ELMGF - Element79 Elevating Community Relations: Discussing Pending Formalization with Artisanal Miners and Reporting on Social Initiatives Leading to Restarting Production at Lucero
(TheNewswire)
VANCOUVER, BC / T he N ewswire / April 25, 2024 – Element79 Gold Corp. (CSE: ELEM) (OTC:ELMGF) (FSE: 7YS) ("Element79" , the "Company ") provides an update on recentsocial affairs development and ongoing initiatives with the Chachascommunity at its Lucero project.
Fostering Collaboration withArtisanal Miners
As part of Element79's ongoing efforts and community engagement, theCompany's community relations team recently organized a coordinationmeeting with artisanal miners from Lomas Doradas during the month ofApril. The meeting aimed to foster collaborative relationshipsbetween the groups, seeking mutual support as the Company endeavoursto use surface land to conduct exploration work. Moreover, the Companyalso sought exclusive agreements with artisanal miners, ensuring aunified approach to mineral extraction and resulting sale of ore.
With Element79's dedication to fostering productive relationships withall stakeholders, the Company has provided drafts of contracts for thepotential of both a community approval of 10-year surface accessrights for Element79 to access the Lucero mine site with explorationpermission for the whole concession, as well as, in reciprocalfashion, to grant the approval of the local miners to work on the minesite in defined locations over the next 10 years; among other terms,Lomas Doradas will also provide its mined product to Element79 forsubsequent resale to market. Element79 intends to use itsinstitutional and industry contacts to source optimal market pricingfor Lomas Doradas’ ore while providing a revenue stream for bothparties.
A pivotal meeting is scheduled in Chachas on April 28 th to further solidifycollaboration between the Company and Lomas Doradas, where thecommunity will vote on these initiatives in order to formalize therelationship between the two parties. Further updates on, anddetails of this key initiative will follow, pending feedback andresults of the April 28 meeting.
Community Assistance in Times ofNeed
Earlier in March, a major landslide left the Chachas communityisolated from its neighbouring annex, Nahuira. Element79's team onthe ground swiftly responded to the community's need for assistance,providing crucial support in transferring community members strandedon the other side of the landslide while it was being cleared from theroads.
Cultural Integration and TraditionalCeremony
Element79's community relation team recently participated in atraditional Water Ceremony alongside local authorities and communityleaders. This customary Chachas ceremony, involving offerings to thewater, highlights the deep-rooted cultural traditions of the Chachascommunity. The Company was honored to be involved in such a rich andculturally-steeped ritual which further showcases its commitment tomeaningful community engagement and ongoing integration.
Sustained Engagement in SocialAwareness
Site visits of the Chachas community and neighbouring annexes havecontinued since the beginning of the year, bolstering social awarenesswhile garnering support for ongoing and future exploration activities.Element79's team has engaged in internal consultations with annexleaders, receiving encouraging support for its initiatives. Inalignment with sustainable development objectives, the Companyadvocates for a progressive approach, prioritizing exploration as aprecursor to exploitation permits, aligning with the community'sinterests.
Cultivating Community Bond ThroughEducation
Finally, as part of its steadfast dedication to the long-termprosperity of the community, notably through educational empowerment,Element79 along with its engaged NGO, Unidos por el Medioambiente(UMA) was recently invited to conduct a workshop on environment,economy and society as part of an initiative with the EducationInstitute of the Chachas community. The workshop was a pivotalplatform for fostering discussions and sharing invaluable insights onthe environment, economy, and society. The event's active engagementfrom community members and stakeholders underscored Element79'scommitment to promoting knowledge-sharing and sustainable developmentwithin the Chachas community and beyond.
Image Group 1 – Images of thein-class sessions hosted by UMA, a Peruvian NGO, and Element79 GoldCorp, sharing educational themes on health and wellness, theenvironment and the economy
About Element79 Gold Corp.
Element79 Gold is a mining company focused on gold and silvercommitted to maximizing shareholder value through responsible miningpractices and sustainable development of its projects. Element79Gold's focus is on devel oping its past-producing,high-grade gold and silver mine, the Lucero project located inArequipa, Peru, with the intent to restart production in 2024.
