Element79 Gold Corp. Announces Grant of Management Cease Trade Order

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Element79 Gold Corp. Announces Grant of

Management Cease Trade Order

Vancouver, January 2, 2025 – Element79 Gold Corp. ( CSE:ELEM) (OTC:ELMGF) (FSE:7YS)

("Element79 Gold", or “the Company") announces today that due to timing delays related to changing

auditors, it has missed its filing deadline of December 30, 2024, for its audited annual financial statements

and accompanying Management's Discussion and Analysis as well as the related CEO and CFO certificates

for the year ended August 31, 202 4 (collectively, the “Annual Filings”), as required under applicable

Canadian securities laws.

In connection with the Company's inability to file the Annual Filings on time, the Company announces that

it was granted approval for a Management Cease Trade Order (“MCTO”) under National Policy 12 -203 –

Management Cease Trade Orders (“NP 12 -203”) by the British Columbia Securities Commission , as

principal regulator. The Company changed its auditor in May 2024, and as a result of audit complications

and requirements resulting from increased transaction volume experienced by the Corporation, it requires

the extension and therefore applied for the MCTO . The Company anticipates that, subject to current

conditions remaining the same, it will require approximately three additional weeks to complete the process

and will use its best efforts to complete the process within the timeline indicated.

The Company expects to file the Annual Filings as soon as they are available, but in any event no later than

January 30, 2025.

Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out

in NP 12-203. The guidelines, among other things, require the Company to issue bi -weekly default status

reports, in the form of news releases, for so long as the Annual Filings have not been filed.

During the MCTO, the general investing public will continue to be able to trade in the Company’s common

shares listed on the Canadian Securities Exchange. However, the Company’s Chief Executive Officer and

Chief Financial Officer and such other directors, officers and persons as determined by the applicable

regulatory authorities will not be able to trade in the Company’s shares, nor will the Company be able to,

directly or indirectly, issue securities to or acquire securities from an insider or employee of the Company

until such time as the Annual Filings and all continuous disclosure requirements have been filed by the

Company, and the MCTO has been lifted.

The Company confirms as of the date of this news release that there is no insolvency proceeding against

it and there is no other material information concerning the affairs of the Company that has not been

generally disclosed.

About Element79 Gold Corp.

Element79 Gold is a mining company actively exploring and developing its portfolio of assets, including

the high-grade, past-producing Lucero project in Arequipa, Peru, and properties along the Battle Mountain

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Trend in Nevada. The Company also holds an option to acquire the Dale Property in Ontario and is

advancing the Plan of Arrangement spin-out process for its wholly owned subsidiary, Synergy Metals

Corp.

For further details on this announcement and the Company’s projects, please visit www.element79.gold.

For corporate matters, please contact:

James C. Tworek, Chief Executive Officer

Email: [email protected]

For investor relations inquiries, please contact:

Investor Relations Department

Phone: +1.403.850.8050

Email: [email protected]

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.