# AUGUSTA GOLD ANNOUNCES FEASIBILITY STUDY RESULTS FOR ITS 100% OWNED, CONSTRUCTION-READY REWARD PROJECT; INITIATES STRATEGIC PROCESS Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/augusta-gold-announces-feasibility-study-results-for-its-100-owned-construction--a80830da-1a16-49fd-8559-f63edd664096 Original source: https://money.tmx.com/en/quote/G/news/7613351952397104/augusta-gold-announces-feasibility-study-results-for-its-100-owned-construction- Publisher: tmx Original announcement: 2024-09-05T10:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Augusta Gold Corp. - Ticker: G - Exchange: TSX - Region: Nevada - Primary commodity: Gold - Secondary commodities: Silver - Document categories: Resource update, Metallurgy - Extracted: 2026-09-12 05:58:00 UTC Narrative sentiment: 0.70 · Bullish ## Minestarters Atlas summary Augusta Gold announced positive Feasibility Study results for its 100% owned, construction-ready Reward Project in Nevada. The study outlines Proven and Probable Mineral Reserves of 370,000 ounces of gold at 0.86 g/t, with an after-tax NPV5% of US$50.6 million and an IRR of 16.6% at a base case gold price of US$1,975/oz. The project is fully permitted, has an estimated pre-production capital cost of US$89.7 million, an All-in Sustaining Cost of US$1,328 per ounce, and gold recoveries of 79% for the heap leach operation. Reasoning: Augusta Gold announced positive Feasibility Study results for its construction-ready Reward Project, establishing significant gold reserves, strong economic metrics, and high metallurgical recoveries, while also initiating a strategic review process. - Positive factor: Feasibility Study confirms economic viability - Positive factor: Project is construction-ready with all permits in place - Positive factor: Significant Proven and Probable gold reserves established - Positive factor: Positive financial metrics \(NPV, IRR, low AISC\) - Positive factor: High gold recovery for heap leach operation - Positive factor: Strategic location in a prolific gold district - Negative factor: Initiation of strategic review process may indicate funding challenges or potential sale - Negative factor: Loan term extension needed Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 12 ## Classification and evidence **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: the document describes a heap\_leach route \("heap leach"\) ## Extracted facts Stored fact records: 12. Some facts used in scoring do not have a stored record. ## Resource Estimates (11) ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/augusta-gold-announces-feasibility-study-results-for-its-100-owned-construction--a80830da-1a16-49fd-8559-f63edd664096#fact-resource-facts-0) Reward Project · gold #### Identity - Project: Reward Project - Commodity: gold - Region: usa\_nv - Reported Region: Nevada - Ticker: G #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Thomas L. Dyer - Resource group id: resource:903e18417d4aa8d24f23 #### Resource Data - Category: proven - Tonnes: 5490000 - Contained Metal: 164 - Contained Unit: k oz au - Cutoff Grade: 0.008 - Cutoff Unit: oz Au/ton #### Prior Estimate - Resource Date: 2024-09-03 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-05T00:00:00.000Z Reasoning: Proven Mineral Reserves confirm a high-confidence, economically viable portion of the construction-ready Reward Project. - Positive factor: High confidence category - Positive factor: Economic viability demonstrated - Positive factor: Part of construction-ready project Evidence · table > Proven Context: 6,052 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/augusta-gold-announces-feasibility-study-results-for-its-100-owned-construction--a80830da-1a16-49fd-8559-f63edd664096#fact-resource-facts-1) Reward Project · gold #### Identity - Project: Reward Project - Commodity: gold - Region: usa\_nv - Reported Region: Nevada - Ticker: G #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Thomas L. Dyer - Resource group id: resource:63d4cd037cc15b40aadf #### Resource Data - Category: probable - Tonnes: 8164000 - Contained Metal: 205 - Contained Unit: k oz au - Cutoff Grade: 0.008 - Cutoff Unit: oz Au/ton #### Prior Estimate - Resource Date: 2024-09-03 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-05T00:00:00.000Z Reasoning: Probable Mineral Reserves confirm a high-confidence, economically viable portion of the construction-ready Reward Project. - Positive factor: High confidence category - Positive factor: Economic viability demonstrated - Positive factor: Part of construction-ready project Evidence · table > Probable Context: 8,999 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/augusta-gold-announces-feasibility-study-results-for-its-100-owned-construction--a80830da-1a16-49fd-8559-f63edd664096#fact-resource-facts-2) Reward Project · gold #### Identity - Project: Reward Project - Commodity: gold - Region: usa\_nv - Reported Region: Nevada - Ticker: G #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Thomas L. Dyer - Resource group id: resource:32a5d85b5ef9359a2378 #### Resource Data - Category: probable - Tonnes: 13656000 - Contained Metal: 370 - Contained Unit: k oz au - Cutoff Grade: 0.008 - Cutoff Unit: oz Au/ton #### Prior Estimate - Resource Date: 2024-09-03 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-05T00:00:00.000Z Reasoning: Proven and Probable Mineral Reserves confirm a