Au Gold Corp. announced it has begun diamond drilling at its road accessible Ponderosa epithermal gold project that is located 16 km southwest of Merritt BC. The fully funded program will comprise a minimum 1,500 m of HQ diameter core drilling in 10 to 14 holes targeting the Tomahawk and Flat Iron Zones in the central part of the property. Highlights: Fully funded diamond drill program of 1,500 m in 10-14 holes has commenced. Targeting 15 m wide auriferous bedrock vein exposure at Tomahawk that has never been drill-tested. Targeting 25 m wide historical auriferous zone at Flat Iron that has never been drill-tested. The Tomahawk Zone is currently exposed for 55 m along a north-northeast strike and 15 m across the widest continuous exposure. Dips are moderate to steep toward the west between 45 and 70
degrees. Mineralization and alteration comprise high level angular volcanic breccias with multiple
phases of silica cement and stockwork style veining; tan to orange-brown clay altered volcanic often
finely fractured with multiple generations of clear to white sheeted quartz; and massive to weakly
crustiform banded opaque and white quartz veining. Select saw channel samples from hand trenches
defining the zone returned 3.99 g/t Au and 14.9 g/t Ag across 1 m of quartz veining and 0.63 g/t Au
across 1.25 m of adjacent altered volcanic. The vein zone remains open along strike and the hanging-
wall contact has not been delineated. he Flat Iron Zone is interpreted as an offset continuation of the Tomahawk Zone and lies 100 m to the
south-southeast across a property scale easterly trending structure. Historical trenching in this target
area encountered a broad zone of altered and silicified volcanic strata with localized quartz vein material
from which a 25 m interval reportedly returned a weighted average grade of 0.80 g/t Au. The historical
report documents seven chip samples (0.5 to 1.0 m) within the interval exceeding 1 g/t Au to a
maximum of 7.54 g/t Au across 1.0 m. In addition, a narrow parallel zone of similar mineralization and
alteration was identified by historical trenching approximately 60 m to the east. Samples of quartz-rich
mineralization from this zone reportedly returned 1.24 g/t Au across 4.0 m.
Further assessment of the Flat Iron target by AUGC in 2021 mapped out two roughly 30 m wide parallel
north-northeast trending zones of rusty clay altered and weakly silicified volcanic with numerous
concentrations of localized quartz vein material ranging in width from several cm's to 25 cm. This
surface vein mineralization was traced 70 m along strike to the south-southwest from the reported
historical trench locations. A series of composite surface samples consisting only of quartz vein material
from the two parallel zones returned values ranging from 0.10 g/t Au to 1.02 g/t Au. None of the
altered volcanic was sampled. A single historical drill hole was collared east of the trenches with an azimuth to the west to test what
was interpreted as an easterly dipping target, however, nothing of significance was encountered. AUGC
believes the Flat Iron target has similar geometry to the Tomahawk Zone with a moderate dip to the
west, so it is likely that this historical drill hole tested parallel to the target. Accordingly, drill-testing of
both the Tomahawk and Flat Iron targets will be designed to test the west dipping target.
Qualified Person: All scientific and technical information in this press release has been prepared by William
Wengzynowski, P. Eng., a qualified person as defined by NI 43-101. Mr. Wengzynowski is the Exploration
Manager for Au Gold Corp.