Austral Gold Provides Update on Rawhide Equity Investment
Austral Gold Provides Update on Rawhide
Equity Investment
Sydney, Australia--(Newsfile Corp. - May 30, 2023) -
Established gold producer Austral Gold
Limited's
(ASX: AGD) (TSXV: AGLD) (Austral or the Company) subsidiary, Austral Gold North America
Corp. (AGNA), has decided not to exercise the previously obtained takeover option under an agreement
with Rawhide Acquisition Holding LLC ("RAH"), the RAH unit owners and the Rawhide lenders (the
"Lenders"). The decision comes after AGNA provided bridge financing of US$555,000 to Rawhide, as
announced on 8 May 2023. AGNA's interest in RAH remains at 24.74%.
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.
Release approved by the Chief Executive Officer of Austral Gold, Stabro Kasaneva.
For more 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 those concerning the Company's 2023 forecasted production.
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 discovery and production,
development plans and cost estimates, commodity price fluctuations; political or economic instability
and regulatory changes; currency fluctuations, the state of the capital markets, uncertainty in the
measurement of mineral reserves and resource estimates, the Company's ability to attract 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 with 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. The
Company 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. The Company's
forward-looking statements reflect current expectations regarding future events and operating
performance and speak only as of the date hereof and the Company 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
ARGENTINA
Paleocene Belt, Chile
Guanaco District
Amancaya District
Las Pampa District
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/168101