high-confidence, economically viable portion of the construction-ready Reward Project. - Positive factor: High confidence category - Positive factor: Economic viability demonstrated - Positive factor: Part of construction-ready project Evidence · table > Proven and Probable Context: 15,052 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/augusta-gold-announces-feasibility-study-results-for-its-100-owned-construction--a80830da-1a16-49fd-8559-f63edd664096#fact-resource-facts-3) Bullfrog Project · gold #### Identity - Project: Bullfrog Project - Commodity: gold - Region: usa\_nv - Reported Region: Nevada - Ticker: G #### Resource scope - Estimate type: resource - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Russ Downer, Adam House - Resource group id: resource:b3bcd39d1691676f5020 #### Resource Data - Category: measured - Tonnes: 30130000 - Grade: 0.544 - Grade Unit: g/t - Contained Metal: 526.68 - Contained Unit: koz #### Prior Estimate - Resource Date: 2021-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-05T00:00:00.000Z Reasoning: Measured Mineral Resources provide a high-confidence estimate for the Bullfrog Project, though the estimate is from 2021. - Positive factor: High confidence category - Positive factor: Large tonnage - Positive factor: Supports larger project potential - Negative factor: Stale estimate \(effective date 2021\) Evidence · table > Measured Context: 30.13 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/augusta-gold-announces-feasibility-study-results-for-its-100-owned-construction--a80830da-1a16-49fd-8559-f63edd664096#fact-resource-facts-4) Bullfrog Project · silver #### Identity - Project: Bullfrog Project - Commodity: silver - Region: usa\_nv - Reported Region: Nevada - Ticker: G #### Resource scope - Estimate type: resource - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Russ Downer, Adam House - Resource group id: resource:b3bcd39d1691676f5020 #### Resource Data - Category: measured - Tonnes: 30130000 - Grade: 1.35 - Grade Unit: g/t - Contained Metal: 1309.13 - Contained Unit: koz #### Prior Estimate - Resource Date: 2021-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-05T00:00:00.000Z Reasoning: Measured Mineral Resources provide a high-confidence estimate for the Bullfrog Project, though the estimate is from 2021. - Positive factor: High confidence category - Positive factor: Large tonnage - Positive factor: Supports larger project potential - Negative factor: Stale estimate \(effective date 2021\) Evidence · table > Measured Context: 30.13 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/augusta-gold-announces-feasibility-study-results-for-its-100-owned-construction--a80830da-1a16-49fd-8559-f63edd664096#fact-resource-facts-5) Bullfrog Project · gold #### Identity - Project: Bullfrog Project - Commodity: gold - Region: usa\_nv - Reported Region: Nevada - Ticker: G #### Resource scope - Estimate type: resource - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Russ Downer, Adam House - Resource group id: resource:177b9de6cd4ff825ed59 #### Resource Data - Category: indicated - Tonnes: 40880000 - Grade: 0.519 - Grade Unit: g/t - Contained Metal: 682.61 - Contained Unit: koz #### Prior Estimate - Resource Date: 2021-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-05T00:00:00.000Z Reasoning: Indicated Mineral Resources provide a high-confidence estimate for the Bullfrog Project, though the estimate is from 2021. - Positive factor: High confidence category - Positive factor: Large tonnage - Positive factor: Supports larger project potential - Negative factor: Stale estimate \(effective date 2021\) Evidence · table > Indicated Context: 40.88 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/augusta-gold-announces-feasibility-study-results-for-its-100-owned-construction--a80830da-1a16-49fd-8559-f63edd664096#fact-resource-facts-6) Bullfrog Project · silver #### Identity - Project: Bullfrog Project - Commodity: silver - Region: usa\_nv - Reported Region: Nevada - Ticker: G #### Resource scope - Estimate type: resource - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Russ Downer, Adam House - Resource group id: resource:177b9de6cd4ff825ed59 #### Resource Data - Category: indicated - Tonnes: 40880000 - Grade: 1.18 - Grade Unit: g/t - Contained Metal: 1557.49 - Contained Unit: koz #### Prior Estimate - Resource Date: 2021-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-05T00:00:00.000Z Reasoning: Indicated Mineral Resources provide a high-confidence estimate for the Bullfrog Project, though the estimate is from 2021. - Positive factor: High confidence category - Positive factor: Large tonnage - Positive factor: Supports larger project potential - Negative factor: Stale estimate \(effective date 2021\) Evidence · table > Indicated Context: 40.88 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/augusta-gold-announces-feasibility-study-results-for-its-100-owned-construction--a80830da-1a16-49fd-8559-f63edd664096#fact-resource-facts-7) Bullfrog Project · gold #### Identity - Project: Bullfrog Project - Commodity: gold - Region: usa\_nv - Reported Region: Nevada - Ticker: G #### Resource scope - Estimate type: resource - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Russ Downer, Adam House - Resource group id: resource:63fefd9937038044b7ce #### Resource Data - Category: indicated - Tonnes: 71010000 - Grade: 0.53 - Grade Unit: g/t - Contained