Element79 Gold Corp. Provides Corporate Guidance and Strategic Update for Remainder of 2025
Element79 Gold Corp. Provides Corporate Guidance and Strategic Update for Remainder
of 2025
Vancouver, BC – [Date] – Element79 Gold Corp. (CSE: ELEM | FSE: 7YS0 | OTC: ELMGF)
("Element79" or the "Company") announces its forward corporate guidance for the remainder of
2025, outlines recent strategic developments regarding its Lucero Project in Peru, and reaffirms
its operational focus on its advanced-stage projects in Nevada, USA.
Force Majeure Declared on Lucero Project
The Company formally invoked the force majeure clause under its agreement with Condor
Resources Inc. with respect to the Lucero Project due to a combination of social, regulatory, and
political barriers which have effectively prevented the Company from lawfully executing planned
exploration and development activities, despite holding full mineral rights.
A force majeure event refers to unforeseen circumstances beyond a party’s control—such as acts
of government, social unrest, or natural disasters—that prevent contractual obligations from being
fulfilled. In the case of Lucero, the following factors have contributed to the declaration:
• Evolving and inconsistent Peruvian federal policies on small -scale mining
formalization, creating uncertainty in legal enforceability and timelines.
• Political instability and leadership vacuums , with current municipal governance in
Chachas in transition and the outgoing mayor largely absent from the community.
• Legacy community mistrust and unmet promises from prior owners, complicating local
engagement efforts.
• Ongoing unauthorized artisanal mining by community members operating outside legal
frameworks and without formalized agreements.
Element79 has spent two and a half years of extensive , evolving efforts to foster community
relationships and negotiate access agreements in good faith, and the Company believes in
developing a win-win solution with the Chachas community for the restart of the past-producing
Lucero mine , the tailings and development of a regional processing plant , and exploring the
geological assets inside the Lucero concessions . The Company and its contracted financial
consultants remain staunchly optimistic to fund future development at Lucero as agreements for
surface rights agreements are reached . In the short-term, internal reports and formal feedback
from its social engagement team (GAE Peru) and regional mining authorities (DREM Arequipa)
suggest that no material progress toward surface rights agreements is likely for the remainder of
2025.
Path Toward Resolution and Reworking Terms with Condor Resources
Over the next 12 months, Element79 will:
• Continue monitoring regulatory developments, particularly the anticipated implementation
of MAPE legislation , which may clarify formalization mechanisms between artisanal
miners and mineral right holders.
• Maintain social outreach campaigns in Chachas through the Company’s social
engagement team, GAE Peru, preparing the groundwork for ongoing engagement pre-
and post-municipal elections in early 2026.
• Continue ongoing dialogue with Condor Resources to explore restructuring the terms of
the original Lucero agreement, with the goal of establishing a more reasonable, flexible
and mutually beneficial framework as on-the-ground conditions allow for meaningful
work to resume at Lucero.
Strategic Focus Shift to Nevada Projects
In line with this operational pivot, Element79 is reaffirming its near -term focus on its U.S.-based
assets:
• The Company will retain and advance development at the Elephant Project in Nevada.
A technical report to formally organize historical work under the 43 -101 framework,
upcoming work plan and exploration campaign are currently being finalized and will be
publicly disclosed shortly.
• The acquisition of the Gold Mountain Project, a drill-ready asset also located in Nevada,
is expected to close as soon as possible, pending administrative timelines surrounding
Canada Day and U.S. Independence Day holidays. A comprehensive development plan
will be issued thereafter.
Corporate Outlook
As Element79 aligns its capital and human resources to near -term executable projects, the
Company remains committed to:
• Unlocking shareholder value through strategic asset optimization.
• De-risking its project portfolio by prioritizing jurisdictions with clear permitting paths.
• Continuing stakeholder engagement to support long- term success at Lucero when
conditions become viable.
• Changes to the board of directors and management to reflect the evolving business model
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 conventional 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 further information, please visit: www.element79.gold
On Behalf of the Board of Directors
James C. Tworek
Chief Executive Officer, Director
Element79 Gold Corp.
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 dur ation 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.