Company: AUST
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001410578-25-000509
Chunk: 138

Company: Austin Gold Corp.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 19
Chunk 138
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 standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

MANNING ELLIOTT LLP

CHARTERED PROFESSIONAL ACCOUNTANTS

/s/ Manning Elliott LLP

Vancouver, Canada

February 25, 2025

We have served as the Company’s auditor since 2020.

F-3

Table of Contents

AUSTIN GOLD CORP.

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

Expressed in United States dollars

                                                                           December 31,                         December 31,                    
                                                                 Note      2024                                 2023                            
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  ASSETS                                                                                                                                        
  Current assets                                                                                                                                
  Cash and cash equivalents                                         6      $                       381,899      $                      907,551  
  Short-term investments                                            7                            4,914,382                           8,618,386  
  Receivables and other                                             8                              116,966                             190,564  
                                                                                                 5,413,247                           9,716,501  
  Non-current assets                                                                                                                            
  Marketable securities                                             9                               12,404                               7,422  
  Exploration and evaluation (“ E& E”) assets                      10                            4,077,474                           2,280,490  
  Property and equipment                                           11                                9,745                                 827  
  Total assets                                                             $                     9,512,870      $                   12,