Element79 Provides Capitalization Update Draws From Equity Facility, and Announces Corporate Note Capital Raise
Element79 Provides Capitaliza�on Update Draws From Equity Facility, and
Announces Corporate Note Capital Raise
Non-Brokered Corporate Notes Financing for Up to CA$ 100,000
VANCOUVER, BC / THENEWSWIRE / August 31, 2023 – Element 79 Gold Corp. (CSE: ELEM)(OTC:
ELMGF)(FSE: 7YS) ( "Element 79 Gold ", the " Company") a mining company focused on gold and silver,
announces t hat it has recently leverage d its Crescita Equity Investment Facility (“Crescita Capital”), a
catalyst for the Company’s growth since the original announcement on F ebruary 3, 2022. The Company
has recently drawn CA$ 100,000 from this facilit y. In total, the Company has drawn $7,104,500 from
Crescita Equity Facility since its incep�on , using the fund ing to support its opera�ons and develop its
por�olio of mining projects, having issued an aggregate total of 34,264,945 shares to Crescita.
In addi�on to the above, Element 79 Gold has ini�ated today at market close a non-brokered financing of
up to CA$ 100,000 in the form of Corporate Note Units (the "Notes"). Each Note Unit holding a 1-year
maturity will consist of a minimum investment of $25,000. The principal amount of the Notes will bear
interest at 18% simple interest per annum (calculated not in advance) with 100% warrant coverage (each
a "Warrant"), and the Notes will be open for prepayment a�er 60 days. Each Warrant will be exercisable
into a common share (each a "Share") of the Company at a price of $0.05 per Share. As of the �me of this
news release, the Company has signed capitaliza�on commitments of the Notes for $100,000.
Proceeds from the abovemen�oned draw from Crescita Capital as well as the sale of the Notes will be
used for opera�on s, including the annual payment of Nevada project claim lease fees and the
advancement of the social contract development in Peru to allow the Lucero work plan to unfold.
About Element79 Gold Corp.
Element79 Gold is a mining company focused on gold and silver commited to maximizing shareholder
value through responsible mining prac�ces and sustainable development of its projects. Element79 Gold's
main focus is on developing its previously-producing, high-grade gold and silver mine, the Lucero project
located in Arequipa, Peru, with the intent to bring it back into produc�on in the near term; The Company
also holds a por�olio of 1 4 proper�es along the Carlin and Batle Mountain trend in Nevada, wit h the
Clover and West Whistler projects are believed to have significant poten�al for near -term resource
development. The Company has signed an op�on agreement to sell its Maverick Springs project, an
advanced-stage exploratory property with an Inferred Resource of 3.71MMoz AuE q (1.37MMoz Au and
175MMoz Ag) and an�cipates comple�ng this sale before the end of 2023. The Company con�nues to
nego�ate the sale of its non -core Nevada and Batle Mountain projects. In Bri�sh Columbia, Element79
Gold has executed a Leter of Intent and funded a drilling program to acquire a private company that holds
the op�on to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims
located in Central Bri�sh Columbia, approximately 20km west of Fort St. James. The Company also has an
op�on 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 the rest of 2023. For more informa�on about the Company, please visit
www.element79.gold
Contact Informa�on
For corporate matters, please contact:
James C. Tworek, Chief Execu�ve Officer
E-mail: [email protected]
For investor relations inquiries, please contact:
Investor Rela�ons Department
Phone: +1.613.879.9387
E-mail: [email protected]
Cau�onary Note Regarding Forward Looking Statements
This press contains "forward-looking informa�on" and "forward -looking statements" under applicable
securi�es laws (collec�vely, "forward-looking statements"). These statements relate to future events or
the Company's future performance, business prospec ts or opportuni�es that are based on forecasts of
future results, es�mates of amounts not yet determinable and assump�ons of management made in light
of management's experience and percep�on of historical trends, current condi�ons and expected future
developments. Forward-looking statements include, but are not limited to, statements with respect to:
the Company's business strategy; future planning processes; explora�on ac�vi�es; the �ming and result
of explora�on ac�vi�es; capital projects and explora�on ac�vi�es and the possible results thereof;
acquisi�on opportuni�es; and the impact of acquisi�ons, if any, on the Company. Assump�ons may prove
to be incorrect and actual results may differ materially from those an�cipated. Consequently, forward-
looking statements cannot be guaranteed. As such, investors are cau�oned not to place undue reliance
upon forward -looking statements as there can be no assurance that the plans, assump�ons or
expecta�ons upon which they are placed will occur. All statements other than statements of historical fact
may be forward-looking statements. Any statements that express or involve discussions with respect to
predic�ons, expecta�ons, beliefs, plans, projec�ons, objec�ves or future events or performance (o�en,
but not always, using words or phrases such as "seek", "an�cipate", "plan", "con�nue", "es�mate",
"expect", "may", "will", "project", "predict", "forecast", "poten�al", "target", "intend", "could", "might",
"should", "believe" and similar expre ssions) are not statements of historical fact and may be "forward-
looking statements".
Actual results may vary from forward -looking statements. Forward -looking statements are subject to
known and unknown risks, uncertain�es and other factors that may cause actual results to materially differ
from those expressed or implied by such forward -looking statements, including but not limited to: the
dura�on and effects of the coronavirus and COVID -19; risks related to the integra�on of acquisi�ons;
actual results of explora�on ac�vi�es; conclusions of economic evalua�ons; changes in project parameters
as plans c on �nue t o be r e fined; c ommodity pric es; v aria �ons in or e r es erv es, g r ade or r ec ove ry r a t es ;
actual performance of plant, equipment or processes rela�ve to specifica�ons and expecta�ons;
accidents; labour rela�ons; rela�ons with local commu ni�es; changes in na�onal or local governments;
changes in applicable legisla�on or applica�on thereof; delays in obtaining approvals or financing or in the
comple�on of development or construc�on ac�vi�es; exchange rate fluctua�ons; requirements for
addi�onal capital; government regula�on; environmental risks; reclama�on expenses; outcomes of
pending li�ga�on; limita�ons on insurance coverage as well as those factors discussed in the Company 's
other public disclosure documents, available on www.sedarplus.ca. Although the Company has atempted
to iden�fy important factors that could cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause results not to be as an�cipated,
es�mated or intended. The Company believes that the expecta�ons reflected in these forward-looking
statements are reasonable, but no assurance can be given that these expecta�ons will prove to be correct
and such forward-looking statements included herein should not be unduly relied upon. These statements
speak only as of the date hereof. The Company does not intend, and does not assume any obliga�on, to
update these forward-looking statements, except as required by applicable laws.
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.