Au Gold Corp Selects the First Two High-Priority Drill Targets at its Havelock Gold-Antimony Project, Victoria, Australia

AU Gold Corp. announced the selection of the first two high-priority diamond drill targets at its Havelock Gold-Antimony Project in Victoria, Australia: the McFarlane and Shaw’s No.1 North targets. The McFarlane target focuses on the down-plunge continuation of historical gold-antimony mineralization, with historical records indicating ultra-high grades averaging approximately 23 g/t Au, mined to a depth of 107 meters.

The Shaw’s No.1 North target aims to test continuity below the 180-foot (55 m) level and establish plunge geometry, while also testing a parallel reef system east of the main workings. Phase 1 diamond drilling will systematically target the down-plunge extent of mineralization from the 350’ level. Both targets require permission from private landowners, and the company is in active discussions regarding access.

The release emphasizes that historical data predates NI 43-101 standards, relies on subjective visual commentary from the 1880s, and carries no certainty that exploration will define resources.

AU Gold Corp. (AUGC) announced a standard progression in its exploration lifecycle, with target selection following historical reconstruction and surface sampling completed in July and August 2026. The announcement includes no drill results, assay data, or capital raises. The market has already priced in the exploration phase following the $2 million private placement and acquisition closing in March 2026.

Reliance on pre-NI 43-101 historical data and pending landowner access introduces execution risk. Until actual drilling commences and assays are released, the news lacks the catalyst required to move the stock materially. The development confirms management is executing on its stated Q3/Q4 2026 drilling timeline but does not alter the fundamental risk profile or valuation.

Au Gold Corp (AUGC) is an early-stage exploration company focused on the Havelock Gold-Antimony Project in Victoria, Australia. The project covers 11,663 hectares and features an epizonal gold-antimony quartz reef system along the ~9 km Shaw-McFarlane Trend. Historical production between 1864 and 1891 totaled approximately 17,097 ounces at an average grade of 28.7 g/t gold. Historic workings reached depths of 152–274 meters, leaving significant untested depth potential. The company has completed historical reconstruction, surface sampling, and target selection, though no modern diamond drilling has been conducted to date.