Reward Project Advancing Completion Of Final Feasibility Study

VANCOUVER - Augusta Gold Corp. announced its plan to complete a Feasibility Study at the Reward Project and continues to push forward environmental studies to support advanced permitting activities and support a mine plan of operations at its Bullfrog Project, both located in the Walker Lane district of southern Nevada.

Reward Project

Augusta Gold is advancing completion of the final Feasibility Study on its Reward open pit/heap leach project in the Walker Lane district of southern Nevada.  Reward has all major federal and state permits in place, sufficient water rights for construction and operation, and existing power supply to the project site.  Prices for goods and services have stabilized sufficiently allowing the Company to advance completion of the Feasibility Study.  Kappes, Cassiday and Associates, based in Reno, NV is the primary contractor for the study, which is scheduled for completion in Q4/2023.  

Don Taylor, President and CEO commented, "The decision to advance directly to a Feasibility Study for the Reward Project was pivotal in bringing the Company closer to its plan to get the mine in production for late 2024.  Additionally, moving forward the permitting, metallurgy and environmental studies at the Bullfrog project will help in the timely progression of making Augusta Gold a substantial Nevada gold producer."

The Bullfrog property, located 7 miles west of Reward, the Company continues to advance environmental studies to support advanced permitting activities and support a mine plan of operations which is expected mid-2024.  The metallurgical testing program is nearing completion.  Column percolation tests remain active with preliminary results indicating metal recoveries for the ore tested grading from 0.23 g/t to 0.80 g/t will range from 74% to 82% at the finer crush of 1.7 mm. The testing indicates that leaching of these ores is expected to have low to moderate sodium cyanide and lime consumption. Final test results are expected in Q3 2023.

Additionally, drill plans are in place to test high potential targets in the Gap target area located north of the planned mining areas at Bullfrog where intense alteration, preserved lithocap and significant surface gold mineralization occur along a major fault corridor.  Two previously completed core drill holes (BFG21-IS39 1.02m of 1.74 g/t Au; BFG21-IS30 1.56m of 0.83 g/t Au) are interpreted to have drilled over the fault intersection with the favorable TR-8 host rock.