ELEM.CN · 2023-02-10 12:00:00

Element79 Provides MCTO Status Update

Listings & Exchange Regulatory & Compliance

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Vancouver February 10, 2023 – Element79 Gold Corp. (CSE:ELEM) (OTC:ELMGF) (FSE:7YS)

(ʺElement79 Goldʺ, the ʺCompanyʺ) is pleased to announce that it has filed its annual financial statements

for the fiscal year ended August 31, 2022 and the interim financial statements for the three months

ended November 30, 2022 (together, the ʺ Financial Statementsʺ), related management discussion and

analysis (together, the ʺMD&Aʺ) and officer certificates on www.sedar.com, as required by the applicable

Canadian Securities laws.

The Company previously announced the management cease trade order (ʺMCTOʺ) issued by the British

Columbia Securities Commission (ʺBCSCʺ) on January 4, 2023. The MCTO was issued in connection with

the filing of the Companyʹs audited annual financial statements for the year ended August 31, 2022 and the

related managementʹs discussion and analysis (ʺMD&Aʺ) and certifications. Upon the filing of the

Financial Statements, the Company believes that it has satisfied the conditions of the BCSC in order to have

the MCTO lifted.

For corporate matters, please contact:

James C. Tworek, Chief Executive Officer

For investor relations inquiries, please contact:

Investor Relations Department

Phone: +1 (604) 200‐3608

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Certain information contained herein may constitute “forward‐looking information” under Canadian securities

legislation. Generally, forward‐looking information can be identified by the use of forward‐looking terminology such

as “expects”, “anticipates”, “will be”, “intends” or variations of such words and phrases or statements that certain

actions, events, or results “will” occur. Forward‐looking statements regarding the Company and its business and

strategies are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and

other factors that may cause the actual results, level of activity, performance or achievements of the Company and

its subsidiaries to be materially different from those expressed or implied by such forward‐looking statements or

forward‐looking information, including capital expenditures and other costs. There can be no assurance that such

statements will prove to be accurate, as actual results and future events could differ materially from those anticipated

in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements and

forward‐looking information. The Company will not update any forward‐looking statements or forward‐looking

information that are incorporated by reference herein, except as required by applicable securities laws