AUGUSTA GOLD CORP.

The Bullfrog Technical Report was prepared by Forte Dynamics, Inc., a QP firm, in compliance with S-K 1300.

The description of the Bullfrog Gold Project contained herein is based upon the Bullfrog Technical Report.

On September 30, 2024, the Company released its feasibility study for its Reward Gold Project in Nye County, Nevada. The report titled “Feasibility Technical Report for the Reward Project Nye County, NV, USA” with an effective date of September 3, 2024 and a signing date of September 30, 2024, was prepared for the Company by Mark Gorman of Kappes, Cassiday & Associates; Thomas Dyer of RESPEC; Mike Dufresne of APEX Geoscience Ltd.; Timothy D. Scott of Kappes, Cassiday & Associates; Mathew Haley of NewFields; James Cremeens of Knight Piésold and Co.; and Mark Willow of SRK Consulting (U.S.), Inc., each of whom is a qualified person under S-K 1300 (the “Reward Technical Report”).

The description of the Reward Gold Project contained herein is based upon the Reward Technical Report.

Summary of Mineral Properties

Augusta Gold currently has interests in two gold properties located in the state of Nevada, including the Bullfrog Gold Project and the Reward Gold Project. The Bullfrog Gold Project is an exploration stage property with measured, indicated and inferred resources. The Bullfrog Gold Project has no known mineral reserves. The Reward Gold Project is a development stage property and has known mineral reserves, but the Company is not currently engaged in the preparation of the mineral reserves for extraction and therefore the Company remains an the exploration stage issuer. Our primary operations are exploring these properties to move them towards a development decision.

Ownership Interests

● · At our Bullfrog Project, we have four option/lease/purchase agreements in place and, with the additional claims it has located, give it control of 734 unpatented lode mining claims and mill site claims, and 87 patented mining claims. The claims do not have an expiration date, as long as the fees and obligations are maintained. For additional details see “Bullfrog Gold Project, Nye County Nevada – Property Holdings” below.

● · At our Reward Project, the project encompasses 123 unpatented Bureau of Land Management (BLM) placer and lode mining claims and six patented placer mining claims, totalling approximately 2,333 net acres (944 hectares). Only the patented claims have been legally surveyed. Under United States mining law, claims may be renewed annually for an unlimited number of years upon a small payment per claim (currently $200 per claim due to the BLM and $12 per claim plus a $12 document charge due to Nye County) and the same claim status-whether lode or placer-may be used for exploration or exploitation of the lodes or placers.

Several blocks of unpatented claims are leased by CR Reward from underlying owners, and are referred to as Connolly, Webster, Orser-McFall and Van Meeteren leases.

In total our options and leases cover 15,998 net acres in the aggregate, consisting of a mix of 93 patented mining claims, 857 unpatented mining claims either leased with option to purchase, or joint ventured, and private property leases.

Summary Mineral Resources

Summary Mineral Resources at End of Fiscal Year Ended December 31, 2024 (Exclusive of Mineral Reserves)

Measured mineral resources · Indicated mineral resources · Measured and indicated mineral resources · Inferred mineral resources

Amount (koz) · Grades (g/t) · Amount (koz) · Grades (g/t) · Amount (koz) · Grades (g/t) · Amount (koz) · Grades (g/t)

Gold

Bullfrog Project · 526.7 · 0.54 · 682.6 · 0.52 · 1,209.3 · 0.53 · 257.9 · 0.48

Reward Project · 7.7 · 0.32 · 53.9 · 0.49 · 61.6 · 0.46 · 27.5 · 0.69

Total Gold · 534.4 · 0.53 · 736.5 · 0.52 · 1,270.9 · 0.53 · 285.4 · 0.49

Silver

Bullfrog Project · 1,309.1 · 1.35 · 1557.5 · 1.18 · 2,866.6 · 1.26 · 515.7 · 0.96

Total Silver · 1,309.1 · 1.35 · 1557.5 · 1.18 · 2,866.6 · 1.26 · 515.7 · 0.96

● · The above table does not include Mineral Reserves

● · Bullfrog oxide estimated Mineral Resources are reported within a pit shell using the Lerch Grossman algorithm, a gold price of US$1,550/oz and a recovery of 82% for Au and silver price of US$20/oz and a recovery of 20% For Ag.

