AUSGOLD LIMITED — Capital/Financing Update 2014

Feb 19, 2014

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ASX Announcement

Thursday 20 February 2014

ISSUE OF NEW SHARES AND NEW OPTIONS

The Directors of Ausgold Limited (“Ausgold” or the “Company”) (ASX: AUC) advise that today, Thursday 20 February 2014, the Company has allotted a total of 76,951,375 New ordinary fully paid shares together with 76,951,375 New Options.

The allotment was made pursuant to a Prospectus dated 27 November 2013 for a pro-rata Nonrenounceable Rights Issue which closed at 5.00pm AWST Friday 14 February 2014. Holding statements will be despatched on Friday 21 February 2014.

The proceeds from the Rights Issue totalled $1,154,270 before costs of the Issue.

The issued capital of Ausgold following completion of the Rights Issue is now:

• 230,854,125 ordinary fully paid shares

• 76,951,375 listed options, exercisable at $0.05 cents, expiry date 15 May 2015

• 4,216,666 unlisted options

The funds raised from this rights issue will be used to drill new high grade gold targets at Katanning, WA and advance exploration on other projects including Cracow and Yamarna.

Independent geological consulting group SKR recently completed a review of the Katanning Gold Project, which resulted in a completely new interpretation and appraisal of the project also identifying multiple new high grade gold targets ready for further exploration and drilling. These target areas include Jinkas, Jinkas West, Datatine north and Datatine south.

Ausgold will provide further information on planned exploration and drilling during the coming weeks.

The Company thanks all shareholders for their participation in the successfully completed Rights Issue.

ENDS

For further information, shareholders and media please contact:

Mr Denis Rakich Director Ph: (08) 9220 9882

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