Austral Gold Announces Filing of Q3 2019 Quarterly Activity Report

MEDIA RELEASE

Austral Gold Limited

22 October 2019

Austral Gold Announces Filing of Q3 2019 Quarterly Activity Report

Austral Gold Limited (the “Company”) (ASX: AGD; TSX-V: AGLD) is pleased to announce that it has filed its Q3 2019 Quarterly Activity Report. The Report is available under the Company’s profile at www.asx.com.au and www.sedar.com and on the Company’s website at www.australgold.com.

About Austral Gold

Austral Gold Limited is a growing precious metals mining, development and exploration company building a portfolio of quality assets in Chile and Argentina. The Company's flagship Guanaco/Amancaya project in Chile is a gold and silver producing mine with further exploration upside. The company also holds the Casposo Mine (San Juan, Argentina) and an attractive portfolio of exploration projects including the Pingüino project in Santa Cruz, Argentina (100% interest) and the San Guillermo and Reprado projects near Amancaya (100% interest). With an experienced local technical team and highly regarded major shareholder, Austral's goal is to continue to strengthen its asset base through acquisition and discovery. Austral Gold Limited is listed on the TSX Venture Exchange (TSXV: AGLD), and the Australian Securities Exchange. (ASX: AGD). For more information, please consult the company's website 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.

On behalf of Austral Gold Limited:

"Stabro Kasaneva" CEO

For additional information please contact:

Jose Bordogna David Hwang

Chief Financial Officer Company Secretary Austral Gold Limited Austral Gold Limited [email protected] [email protected] +54 (11) 4323 7558 +61 (2) 9698 5414

Austral Gold Limited ABN 30 075 860 472 ASX: AGD TSXV: AGLD Level 5 126 Phillip St, Sydney NSW 2000 | T +61 2 9380 7233 | F +61 2 9251 7455 | [email protected] | www.australgold.com