The Company also holds a portfolio of 5 propertiesalong the Battle Mountain trend in Nevada, with the Clover and WestWhistler projects believed to have significant potential for near-termresource development. Three properties in the Battle MountainPortfolio are under contract for sale to Valdo Minerals Ltd., with ananticipated closing date in the first half of 2024. The Company hasalso signed an Option Agreement to sell the Maverick Springs project,an advanced-stage exploratory property with an Inferred Resource of3.71MMoz AuEq (1.37MMoz Au and 175MMoz Ag) (see 43-101 technicalreport titled: Amended Technical Report on the Maverick SpringsProject, Nevada, USA, by Allan Armitage, PhD., P.Geo, and RohanMillar, B.Sc. P.Geo., dated October 7, 2022, available on SEDAR) andanticipates completing this sale on or before July 21, 2024.
In British Columbia, Element79 Gold has executed aLetter 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 has an option to acquire a 100% interest in the DaleProperty, 90 unpatented mining claims located approximately 100 kmsouthwest of Timmins, Ontario, and has recently announced that it hastransferred this project to its wholly owned subsidiary, SynergyMetals Corp, and is advancing through the Plan of Arrangement spin-outprocess.
For more information about the Company, please visit www.element79.gold
Contact Information
For corporatematters, please contact:
James C. Tworek, Chief Executive Officer
E-mail: jt@element79gold.com
For investorrelations inquiries, please contact:
Investor RelationsDepartment
Phone: +1.403.850.8050
E-mail: investors@element79.gold
Cautionary Note Regarding ForwardLooking Statements
This press contains "forward?lookinginformation" and "forward-looking statements" underapplicable securities laws (collectively, "forward?lookingstatements"). These statements relate to future events or theCompany's future performance, business prospects or opportunities thatare based on forecasts of future results, estimates of amounts not yetdeterminable and assumptions of management made consideringmanagement's experience and perception of historical trends, currentconditions and expected future developments. Forward-lookingstatements include, but are not limited to, statements with respectto: the Company's business strategy; future planning processes;exploration activities; the timing and result of explorationactivities; capital projects and exploration activities and thepossible results thereof; acquisition opportunities; and the impact ofacquisitions, if any, on the Company. Assumptions may prove to beincorrect and actual results may differ materially from thoseanticipated. Consequently, forward-looking statements cannot beguaranteed. As such, investors are cautioned not to place unduereliance upon forward-looking statements as there can be no assurancethat the plans, assumptions or expectations uponwhich they are placed will occur. All statements other than statementsof historical fact may be forward?looking statements. Any statementsthat express or involve discussions with respect to predictions,expectations, beliefs, plans, projections, objectives or future eventsor performance (often, but not always, using words or phrases such as"seek", "anticipate", "plan","continue", "estimate", "expect","may", "will", "project","predict", "forecast", "potential","target", "intend", "could","might", "should", "believe" and similarexpressions) are not statements of historical fact and may be"forward?looking statements".
Actual results may vary from forward-lookingstatements. Forward-looking statements are subject to known andunknown risks, uncertainties and other factors that may cause actualresults to materially differ from those expressed or implied by suchforward-looking statements, including but not limited to: the durationand effects of the coronavirus and COVID-19; risks related to theintegration of acquisitions; actual results of exploration activities;conclusions of economic evaluations; changes in project parameters asplans continue to be refined; commodity prices; variations in orereserves, grade or recovery rates; actual performance of plant,equipment or processes relative to specifications and expectations;accidents; labour relations; relations with local communities; changesin national or local governments; changes in applicable legislation orapplication thereof; delays in obtaining approvals or financing or inthe completion of development or construction activities; exchangerate fluctuations; requirements for additional capital; governmentregulation; environmental risks; reclamation expenses; outcomes ofpending litigation; limitations on insurance coverage as well as thosefactors discussed in the Company's other public disclosure documents,available on www.sedarplus.ca . Although the Company has attempted to identify importantfactors that could cause actual results to differ materially fromthose contained in forward-looking statements, there may be otherfactors that cause results not to be as anticipated, estimated orintended. The Company believes that the expectations reflected inthese forward?looking statements are reasonable, but no assurancecan be given that these expectations will prove to be correct and suchforward?looking statements included herein should not be undulyrelied upon. These statements speak only as of the date hereof. TheCompany does not intend, and does not assume any obligation, to updatethese forward-looking statements, except as required by applicablelaws.
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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