AUGUSTA GOLD ANNOUNCES LOAN INCREASE AND EXTENSION; APPOINTMENT OF TY MINNICK AS INTERIM CFO

VANCOUVER, BC, March 28, 2024 /CNW/ - Augusta Gold Corp. (TSX: G) (OTCQB: AUGG) (FSE:11B) ("Augusta Gold" or the "Company") announces that it has increased the amount of its loan (the "Loan") with Augusta Investments Inc. (the "Lender"), the Company's largest shareholder, by $525,000 (the "Increase"). In connection with the Increase, the Company paid an origination fee to the Lender in the amount of $25,000. The Company has also extended the maturity date of the Loan to June 30, 2024 (the "Extension"). In connection with the Extension, the Company paid an extension fee to the Lender of $27,790.70.

The Company is also pleased to announce the appointment of Ty Minnick as Interim Chief Financial Officer of the Company, effective as of April 1, 2024. Mr. Minnick has been working with Augusta Gold Corp. as a consultant, (formerly, Bullfrog Gold Corp.), and was its Chief Financial Officer from 2011 until October 2020. Mr. Minnick has served as the Chief Financial Officer of Athena Gold Corp since May 2021 and has 13 years of experience in the mining industry.  Since December 2018, Mr. Minnick has acted as a Certified Public Accountant (1993) with Grand Mesa CPAs, LLC.

The Company would like to thank Michael McClelland for his years of service as CFO and wishes him the best in his future endeavours.

Augusta Gold is an exploration and development company focused on building a long-term business that delivers stakeholder value through developing the Reward and Bullfrog gold projects and pursing accretive M&A opportunities. The Reward and Bullfrog gold projects are located in the prolific Bullfrog mining district approximately 120 miles north-west of Las Vegas, Nevada and just outside of Beatty, Nevada. The Company is led by a management team and board of directors with a proven track record of success in financing and developing mining assets and delivering shareholder value. For more information, please visit www.augustagold.com.

SOURCE Augusta Gold Corp.