Notice of Austral Gold Limited Annual General Meeting

Vancouver, British Columbia--(Newsfile Corp. - October 28, 2016) - Austral Gold Ltd. (ASX: AGD) (TSXV: AAM) advises that the following documents will be dispatched to shareholders today:

• 2016 Notice of Annual General Meeting
• Proxy Form
• Annual Report (to those shareholders who have requested it)

If you are interested in the information disclosed in these documents, including the date of the meeting and the record date for determining who is entitled to vote at the meeting, the Company has filed, and invites you to access, a complete copy of these documents on the Company's profile on SEDAR, www.sedar.com.

About Austral Gold

Austral Gold Ltd. 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 project in Chile is a low-cost gold and silver producing mine with further exploration upside. The company is also operator of the underground silver-gold Casposo mine in San Juan, Argentina. 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 Ltd. is listed on the TSX Venture Exchange (TSXV:AAM) 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 Ltd.:

"Stabro Kasaneva"

President and CEO

Further information please contact: