St. Augustine Announces Late Filing of Annual Financial Disclosure

Executive Summary

• St. Augustine Gold and Copper Limited (TSX: SAU) announces a delay in the filing of its audited annual financial statements, MD&A, and CEO/CFO certifications for the fiscal year ended December 31, 2025, resulting in a default of National Instrument 51-102 Continuous Disclosure Obligations.
• The delay is attributed to the auditor requiring additional time to complete the accounting assessment of certain financial instruments issued during the most recent financial year.
• The Corporation has applied to the Ontario Securities Commission for a Management Cease Trade Order (MCTO) to restrict trading by management, with an expected filing date for the required documents on or prior to April 21, 2026.

Key Details

• Filing Deadline Missed: The required filings (audited annual financial statements, MD&A, CEO and CFO certifications) were due on March 30, 2026, but will be delayed.
• Reason for Delay: The Corporation's auditor, Davidson & Company LLP, requires more time to complete the audit, specifically regarding the accounting assessment of certain financial instruments issued by the Corporation during the year ended December 31, 2025.
• Regulatory Action: An application has been made to the Ontario Securities Commission (OSC) for a Management Cease Trade Order (MCTO).
  • The MCTO would restrict all trading in securities of the Corporation by management (insiders).
  • It does not generally affect the ability of non-insider shareholders to trade.
  • There is no certainty that the MCTO will be granted.
• Remediation Timeline: The Corporation expects to file the Required Filings on or prior to April 21, 2026.
• Compliance Measures: The Corporation intends to satisfy the provisions of the alternate information guidelines of Section 10 of National Policy 12-203 Management Cease Trade Orders while in default.
• Financial Status: The Corporation confirms there are no insolvency proceedings against it as of the date of the release.
• Disclosure Status: The Corporation confirms there is no other material information concerning its affairs that has not been generally disclosed.

Notable Quotes

• "The delay in the completion of the Required Filings is as a result of additional time required by the Corporation's auditor to complete the accounting assessment of certain financial instruments issued by the Corporation during its most recent financial year."
• "The Corporation confirms that there are no insolvency proceedings against it as of the date of this press release."