Au Gold Corp Enters Agreement to Acquire Havelock Gold-Antimony Project in the Heart of the Victorian Gold Fields, Australia
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NR01-2026
Au Gold Corp Enters Agreement to Acquire Havelock Gold-Antimony
Project in the Heart of the Victorian Gold Fields, Australia
Vancouver, British Columbia – January 14, 2026 – Au Gold Corp (TSXV: AUGC) (“AUGC”
or the “ Company”) is pleased to announce that it has entered into an agreement (the
“Agreement”) with Leviathan Gold Australia (“ LGA”), a wholly owned subsidiary of
Leviathan Metals Corp (TSX. V: LVX), dated January 12, 2026, to acquire (the “Acquisition”)
a 100% interest in the 11,663 hectare Havelock Gold -Antimony Project (“Havelock”, or the
“Project”), located in the heart of the Victorian gold fields in Australia, half-way between
Bendigo and Ballarat.
Highlights of Havelock:
▪ Shallow, undrilled epizonal and mesozonal gold +/- antimony targets
▪ Historical production from multiple small -scale underground workings with
recorded gold grades between 1 – 10 ounces per ton1
▪ Antimony reported in historic underground workings2
▪ History of coarse alluvial gold (nuggets) on the property3
▪ Excellent access with year-round exploration potential
Marc Blythe, AUGC’s President and CEO stated , “Recent success at Fosterville (Agnico
Eagle), Sunday Creek (Southern Cross Gold) and Costerfield (Alkane Resources) has
highlighted the potential of Victoria’s epizonal gold-antimony deposits. At Havelock, mining
in the 1880’s recovered high -grade gold -bearing quartz reef with abundant stibnite
(antimony sulphide) at one of at least seven workings along a 9 km trend within the project
area. This historic mining has never been followed up with modern exploration programs or
drilling. We are very excited to start exploration, including testing high priority gold-
antimony targets at Havelock” .
Epizonal gold systems, such as those mentioned above, have created high -grade gold
deposits that are now a focus for modern exploration. Significant antimony with gold in this
part of Victoria is regarded as a reasonable proxy for epizonal gold mineralization4.
The Company has agreed to pay LGA, an arms length party , C$75,000 and issue 5 million
shares of AUGC for a 100% interest in the Project. In addition , AUGC will pay per ounce
1 1885-Q4, The Gold-Fields of Victoria, Reports of the Mining Registrars, Department of Mines, Victoria.
2 Whitelaw, H.S., 1899, Notes on Antimony ores in Victoria, G1643.
3 Dunn, E.J., 1912 List of Nuggets Found in Victoria, Geological Survey of Victoria Memoir 12.
4 Moore, D.H., 2007, Gold Undercover – Classifying gold bearing deposits in central and western Victoria,
Australia, Department of Primary Industries, Victoria.
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payments for future resource definition – see “Transaction Details” below. The Acquisition
is subject to acceptance for filing by the TSX Venture Exchange.
About the Havelock Gold-Antimony Project
The Project is located in the heart of the Victorian gold fields near Maryborough, roughly
halfway between Bendigo and Ballarat and a bout 1.5 hours drive from Melbourne,
Australia. Paved highways and roads, along with gravel tracks provide year-round, ready
access to all areas of the Project. Land ownership is a combination of government (Crown)
land and private property.
The first discovery at the Maryborough goldfield was made on this property in 1853 5, with
nuggets and alluvial gold, which led to small scale hard rock mining. Water pumping and
processing technologies were rudimentary during this period and mining generally targeted
high grades above the water table. Two significant gold-bearing structural trends cross the
property with numerous historical workings evident. The first is the Shaw-McFarlane Trend
(“SMT”), which comprises about 9 km of intermittent small scale historic workings with
recorded multi -ounce per ton gold production in the late 1800’s 6. The SMT has had
minimal modern exploration and most targets have never been drilled.
In 2010, a local landowner had a water storage dam excavated on their property (situated in
the central part of the SMT) and a metal detector operator reportedly recovered 514 ounces
of gold, including 23 kg of gold bearing quartz material from the excavation 7. Management
believes the dam excavation intersected the top of a gold-bearing quartz vein (reef) that has
never been explored historically or drill tested (see Figure 1). The samples shown in Figure
1 were obtained from the dam spoil material, located at 5,904,195 N, 746,275 E (GDA94
Zone 54). Samples were identified as gold -bearing, first by metal detector response and
then visually. Individual sample weights varied between 0.238 g and 3.07 g.
