Element79 Gold Announces Notice of Force Majeure on Lucero Project

Element79 Gold Announces Notice of Force Majeure on Lucero Project

VANCOUVER, BC – June 2 7, 2025 – Element79 Gold Corp. (CSE: ELEM | FSE: 7YS0 | OTC: ELMGF)

("Element79 Gold", the "Company ") today announced that it has provided a notice of force majeure

(“Notice”) to Condor Resources Inc. (“ Condor”) to temporarily suspend payment obligations under the

Lucero Project Agreement entered into b etween Calipuy Resources Inc. (“Calipuy”), a wholly owned

subsidiary of the Company, and Condor on December 21, 2020 (the “Lucero Agreement”).

The Company has faced significant difficulties in advancing the Lucero Project since the acquisition of

Calipuy on June 19, 2022. As a result of conflicts with the local community , significant delays of relevant

governmental authorities to act on necessary legislation and policies, and municipal inaction preventing

the enforcement of mineral claims, Element79 has been unable to access the Lucero Project and perform

exploration or commercial mining operations (“ Force Majeure Event”). As such, the Company provided

the Notice to Condor today to suspend payment obligations until the sooner of the end of the Force

Majeure Event or twenty -f o u r ( 2 4 ) m o n t h s f r o m t h e d a t e o f t h e N o ti c e . At this time, the Company is

uncertain as to when the Force Majeure Event will cease.

Element79 remains committed to advancing the Lucero Project and developing the Lucero Project into a

commercially viable mining operation. The Company is currently in the process of pursuing alternatives to

push the Project forward and work collaboratively with stakeholders to end the Force Majeure Event. The

Company will continue to update stakeholders as the situation develops, as and when appropriate.

About Element79 Gold Corp.

Element79 Gold Corp. is a mining company focused on the exploration and development of high -grade

gold and silver assets. Its principal asset is the past -producing Lucero Project in Arequipa, Peru, where it

aims to resume operations through both convention al mining and tailings reprocessing. In the United

States, the Company holds interests in multiple projects along Nevada's Battle Mountain Trend.

Additionally, 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.

For more information about the Company, please visit www.element79.gold

For Further Information, Please Contact:

James C. Tworek

Chief Executive Officer

E-mail: [email protected]

Investor Relations Department

Phone: +1 (403.850.8050

E-mail: [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," "potential" 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.