Element79 Gold Corp.-Files year End Financials and Updates Status of MCTO
ELEMENT79 FILES YEAR END FINANCIALS AND
UPDATES STATUS OF MCTO
Vancouver – TheNewswire – February 26, 2025 – Element79 Gold Corp. (CSE:ELEM)
(OTC:ELMGF) (FSE:7YS) ("Element79 Gold", the "Company") provides an update with respect
to the previously announced Management Cease Trade Order (the "MCTO") issued by the British
Columbia Securities Commission on January 2, 2025. The Company is providing notice in accordance
with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”). The MCTO was issued
by the BCSC on January 2, 2025. It prevents the Company’s Officers, Board and Insiders from trading
in the Company’s securities but does not affect the ability of other shareholders, including the public, to
trade in the securities of the Company.
The Company confirms that as of today, the filing of the audited annual financial statements for the year
ended August 31, 2024, along with the management's discussion and analysis and related CEO and CFO
certificates (the “2024 Filings”) for the period, w hich were required to be filed on or before December
30, 2024, have been filed on February 26, 2025.
The MCTO will remain in effect until the filing of the quarterly financial statements for the three months
ended November 30, 2024, along with the management's discussion and analysis and related CEO and
CFO certificates (the “2025 Q1 Filings”) for the period, which were required to be filed on or before
January 29, 2025, will be filed on or before March 7, 2025.
As previously stated, subject to current conditions remaining the same, the Company remains confident
in its ability to complete the 2025 Q1 Filings and will make its best efforts to complete the process within
the timeline indicated.
The MCTO remains in effect until the Company files the 2025 Q1 Filings and the BCSC’s Executive
Director has revoked the MCTO. The Company confirms that since the date of the Default
Announcement, other than as described above: (a) there has been no material change to the information
set out in the Default Announcement that has not been generally disclosed; (b) there has been no failure
by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the
alternative information guidelines set out in NP 12- 203; (c) there has not been, nor is there anticipated
to be, any specified default subsequent to the default which is the subject of the Default Announcement;
and (d) there is no other material information concerning the affa irs of the Company that has not been
generally disclosed.
The Company confirms that it will continue to satisfy the provisions of the alternative information
guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for
so long as it remains delayed.
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.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking
statements” within the meaning of that phrase under applicable Canadian securities law. These statements
include, but are not limited to, statements or information concerning future work programs, results and timing
of any work programs, the Company’s performance or events as of the date hereof. These statements reflect
management’s current assumptions and expectations and by their nature are subject to certain underlying
assumptions, known and unknown risks and uncertainties and other factors which may cause actual results,
performance or events to be materially different from those expressed or implied by such forward-lookin g
statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral
deposits; the possibility that future exploration, development or mining results will not be consistent with our
expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory,
recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general
market and mining exploration risks and production and economic risks related to design and engineering,
manufacturing, technological processes and test procedures and the risk that the project’s output will not be
salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statement s
should not be construed as investment advice. Readers should conduct a detailed, independent investigation and
analysis of the Company and are encouraged to seek independent professional advice before making any
investment decision. Accordingly, readers should not place undue reliance on any forward -looking statement.
Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any
forward-looking statements to reflect events or changes in circumstances that occur after the date hereof.