ELMGF - Element 79 Gold Announces AGM Results

(TheNewswire)

Vancouver, B C -The N ewswire - June 20, 2023 - Element 79 Gold Corp. (CSE:ELEM) (OTC:ELMGF)(FSE:7YS) (" Element 79Gold ", the " Company ")) ispleased to announce the voting results from its Annual General Meetingof Shareholders (the "Meeting"), held on June 19,2023.

Shareholders voted in favour of all matters of businessbefore the Meeting.  Each of those matters is set out in detail inthe Management Information Circular published in connection with theMeeting, which is available on the Company's website www.element79.gold .

A total of 14,231,396  common shares, representingapproximately 13.46  of the Company's outstanding common shares, werevoted in person and by proxy at the Meeting.  Shareholders voted infavour of (a) reappointing SHIM & AssociatesLLP Chartered Professional Accountants asauditors of the Company (99.43% in favour), and (b) setting the numberof directors at four (99.87% in favour).

Election of Directors

The following nominees listed in the ManagementInformation Circular were elected as directors of the Company untilthe next annual meeting of shareholders or until the successors areelected or appointed, with the voting results being as follows:

About Element79 Gold

Element79 Gold is a mining company focused on gold,silver and associated metals and committed to maximizing shareholdervalue through responsible mining practices and sustainable developmentof its projects. Element79 Gold's main focus is on two coreproperties: developing its previously-producing, high-grade gold andsilver mine, the Lucero project located in Arequipa, Peru, with theintent to bring it back into production in the near term; and itsflagship Maverick Springs Project located in the famous gold miningdistrict of northeastern Nevada, USA, between the Elko and White PineCounties. Maverick Springs hosts a 43-101-compliant, pit-constrainedmineral resource estimate reflecting an inferred resource of 3.71million ounces of gold equivalent "AuEq" at a grade of 0.92g/t AuEq (0.34 g/t Au and 43.4 g/t Ag) with an effective date ofOctober 19, 2022. The acquisition of the Maverick Springs Project alsoincluded a portfolio of 15 properties along the Battle Mountain trendin Nevada, which are non-core to its primary business focus. InBritish Columbia, Element79 Gold has executed a Letter of Intent and funded a drilling program to acquire a privatecompany that holds the option to 100% interest of the SnowbirdHigh-Grade Gold Project, which consists of 10 mineral claims locatedin Central British Columbia, approximately 20km west of Fort St.James. The Company also has an option to acquire a 100% interest inthe Dale Property, 90 unpatented mining claims located approximately100 km southwest of Timmins, Ontario, Canada in the Timmins MiningDivision, Dale Township. The Company is analyzing the non-core Nevadaprojects, The Dale Property and Snowbird Property for further merit ofexploration, sale or spin-out.

For more information about the Company, please visit www.element79.gold

Contact Information:

James C. Tworek, Chief Executive OfficerE-mail : jt@element79gold.com

For investor relations inquiries,please contact:

Investor Relations Department –Dylan Anderson

Phone: +1 (613) 879-9387

E-mail: hello@element79gold.com

Neither the Canadian SecuritiesExchange nor the Market Regulator (as that term is defined in thepolicies of the Canadian Securities Exchange) accepts responsibilityfor the adequacy or accuracy of this release.

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