and combined inferred mineral resources of 285,000 ounces gold.

Technical reports

The scientific and technical information contained in this news release related to the Reward project is based upon the technical report titled "Mineral Resource Estimate for the Reward Project, Nye County, Nevada, USA" with an effective date of May 31, 2022, prepared by Michael Dufresne and Timothy Scott, who are independent qualified persons under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and subpart 1300 of Regulation S-K under the United States Securities Exchange Act of 1934, as amended.

The scientific and technical information contained in this news release related to the Bullfrog project is based upon the technical report titled "NI 43-101 Technical Report Mineral Resource Estimate, Bullfrog Gold Project, Nye County, Nevada" with an effective date of Dec. 31, 2021, prepared by Russ Downer and Adam House of Forte Dynamics, who are independent qualified persons under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and subpart 1300 of Regulation S-K under the United States Securities Exchange Act of 1934, as amended.

Mineral resource estimates

The company's combined mineral resources comprise the mineral resource estimates herein for the Reward project and Bullfrog project.

About Augusta Gold Corp.

Augusta Gold is an exploration and development company focused on building a long-term business that delivers stakeholder value through developing the Reward and Bullfrog gold projects and pursing accretive merger and acquisition opportunities. The Reward and Bullfrog gold projects are located in the prolific Bullfrog mining district approximately 120 miles northwest of Las Vegas, Nev., and just outside of Beatty, Nev. The company is led by a management team and board of directors with a proven record of success in financing and developing mining assets and delivering shareholder value.

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