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ASX Release Highlights : = Ausgold LIMITED Quarterly Report for period ending 30 June 2021 30 July 2021 ● Upgraded JORC Resource of 38.18 Mt at 1.25 g / t for 1.54 Moz gold : ○ 28 % increase to Resource with the addition of 338,670 oz gold ○ ○ ○ Improved gold grade by 14 % 1 Moz of Resource in Measured and Indicated categories First - time reporting of a high - grade underground Resource with clear extensions of gold mineralisation which remain open at depth Continued a large exploration drill program in the Central Zone with new drilling of 50 holes completed for 6,964m demonstrating extensions and continuity of mineralisation along strike . Significant results included : ○ 6m @ 4.50 g / t Au from 32m including 1m @ 24.40 g / t Au in BSRC1168 ○ 35m @ 0.52 g / t Au from 28m in BSRC1173 о О О ○ 4m @ 3.32 g / t Au from 84m in BSRC1171 4m @ 3.17 g / t Au from 120m in BSRC1169 12m @ 1.00 g / t Au from 125m in BSRC1120 11m @ 0.99 g / t Au from 56m in BSRC1169 20.4m @ 1.26 g / t Au from 134.6m in BSDD026 ○ ○ 17.4m @ 1.15 g / t Au from 88.3m in BSDD027 3.45m @ 3.04 g / t Au from 90.87m in BSDD031 ○ 8m @ 1.30 g / t Au from 22m in BSRC1133 O 4m @ 2.00 g / t Au from 166m in BSRC1158 ○ 1m @ 6.89 g / t Au from 38m in BSRC1130 New drilling in the Southern Zone delivered extensive zones of high - grade gold mineralisation and confirmed mineralisation in the untested Rifle Range area . Significant results included : ○ 10m @ 2.89 g / t Au from 84m including 3m @ 8.35 g / t Au in BSRC1231 6m @ 4.5 g / t Au from 32m including 2m @ 12.75 g / t Au in BSRC1168 9m @ 2.52 g / t Au from 85m including 5m @ 4.09 g / t Au in BSRC1200 ○ ○ 18m @ 1.23 g / t Au from 83m in BSRC1230 о 10m @ 2.01 g / t Au from 66m in BSRC1226 • • • High - grade copper - silver mineralisation intersected at Woodanilling Metallurgical and geotechnical drilling and test work programs underway to support open pit and underground mining studies at the KGP Central Zone Capital raising completed for AU $ 11.25m to accelerate growth of potential scale at the Katanning Gold Project Ausgold Limited ( ASX : AUC ) ( Ausgold or the Company ) is pleased to provide the following report for the quarter ended 30 June 2021. During the quarter , Ausgold significantly advanced its 100 % -owned flagship Katanning Gold Project ( KGP ) , located 275km from Perth , Western Australia . ABN 67 140 164 496 LEVEL 16 , AMP BUILDING , 140 ST GEORGES TERRACE , PERTH WA 6000 T : 08 9220 9890 F : 08 9220 9820 E : INFO@AUSGOLDLIMITED.COM W : WWW.AUSGOLDLIMITED.COM 1