AUSGOLD LIMITED — Capital/Financing Update 2016

Nov 29, 2016

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ASX CODE

Wednesday, 30 November 2016

AUC

DIRECTORS & MANAGEMENT

Mr Richard Lockwood Non-Executive Chairman

Mr Denis Rakich Executive Director & Company Secretary

Mr Neil Fearis Independent Non-Executive Director

Mr Geoff Jones Non-Executive Director

Miss Melanie Sutterby Geology Manager

Ms Elsie Lee Financial Controller

REGISTERED OFFICE

Level 16, AMP Building 140 St Georges Terrace Perth WA 6000

SHARE REGISTRY

Security Transfer Registrars 770 Canning Highway Applecross WA 6153

ISSUED CAPITAL (29.11.16)

Ordinary shares: 327.5m Unlisted options: 44.9m

AUSGOLD RAISES $800,000 IN PLACEMENT TO FUND DRILL PROGRAM AT KATANNING GOLD PROJECT

Highlights

• Placement to raise $800,000 from sophisticated and professional investors

• Funds raised will be used to fund the upcoming RC drill program at Ausgold’s Katanning Gold Project

• Strong support for Placement shown from existing shareholders and new investors

Ausgold Limited (“Ausgold” or “the Company”) (ASX: AUC) is pleased to announce that it has received commitments to raise approximately $800,000 through a placement of approximately 23 million shares to professional and sophisticated investors at $0.035 per share (“Placement”). A number of existing shareholders showed strong support for the Placement and the Company has also welcomed a number of new investors to its share register.

The funds raised from the Placement will be used to fund the recently commenced reverse circulation (“RC”) drilling program at the Company’s Katanning Gold Project which will consist of 2,500m of drilling at three high priority areas at the White Dam, Datatine and Fraser deposits.

Hartleys Limited is Broker to the Placement which is being completed in a single tranche within the Company’s capacity pursuant to ASX Listing Rule 7.1 and in accordance Section 708 of the Corporations Act 2001 (Cth) (Act).

Ausgold’s Chairman, Mr Richard Lockwood, commented:

“We are very pleased with the support shown for the placement from both our existing shareholders and a range of new sophisticated and professional investors.

The placement will be used to fund our recently commenced RC drilling program at the Katanning Gold Project. The RC drilling program is primarily focussed at the Company’s White Dam, Datatine and Fraser deposits.

We look forward to keeping the market updated on the progress of the drilling program at Katanning with RC assay results expected to be finalised during January 2017.”

INVESTOR RELATIONS

Mr Denis Rakich T: +61 (0)8 9220 9890 M: +61 (0)409 209 882 E: drakich@ausgoldlimited.com

For further information, shareholders and media please contact: Mr Denis Rakich Director T : (08) 9220 9882 M : 0409 209 882

DRILLING TO COMMENCE AT KATANNING GOLD PROJECT