Element79 Elevating Community Relations: Discussing Pending Formalization With Artisanal Miners

Element79 Eleva�ng Community Rela�ons: Discussing Pending

Formaliza�on With Ar�sanal Miners and Repor�ng on Social

Ini�a�ves Leading to Restar�ng Produc�on at Lucero

VANCOUVER, BC / TheNewswire / April 25, 2024 – Element79 Gold Corp. (CSE: ELEM) (OTC: ELMGF)

(FSE: 7YS) ("Element79", the "Company") provides an update on recent social affairs development and

ongoing ini�a�ves with the Chachas community, leading to restar�ng produc�on at the Lucero mine.

Fostering Collabora�on with Ar�sanal Miners

As part of Element79's ongoing efforts and community engagement, the Company's community rela�ons

team recently organized a coordina�on mee�ng with ar�sanal miners from Lomas Doradas during the

month of April . The mee�ng aimed to foster collabora�ve rela�onships between the groups , seeking

mutual support as the Company endeavours to use surface land to conduct explora�on work. Moreover,

the Company also sought exclusive agreements with ar�sanal miners, ensuring a unified approach to

mineral extrac�on and resul�ng sale of ore.

With Element79's dedica�on to fostering produc�ve rela�onships with all stakeholders, the Company has

provided dra�s of contracts for the poten�al of both a community approval of 10 -year surface access

rights for Element79 to access the Lucero mine site with explora�on permission for the whole concession,

as well as , in reciprocal fashion, to grant the approval of the loca l miners to work on the mine site in

defined loca�ons over the next 10 years; among other terms, Lomas Doradas will also provide its mined

product to Element79 for subsequent resale to market . Element79 intends to use its ins�tu�onal and

industry contacts to source op�mal market pricing for Lomas Doradas’ ore while providing a revenue

stream for both par�es.

A pivotal mee�ng is scheduled in Chachas on April 28 th to further solidify collabora�on between the

Company and Lomas Doradas, where the community will vote on these ini�a�ves in order to formalize the

rela�onship between the two par�es . Further updates on, and details of this key ini�a�ve will follow,

pending feedback and results of the April 28 mee�ng.

Community Assistance in Times of Need

Earlier in March, a major landslide le� the Chachas community isolated from its neighbouring annex,

Nahuira. Element79's team on the ground swi�ly responded to the community 's need for assistance,

providing crucial support in transferring community members stranded on the other side of the landslide

while it was being cleared from the roads.

Cultural Integra�on and Tradi�onal Ceremony

Element79's community rela�on team recently par�cipated in a tradi�onal Water Ceremony alongside

local authori�es and community leaders. This customary Chacha s ceremony, involving offerings to the

water, highlights the deep -rooted cultural tradi�ons of the Chachas community. The Company was

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honored to be involved in such a rich and culturally -steeped ritual which further showcases its

commitment to meaningful community engagement and ongoing integra�on.

Sustained Engagement in Social Awareness

Site visits of the Chachas community and neighbouring annexes have con�nued since the beginning of the

year, bolstering social awareness while garnering support for ongoing and future explora�on ac�vi�es.

Element79's team has engaged in internal consulta�ons with annex leaders, receiving encouraging

support for its ini�a�ves. In alignment with sustainable development objec�ves, the Company advocates

for a progressive approach, priori�zing explora�on as a precur sor to exploita�on permits, aligning with

the community's interests.

Cul�va�ng Community Bond Through Educa�on

Finally, as part of its steadfast dedica�on to the long-term prosperity of the community, notably through

educa�onal empowerment, Element79 along with its engaged NGO, Unidos por el Medioambiente (UMA)

was recently invited to conduct a workshop on environment, economy and society as part of an ini�a�ve

with the Educa�on Ins�tute of the Chachas community. The workshop was a pivotal pla�orm for fostering

discussions and sharing invaluable insights on the environment, economy, and society. The event's ac�ve

engagement from community members and stakeholders underscored Element79's commitment to

promo�ng knowledge-sharing and sustainable development within the Chachas community and beyond.

Image Group 1 – Images of the in-class sessions hosted by UMA, a Peruvian NGO, and Element79 Gold

Corp, sharing educa�onal themes on health and wellness, the environment and the economy

About Element79 Gold Corp.

Element79 Gold is a mining company focused on gold and silver commited to maximizing shareholder

value through responsible mining prac�ces and sustainable development of its projects. Element79 Gold's

focus is on devel oping its past-producing, high-grade gold and silver mine, the Lucero project located in

Arequipa, Peru, with the intent to restart produc�on in 2024.

