Casposo

• The Casposo Mine was placed under care and maintenance during the June 2019 quarter. • Following various technical studies and exploration campaigns conducted since 2019, Austral Gold decided to restart operations. • A technical report presented last October quantified approximately 120,000 gold equivalent ounces (GEO) under a mine plan that will enable six years of production using the existing Casposo facilities. • The base case includes the development of new open pits by contractors, as well as the reprocessing of existing stockpiles and dry tailings. • For fiscal year 2026, Austral Gold plans to produce between 11,000 GEO and 13,000 GEO, equivalent to six months of operation using its own ore (during the remaining six months, it expects to process ore from the Hualilán project under a toll milling agreement signed with Challenger Gold in December 2024). • +2027 – Long-term opportunities (seeking additional toll milling agreements / evaluating exploration targets near the mine for potential resource growth, including the Manantiales area adjacent to Casposo).

• Processing Plant: ~1,500 tpd mill followed by agitation cyanide leach and Merrill Crowe circuit
• Casposo's processing plant will treat ore delivered from Hualilán project.

• Historical production (2011-2019): 540,000 ounces of gold equiv.

• Measured and Indicated Resources: 112,439 oz gold equiv (694,466 MT with a grade of 5.04 g/t gold equiv)
• Inferred Resources: 124,459 oz gold equiv (662,291 MT with a grade of 5.85 g/t gold equiv)

• Low sulphidation epithermal system