Australian Goldfields Grants Stock Options

May 27, 2021 / Vancouver, BC / Australian Goldfields Limited (formerly Graphite Energy Corp.) (the “Company”) (CSE:AUGF) (OTC:GRXXF) (Frankfurt: G0A) announces that it has granted incentive stock options to purchase a total of 3,050,000 common shares at an exercise price of $0.20 per share for a period of five years to certain directors, consultants and advisory board members in accordance with the provisions of its stock option plan.

On behalf of the board of directors:

Adrian Hobkirk President, CEO and Director

T: 954.684.8040 E: [email protected] W: www.australiangoldfields.com

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