Company: AUST
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001410578-25-000509
Chunk: 89

Company: Austin Gold Corp.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 7
Chunk 89
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 a total of 10 registered shareholders.

The Company is not aware of any arrangement which may at some subsequent date result in a change of control of the Company.

B. Related Party Transactions

No related party transactions exist, other than disclosed in note 14 of the Consolidated Financial Statements.

Key management includes the Company’s directors and officers including its President, VP Exploration, VP Business Development and CFO.

Directors and key management compensation:

                                               For the year ended                                      
                                                     December 31,      December 31,      December 31,  
                                                             2024              2023              2022  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────
  Share-based compensation                               $993,611          $472,236          $136,148  
  Management salaries and consulting fees                $694,074          $544,352          $559,591  
  Directors’ fees                                         $73,647           $72,863           $44,380  
                                                       $1,761,332        $1,089,451          $740,119  

Table of Contents

For the year ended December 31, 2024, the Company’s officers incurred $338,837 (2023 - $57,102; 2022 - $50,359) of expenditures in the normal course of business on behalf of the Company.

For the year ended December 31, 2024, the Company incurred $67,072 (2023 - $69,806; 2022 - $21,149) of expenditures with P2 Gold Inc., a related party of the Company, under a CFO shared-services agreement. These expenditures were expensed under management salaries and consulting fees in the consolidated statement of loss and comprehensive loss.

As at December 31, 2024, accounts payable and accrued liabilities include $32,979 (2023 - $29,855) owed to related parties of the Company for transactions incurred in the normal course of business.

The Company entered into a joint venture agreement with Pediment, a subsidiary of URZ (formerly NGE), for the Kelly Creek Project and owns 89,240 common shares of URZ(formerly NGE). During the year ended December 31, 2024, the Company purchased $11,000 of exploration equipment from URZ(formerly NGE). As at December 31, 2024, the VP Business Development and a director of the Company serve as directors of URZ(formerly NGE).