Au Gold Corp Enters Agreement to Acquire Havelock Gold-Antimony Project in the Heart of the Victorian Gold Fields, Australia

Executive Summary

• Au Gold Corp entered into a definitive agreement to acquire 100 % of the 11,663‑ha Havelock Gold‑Antimony Project in Victoria, Australia from Leviathan Gold Australia.
• Consideration consists of C$75,000 cash and issuance of 5 million Au Gold common shares (≈11.16 % of post‑closing equity), plus per‑ounce payments for future resource definition and production.
• The project hosts historic underground workings with recorded gold grades of 1–10 oz/ton, shallow undrilled epizonal/mesozonal targets, and documented antimony occurrences, providing a strong exploration upside.

Key Details

• Purchase Price & Structure
• C$75,000 cash payable at signing (C$10,000) and upon TSX‑V acceptance (C$65,000).
• Issuance of 5 million Au Gold common shares to LGA (≈11.16 % of post‑closing equity).
• Earn‑out / Per‑Ounce Payments
• Au Gold will pay LGA $3 CAD per ounce discovered (measured, indicated or inferred).
• Under a prior agreement with Mercator Gold Australia, Au Gold will also pay A$1 per ounce discovered and A$1 per ounce produced to Mercator, capped at A$1 M each.
• Project Highlights
• 11,663 ha located between Bendigo and Ballarat; excellent year‑round access via paved highways and gravel tracks.
• Historic production from small‑scale underground workings with grades of 1–10 oz/ton gold; antimony present in historic veins.
• Shallow undrilled epizonal and mesozonal gold‑antimony targets; coarse alluvial gold (nuggets) historically recovered.
• Notable historic drill program (2021, Leviathan) returned significant intercepts, e.g., 56.40 g/t Au over 1.11 m (hole 21LEV002).
• Exploration Potential
• No modern drilling has been performed on the Shaw‑McFarlane Trend (≈9 km of historic workings).
• Recent surface sampling from a 2010 dam excavation yielded high‑grade gold‑bearing quartz (up to 23 kg recovered).
• Epizonal systems in the region are known to extend >1,000 m depth; historic mining reached only 152–274 m.
• Corporate Actions
• Au Gold incorporated Havelock Gold Pty Ltd (Australian wholly‑owned subsidiary) to hold the project.
• Replaced an existing A$10,000 environmental bond with Au Gold.
• Post‑closing plan: commence exploration quickly; NI 43‑101 Technical Report being prepared by qualified person William Wengzynowski, P.Eng.
• Regulatory / Shareholder Impact
• Transaction qualifies as a “Fundamental Acquisition” under TSX‑V policies.
• LGA will own 5 million shares (≈11.16 % of non‑diluted equity) after closing.

Notable Quotes

“Recent success at Fosterville, Sunday Creek and Costerfield has highlighted the potential of Victoria’s epizonal gold‑antimony deposits… We are very excited to start exploration, including testing high priority gold‑antimony targets at Havelock.” – Marc Blythe, President & CEO, Au Gold Corp.