Vancouver, British Columbia--(Newsfile Corp. - November 5, 2026) - Au Gold Corp (TSXV: AUGC) (the "Company" or "AUGC") is pleased to provide a target development update for the Havelock Gold-Antimony project in Victoria, Australia.

Highlights:

• Harvey's Reef (north) - Select grab samples returned 22 and 3.5 grams per tonne ("g/t") gold from historic mining waste piles.
• Harvey's Reef (central and south) - Surface grab samples from shallow workings along trend 600 m south returned 25, 16, and 16 g/t gold.
• Ant Reef - Select grab sample returned 40 g/t gold from an oblique trending vein to Harvey's Reef south.
• Historical RC hole - 1985 RC drill hole returned 1.5 m grading 9.24 g/t gold from 34.5 m deep on a parallel vein west of the main occurrence (8^th April, 2026 news release). The RC vein projection aligns with the quartz-stibnite sample collected during AUGC's independent technical report QP site visit, which graded 12.20 g/t gold and 1,800 ppm antimony.
• AUGC has engaged Prestige Drilling Services to carry out diamond drilling at Havelock.

Marc Blythe, founder & CEO of Au Gold, commented, "The Harvey's Reef Complex target delivered high-grade gold-bearing surface samples from shallow intermittent workings along 600 m of the main reef trend in addition to a historic shallow 9.24 g/t gold over 1.5 m RC drill intercept on a parallel reef to the west. The Harvey's Reef Complex adds to AUGC's growing list of targets and we are eager to advance this target area with the first diamond drill testing."

Harvey's Reef is located 800 metres ("m") west of the Shaw-McFarlane Trend (SMT) and was explored by prior operators in the 1980's and 1990's targeting low-grade open pit style mineralization. Prior exploration includes RC and RAB drilling. Previous descriptions and sampling results at Harvey's Reef were released April 8, 2026.

Harvey's Reef Complex

The Harvey's Reef Complex is situated 800 m west of the SMT (Figure 1) and is a parallel reef system centered on a northerly trending lamprophyre dyke historically mapped by Howitt in 1913. The northern portion of the main reef occurrence was worked to a maximum depth of 18 m with reported small-scale production of 16 ounces ("oz") gold from 11 short tons ("tons") of vein material.^[1] The quartz vein averaged 30 centimeters ("cm") thick and is described occurring on both the dyke hanging-wall and footwall contacts. Gold grades of 1 oz per ton were reported from the hanging wall while greater than 1 oz per ton was reported from the footwall.

The northerly trending Harvey's Reef Complex (Figure 2) passes through the upper portions of Waverley Gully and Pinch Gut Lead roughly defining the upper extent of two historical gold-bearing alluvial channels. Pinch Gut Lead is the broader of the two channels and was documented to have hosted as many as 4,000 miners in 1861 working the channel gravels for alluvial gold. A 100-ounce nugget was documented in 1862 near the transition from the Pinch Gut Lead eastward into the broader lower flats. The central and southern portions of the Harvey's Reef Complex are interpreted as the source of the alluvial gold in the upper regions of the Pinch Gut Lead.

Figure 1 - Harvey's Reef Complex Location Map

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12836/322610_9d0645a034b2ab3c_002full.jpg

Figure 2 - Harvey's Reef Complex Detail Map

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12836/322610_9d0645a034b2ab3c_003full.jpg

In June 2026, AUGC prospected the Harvey's Reef Complex target area along a 1,000 m strike length and identified a variety of localized reef mineralization associated with shallow pit lines (often less than 1.5 m depth). Mineralization varies from finely-to coarsely-laminated quartz reef material with occasional to moderate secondary fracturing hosting iron oxides, iron carbonate and manganese with several samples moderately to strongly brecciated. Sixteen select samples from the expanded target area returned grades exceeding 1 g/t gold. Results are contained in Table 1.

Table 1: Harvey's Reef Complex Sample Results

Samples taken from three sites along a 600 m portion of the interpreted trace of the lamprophyre dyke and main reef system yielded consistently high gold grades of 25.10, 22.00 g/t, 16.30 and 16.10 g/t, all from shallow isolated workings. Vein material ranged from 5 to 12 cm thickness.

Two oblique trends in the southern part of the reef complex (Lund's and Ant reefs) are interpreted as potential Riedel style structural splays between Harvey's Reef and the SMT. A 40.10 g/t gold sample comprising 12 to 16 cm wide localized vein float from the Ant Reef consisted dominantly of iron oxide quartz breccia.

The northern portion of the reef complex hosts three shallow (48-51 m) historical RC drill holes and five shallow (59-71 m) RAB drill holes which tested a parallel reef 170 m west of the main occurrence hosting the historical small-scale gold production. The drilling encountered 9.24 g/t gold across 1.5 m (RC), 3.49 g/t gold across 1.0 m (RAB) and 1.33 g/t gold across 1.0 m (RAB). The interpretation of the historical drill data suggests the surface projection of the 9.24 g/t gold RC intercept aligns with the surface vein sample (12.20 g/t gold and 0.18% antimony previously reported).

Figure 3 - Harvey's Reef Complex Drill Targets

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12836/322610_9d0645a034b2ab3c_004full.jpg

Prestige Drilling Services

AUGC has engaged Prestige Drilling Services ("Prestige") to carry out diamond drilling at Havelock.

Prestige is based in Bendigo, Victoria and has extensive drilling experience in similar geological settings. Their track mounted rigs are ideally suited to the style of drilling required at Havelock.

Next Steps

AUGC continues to prepare for diamond drilling at Havelock. AUGC's drill plan will test the highest priority targets along a 700 m portion of the Harvey's Reef Complex as illustrated on Figure 3.

The drill targets identified in this release are planned to be drilled from sites primarily located on Crown Land.

Qualified Person

Technical information in this press release was prepared under the supervision of Mr. William Wengzynowski, P.Eng., a Qualified Person as defined by NI 43-101. Mr. Wengzynowski is AUGC's Exploration Manager.

Sample Analysis

Analytical samples were transported by Company personnel to On Site Laboratory Services ("On Site") located in Bendigo, Victoria, Australia. On Site operates under both ISO 9001 and NATA quality systems. Samples were prepared and analyzed for gold using the fire assay technique (PE01S method; 25-gram charge), followed by measuring the gold in solution with flame AAS equipment. On Site inserts blanks and standards into the analytical process, AUGC did not insert additional QA/QC samples.

About Au Gold

Au Gold Corp (TSXV: AUGC) is a gold exploration company focused on advancing its flagship Havelock gold-antimony project in the Victorian Goldfields in Australia and the Ponderosa gold project in the Spences Bridge Gold Belt in British Columbia, Canada. More information at www.AuGoldCorp.com.

Cautionary Note

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, future exploration activities including drilling on the Project.

These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. Such risks and uncertainties include, among other things, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the TSX Venture Exchange), changes in laws, regulations and policies affecting mining operations, currency fluctuations, market uncertainty, as well as those factors discussed in the Company's most recently filed management's discussion and analysis and other filings of the Company with Canadian securities authorities, copies of which can be found under the Company's profile on the SEDAR+ website at www.sedarplus.ca.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will be able to obtain sufficient financing to carry out its planned exploration activities.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbour.

^[1] A.W. Howitt GSV Memoir No. 11 1913

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/322610

Source: Au Gold Corp.