Company: AUST
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001410578-25-000509
Chunk: 45

Company: Austin Gold Corp.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 4
Chunk 45
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791  
  2023      2,078      1,809        1,941  
  2024      2,784      1,985        2,387  

Cycles

Given the general weather conditions and exploration season in north central Nevada and south-eastern Oregon, the Company’s E& E expenditures on its mineral properties tend to be greater from April to December than in the rest of the year.

Mineral Projects

The Company is a gold exploration company focused on gold targets and making district-scale gold discoveries in the USA. The Company initially acquired an option to joint venture the Kelly Creek Project located on the Battle Mountain-Eureka (Cortez) gold trend in Humboldt County, Nevada.

The Company obtained options to acquire four additional mineral exploration projects, two of which were subsequently drilled and the option agreements terminated (i. e. Fourmile Basin and Miller projects). The two projects retained and currently being explored by the Company are located on the Independence-Jerritt Canyon gold trend in Elko County, Nevada (the Lone Mountain Project) and in Malheur County, Oregon (the Stockade Mountain Project).

The Company hired Robert Hatch (SME-Registered Member) of Volcanic Gold & Silver LLC, 80 Bitterbrush Road, Reno, Nevada, as the Company’s VP Exploration and he acts as the Company’s “qualified person” (“QP”) under National Instrument 43-101 - Standards of Disclosure for Mineral Projects(“NI 43-101”) and sub-part 1300 of Regulation S-K (“S-K 1300”) under the U. S. Securities Exchange Act of 1934, as amended, to oversee the operations and disclosure for all of the Company’s mineral projects. Robert Hatch is a shareholder of the Company and is compensated and has been granted equity awards for his role as VP Exploration. Refer to the “QP” and “Item 6 - Directors, Senior Management and Employees” sections of this Annual Report for additional information related to his remuneration and equity holdings.

Below are brief descriptions of the properties. For additional information about the financial terms of the agreements and E& E expenditures incurred on the properties, refer to note 10 of our audited consolidated financial statements as at December 31, 2024 and 2023 and for the years ended December 31, 2024, 2023 and 2022 (the “Consolidated Financial Statements”).

Kelly Creek Project, Nevada, USA

On July 7