Company: AUST
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001410578-25-000509
Chunk: 157

Company: Austin Gold Corp.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 19
Chunk 157
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 Company’s other reserves consisted of the following:
December 31, December 31, December 31,
2024 2023 2022
────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
Other reserve - Share options $ 3,326,971 $ 2,296,229 $ 1,781,096
Other reserve - Warrants 63,228 59,702 263,596
$ 3,390,199 $ 2,355,931 $ 2,044,692
(c) Share options
The Company has adopted a stock incentive plan which provides that the Board of Directors of the Company may from time to time, in their discretion, grant to its directors, officers, employees and consultants of the Company, non-transferable equity awards to purchase common shares, provided that the number of common shares reserved for issue does not exceed3,827,175. Equity awards include share options, stock appreciation rights, restricted stock units, dividend equivalent or other stock-based awards.
The term of each share option is set by the Board of Directors at the time of grant but cannot exceed a maximum term of ten years from the date of grant. The exercise price of each share option is set by the Board of Directors at the time of grant but cannot be less than the then market price of common shares.
The following table summarizes the changes in share options for the year ended December 31:
2024 2023 2022
Weighted Weighted
Number of average Number of average Number of
share options exercise price share options exercise price share options
──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
Outstanding, January 1, 3,463,333 $ 1.06 1,093,333 $ 716,663 2.37
Granted 225,000 1.00 2,370,000 460,003 0.92
Expired ( 66,667) 2.25 - ( 83,333) 2.36
Outstanding, December 31, 3,621,666 $ 1.01 3,463,333 $ 1,093,333 1.67

F-21

Table of Contents

  AUSTIN GOLD CORP.                                          
  NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS             
  For the years ended December 31, 2024, 202