Company: AUST
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001410578-25-000509
Chunk: 160

Company: Austin Gold Corp.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 19
Chunk 160
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. The underwriter warrants expired unexercised on November 6, 2023.

The following are the weighted average assumptions used to estimate the fair value of warrants issued for the years ended December 31, 2024, 2023 and 2022 using the Black-Scholes pricing model:

                                                                   For the year ended  
                               December 31,      December 31,      December 31,        
                               2024              2023              2022                
  Expected life                N/A               N/A               1.91 years          
  Expected volatility          N/A               N/A               109.94              
  Risk-free interest rate      N/A               N/A               1.42                
  Expected dividend yield      N/A               N/A               Nil                 
  Forfeiture rate              N/A               N/A               Nil                 
 ───────────────────────────────────────────────────────────────────────────────────────

Warrant pricing models require the input of subjective assumptions including the expected price volatility and expected share option life. Changes in these assumptions would have a significant impact on the fair value calculation.

14. RELATED PARTY TRANSACTIONS AND BALANCES

Key management includes the Company’s directors and officers including its President, Vice President (“ VP”) Exploration, VP Business Development and Chief Financial Officer (“ CFO”).

Directors and key management compensation is as follows:

                                                                                                                 For the year ended               
                                               December 31,                     December 31,                     December 31,                     
                                               2024                             2023                             2022                             
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Share-based compensation                     $                   993,611      $                   472,236      $                       136,148  
  Management salaries and consulting fees                          694,074                          544,352                              559,591  
  Directors’ fees                                                   73,647                           72,863                               44,380  
                                               $                 1,761,332      $                 1,089,451      $                       740,119  

For the year ended December 31, 2024, the Company’s officers incurred$ 338,837(2023 -$ 57,102; 2022 - $ 50,359) of expenditures in the normal course of business on behalf of the Company.

For the year ended December 31, 2024, the Company incurred$ 67,072(2023 -$ 69,806;