Element79 Gold Corp. Provides Update on Chachas General Assembly
Element79 Gold Corp. Provides Update on Chachas General Assembly
Vancouver, British Columbia – April 17, 2024 – Element79 Gold Corp. (CSE: ELEM | FSE: 7YS0
| OTC: ELMGF, the “Company”) herein provides an update on the latest community engagement and
ongoing development efforts in the Rural Community of Chachas (“Chachas”) for its Minas Lucero
Project in Arequipa, Peru.
Multi-Stakeholder Meeting in the Chachas on April 12th
As previously outlined in the Company’s news release of March 28, 2025, the Spring General Assembly
Meeting took place on April 12, 2025, where Element79 Gold Corp ’s community relationship
development team, GAE Peru, was able to present and discuss upcoming exploration, mill and tailings
reprocessing plant development plans, which begin with the completion of long-term surface agreements
and Formalization of existing REINFO small-scale mining permits with the Company’s mineral leases.
These surface rights access contracts , for the Company and all other mining groups working in the
Chachas region negotiated and signed with the Chachas community.
Element79 Gold Corp’s message and dialogue around collaborative work plans and win -win solutions
with the community were once again reiterated and were generally well received; in many cases where
there were inquiries or debates around the Company’s involvement, it is reported that both the greater
community and its leaders reinforced and defended the Company’s platform and the benefit of
developing a constructive and long-term working relationship together. Dissention against the Company
and its plans came primarily from a radical faction of the local artisanal miner’s group, Lomas Doradas,
where emphatic conversations were drawn out for hours both during and after the General Assembly.
Due to these disruptions, no formal agreement for either Element79 Gold Corp or Lomas Doradas was
reached at the General Assembly.
The Chachas community leaders and JAL (Junta Administrativa Local, or local community
administration board) have agreed to meet again outside of the General Assembly to formally during the
week of April 21. The Company will provide further updates and action items in due course following
these upcoming meetings.
Commitment to Responsible Mining
Element79 Gold Corp. remains dedicated to transparent dialogue, responsible community and
resource development, and long-term profitable and mutually beneficial community partnerships.
The Company will continue to provide updates as these initiatives progress.
Evaluating Options
The Company upholds that the Lucero project continues to host significant exploration and production
merit as well as it continues to develop increasingly strong community relationships for long- term
success.
Due to the ongoing difficulties and delays experienced over the past 15 months , the Company’s
management and Board of Directors has elected to put Lucero and adjacent projects into a period of
review, where with its team and trusted consultants , will evaluate the best ways to proceed with the
Lucero project in order to maximize shareholder value.
The Company continues to review near -term producing mining assets in Peru and South America for
additional growth opportunities and will provide further guidance on these in due course.
About Element79 Gold Corp.
Element79 Gold Corp. is a mining company focused on exploring and developing its past -producing,
high-grade gold and silver project, Lucero , located in Chachas, Arequipa, Peru. The Company is
committed to advancing responsible mining practices and maintaining strong relationships with local
communities to support sustainable development.
The Company also holds several exploration projects along Nevada’s Battle Mountain trend, a region
renowned for prolific gold production, and these assets are under contract for sale in the first half of
2025. Additionally, Element79 has recently transfer red its Dale Property in Ontario to its subsidiary,
Synergy Metals Corp., as part of a spin-out process.
For further information, please visit our website at 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.
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- looking
statements. Those risks inc lude 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 statements
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.