Metal: 1209.29 - Contained Unit: koz #### Prior Estimate - Resource Date: 2021-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-05T00:00:00.000Z Reasoning: Measured and Indicated Mineral Resources provide a high-confidence estimate for the Bullfrog Project, though the estimate is from 2021. - Positive factor: High confidence category - Positive factor: Large tonnage - Positive factor: Supports larger project potential - Negative factor: Stale estimate \(effective date 2021\) Evidence · table > Measured and Indicated Context: 71.01 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/augusta-gold-announces-feasibility-study-results-for-its-100-owned-construction--a80830da-1a16-49fd-8559-f63edd664096#fact-resource-facts-8) Bullfrog Project · silver #### Identity - Project: Bullfrog Project - Commodity: silver - Region: usa\_nv - Reported Region: Nevada - Ticker: G #### Resource scope - Estimate type: resource - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Russ Downer, Adam House - Resource group id: resource:63fefd9937038044b7ce #### Resource Data - Category: indicated - Tonnes: 71010000 - Grade: 1.26 - Grade Unit: g/t - Contained Metal: 2866.62 - Contained Unit: koz #### Prior Estimate - Resource Date: 2021-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-05T00:00:00.000Z Reasoning: Measured and Indicated Mineral Resources provide a high-confidence estimate for the Bullfrog Project, though the estimate is from 2021. - Positive factor: High confidence category - Positive factor: Large tonnage - Positive factor: Supports larger project potential - Negative factor: Stale estimate \(effective date 2021\) Evidence · table > Measured and Indicated Context: 71.01 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/augusta-gold-announces-feasibility-study-results-for-its-100-owned-construction--a80830da-1a16-49fd-8559-f63edd664096#fact-resource-facts-9) Bullfrog Project · gold #### Identity - Project: Bullfrog Project - Commodity: gold - Region: usa\_nv - Reported Region: Nevada - Ticker: G #### Resource scope - Estimate type: resource - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Russ Downer, Adam House - Resource group id: resource:b9abf0491b93528d24f8 #### Resource Data - Category: inferred - Tonnes: 16690000 - Grade: 0.481 - Grade Unit: g/t - Contained Metal: 257.9 - Contained Unit: koz #### Prior Estimate - Resource Date: 2021-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-05T00:00:00.000Z Reasoning: Inferred Mineral Resources add to the Bullfrog Project's overall potential but represent a lower confidence category from an older estimate. - Positive factor: Adds to overall resource base - Positive factor: Potential for future upgrade - Negative factor: Low confidence category - Negative factor: Stale estimate \(effective date 2021\) Evidence · table > Inferred Context: 16.69 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/augusta-gold-announces-feasibility-study-results-for-its-100-owned-construction--a80830da-1a16-49fd-8559-f63edd664096#fact-resource-facts-10) Bullfrog Project · silver #### Identity - Project: Bullfrog Project - Commodity: silver - Region: usa\_nv - Reported Region: Nevada - Ticker: G #### Resource scope - Estimate type: resource - Reporting standards: sec\_sk1300, ni\_43\_101 - QP Signed: Yes - Qualified person names: Russ Downer, Adam House - Resource group id: resource:b9abf0491b93528d24f8 #### Resource Data - Category: inferred - Tonnes: 16690000 - Grade: 0.96 - Grade Unit: g/t - Contained Metal: 515.72 - Contained Unit: koz #### Prior Estimate - Resource Date: 2021-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-05T00:00:00.000Z Reasoning: Inferred Mineral Resources add to the Bullfrog Project's overall potential but represent a lower confidence category from an older estimate. - Positive factor: Adds to overall resource base - Positive factor: Potential for future upgrade - Negative factor: Low confidence category - Negative factor: Stale estimate \(effective date 2021\) Evidence · table > Inferred Context: 16.69 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.7 years before this release ## Metallurgical Results (1) ### Fact 1 [Link to this fact](https://atlas-extractions.minestarters.com/news/augusta-gold-announces-feasibility-study-results-for-its-100-owned-construction--a80830da-1a16-49fd-8559-f63edd664096#fact-metallurgical-facts-11) Reward Project · gold #### Identity - Project: Reward Project - Commodity: gold - Region: usa\_nv - Reported Region: Nevada - Ticker: G #### Test Work - Program Status: detailed - Processing Route: heap leach #### Recovery - Recovery: 79 % - Recovery Basis: actual\_test #### Lab - Laboratory: McClelland labs #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-09-05T00:00:00.000Z Reasoning: The 79% gold recovery for the heap leach operation is excellent and supports the economic viability of the Reward Project. - Positive factor: High gold recovery for heap leach - Positive factor: Supports project economics Evidence · text > Metallurgical testing by McClelland labs has indicated gold recoveries of approximately 81%. Recoveries used for the Reward study are 79% applying a 2% deduction for potential operational losses. #### Tags used in scoring **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: processing\_route matches the heap\_leach signal ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.