HIGHLIGHTS
Consolidated FY2026 production guidance: 26,000 to 30,000 gold-equivalent ounces (GEOs).

Guanaco Mine (Chile): 15,000-17,000 GEOs primarily from the heap-reprocessing project.

Casposo Mine (Argentina): 11,000-13,000 GEOs, based on six months of operations using Casposo-owned ore. During the other six months, the Casposo Plant is scheduled to process Hualilan ore under quarterly toll campaigns agreed with Challenger Gold under the toll-processing-agreement.

Sydney, Australia--(Newsfile Corp. - December 5, 2025) - Austral Gold Limited (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) ("Austral" or the "Company"), an established gold producer, advises that it has prepared consolidated production guidance for the fiscal year ending 31 December 2026 for its two wholly owned producing mines in Argentina and Chile.

Guanaco Mine (Chile)- FY2026 Production Guidance

Production for FY2026 is forecast at 15,000-17,000 GEOs, primarily from mineralised material sourced from the heap-reprocessing project, which is expected to be the main feed source for the year.

Casposo Mine (Argentina)- FY2026 Production Guidance

Casposo, which recommenced operations in October 2025, is forecast to produce 11,000-13,000 GEOs in FY2026, corresponding to six months of operations using Casposo-owned ore. Under the toll-processing agreement with Challenger Gold, the Casposo Plant is scheduled to process Hualilan material during Q1 and Q3 2026, while Q2 and Q4 2026 are planned for processing Casposo-owned ore.

Austral Gold's Chief Executive Officer, Stabro Kasaneva said: "We are pleased to present an improved production outlook for FY2026, supported by stabilised operations at Guanaco and the restart of operations at Casposo."

About Austral Gold

Austral Gold is a growing gold and silver mining producer building a portfolio of quality assets in the Americas based on three strategic pillars: production, exploration and equity investments. Austral continues to lay the foundation for its growth strategy by advancing its attractive portfolio of producing and exploration assets. Under its equity investments pillar, Austral holds shares and options in ASX-listed Unico Silver, as previously disclosed in the September 2025 Quarterly Report.

For more information, please visit the Company's website at www.australgold.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Release approved on behalf of the Board by the Chief Executive Officer, Stabro Kasaneva.

For additional information please contact:

David Hwang Jose Bordogna
Joint Company Secretary Chief Financial Officer and Joint Company Secretary
Austral Gold Limited Austral Gold Limited
david@confidantpartners.com jose.bordogna@australgold.com
+61 433 292 290 +61 466 892 307