Austral Gold Announces Updated Guanaco Technical Report

HIGHLIGHTS 14-year mine life and US$192.1 million after-tax NPV (10% discount rate): New NI 43-101 Technical Report, prepared by the Company's Qualified Persons, establishing a life-of-mine plan for Guanaco (Chile) from January 2026 to February 2040, built on existing mining and processing infrastructure. Mineral Reserves: Proven and Probable Mineral Reserves of 18.1 Mt grading 0.84 g/t Au and 5.43 g/t Ag, containing approximately 352 Koz Au and 1.493 Moz Ag (estimated at US$2,200/oz Au and US$25/oz Ag). Measured & Indicated Resources: 17.0 Mt grading 0.94 g/t Au and 6.11 g/t Ag containing approximately 511 Koz Au and 3.269 Moz Ag (estimated at US$2,500/oz Au and US$27.5/oz Ag).

Inferred Resources: 2.0 Mt grading 1.17 g/t Au and 7.14 g/t Ag, containing approximately 77 Koz Au and 466 Koz Ag. Metallurgical recoveries: Average Life of Mine (LOM) recovery of 72% for gold and 47% for silver. The LOM average is materially influenced by heap-reprocessing material; higher-grade feed achieves higher recoveries.

Metal prices (economic analysis): LOM average prices of US$3,135/oz gold and US$42/oz silver, used in the discounted cash-flow (DCF) model and based on the median of independent third-party consensus forecasts. Mineral Resources and Mineral Reserves are estimated at the lower prices noted above. Costs & Capital: All-in Sustaining Cost (AISC) of US$2,114/oz AuEq and Operating Cost (C1) of US$1,978/oz AuEq.

LOM capital expenditure of US$13.9 million (US$2.2 million sustaining, US$11.7 million closure and reclamation). *See tables below for assumptions used in the estimates **Only Measured and Indicated mineral resources are used in calculating the NPV Sydney, Australia--(Newsfile Corp. - July 22, 2026) - 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 updat