Augusta Gold Shareholders Endorse Acquisition by AngloGold Ashanti in Landmark Vote

Augusta Gold Shareholders Approve Acquisition by AngloGold Ashanti

On October 20, 2025, Augusta Gold Corp. (TSX: G) (OTCQB: AUGG) revealed that during a special meeting, shareholders voted overwhelmingly in favor of a significant transaction: the merger with AngloGold Ashanti. This merger represents a strategic move aiming to enhance Augusta Gold's position within the mining industry.

The special meeting witnessed 59,884,859 shares of Augusta Gold’s common stock being cast, equating to approximately 69.69% of the total issued and outstanding shares as of the record date of September 12, 2025. An impressive 69.44% voted in favor of the merger resolution, while a striking 99.37% of the shares voted during the meeting supported the proposal, excluding votes from certain related parties as mandated by securities regulations.

This merger is governed by a comprehensive Agreement and Plan of Merger established on July 15, 2025. It envisions a merger of Augusta Gold with the wholly-owned subsidiary of AngloGold Ashanti, rendering it a wholly-owned entity under AngloGold Ashanti's umbrella. The completion of this merger is subject to customary conditions, and it is expected to be finalized around October 23, 2025. Following this closing, Augusta Gold anticipates that its shares will be delisted from both the Toronto Stock Exchange and the OTCQB marketplace.

Shareholders of Augusta Gold seeking further information or assistance regarding the exchange of their shares pursuant to the merger are directed to contact Computershare Trust Company of Canada, designated as the exchange agent for this transaction. Additionally, more comprehensive information can be found in the definitive proxy statement issued by Augusta Gold on September 17, 2025.

In conjunction with the merger proceedings, Augusta Gold has also submitted an application to the British Columbia Securities Commission and the Ontario Securities Commission to cease being a reporting issuer in Canada post-merger. Should this application be granted, Augusta Gold will no longer be bound by the disclosure requirements applicable to reporting issuers under Canadian legislation.

Furthermore, the company plans to submit filings to the U.S. Securities and Exchange Commission to terminate its reporting obligations in the United States once the merger is completed. This strategic decision aligns with Augusta Gold’s objectives to streamline its operations while focusing on its mining projects.

Augusta Gold focuses on the exploration and development of its notable Reward and Bullfrog gold projects located in the Bullfrog mining district, approximately 120 miles northwest of Las Vegas, Nevada. The leadership team boasts extensive experience in financing and developing mining assets, underscoring its commitment to delivering value for shareholders.

As the merger approaches completion, Augusta Gold’s stakeholders continue to remain optimistic about the potential benefits and growth opportunities that this partnership with AngloGold Ashanti can bring to the table, marking a transformative step towards a robust future in the mining sector.

The company acknowledges the forward-looking nature of this announcement, emphasizing that expectations related to the completion of the merger are subject to various risks and uncertainties that may impact actual outcomes.