(TheNewswire)
Vancouver, British Columbia– TheNewswire - May 28,2024 – Au Gold Corp (TSXV:AUGC) (“ AUGC ” or the“ Company ”) announces that it has agreed to anextension of the option agreement covering part of its Ponderosaproject, located near Merritt, BC.
The extension allows the Company a further three yearsto complete $1M in exploration work on three claims which surround itswholly owned central claim. AUGC has agreed to issue 150,000 sharesto the claim optionor in exchange for this extension.
Management remains highly encouraged by the discoverypotential along the newly interpreted Ponderosa Structural Corridor(PSC) and has designed a low cost reverse circulation (RC) drillprogram to test the highest priority targets along the 1,800 m trend. Historical diamond drilling was restricted to a 140 m portion of thePSC with five scissor-style holes while the most recent drill campaigntargeted epithermal vein mineralization associated with parallelsecondary structures. Company personnel recently began detailedmapping and reconnaissance work along the southern portion of the PSCto expand the target trend and fine tune the proposed explorationplan.
For further information, please contact:
Au Gold Corp
Marc G. Blythe, MBA, P.Eng., President & Chief Executive Officer
Sandrine Lam, Investor Relations Phone: 1-604-687-3520 Ext. 250
Email: info@augoldcorp.com
To learn more visit: https://augoldcorp.com
Cautionary Note
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICALINFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTUREPLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKINGSTATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUSASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIESINHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUALRESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THEFORWARD-LOOKING STATEMENTS.
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