AUGUSTA GOLD ANNOUNCES LOAN INCREASE AND EXTENSION; APPOINTMENT OF TY MINNICK AS INTERIM CFO

Rhea-AI Summary

Augusta Gold Corp. increases loan amount with Augusta Investments Inc., extends loan maturity date, appoints Ty Minnick as Interim CFO, and thanks Michael McClelland for his service.

VANCOUVER, BC, March 28, 2024 /PRNewswire/ - Augusta Gold Corp. (TSX: G) (OTCQB: AUGG) (FSE:11B) ("Augusta Gold" or the "Company") announces that it has increased the amount of its loan (the "Loan") with Augusta Investments Inc. (the "Lender"), the Company's largest shareholder, by $525,000 (the "Increase"). In connection with the Increase, the Company paid an origination fee to the Lender in the amount of $25,000. The Company has also extended the maturity date of the Loan to June 30, 2024 (the "Extension"). In connection with the Extension, the Company paid an extension fee to the Lender of $27,790.70.

The Company is also pleased to announce the appointment of Ty Minnick as Interim Chief Financial Officer of the Company, effective as of April 1, 2024. Mr. Minnick has been working with Augusta Gold Corp. as a consultant, (formerly, Bullfrog Gold Corp.), and was its Chief Financial Officer from 2011 until October 2020. Mr. Minnick has served as the Chief Financial Officer of Athena Gold Corp since May 2021 and has 13 years of experience in the mining industry.  Since December 2018, Mr. Minnick has acted as a Certified Public Accountant (1993) with Grand Mesa CPAs, LLC.

The Company would like to thank Michael McClelland for his years of service as CFO and wishes him the best in his future endeavours.

About Augusta Gold

Augusta Gold is an exploration and development company focused on building a long-term business that delivers stakeholder value through developing the Reward and Bullfrog gold projects and pursing accretive M&A opportunities. The Reward and Bullfrog gold projects are located in the prolific Bullfrog mining district approximately 120 miles north-west of Las Vegas, Nevada and just outside of Beatty, Nevada. The Company is led by a management team and board of directors with a proven track record of success in financing and developing mining assets and delivering shareholder value. For more information, please visit www.augustagold.com.

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SOURCE Augusta Gold Corp.

FAQ

What is the ticker symbol for Augusta Gold Corp. mentioned in the press release?

The ticker symbol for Augusta Gold Corp. mentioned in the press release is AUGG.

What is the amount by which Augusta Gold Corp. increased its loan with Augusta Investments Inc.?

Augusta Gold Corp. increased its loan with Augusta Investments Inc. by $525,000.

Who has been appointed as the Interim Chief Financial Officer of Augusta Gold Corp.?

Ty Minnick has been appointed as the Interim Chief Financial Officer of Augusta Gold Corp.

How long has Ty Minnick been working in the mining industry?

Ty Minnick has 13 years of experience in the mining industry.

When is the new maturity date of the loan extended to?

The new maturity date of the loan has been extended to June 30, 2024.