Augusta Gold raises C$15mn to advance exploration activities in Nevada

VANCOUVER: Augusta Gold Inc. announced a fully subscribed non-brokered private placement raising approximately C$15 million, which will be used to advance exploration efforts at its highly prospective wholly-owned Bullfrog Gold project located in Nevada, USA, and for general and working capital purposes.

Pursuant to the Private Placement, Augusta will offer 6.7 million units at a price of C$2.25per Unit with each Unit comprised of one common share of the Company and one half (1/2) of one common share purchase warrant.

Each full warrant entitles the holder to acquire one Common Share for a period of three years at an exercise price of C$2.80.

The Private Placement is fully subscribed by the Company’s insiders including Richard Warke and other strategic investors.

Augusta Gold is a rapidly growing exploration and development company focused on building a long-term business that delivers stakeholder value through developing the Bullfrog Gold Project and pursing accretive M&A opportunities.

The Bullfrog Gold Project is located in the prolific Bullfrog district approximately 120 miles north-west of Las Vegas, Nevada and 4 miles west of Beatty, Nevada. The Company controls approximately 7,800acres of mineral rights including the Bullfrog and Montgomery-Shoshone deposits and has further identified significant additional mineralization around the existing pits and defined several exploration targets that could further enhance the Project.

The Company is led by a management team and board of directors with a proven track record of success in financing and developing mining assets and delivering shareholder value.

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