Early Warning Report Filed Pursuant to National Instrument 62-103

Rhea-AI Summary

Austin Gold Corp. (NYSE: AUST) announced that Darcy A. Higgs, Vice-President of Business Development, has increased his ownership stake in the company through private transactions on March 27, 2025. The insider acquired 360,000 common shares at $1.80 per share, totaling $648,000 in cash consideration.

Prior to the transaction, Higgs held 1,756,667 shares and 410,000 stock options, representing 13.24% ownership (15.84% on a partially diluted basis). Following the purchase, his holdings increased to 2,116,667 shares and 410,000 options, representing 15.95% ownership (18.47% on a partially diluted basis).

The securities were acquired for investment purposes, with the possibility of future transactions depending on market conditions and opportunities.

Positive

• Insider confidence demonstrated through significant $648,000 investment
• VP increases ownership stake by 360,000 shares

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - March 27, 2025) - Austin Gold Corp. (NYSE American: AUST) ("Austin Gold" or the "Company") Darcy A. Higgs, Vice-President, Business Development of the Company of Vancouver, British Columbia (the "Acquiror") is disseminating this press release as required by National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an Early Warning Report regarding the acquisition of securities of the Company.

On March 27, 2025, the Acquiror acquired beneficial ownership or control over 360,000 common shares in the capital of the Company ("Shares") through private purchase and sale transactions (the "Transactions"). The Acquiror paid cash consideration of $1.80 per Share for total consideration of $648,000.

Immediately before the completion of the Transactions, the Acquiror beneficially owned or controlled 1,756,667 Shares and 410,000 stock options ("Options"), representing 13.24% of the Company's issued and outstanding Shares on a non-diluted basis (or 15.84% on a partially diluted basis assuming the exercise of the Acquiror's 410,000 Options). Immediately after the completion of the Transactions, the Acquiror beneficially owned or controlled a total of 2,116,667 Shares and 410,000 Options, representing 15.95% of the Issuer's issued and outstanding Shares on a non-diluted basis (or 18.47% on a partially diluted basis assuming the exercise of the acquiror's 410,000 Options).

The securities described in this press release were acquired for investment purposes. The Acquiror may, depending on market and other conditions, increase or decrease his beneficial ownership of or control or direction over the Company's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.

A copy of the early warning report may be obtained by contacting Darcy A. Higgs, the Company's Vice President, Business Development, at 604-644-6580 or from SEDAR+ at www.sedarplus.ca under the Company's profile. The Company's head office is located at 9th Floor, 1021 West Hastings Street Vancouver, British Columbia V6E 0C3.

About Austin Gold Corp.

Austin Gold is a gold exploration company focused on gold targets and making district-scale gold discoveries in the southwestern United States.

Austin Gold has two projects in Nevada. The Kelly Creek Project is located on the Battle Mountain-Eureka (Cortez) gold trend in Humboldt County and the Lone Mountain Project is on the Independence-Jerritt Canyon gold trend in Elko County. Collectively, these Nevada properties comprise approximately 90.4 km² of unpatented lode mining claims and private property. In Oregon, the Stockade Mountain Project consists of approximately 27.2 km² of unpatented mining claims situated in a geological environment that appears the same as the nearby Grassy Mountain Deposit that is being permitted for underground mining.

For further information, please contact:
Darcy A. Higgs, Vice President, Business Development
604-644-6580
info@austin.gold
Website: www.austin.gold

Safe Harbor / Forward-Looking Statements

This press release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbors created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance, or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance, or achievements expressed or implied by such forward-looking information.

The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.

Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246428

FAQ

How many shares did Austin Gold (AUST) VP Darcy Higgs acquire in March 2025?

Darcy Higgs acquired 360,000 common shares of Austin Gold (AUST) at $1.80 per share, for a total investment of $648,000.

What is Darcy Higgs' total ownership percentage in Austin Gold (AUST) after the March 2025 purchase?

After the purchase, Higgs owns 15.95% of AUST's shares on a non-diluted basis, or 18.47% on a partially diluted basis including his stock options.

How much did Darcy Higgs pay per share for AUST stock in the March 2025 transaction?

Higgs paid $1.80 per share in the private purchase transaction.

What was the total value of Darcy Higgs' March 2025 AUST stock purchase?

The total value of the stock purchase was $648,000.