Element79 Gold Corp Announces Non Brokered Private Placement Financing
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
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Element79 Gold Corp Announces Non Brokered Private Placement Financing
VANCOUVER, BC – The Newswire – December 19, 2023 – Element 79 Gold Corp. (CSE: ELEM) (OTC: ELMGF)
(FSE:7YS) ("Element 79 Gold" or “ (ELEM) an exploration company, announces that, subject to Canadian
Securities Exchange ("CSE") approval, the Company will raise up to $600,000 through a non-brokered private
placement (the “Financing”). The financing will consist of an aggregate of up to 5,309,734 Common shares
offered at a price of $0.113 per share.
The principal use of the proceeds of the Offering will be for funding ongoing exploration work, operating and
administrative expenses, working capital and general corporate purposes.
In accordance with applicable Canadian securities laws, all securities issued pursuant to the private
placement will be legended with a hold period of four months and one day from the date of issuance.
The securities of the Company referred to in this press release have not been and will not be registered under
the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws.
Accordingly, the securities of the Company may not be offered or sold within the United States unless
registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption
from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press
release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company
in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Element79 Gold Corp.
Element79 Gold is a mining company focused on gold and silver committed to maximizing shareholder value through
responsible mining practices and sustainable development of its projects. Element79 Gold's focus is on developing its past-
producing, high -grade gold and silver mine, the Lucero project located in A requipa, Peru, with the intent to restart
production in the near term.
The Company also holds a portfolio of 5 properties along the Battle Mountain trend in Nevada, with the Clover and West
Whistler projects believed to have significant potential for near-term resource development. Three properties in the Battle
Mountain Portfolio are under contract for sale to Valdo Minerals Ltd., with an anticipated closing date around the end of
Q1/2024. The Company has also signed an Option Agreement to sell the Maverick Springs project, an advanced -stage
exploratory property with an Infe rred Resource of 3.71MMoz AuEq (1.37MMoz Au and 175MMoz Ag) and anticipates
completing this sale on or before March 28, 2024.
In British Columbia, Element79 Gold has executed a Letter of Intent and funded a drilling program to acquire a private
company that holds the option to 100% interest of the Snowbird High -Grade Gold Project, which consists of 10 mineral
claims located in Central British Columbia, approximately 20km west of Fort St. James.
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The Company has an option 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 through
Q1 2023.
For more information about the company please visit our official website at www.element79gold.com
The Company’s 2023 review and Corporate Update can be reviewed HERE.
Contact Information
For corporate matters, please contact:
James C. Tworek, Chief Executive Officer and Director
E-mail: [email protected]
For investor relations inquiries, please contact:
Investor Relations Department
Phone: +1.403.850.8050
E-mail: [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.
Cautionary Note Regarding Forward Looking Statements
Certain statements and information herein, including all statements that are not historical facts, contain forward- looking
statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or
information include but are not limited to statements or information with respect to: the terms and conditions of the Offering; the
closing date for the Offering; and anticipated use of net proceeds from the Offering, including any advancement of exploratio n
work on the Company’s projects. Often, but not always, forward-looking statements or information can be identified by the use of
words such as "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative
of these words or such variations thereon or comparable terminology are intended to identify forward -looking statements and
information. With respect to forward- looking statements and information contained herein, Element79 has made numerous
assumptions including among other things, assumptions about general business and economic conditions and the price of gold and
other minerals. The foregoing list of assumptions is not exhaustive.