The Company also holds a por�olio of 5 proper�es along the Batle Mountain trend in Nevada, with the

Clover and West Whistler projects believed to have significant poten�al for near -term resource

development. Three proper�es in the Batle Mountain Por� olio are under contract for sale to Valdo

Minerals Ltd., with an an�cipated closing date in the first half of 2024. The Company has also signed an

Op�on Agreement to sell the Maverick Springs project, an advanced -stage exploratory property with an

Inferred Resource of 3.71MMoz AuEq (1.37MMoz Au and 175MMoz Ag) (see 43-101 technical report

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�tled: Amended Technical Report on the Maverick Springs Project, Nevada, USA, by Allan Armitage, PhD.,

P .Geo, and Rohan Millar, B.Sc. P .Geo., dated October 7, 2022, available on SEDAR) and an�cipates

comple�ng this sale on or before July 21, 2024.

In Bri�sh Columbia, Element79 Gold has executed a Leter of Intent and funded a drilling program to

acquire a private company that holds the op�on to 100% interest of the Snowbird High-Grade Gold Project,

which consists of 10 mineral claims located in Central Bri�sh Columbia, approximately 20km west of Fort

St. James.

The Company has an op�on to acquire a 100% interest in the Dale Property, 90 unpatented mining claims

located approximately 100 km southwest of Timmins, Ontario, and has recently announced that it has

transferred this project to its wholly owned subsidiary, Synergy Metals Corp, and is advancing through the

Plan of Arrangement spin-out process.

For more informa�on about the Company, please visit www.element79.gold

Contact Informa�on

For corporate matters, please contact:

James C. Tworek, Chief Execu�ve Officer

E-mail: [email protected]

For investor relations inquiries, please contact:

Investor Rela�ons Department

Phone: +1.403.850.8050

E-mail: [email protected]

Cau�onary Note Regarding Forward Looking Statements

This press contains "forward-looking informa�on" and "forward -looking statements" under applicable

securi�es laws (collec�vely, "forward-looking statements"). These statements relate to future events or

the Company's future performance, business prospec ts or opportuni�es that are based on forecasts of

future results, es�mates of amounts not yet determinable and assump�ons of management made

considering management's experience and percep�on of historical trends, current condi�ons and

expected future developments. Forward-looking statements include, but are not limited to, statements

with respect to: the Company's business strategy; future planning processes; explora�on ac�vi�es; the

�ming and result of explora�on ac�vi�es; capital projects and explora�on ac�vi�es and the possible

results thereof; acquisi�on opportuni�es; and the impact of acquisi�ons, if any, on the Company.

Assump�ons may prove to be incorrect and actual results may differ materially from those an�cipated.

Consequently, forward-looking statements cannot be guaranteed. As such, investors are cau�oned not to

place undue reliance upon forward-looking statements as there can be no assurance that the plans,

assump�ons or expecta�ons upon which they are placed will occur. All statements other than statements

of historical fact may be forward-looking statements. Any statements that express or involve discussions

with respect to predic�ons, expecta�ons, beliefs, plans, projec�ons, objec�ves or future events or

performance (o�en, but not always, using words or phrases such as "seek", "an�cipate", "plan",

"con�nue", "es�mate", "expect", "may", "will", "project", "predict", "forecast", "poten�al", "target",

"intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical

fact and may be "forward-looking statements".

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Actual results may vary from forward -looking statements. Forward -looking statements are subject to

known and unknown risks, uncertain�es and other factors that may cause actual results to materially differ

from those expressed or implied by such forward -looking statements, including but not limited to: the

dura�on and effects of the coronavirus and COVID -19; risks related to the integra�on of acquisi�ons;

actual results of explora�on ac�vi�es; conclusions of economic evalua�ons; changes in project parameters

as plans con�nue to be refined; commodity prices; varia�ons in ore reserves, grade or recovery rates;

actual performance of plant, equipment or processes rela�ve to specifica�ons and expecta�ons;

accidents; labour rela�ons; rela�ons with local communi�es; changes in na�onal or local governments;

changes in applicable legisla�on or applica�on thereof; delays in obtaining approvals or financing or in the

comple�on of development or construc�on ac�vi�es; exchange rate fluctua�ons; req uirements for

addi�onal capital; government regula�on; environmental risks; reclama�on expenses; outcomes of

pending li�ga�on; limita�ons on insurance coverage as well as those factors discussed in the Company's

other public disclosure documents, available on www.sedarplus.ca. Although the Company has atempted

to iden�fy important factors that could cause actual results to differ materially from those contained in

forward-l o o k i n g s t a t e m e n t s , t h e r e m a y b e o t h e r f a c t o r s t h a t c a u s e r e s u l t s n o t t o b e a s a n � c i p a t e d ,

es�mated or intended. The Company believes that the expecta�ons reflected in these forward-looking

statements are reasonable, but no assurance can be given that these expecta�ons will prove to be correct

and such forward-looking statements included herein should not be unduly relied upon. These statements

speak only as of the date hereof. The Company does not intend, and does not assume any obliga� on, to

update these forward-looking statements, except as required by applicable laws.

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.