Drilling Commences At The Stockade Mountain Project

VANCOUVER - Austin Gold Corp. has commenced drilling at its Stockade Mountain Project located in Malheur County, Oregon. It consists of 261 unpatented lode mining claims that cover an area of 6,790 acres, approximately 85 kilometers southeast of Burns, Oregon, and 150 kilometers southwest of Boise, Idaho. The Stockade Mountain Project is a gold and silver exploration-stage project with a history of significant exploration work, followed by twenty years of little to no work. The property is a classic large epithermal/hot springs alteration system associated with rhyolite intrusions and doming focused along a major NW-trending structural corridor. Past exploration programs conducted included shallow exploration holes targeting bulk tonnage potential, with no efforts to target deeper high-grade gold/silver vein deposits. Many of these short holes returned significant lengths of strongly anomalous gold mineralization, with the best intercept being 79.2 m (260 ft) averaging 0.937 g/t gold from 45.7 - 125 m (150 - 410 ft).

The drilling program is designed to test beneath the known high-level gold/silver-bearing stockworks mineralization for high-grade vein deposits formed deeper in the hydrothermal system. Drilling is planned to consist of 4,000 to 5,000 feet in four or five diamond drill (core) holes, each hole to be 800 to 1,500 feet deep. It is expected that the program will take up to eight weeks to complete, with assay results to follow.