In This Article:
Sydney, Australia--(Newsfile Corp. - February 27, 2025) - Established gold producer Austral Gold Limited (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) ("Austral" or the "Company") is pleased to announce that Inversiones Financieras del Sur SA ("IFISA") assigned and transferred US$2 million a US$3.5 million unsecured credit facility dated 30 August 2024 to two of the Company's directors.
Eduardo Elsztain has accepted the assignment of US$1.7 million, and Saúl Zang has accepted US$0.3 million of the unsecured credit facility, effective from the date of the facility.
IFISA is the Company's largest shareholder and Eduardo Elsztain and Saúl Zang, are also directors and shareholders of IFISA.
Prior to the assignment, IFISA had disbursed US$2.5 million under the US$3.5 million unsecured credit facility dated and disclosed on 30 August 2024.
All other material terms remain as previously announced by the Company.
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.
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 by the Company's Chief Executive Officer of Austral Gold, 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 |
| +61 433 292 290 | +61 466 892 307 |
Forward Looking Statements
Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections - statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include that Austral continues to lay the foundation for its growth strategy by advancing its attractive portfolio of producing and exploration assets.