Austral Gold Announces Updated Guanaco Technical Report

Austral Gold Limited (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) ("Austral" or the "Company"), an established gold producer with two 100% operating mine complexes in Argentina and Chile, is pleased to announce an updated Mineral Reserve and Mineral Resource estimate and a new life-of-mine plan for its Guanaco Mine in the Antofagasta Region of Chile, reported in accordance with Canadian National Instrument 43-101 (CIM Definition Standards), as set out in a new Technical Report entitled "Technical Report on the Guanaco Mine, Antofagasta Region, Chile" with an effective date as of May 31, 2026 and a signature date as of July 21, 2026 (the "2026 Technical Report").

The Mineral Resources and Ore Reserves disclosed in this announcement are also reported in accordance with the JORC Code (2012 Edition) and ASX Listing Rules.

The new Technical Report updates and supersedes the Company's 2022 Technical Report announced on 29 March 2022.

Chief Executive Officer of Austral Gold, Stabro Kasaneva, commented , "We believe the significance of this Technical Report extends well beyond the updated Mineral Reserve. It supports the view that Guanaco can sustain a multi-year mining operation with an approximate mine plan of 14 years, built on existing infrastructure, a disciplined capital program, and a consistent production profile. What differentiates Austral Gold as a junior producer is that it can extend mine life while leveraging existing, permitted processing facilities and established operating infrastructure, although part of the expanded mine plan remains subject to outstanding permits. We anticipate this positions Austral Gold with a strong platform to generate sustainable value in the future from both Guanaco in Chile and Casposo in Argentina.

The 2026 Technical Report has been filed concurrently with this announcement on the ASX ( www.asx.com ) and SEDAR+ ( www.sedarplus.ca ).