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Austral Gold Files Amended Annual Report

Financials

Austral Gold Files Amended Annual Report

Vancouver, British Columbia--(Newsfile Corp. - April 23, 2018) - Austral Gold Limited (ASX: AGD) (TSXV: AGLD) (the

"Company"

) is providing an amended copy of its Annual Report for 2017, originally lodged on 27 March 2018. The report is

available at

http://www.asx.com.au

,

www.sedar.com

and the Company's website

www.australgold.com

.

The Company advises of typographical errors on Page 24 of its Annual Report in relation to the Mineral Resources and Ore

Reserves Statement for 31 December 2017. The disclosure of probable reserves of Amancaya gold and silver has been

corrected as follows:

Number of probable Gold reserves for the Amancaya Underground mine corrected to 693kT at 6.5g/t

Number of probable Silver reserves for the Amancaya Underground mine corrected to 693kT at 42.5 g/t

About Austral Gold

Austral Gold Limited is a growing precious metals mining, development and exploration company building a portfolio of

quality assets in Chile and Argentina. The Company's flagship Guanaco project in Chile is a gold and silver producing mine

with further exploration upside. The Company is also operator of the underground silver-gold Casposo mine in San Juan,

Argentina. With an experienced local technical team and highly regarded major shareholder, Austral's goal is to continue to

strengthen its asset base through acquisition and discovery. Austral Gold Limited is listed on the TSX Venture Exchange

(TSXV: AGLD), and the Australian Securities Exchange (ASX: AGD). For more information, please consult the company's

website

www.australgold.com

.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX

Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For additional information please contact:

Jose

Bordogna

Chief Financial Officer

Austral Gold Limited

[email protected]

+54 (11) 4323 7558

Andrew Bursill

Company Secretary

Austral Gold Limited

[email protected]

+61 (2) 9299 9690