Element79 Gold Corp Announces Execution of Definitive Agreement to Acquire Gold Mountain Project in Nevada
GOLD CORP ANNOUNCES EXECUTION OF DEFINITIVE AGREEMENT TO
ACQUIRE GOLD MOUNTAIN PROJECT IN NEVADA
Vancouver, BC – August 1 , 2025 – Element79 Gold Corp. (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS0)
("Element79 Gold", the "Company") is pleased to announce that it has executed a definitive Asset
Purchase Agreement (the “Agreement”) dated July 31, 2025, with Donald James McDowell (the
“Vendor”) for the acquisition of a 100% interest in the Gold Mountain Project located in Lander County,
Nevada.
The Gold Mountain Project consists of 34 unpatented mining claims covering highly prospective ground
in the heart of Nevada’s Battle Mountain trend. Under the terms of the Agreement, Element79 Gold,
through its wholly owned subsidiary ELEM Battle Mountain LLC, has agreed to acquire all rights, title, and
interest in the Gold Mountain assets in exchange for the issuance of 100,000,000 common shares of the
Company at a deemed price of C$0.02 per share, as well as a cash payment of US$137,485.85 payable
following the closing of the Company’s next equity financing.
As part of the transaction, the Vendor will retain a 3% Net Smelter Return (NSR) royalty on all future
mineral production from the project. This arm’s length transaction is not considered a fundamental
change for the Company. No finder’s fees will be paid in conjunction with the transaction. The Company
Will ensere that all required regulatory Filings are made in regards to this transaction.
Full details of the acquisition are available in the Asset Purchase Agreement filed on SEDAR+.
James Tworek, CEO of Element79 Gold, commented:
“This acquisition marks a significant step in advancing our strategic focus in Nevada. The Gold Mountain
Project provides a drill-ready opportunity with strong geological fundamentals in one of the most prolific
gold regions in the world. Our technical team is preparing an explo ration program for later this year to
begin unlocking the value of this asset.”
About Element79 Gold Corp
Element79 Gold Corp is a mining company focused on gold and silver exploration, with a portfolio of
assets in Nevada and Peru. The Company is actively advancing its Elephant project in the Battle Mountain
trend of Nevada, as well as the drill-ready Gold Mountain project in Battle Mountain, Nevada . The
Company also holds an option to purchase the high -grade Lucero mine in southern Peru. Element79
Gold has completed the transfer of its Dale Property in Ontario to its wholly owned subsidiary, Synergy
Metals Corp., and is progressing through the Plan of Arrangement spin -out process. Element79 Gold is
listed on the Canadian Securities Exchange (CSE: ELEM), the Frankfurt Stock Exchange (FSE: 7YS0), and
the OTC Markets (OTC: ELMGF).
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Element79 Gold Corp
Investor Relations Contact:
Investor Relations Department
Email: [email protected]
Phone: +1.604.319.6953
Corporate Contact:
James C. Tworek, Chief Executive Officer and Director
Email: [email protected]
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. The use of
any of the words "anticipate," "plan," "continue," "expect," "estimate," "objective," "may," "will," "project,"
"should," "predict," "potent ial" and similar expressions are intended to identify forward- looking statements. In
particular, this press release contains forward -looking statements concerning the Company’s exploration plans,
development plans and the Force Majeure Event. Although the Company believes that the expectations and
assumptions on which the forward- looking statements are based are reasonable, undue reliance should not be
placed on these statements because the Company cannot provide assurance that they will prove correct. Forward-
looking statements involve inherent risks and uncertainties, and actual results may differ materially from those
anticipated. Factors that could cause actual results to differ include conditions in the duration of the Force Majeure
Event, and receipt of regulatory and shareholder approvals. These forward -looking statements are made as of the
date of this press release, and, except as required by law, the Company disclaims any intent or obligation to update
publicly any forward-looking statements.
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the
Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.