Au Gold Corp. announced it has entered into a purchase and sale agreement with Almadex Minerals Ltd. (Almadex) whereby the Company will acquire Almadex's 40% ownership of the Ponderosa Gold Project, located in the Nicola Mining Division, British Columbia (the Acquisition). Completion of the Acquisition will bring the Company to 100% ownership of the Ponderosa Gold Project.

The Company previously acquired 60% ownership of the Ponderosa Gold Project pursuant to an option agreement dated September 6, 2019 with Almadex (the Option Agreement).