AuQ Gold Mining Inc. announced a non-brokered private placement of 1,800,000 flow-through units at a price of CAD 0.25 per unit for gross proceeds of CAD 450,000 on December 21, 2022. Each flow-through unit is comprised of one Quebec flow-through share and one-half warrant. Each full warrant is exercisable at CAD 0.50 for 12 months from closing of the transaction, subject to acceleration, in the event that the Company's shares close trading at CAD 0.65 for ten consecutive days, in which case, the Company can, on 30 days' notice, shorten the expiry date.

The Company may pay finder's fees to arm's-length third parties in accordance with the policies of the TSX Venture Exchange. A statutory four-month-plus-one-day hold period will apply to all securities issued in connection with the transaction. The transaction is subject to TSXV approval.

The closing of the transaction is expected on or about December 29, 2022, or such other date as the Company may determine.