Au Gold Corp (TSXV: AUGC) has announced a non-brokered private placement of $2,000,000, structured as 8,695,652 units at $0.23 per unit, to fund exploration at its Havelock Gold-Antimony Project in Victoria, Australia. The financing comes as the company signals a significant expansion of its planned drilling program, with management now targeting 5,000 metres rather than the originally proposed 2,000 metres. The announcement, dated 29 September 2026, is subject to TSX Venture Exchange approval. Investors may be watching closely given the scale-up in exploration ambition implied by the revised drill target.

Key Points

  • Au Gold Corp (TSXV: AUGC) announced a $2,000,000 non-brokered private placement on 29 September 2026.
  • The placement comprises 8,695,652 units at $0.23 each, with each unit including one share and one half-warrant exercisable at $0.40 for three years.
  • Management now anticipates a 5,000-metre diamond drill program at the Havelock Gold-Antimony Project, up from the originally planned 2,000 metres.
  • Investors should watch for TSX Venture Exchange approval and further drill target disclosures from the Shaw–McFarlane Trend.

Private Placement Structure and Use of Proceeds at AUGC

The non-brokered private placement is priced at $0.23 per unit, with each of the 8,695,652 units consisting of one common share and one half-warrant. Each full warrant entitles the holder to acquire one additional share at $0.40 for a period of three years. Securities issued under the placement will be subject to a hold period of four months and one day in accordance with applicable Canadian securities laws. Proceeds are designated for exploration on the company's mineral properties and general corporate purposes. The financing remains conditional on TSX Venture Exchange approval.

Havelock Drill Target Expansion Drives Capital Raise

Au Gold Corp's Havelock Gold-Antimony Project in Victoria, Australia, is the primary driver of this financing. The company states that the number and quality of drill targets defined at Havelock have exceeded management's expectations. As a result, the company now anticipates a 5,000-metre diamond drill program, a significant increase from the previously proposed maiden program of 2,000 metres. The release notes that press releases detailing initial drill targets on the Shaw–McFarlane Trend were issued on 16 September 2026 and 21 September 2026, providing context for the scale of exploration interest at the project.

Qualified Person Oversight of Technical Disclosure

Technical information contained in the announcement was prepared under the supervision of William Wengzynowski, P.Eng., in his capacity as AUGC's Exploration Manager. The release confirms Mr. Wengzynowski qualifies as a Qualified Person as defined under National Instrument 43-101, providing regulatory oversight of the technical data supporting the company's exploration disclosures. The immediate share price impact was not clear from available public information.