● · Bullfrog sulphide estimated Mineral Resources are reported within a pit shell using the Lerch Grossman algorithm, a gold price of US$1,550/oz and a recovery of 50% for Au and silver price of US$20/oz and a recovery of 12% for Ag.

● · Gold price and Silver price used in the Bullfrog estimated Mineral Resources were based on a review of commodity prices and compared to a three-year trailing average at the time of the estimates with a good correlation.

● · Reward oxide estimated Mineral Resources are reported within a pit shell using the Lerch Grossman algorithm, a gold price of US$1,700/oz and a recovery of 80% for Au were utilized.

● · Gold price used in the Reward estimated Mineral Resources were based on a review of commodity prices at the time of the estimate and assumed a price of US$1,700 per oz of gold based upon a 3 year trailing average.

● · Bullfrog oxide Mineral Resources are reported using a breakeven cutoff grade of 0.192 g/tonne and sulphide Mineral Resources are reported using a breakeven cutoff grade of 0.315 g/tonne.

● · Reward Mineral Resources are reported using a 0.2 g/tonne incremental cut-off grade.

● · Bullfrog mining costs for mineralized material and waste are US$2.25/tonne.

● · Reward mining costs for mineralized material and waste are US$2.20/tonne

• Difficulties we may encounter managing our growth could adversely affect our results of operations.
• If we lose key personnel or are unable to attract and retain additional qualified personnel, we may not be able to successfully manage our business and achieve our objectives.
• The outbreak of another coronavirus or similar pandemic may impact the Company’s plans and activities
• Mining Risks
• The nature of mineral exploration and production activities involves a high degree of risk and the possibility of uninsured losses.
• Estimates of mineral reserves and mineral resources are subject to evaluation uncertainties that could result in project failure.
• Any material changes in mineral reserves and mineral resources and grades will affect the economic viability of placing a property into production and a property’s return on capital.
• Our exploration activities on our properties may not be commercially successful, which could lead us to abandon our plans to develop our properties and our investments in exploration.
• The volatility of the price of gold and silver could adversely affect our future operations and, if warranted, our ability to develop our properties.
• We are subject to significant governmental regulations, which affect our operations and costs of conducting our business.
• Our property titles may be challenged. We are not insured against any challenges, impairments or defects to our mineral claims or property titles. We have not fully verified title to our properties.
• Possible amendments to the General Mining Law could make it more difficult or impossible for us to execute our business plan.
• Market forces or unforeseen developments may prevent us from obtaining the supplies and equipment necessary to explore for gold and other minerals.
• We may not be able to maintain the infrastructure necessary to conduct exploration activities.
• Regulations and pending legislation governing issues involving climate change could result in increased operating costs, which could have a material adverse effect on our business.
• Our relationship with the communities in which we operate impacts the future success of our operations.
• General Risks
• We are required to comply with Canadian securities regulations and are subject to additional regulatory scrutiny in Canada.
• Our stock price may be volatile.
• We have never paid nor do we expect in the near future to pay dividends.
• Broker-dealers may be discouraged from effecting transactions in shares of common stock because they are considered a penny stock and are subject to the penny stock rules.
• Offers or availability for sale of a substantial number of shares of our common stock may cause the price of our common stock to decline.
• We are dependent upon information technology systems, which are subject to disruption, damage, failure and risks associated with implementation and integration. A cybersecurity breach could occur and result in information theft, data corruption, operational disruption, disclosure of business sensitive, confidential or personally identifiable information, misdirected wire transfers, reputational harm, and financial loss.
• We are or may become subject to data privacy laws, regulations, litigation and directives relating to our processing of personal information.