ELEM.CN · 2024-01-31 12:00:00

Element79 Provides Bi-Weekly MCTO Status Update

Listings & Exchange Regulatory & Compliance

Vancouver – TheNewswire – January 31, 2024 – Element79 Gold Corp. (CSE:ELEM)

(OTC:ELMGF) (FSE:7YS) ("Element79 Gold", the "Company") Vancouver – 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, 2024. 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, 2023. 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 it continues to work earnestly with its auditor team at

SHIM Accounting to complete the audited annual financial statements for the year ended August

31, 2023, along with the management's discussion and analysis and related CEO and CFO

certificates for the period which were required to be filed on or before December 29, 2023.

As previously stated, subject to current conditions remaining the same, the Company remains

confident in its ability to complete the 2023 Filings within the coming approximately seven to ten

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

The MCTO remains in effect until the Company files the Required Documents 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 mat erial 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 informa tion 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 affairs 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

For investor relations inquiries, please contact:

Investor Relations Department

Phone: +1 (403)850.8050

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.