Austral Gold Limited: Austral Gold Announces Results of Annual General Meeting

Sydney, Australia--(Newsfile Corp. - May 30, 2023) - Austral Gold Limited (ASX: AGD) (TSXV: AGLD) ("Austral" or "the Company") advises that shareholders of the Company passed all resolutions in the Notice of Meeting dated 28 April 2023 at the General Meeting held today at 8:30am (AEST) by way of poll.

A summary of proxy votes and the number of votes cast on each poll is attached, in accordance with ASX Listing Rule 3.13.2 and Section 251AA(2) of the Corporations Act 2001.

Release approved by the Company Secretary of Austral Gold, Chelsea Sheridan.

For additional information please contact:

Jose Bordogna
Chief Financial Officer
Austral Gold Limited
[e-mail]
[phone]

Gareth Quinn
Media and Investor Relations
Republic PR
[e-mail]
[phone]

About Austral Gold

Austral Gold is a growing gold and silver mining producer building a portfolio of quality assets in the Americas. Austral continues to lay the foundation for its growth strategy by advancing its attractive portfolio of producing and exploration assets.

OPERATIONS

• Guanaco and Amancaya mines, Antofagasta Province, Chile (100% interest) Open pit and underground. 2023 Forecast: 34,000-38,000 gold equivalent ounces.

• Casposo/Manantiales Mine Complex, San Juan Province, Argentina (100% interest) Gold and silver mine currently in care and maintenance. Strategy is to restart profitable mining operations.

EXPLORATION

CHILE

• Paleocene Belt, Chile
• Guanaco District
• Amancaya District
• Las Pampa District

ARGENTINA

• Triassic Choiyoi Belt
• Indio Belt
• Deseado Massif

EQUITY INVESTMENTS

• Unico Silver Limited, an ASX listed company
• Pampa Metals Corp, a CSE listed company
• Ensign Minerals Inc., private vehicle, Utah, USA
• Rawhide Mine, private vehicle, Fallon, Nevada, USA

Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections - statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include the Company's 2023 forecasted production and its strategy to restart profitable mining operations at it's Casposo/Manantiales Mine Complex.

All of these forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation, business integration risks; uncertainty of production, uncertainty of exploration programs, development plans and cost estimates, commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations, the state of the capital markets especially in light of the effects of the novel coronavirus" uncertainty in the measurement of mineral reserves and resource estimates, Austral's ability 2ttarct and retain qualified personnel and management, potential labour unrest, reclamation and closure requirements for mineral properties; unpredictable risks and hazards related to the development and operation of a mine or mineral property that are beyond the Company's control, the availability of capital to fund all of the Company's projects and other risks and uncertainties identified under the heading "Risk Factors" in the Company's continuous disclosure documents filed on the ASX and on SEDAR. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Austral cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. Austral's forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and Austral does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.

The following information is provided in accordance with section 251AA(2) of the Corporations Act 2001 (Cth) and ASX Listing Rule 3.13.2.

Resolution details		Instructions given to validly appointed proxies (as at proxy close)				Number of votes cast on the poll (where applicable)			Resolution Result
Resolution	Resolution Type	For	Against	Proxy's Discretion	Abstain	For	Against	Abstain*	Carried / Not Carried
1 Adoption of Remuneration Report	Ordinary	13,138,260 81.88%	2,579,149 16.07%	329,207 2.05%	431,984,708	13,467,467 83.93%	2,579,149 16.07%	431,984,708	Carried
2 Re-Election of Director - Mr Wayne Hubert	Ordinary								Withdrawn
3 Re-Election of Director - Mr Eduardo Elsztain	Ordinary	446,800,310 99.87%	457,608 0.10%	151,207 0.03%	622,199	447,301,517 99.90%	457,608 0.10%	622,199	Carried
4 Re-Election of Director - Mr Saul Zang	Ordinary	446,799,623 99.87%	457,985 0.10%	149,207 0.03%	624,508	447,298,830 99.90%	457,985 0.10%	624,508	Carried
5 Re-Election of Director - Mr Pablo V. Del Carril	Ordinary	446,676,375 99.84%	581,233 0.13%	149,207 0.03%	624,508	447,175,582 99.87%	581,233 0.13%	624,508	Carried
6 Re-Election of Director - Mr Robert Trzebski	Ordinary	446,676,375 99.84%	581,233 0.13%	149,207 0.03%	624,508	447,175,582 99.87%	581,233 0.13%	624,508	Carried
7 Re-Election of Director - Mr Ben Jarvis	Ordinary	446,709,547 99.85%	559,061 0.12%	149,207 0.03%	613,508	447,208,754 99.88%	559,061 0.12%	613,508	Carried
8 Approval of 10% Capacity to Issue Equity Securities	Ordinary	444,697,874 99.35%	2,757,934 0.62%	149,207 0.03%	426,310	445,197,081 99.38%	2,757,934 0.62%	426,310	Carried
9 Issue of Unlisted Options under Austral Gold Limited Stock Incentive Plan to Mr Wayne Hubert	Ordinary								Withdrawn
10 Issue of Unlisted Options under Austral Gold Limited Stock Incentive Plan to Mr Eduardo Elsztain	Ordinary	13,056,431 81.50%	2,860,379 17.85%	104,207 0.65%	432,010,308	13,160,638 82.15%	2,860,379 17.85%	432,010,308	Carried
11 Issue of Unlisted Options under Austral Gold Limited Stock Incentive Plan to Mr Saul Zang	Ordinary	13,056,431 79.69%	2,860,379 17.46%	466,511 2.85%	431,648,004	13,522,942 82.54%	2,860,379 17.46%	431,648,004	Carried
12 Issue of Unlisted Options under		13,056,431	2,860,379	466,511	431,648,004	13,522,942	2,860,379	431,648,004	Carried

Austral Gold Limited Stock Incentive Plan to Mr Stabro Kasaneva	Ordinary	79.69%	17.46%	2.85%		82.54%	17.46%
13 Issue of Unlisted Options under Austral Gold Limited Stock Incentive Plan to Mr Pablo Vergara Del Carril	Ordinary	12,934,066 78.95%	2,982,744 18.21%	466,511 2.85%	431,648,004	13,400,577 81.79%	2,982,744 18.21%	431,648,004	Carried
14 Issue of Unlisted Options under Austral Gold Limited Stock Incentive Plan to Mr Robert Trzebski	Ordinary	12,934,066 78.95%	2,982,744 18.21%	466,511 2.85%	431,648,004	13,400,577 81.79%	2,982,744 18.21%	431,648,004	Carried
15 Issue of Unlisted Options under Austral Gold Limited Stock Incentive Plan to Mr Ben Jarvis	Ordinary	12,934,066 78.95%	2,983,873 18.21%	465,382 2.84%	431,648,004	13,399,448 81.79%	2,983,873 18.21%	431,648,004	Carried

* Votes cast by a person who abstains on an item are not counted in calculating the required majority on a poll.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/168015