Portland, Oregon--(Newsfile Corp. - October 27, 2026) - Geomorphic AI ("Geomorphic" or the "Company"), a private North American AI-driven minerals prospect generator, an AI-driven minerals prospect generator, is pleased to announce that it has been engaged by Au Gold Corp (TSXV: AUGC) ("Au Gold") to independently validate drill targeting at Au Gold's 100%-owned Havelock Gold-Antimony Project in Victoria, Australia, and to conduct a broader project generation program across the Victorian Goldfields.
Under the engagement, Geomorphic will compile and validate historical and modern exploration data, prepare geological syntheses, and provide Au Gold's technical team with a ranked portfolio of exploration targets across its Havelock and Ponderosa projects. In parallel, Geomorphic will use its proprietary platform to identify additional gold exploration opportunities across Victoria that Au Gold may elect to acquire.
Geomorphic AI Chief Executive Officer, Mark Sumner, said, "Havelock is the kind of project our platform was built for. The Victorian Goldfields hold an exceptional historical archive, from the mine managers' reports of the 1860s through to modern drilling on the Leviathan-Mariner's Trend, but that record was produced by many separate companies to very different standards. Our job is to make it auditable, show what the evidence actually supports, and hand Au Gold's geologists targets they can question, refine and ultimately drill test."
Havelock Gold-Antimony Project
Havelock covers approximately 11,663 hectares in the Victorian Goldfields, between Bendigo and Ballarat. The region has produced more than 80 million ounces of gold and hosts several significant operating mines and discoveries, including Agnico Eagle's Fosterville Mine, Southern Cross Gold Consolidated's Sunday Creek discovery and Alkane Resources' Costerfield gold-antimony mine.
The Project includes the approximately 9-kilometre Shaw-McFarlane Trend, which has never been drill tested, together with the Leviathan-Mariner's and Oxonian trends.
Historical records compiled by Au Gold indicate recorded hard-rock production from the Shaw-McFarlane Trend of approximately 17,097 ounces of gold at an average grade of 28.7 g/t gold between 1864 and 1891. The deepest historical workings at Shaw's Main reached only approximately 152 metres, with other mines along the trend worked to less than approximately 107 metres.
This historical information predates NI 43-101 and no mineral resources currently exist on the Project.
Au Gold Founder and Chief Executive Officer, Marc Blythe, said, "Havelock is well described in historic mining records that date back a century and a half. The Company recently reconstructed long sections for the main historical mines along the central portion of Shaw-McFarlane Trend to guide its upcoming drill campaign. Geomorphic gives us a way to combine and validate all project information, old and new, in one consistent, auditable framework and to rank targets with the evidence attached. That is exactly the discipline we want behind our first modern drill holes at Havelock."
Geomorphic Mandate
Geomorphic's work across Havelock and Ponderosa will begin with a search for additional historical and technical information from government and other public archives that may not currently be incorporated into Au Gold's project databases.
Geomorphic will integrate that information with Au Gold's existing surface, geophysical and other exploration datasets to develop geological syntheses and ranked target portfolios. Each target will be supported by the underlying evidence, confidence assessment and criteria that could challenge or disprove the interpretation, with targets updated and re-ranked as new exploration results become available.
In parallel, Geomorphic will undertake a broader project generation program across Victoria, screening public geological, geochemical and historical mining records for new gold exploration opportunities on ground not currently held by Au Gold.
Each new project identified by Geomorphic will be delivered to Au Gold for evaluation, with Au Gold retaining sole discretion over whether to acquire the opportunity.
Agreement Highlights
Under the services agreement:
- Geomorphic will provide data compilation and validation, geological synthesis, target generation and target ranking across Au Gold's Havelock and Ponderosa projects.
- Geomorphic will conduct a broader project generation program to identify new gold exploration opportunities across Victoria.
- Au Gold may elect to acquire new projects identified by Geomorphic.
- For any qualifying project acquired by Au Gold or an affiliate within five years of delivery, Geomorphic will receive a 2% net smelter returns royalty on Au Gold's attributable interest.
- The royalty does not apply to Havelock, Ponderosa or other mineral rights already held by Au Gold.
- Au Gold has granted Geomorphic 250,000 stock options, exercisable at C$0.28 per share for five years, subject to Au Gold's stock option plan and the policies and acceptance of the TSX Venture Exchange.
About Geomorphic AI
Geomorphic AI is an AI-driven minerals prospect generator combining proprietary technology with geological expertise to identify, evaluate and advance mineral opportunities.
The Company applies its platform across three core areas: generating and advancing its own mineral projects, working selectively with exploration and mining companies on technical evaluation and targeting, and building long-term exposure through royalties and strategic project-generation agreements.
Geomorphic's platform integrates large volumes of historical and modern geological information into source-traceable technical frameworks designed to help geologists evaluate opportunities, test interpretations and prioritize exploration decisions.
Further information is available at www.geomorphic.ai.
CONTACT
For joint-venture, earn-in and acquisition enquiries: Jeff Phillips, VP Business Development | investors@geomorphic.ai
Qualified Person
Technical information in this press release was prepared under the supervision of Mr. William Wengzynowski, P.Eng., a Qualified Person as defined by NI 43-101. Mr. Wengzynowski is AUGC's Exploration Manager.
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 news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain forward-looking statements regarding Geomorphic AI's planned work under its agreement with Au Gold Corp, including the compilation and evaluation of exploration data, generation and ranking of exploration targets, identification of potential new mineral projects in Victoria, and the potential acquisition or advancement of such projects and creation of associated royalty interests.
Forward-looking statements are based on current expectations, estimates and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, among others, the availability and quality of historical and geological data, the results of technical analysis and exploration activities, decisions by Au Gold regarding the acquisition or advancement of identified projects, regulatory and permitting matters, market conditions and other risks associated with mineral exploration and project generation.
Forward-looking statements speak only as of the date of this news release. Geomorphic undertakes no obligation to update or revise any forward-looking statements except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321075
