Austin Metals (AYT) Q4 2025 earnings summary

Executive summary

• Significant gold mineralisation discovered at Mt Sandy and Brunswick Hill, with high-grade intercepts and new fault zones identified, indicating potential for large-scale gold systems.

• Maiden RC drilling at Ashburton Project defined a laterally extensive Cu-Au system over 900m, with high-grade gold and copper intercepts.

• Divestment of Broken Hill tenement package for $400,000 to focus on core Western Australian assets, retaining upside via equity in Kingfisher Mining.

Segment performance

• Mt Sandy: Confirmed high-grade gold within a west-dipping shear zone, open in all directions, with intercepts up to 4.0m @ 4.2g/t Au and 1.0m @ 12.6g/t Au.

• Brunswick Hill: New mineralised fault zone discovered, enhancing potential for multiple gold structures.

• Ashburton: RC drilling revealed 1-10m thick mineralised zones, with results such as 2.0m @ 2.1g/t Au, 1.2% Cu and 2.0m @ 2.7g/t Au.

Significant events and developments

• Entered binding agreement to sell Broken Hill assets for $400,000 (half cash, half shares), streamlining portfolio and focusing on WA gold projects.

• Completed Director placement, raising $50,000 for exploration and working capital.

• No mining development or production activities during the quarter; $430,000 spent on exploration and evaluation.