Company: AUST
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001410578-25-000509
Chunk: 1

Company: Austin Gold Corp.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 3
Chunk 1
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 revenues are anticipated until one of our projects comes into production, which may or may not occur. As such, there is no certainty that we will generate revenue from any source, operate profitably or provide a return on investment in the future. We will continue to experience losses unless and until we can successfully develop and begin profitable commercial production at one of our mining properties. There can be no assurance that we will be able to do so.

We will require significant additional capital to fund our business plan.

We plan to focus on exploring for minerals and will use our working capital to carry out such exploration. We have no source of operating cash flow and no assurance that acceptable additional funding will be available to us for the further exploration and development of our projects. We have incurred net losses in the past, may incur losses in the future, and will continue to incur losses until and unless we can derive sufficient revenues and earnings from our mineral projects. These conditions, including other factors described herein, could result in material uncertainty regarding our ability to continue as a going concern.

It is likely that the development and exploration of our properties will require substantial additional financing. Further exploration and development of the Austin Gold Properties and/or other properties acquired by us may be dependent upon our ability to obtain acceptable financing through equity or debt, and there can be no assurance that we will be able to obtain adequate financing in the future or that the terms of such financing will be acceptable. Failure to obtain such additional financing could result in the delay or indefinite postponement of further exploration and development of our projects and we may become unable to carry out our business objectives.

We are subject to currency rate risk related to our reporting currency.

We may be subject to currency rate risk. Our reporting currency is the USD, which is exposed to fluctuations against other currencies. Our properties are located in the USA with corporate operations in Canada. Should we expand our operations into other countries, our expenditures and obligations may be incurred in foreign currencies. As such, our results of operations may become subject to foreign currency fluctuation risks and such fluctuations may adversely affect the financial position and our operating results. At this time, we have not implemented measures to mitigate transactional volatility in the CAD. We may, however, enter into foreign currency forward contracts in order to match or partially offset existing currency exposures.

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We may have liquidity risk due to our reliance on additional financing.

Liquidity risk arises through the excess of financial obligations due over available financial assets at any point in time. Our objective in managing liquidity risk will be to maintain