Comstock Study Update

Summary:

Aureka has made significant progress in the Comstock Gold & Silver Project, with the selection of Walkers Pit for development and the submission of a Prospecting Licence. The initial Concept Study identified a cost-efficient pathway for production, leveraging existing infrastructure and mineralization at the site. Infill diamond drilling continues to uncover high-grade intercepts, supporting future resource upgrades.

The company aims to fast-track production at Comstock, taking advantage of its historical mining footprint. While the Study is conceptual in nature and more work is needed for resource classification, the potential for a profitable operation is promising. Aureka's portfolio includes other complementary assets, contributing to a total inferred gold resource of 455koz.

Investors are encouraged to engage with management for further insights and updates on the progress of the project. Despite the uncertainties associated with exploration and production, Aureka's strategic approach and geological understanding position them for success in the Victorian gold sector.