Augusta Gold Corp. announce the results of its mineral resource estimate at the Reward Project located in Nevada, USA. Closing of the Company's acquisition of the Reward Project is expected imminently.

Reward: measured and indicated mineral resources of 426,700 oz gold grading 0.75 g/t gold and inferred mineral resources of 27,100 oz gold grading 0.68 g/t gold fully permitted, low-risk heap leach project ample water rights and sufficient water supply in place Bullfrog: measured and indicated mineral resource estimate of 1,209,290 oz gold grading 0.53 g/t gold and combined inferred mineral resources of 257,900 oz gold grading 0.48 g/t gold completing required studies for Mine Plan of Operation scheduled for submission H1 2023 Reward and Bullfrog: combined measured and indicated mineral resources of 1,635,990 oz gold grading 0.59 g/t gold and combined inferred mineral resources of 285,000 oz gold grading 0.50 g/t gold Reward and Bullfrog are only 7 miles apart and located in Nevada, a top mining jurisdiction shared infrastructure expected to provide meaningful synergies. Augusta Gold Location Reward and Bullfrog are strategically located just seven miles apart in the prolific Walker Lane district Nevada, an area very active by junior and senior gold companies involved in exploration, development, and asset consolidation. A technical report supporting the Reward mineral resource estimate will be filed within 45 days of the date hereof.

The Bullfrog mineral resource estimate is derived from the technical report titled "NI 43-101 Technical Report Mineral Resource Estimate, Bullfrog Gold Project, Nye County, Nevada" with an effective date of December 31, 2021. tatistical analysis, three-dimensional modelling and resource estimation were completed by Mr. Warren Black, M.Sc., P.Geo. with assistance from Mr. Steven Nicholls, MAIG, of APEX .

The workflow implemented for the Reward Gold Project mineral resource estimate was completed using the commercial mine planning software MICROMINE . The Anaconda Python distribution and contributions made by Mr. Black to the Python package pygeostat was used for supplemental data analysis. Mr. Dufresne is the QP and takes responsibility for the mineral resource estimate.

CR Reward LLC provided APEX with the Reward Project drillhole database that consists of analytical, geological, density, and collar survey information; initial estimation domains for both the Good Hope and Gold Ace zones; and a geological model for the Reward Project that contains a stratigraphic and structural 3D interpretation. The provided data was reviewed in detail from late 2017 to 2018 by APEX personnel. The data was used to prepare the Reward mineral resource estimate.

The QP and APEX personnel conducted a thorough review of the data to ensure the database was in good shape and considered suitable for resource estimation. The initial data and project review conducted in the fall of 2017 was, in part, the reason for additional drilling conducted by CR Reward LLC. In the opinion of the QP, the current Reward drillhole database is deemed to be in good condition and suitable to use in ongoing resource estimation studies.

The mineral resource estimate was calculated using a block model size of 20 ft by 20 ft by 20 ft . APEX personnel estimated the gold grade for each block using Ordinary Kriging with locally varying anisotropy to ensure grade continuity in various directions is reproduced in the block model. The block model was diluted by estimating a waste grade for the outer blocks using composites within a transition zone along the outer edge of the mineralized estimation domain that was then proportionately combined with the estimated grade for the portion of the block within the mineralized domain.

Modelling was conducted in Local Grid coordinate space in feet relative to the North American Datum of 1927 . The database consists of 376 drill holes completed at the Good Hope and Gold Ace prospects ranging from 1987 to 2018 of which 264 were used in the Good Hope and Gold Ace resource modelling. Standard statistical techniques including composting, orphan analysis, declustering, capping, variography and transition zone analysis were utilized to complete the Reward mineral resource estimate.

Mr. Dufresne, M.Sc., P.Geol., P.Geo., visited the property in August, 2017 and subsequent to the CR Reward LLC drilling in August, 2019. From 2015 to early 2017, CR Reward LLC completed a compilation, audit and update of the drill hole database. Drill hole locations, survey data and readily accessible assay certificates were uploaded into the commercially-available DataShed software package.

Assays that did not have assay certificates were retained in an Excel spreadsheet and combined with the DataShed assays for the assay verification. Lithology, alteration, structure, and quartz vein data from selected holes were digitized from geologic paper logs in January 2017. These data were also brought into DataShed.

The drill hole database consisting of 348 historical holes was audited, compiled, and verified by CR Reward LLC in 2016 and 2017 based on provided electronic files, for all historical drilling, and assay certificates. CR Reward LLC completed additional drilling in 2017 and 2018 consisting of 3,443 meters in 28 core holes. The QP responsible for the Reward mineral resource estimate validated the historical gold values at the Reward Project by comparing the historical analytical certificates to the digital assay database.

All available downhole surveys were digitized and utilized to properly plot analytical data down-hole. Drill hole collar data was verified versus geological logs or survey files with collar elevations checked against a modern lidar survey. Drillholes with questionable data were omitted from the database and were not used to generate the mineral resource estimate.

The QP verified all of the 2017 and 2018 drill hole data provided by CR Reward LLC. The results of the validation program indicate that the sample database is of sufficient accuracy and precision to be used for the generation of mineral resource estimates.