Company: AUST
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001410578-25-000509
Chunk: 166

Company: Austin Gold Corp.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 19
Chunk 166
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 in various amounts from 2040 to 2044. The Company has tax losses in the USA of approximately$ 2,390,768(2023 - $ 78,452; 2022 - $ 50,427). The other temporary differences do not expire under current legislation.

A deferred tax asset has not been recognized in respect of the temporary differences, as it is not probable that sufficient future taxable earnings will be available in the periods when deductions from such potential assets will be realized.

F-27

Table of Contents

  AUSTIN GOLD CORP.                                          
  NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS             
  For the years ended December 31, 2024, 2023 and 2022       
  Expressed in United States dollars, except for share data  

17. TAXATION (Continued)

(b) Income tax expense

The provision for income taxes differs from the amount calculated using the Canadian federal and provincial statutory income tax rates of27.0(2023 - 27.0; 2022 - 27.0) as follows:

                                                                                                                         For the year ended                  
                                                   December 31,                      December 31,                        December 31,                        
                                                   2024                              2023                                2022                                
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Expected income tax recovery                     $                 ( 831,217)      $                 ( 1,080,139)      $                       ( 288,466)  
  Share issuance costs                                                        —                                   —                              ( 298,176)  
  Impact of difference in tax rates and other                             5,098                             240,010                               ( 10,670)  
  Share-based compensation                                              246,040                             129,976                                  43,910  
  Deferred income taxes not recognized                                  580,229                             710,308                                 553,402  
                                                   $                        150      $                          155      $                                —  

For the Company’s subsidiary, the USA statutory income tax rate is21.0(2023 - 21.0; 2022 - 21.0) and the Nevada state statutory income tax rate is nil(2023 - nil; 2022 - nil).

18. COMMITMENTS

The Company executed an introductory agent agreement with BMR (the “ BMR Agreement”). Under the BMR Agreement, should a mineral property recommended by BMR be