Austral Gold Chair Retires; Mr. Elsztain Named Successor
Austral Gold Chair Retires; Mr. Elsztain
Named Successor
Sydney, Australia--(Newsfile Corp. - May 26, 2023) - Austral Gold Limited (ASX: AGD) (TSXV:
AGLD) (
"Austral" or "the Company"
) announces the retirement of Mr. Wayne Hubert, effective at the
conclusion of the Annual General Meeting (
"AGM"
) scheduled to take place on Tuesday, 30 May 2023.
Under the Company's constitution and subject to his re-election at the Company's 2023 AGM, the Board
has resolved to appoint Mr. Eduardo Elsztain (Vice Chair) as Non-Executive Chair.
Mr. Hubert joined the Board in 2011 and has provided an invaluable dedication during his over twelve
years as a Board member and three years as Executive Chair of the Company.
Mr. Elsztain, Vice Chair of the Company's Board of Directors stated:
"Wayne has made notable
and meaningful contributions to the Company, leaving a positive and lasting impression. I express
my gratitude for Wayne's dedicated service and extend my best wishes for his future endeavors."
The Board has resolved to withdraw the following resolutions from the agenda of the Annual General
Meeting of shareholders scheduled to take place on Tuesday, 30 May 2023:
Resolution 2; and
Resolution 9.
The withdrawal of Resolutions 2 and 9 will not affect the validity of the proxy form attached to the Notice
of Annual General Meeting nor any proxy votes already submitted in respect of the remaining resolutions
to be put to shareholders for approval.
Release approved by the Chief Executive Officer of Austral Gold, Stabro Kasaneva.
For additional information please contact:
Jose Bordogna
Chief Financial Officer
Austral Gold Limited
+61 466 892 307
Gareth Quinn
Media and Investor Relations
Republic PR
+61 417 711 108
Forward Looking Statements
Statements in this news release that are not historical facts are forward-looking statements. Forward-
looking statements are statements that are not historical, and consist primarily of projections -
statements regarding future plans, expectations and developments. Words such as "expects", "intends",
"plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar
import tend to identify forward-looking statements. Forward-looking statements in this news release
include the Annual General Meeting scheduled to take place on Tuesday, 30 May 2023 and under the
Company's constitution and subject to his re-election at the Company's 2023 AGM, the Board has
resolved to appoint Mr. Eduardo Elsztain (Vice Chair) as Non-Executive Chair.
All of these forward-looking statements are subject to a variety of known and unknown risks,
uncertainties and other factors that could cause actual events or results to differ from those expressed or
implied, including, without limitation, business integration risks; uncertainty of production, uncertainty of
exploration programs, development plans and cost estimates, commodity price fluctuations; political or
economic instability and regulatory changes; currency fluctuations, the state of the capital markets
especially in light of the effects of the novel coronavirus,, uncertainty in the measurement of mineral
reserves and resource estimates, Austral's ability 2ttarct and retain qualified personnel and
management, potential labour unrest, reclamation and closure requirements for mineral properties;
unpredictable risks and hazards related to the development and operation of a mine or mineral property
that are beyond the Company's control, the availability of capital to fund all of the Company's projects
and other risks and uncertainties identified under the heading "Risk Factors" in the Company's
continuous disclosure documents filed on the ASX and on SEDAR. You are cautioned that the foregoing
list is not exhaustive of all factors and assumptions which may have been used. Austral cannot assure
you that actual events, performance or results will be consistent with these forward-looking statements,
and management's assumptions may prove to be incorrect. Austral's forward-looking statements reflect
current expectations regarding future events and operating performance and speak only as of the date
hereof and Austral does not assume any obligation to update forward-looking statements if
circumstances or management's beliefs, expectations or opinions should change other than as required
by applicable law. For the reasons set forth above, you should not place undue reliance on forward-
looking statements.
About Austral Gold
Austral Gold is a growing gold and silver mining producer building a portfolio of quality assets
in the Americas.
Austral continues to lay the foundation for its growth strategy by advancing its attractive
portfolio of producing and exploration assets.
OPERATIONS
Guanaco and Amancaya mines, Antofagasta Province, Chile
(100% interest)
Open pit and underground.
2023 Forecast: 34,000-38,000 gold equivalent ounces
Casposo/Manantiales Mine Complex, San Juan Province, Argentina
(100% interest)
Gold and silver mine currently in care and maintenance. Strategy is to restart profitable mining
operations.
EXPLORATION
CHILE
Paleocene Belt, Chile
Guanaco District
Amancaya District
Las Pampa District
ARGENTINA
Triassic Choiyoi Belt
Indio Belt
Deseado Massif
EQUITY INVESTMENTS
Unico Silver Limited, an ASX listed company
Pampa Metals Corp, a CSE listed company
Ensign Minerals Inc., private vehicle, Utah, USA
Rawhide Mine, private vehicle, Fallon, Nevada, USA
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/167666