Austral Gold intercepts silver-gold at Juncal

HIGHLIGHTS Exploration of a silver-gold vein system at the 100%-owned Juncal Silver-Gold Project in Chile, near the Amancaya and Guanaco Mines, continued as planned , with Phase 1 completed and Phase 2 underway (program first announced 12 March 2026). Significant silver-gold results from channel sampling, with continuous surface mineralisation identified across seven of eleven mapped veins . Key highlights include*: Javiera vein:  ~ 1,400 m of strike ; length-weighted average grade of 183 g/t AgEq over 0.7 m (25 channels) for 128 g/t·m AgEq Sofia vein:  ~ 500 m of strike ; length-weighted average grade of 68 g/t AgEq over 1.8 m (15 channels) for 122 g/t·m AgEq Koda vein: ~ 500 m of strike ; length-weighted average grade of 71 g/t AgEq over 1.8 m (7 channels) for 128 g/t·m AgEq * (Quoted widths are channel widths; true widths not yet determined.

AgEq accumulation = average grade × average width. See Table 1.) Phase 1 comprised geological mapping and >1,000 m of channel sampling in trenches using a diamond-blade rock saw. Phase 2 (IP) and Phase 3 (10,000 m of RC drilling) remain on schedule for Q2/Q3 2026.

No historical drilling is known to have been undertaken at Juncal, making the planned program the first known test of the vein system at depth. Austral Gold Limited  (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) ("Austral" or the "Company"), an established gold producer, is pleased to announce the completion of Phase 1 of its exploration program at its 100%-owned Juncal Silver-Gold Project ("Juncal" or the "Project") in Chile. Phase 1, announced on 12 March 2026, was the first stage of the Company's phased exploration program.

Results confirmed mineralisation at the surface across multiple veins and helped prioritise targets for follow-up work. Phase 2, comprising induced polarisation (IP) surveys, is now underway to refine drill targets ahead of a maiden drilling program in Phase