Augusta Gold Corp. (OTCPK:AUGG) entered into an agreement to acquire Reward Project in Nevada from Waterton Nevada Splitter LLC for approximately $42 million on April 21, 2022. $12.5M cash paid on closing of the transaction ("Closing") with cash on hand. $15 million comprised of 7,800,000 Augusta Gold shares paid on Closing with the remaining payable at the time of Augusta Gold's next equity financing, in cash or Augusta Gold shares, provided the additional amount of shares does not result in Waterton owning more than 9.99% of Augusta Gold's issued and outstanding shares; and $17.5 million cash paid within 90 days of Closing which is backstopped by the Company's Executive Chairman and significant shareholder, Richard Warke. Closing of the transaction is subject to several conditions, including receipt of all required regulatory approvals and approval of the exchange with respect to the listing on the Exchange of the Payment Shares.

Augusta Gold Corp. (OTCPK:AUGG) completed the acquisition of Reward Project in Nevada from Waterton Nevada Splitter LLC on June 13, 2022. The transaction received TSX approval. As of September 14, 2022, Augusta Gold has completed the remaining payment aggregating $22,121,398 due to Waterton Nevada Splitter LLC.