Austin Resources Announces Completion of Private Placement

TORONTO, Aug. 08, 2019 - Austin Resources Ltd. (“Austin” or the “Company”) (TSX Venture Exchange – AUT) is pleased to announce the closing of a private placement offering of $750,000 in gross proceeds based on the issuance of 12,500,000 common shares at a price of $0.06 per common share. The common shares issued in connection with the Private Placement will be subject to a resale restriction for a period of four months plus one day from August 7, 2019.

The net proceeds of the private placement will be used for the repayment of outstanding debt, evaluation of existing properties and for working capital purposes.

Neither the 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.

For further information contact:
Austin Resources Ltd.
Jing Peng
Chief Financial Officer
Telephone: 416-848-9888
Email: info@austinresources.ca
Website: www.austinresources.ca