The reader is cautioned that the sample selection process described above is designed to
identify high -grade samples which may not be representative. The disclosure is included
because the se samples will be used as a vector to guide future exploration activities
specifically at the dam target.
The gold -bearing s amples were delivered to On Site Laboratory Services, located in
Bendigo, Victoria by LGA. On Site Laboratory Services is a NATA accredited laboratory,
certified as compliant with ISO/IEC 17025 (2017) – Testing. Samples were assayed using
fire assay with gravimetric finish (Code PE01S). Results were reported as parts per million
and subsequently converted to percent gold content. LGA did not report QA/QC protocols
and no blanks or standards were added to the sample stream by LGA. On Site Laboratory
Services added one standard and one blank to the sample batch and these samples
5 https://collections.museumsvictoria.com.au/articles/2298
6 Howitt, A.M., 1913, The Maryborough Gold-Field, Geological Survey of Victoria Memoir 11.
7 Whitehouse, K., 2021, Personal communication.
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returned values within industry accepted standard deviations . There is no relationship
between On Site Laboratory Services and the Company.
Figure 1 Photograph of gold-bearing quartz
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The second structural trend is the Leviathan-Mariner’s Trend (“LMT”), which covers 3 km of
historic workings. In 2021, Leviathan completed an 8-hole diamond drill program along a
270 m portion of the LMT targets. The drill program returned significant results from 4 of
the 8 drillholes, justifying further work.
Table 1 Leviathan 2021 Drill Highlights
Drill Hole From (m) To (m) Interval (m) Gold (g/t)
21LEV002 232.05 239.15 7.10 3.06
and 242.40 243.51 1.11 56.40
21LEV004 241.00 245.20 4.20 4.75
21LEV005 335.13 337.90 2.77 18.86
21LEV006 224.50 227.74 3.24 6.91
Historic underground mining reached a maximum depth of 500 feet (152 m) on the SMT and
900 feet (274 m) on the LMT, limited by mining techniques and the presence of ground
water. Mesozonal and epizonal gold systems are known to have depth extents of more than
1,000 m at other locations in Victoria, highlighting the potential below these historic
workings.
Epizonal gold systems are believed to have formed in the Late Devonian, specifically
between 380 – 370 Ma. A dyke at Bristol Hill Mine (Maryborough), about 10 km south of
Havelock was dated at 370 Ma, while a granite 10 km northwest of Havelock was dated at
391 Ma +/ - 8, indicating that Late Devonian intrusions potentially exist on or near the
property.
LGA previously referred to the Project as the Timor property.
The Dja Dja Wurrung Aboriginal people are the traditional owners of the land on which the
Project is located. A Land Use Activity Agreement is in place for the project, providing
clarity for both the Dja Dja Wurrung and the project operator.
The Company advises that there are no current Mineral Resources on the Project and
cautions that despite the documented historic production, there is no certainty that
exploration will result in mineral resources being estimated.
Transaction Details
For a 100% interest in the Project, AUGC has agreed to pay LGA:
▪ 5 million AUGC common shares
▪ $10,000 (CAD) on signing of the Agreement
▪ $65,000 (CAD) on TSX Venture Exchange acceptance for filing
In addition, AUGC will pay LGA $3 per ounce discovered (measured, indicated or inferred
category). AUGC also agrees to honour an agreement between LGA and Mercator Gold
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Australia (“Mercator”) who vended the project to LGA. Under this agreement, a payment of
A$1 per ounce discovered (measured, indicated or inferred) and A$1 per ounce produced
shall be paid to Mercator. Payments to Mercator are capped at A$1 million for ounces
discovered and A$1 million for ounces produced.
AUGC has incorporated a wholly owned Australian subsidiary, Havelock Gold Pty Ltd to
hold the project. No finders fees are payable in connection with this transaction.
The Company will also replace a A$10,000 environmental bond which is already in place by
LGA.
Post-closing, the Company plans to move quickly to commence exploration on the project.
The Transaction is a Fundamental Acquisition under TSX Venture Exchange policies and a
National Instrument 43-101 Technical Report on the Project is being prepared for AUGC by
an independent Qualified Person. The Technical Report will be filed on SEDAR+ once it has
been reviewed and accepted by the TSX Venture Exchange.
Technical information in this press release was prepared under the supervision of Mr.
William Wengzynowski, P .Eng., a Qualified Person as defined by NI 43 -101. Mr.
Wengzynowski is AUGC’s Exploration Manager.
Following completion of the transaction, LGA will beneficially own and control 5,000,000
Common Shares, representing 11.16 % of the issued and outstanding Common Shares of
the Company on a non-diluted basis.
This press release and LGA’s corresponding early warning report (the “Early Warning
Report”) which is expected to be filed on SEDAR+ in the near term, constitutes the required
disclosure pursuant to section 5.2 of National Instrument 62 -104. Take-Over Bids and
Issuer Bids (“NI 62-104”). The securities acquired by LGA are for investment purposes. LGA
has no current intention to enter into any of the transactions listed in clauses (a) to (k) of
item 5 of Form 62 -103F1 of National Instrument 62 -103. The Early Warning System and
Related Take-over Bid and Insider Reporting Issues (“NI 62-103”), but in the future LGA may
acquire or dispose of securities of the Company depending on market conditions,
reformulation of plans and/or other relevant factors, in each case in accordance with
applicable securities laws.
The Early Warning Report that will be filed on SEDAR+ will satisfy the requirement of
section 5.2 of NI 62 -104 to have the Early Warning Report filed by an acquiror, in this case
by LGA, with the securities regulatory authorities in each of the jurisdictions in which the
Company is a reporting issuer and which contains the information required by section 3.1
of NI 62-103, which includes the information required by Form 62-103F1.
A copy of the Early Warning Report filed by LGA in connection with the Offering will be
available under the Company’s profile on the SEDAR+ website at www.sedarplus.ca.
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For further information, please contact:
Au Gold Corp
Marc G. Blythe, MBA, P .Eng., President & Chief Executive Officer
Sandrine Lam, Investor Relations Phone: 1-604-687-3520 Ext. 250
augoldcorp.com
About Au Gold
Au Gold Corp (TSX-V: AUGC) is a gold exploration company focused on advancing its
flagship Havelock gold-antimony project in the Victorian Gold Fields in Australia and the
Ponderosa gold project in the Spences Bridge Gold Belt in British Columbia, Canada.
Cautionary Note
This release includes certain statements and information that may constitute forward -
looking information within the meaning of applicable Canadian securities laws. Forward -
looking statements relate to future events or future performance and reflect the
expectations or beliefs of management of the Company regarding future events. Generally,
forward-looking statements and information can be identified by the use of forward -looking
terminology such as “intends” or “anticipates”, or variations of such words and phrases or
statements that certain actions, events or results “may” , “could” , “should” , “would” or
“occur”. This information and these statements, referred to herein as "forward -looking
statements" , are not historical facts, are made as of the date of this news release and
include without limitation, statements regarding discussions of future plans, estimates and
forecasts and statements as to management's expectations and intentions with respect to,
among other things, the completion of the Acquisition, receipt of TSX Venture Exchange
acceptance, future exploration activities including drilling on the Project, and the
preparation and filing of a National Instrument 43-101 Technical Report.
These forward -looking statements involve numerous risks and uncertainties and actual
results might differ materially from results suggested in any forward -looking statements.
Such risks and uncertainties include, among other things, the ability of the Company to
obtain sufficient financing to fund its business activities and plans, delays in obtaining
governmental and regulatory approvals (including of the TSX Venture Exchange), changes in
laws, regulations and policies affecting mining operations, currency fluctuations, market
uncertainty, as well as those factors discussed in the Company's most recently filed
management's discussion and analysis and other filings of the Company with Canadian
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securities authorities, copies of which can be found under the Company's profile on the
SEDAR+ website at www.sedarplus.ca.
In making the forward looking statements in this news release, the Company has applied
several material assumptions, including without limitation, that the Company will be able to
complete the Acquisition as anticipated, that it will obtain all necessary regulatory
approvals, including the acceptance of the TSX Venture Exchange and that the Company
will be able to obtain sufficient financing to carry out its planned exploration activities.
Although management of the Company has attempted to identify important factors that
could cause actual results to differ materially from those contained in forward -looking
statements or forward -looking information, there may be other factors that cause results
not to be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward -looking statements and forward -looking information.
Readers are cautioned that reliance on such information may not be appropriate for other
purposes. The Company does not undertake to update any forward -looking statement,
forward-looking information or financial out-look that are incorporated by reference herein,
except in accordance with applicable securities laws. We seek safe harbour.
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Figure 2 Havelock Project Detail Map