Company: AUST
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001410578-25-000509
Chunk: 55

Company: Austin Gold Corp.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 6
Chunk 55
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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, 2020, the Company entered into the JV Agreement on the Kelly Creek Project, through the Company’s wholly owned subsidiary, Austin NV with Pediment, a subsidiary of URZ(formerly NGE), whereby Austin NV may earn up to a 70% interest in the Kelly Creek Project. The project is located in Humboldt County, Nevada, and is situated on public lands administered by the BLM and on private lands. The Kelly Creek Project comprises 99 unpatented lode mining claims covering approximately 2.77 mi2(7.16 km2) and approximately 5.49 mi2(14.2 km2) of private land leased by Pediment. Barbara Carroll, C. P. G., as an independent consultant and QP, completed the Kelly Creek Technical Report which is available on the Canadian System for Electronic Data Analysis and Retrieval + (“ SEDAR+”) at www. sedarplus. ca. The Kelly Creek Technical Report is referenced for informational purposes only and is not incorporated herein by reference.

Table of Contents

The Kelly Creek Basin is situated along the Battle Mountain - Eureka Gold Trend and is bounded by multi-million-ounce gold deposits to the north (Twin Creeks, Getchell, Turquoise Ridge, and Pinson) and south (Lone Tree, Marigold, Trenton Canyon, Converse, Buffalo Valley, Copper Basin, and Phoenix), together representing more than 70 million ounces of gold along the periphery of the Basin. Despite its proximity to significant mineralization, the interior of the Kelly Creek Basin has seen limited systematic exploration activity to date because its bedrock is largely covered by post-mineral volcanic units and post-mineral alluvium.

A significant portion of the Kelly Creek Project lies within and under the Humboldt River and its floodplain, much of which is part of the National Wetlands Inventory managed by the US