Austral Gold Limited (Austral or the Company) announced a new unsecured related party loan facility from Consultores Assets Management S.A. (?Consultores?) for up to USD 2.2 million and the receipt of USD 1 million on 5 March 2024. Consultores is related to Austral's largest shareholder and controlled by its Chair, Eduardo Elsztain. Material terms of the loan agreement: Loan Amount: up to USD 2.2 million; Loan Term: 6 months; loan may be repaid earlier at the Company's option; Interest Rate: 9% per annum; Use of Proceeds: working capital; Security: the loan is unsecured.

The terms and conditions of the loan agreements are standard for facilities of this nature, are unsecured and are, in the view of the non-involved Austral directors, as favorable, if not more so, than if the parties were dealing at arm's length. The cash received under the loan facility has been used for working capital purposes.