ELMGF - Element79 Gold Corp Announces Corporate Update and Strategic Leadership Changes With Focus On Accelerating Nevada Asset Development
(TheNewswire)
Vancouver, BC –August 15, 2025 – TheNewswire - Element79 Gold Corp. (CSE: ELEM | FSE: 7YS0| OTC: ELMGF) (the “Company”), is a Canadianmining company focused on developing its portfolio of gold and silverprojects in Nevada and Peru, announces strategic leadership changeswhich will be effective August 31, 2025, alongside an update on itsadvancing growth strategy.
Key Highlights Discussed:
Refined Strategic Focus - Over the past year, Element79 Gold has sharpened its focuson long-term exploration and development in Nevada, anchored by theacquisition of the drill-ready Gold Mountain Project and plans to explore the Elephant Project , both located in the prolific Battle Mountain trend. Thisstrategy is designed to form the foundation for the Company’s nextphase of resource growth in one of the world’s most established golddistricts.
Advancing Lucero, Peru – Continued incubation of the high-grade Lucero Project insouthern Peru, with a mid-long-term objective of restartingexploration and production.
Leadership Transition – Effective August 31, 2025, including strategic changes toboth Management and the Company’s Board of Directors, with the goalof accelerating asset development in Nevada.
Corporate Strategy Update
Nevada
Over the past year, Element79 Gold has sharpened itsfocus on building a long-term exploration and development portfolio in Nevada ,anchored by the recent acquisition of the drill-ready Gold Mountain projectand plans to explore the Elephant project, both located in the prolific Battle Mountain trend. The Company has had success in developing projectsin this Tier 1 mining region in the past, and this refocused strategyforms the foundation for the Company’s next phase of resourcegrowth, positioning Element79 in one of the world’s most establishedgold districts. The Company currently has two projects in BattleMountain, Nevada:
Gold Mountain ,a Drill-ready asset with near-term exploration plans aimed atexpanding known mineralization and advancing toward resourcedefinition. The Company has engaged Rangefront Mining Services to prepare a NI 43-101 technical report asdisseminated on August 6, 2025, in previous news.
Elephant Located in the heart of the Battle Mountain trend, targetedfor systematic exploration to evaluate and advance its Gold, Silver,Lead and Copper potential.
The Company is currently pursuing additional high grademineral concessions in the region to add to its evolvingportfolio.
Peru
At the same time, the Company continues to incubate its high-grade Lucero Project inArequipa, Peru , preparing for the eventualrestart of exploration and production. Work in Peru is currentlyfocused on community engagement, legal and regulatory readiness, andaligning future project development for win-win outcomes with keystakeholders with an eye to the access issues being resolved in thecoming months.
Key project points for Lucero into2026:
Maintain regular communication and presence in theChachas community, anticipating a more favorable local administrationbeginning in 2026–2028 (local meetings starting at the end of August2025 will focus on the local mayoral race).
Monitor federal updates to the “systemic push”towards formalization under the former-REINFO-to-new-Ley MAPEtransition, with a key catalyst deadline of December 31, 2025,approaching.
Upon the implementation of the new formalizationregime, working with legal counsel and the community to forge surfacerights and operating agreements.
Target mobilization for on-site work in mid-2026,contingent on formalization progress and communityagreements.
Work with contractual counterparties to restructureterms, linking payments to mutually beneficial project advancement andproduction goals.
Leadership and Board Changes
Effective August 31, 2025:
James C. Tworek , Chief Executive Officer since inception, has elected tostep down from the role and continue to support the Company as aDirector.
Michael Smith ,currently Vice President, Corporate Development, will be appointedChief Executive Officer.
Neil Pettigrew will resign as Director and Qualified Person (“QP”). The Companyis grateful for Mr. Pettigrew’s investment of expertise and helpapplied through the Company’s history from inception.
Kim Kirkland ,currently Chief Operating Officer, will formally take on theCompany’s QP role and join the Board of Directors, while steppingdown from his role as COO.
Warren Levy will remain as Director and will assume the role of Chairman of theBoard.
Zara Kanji willcontinue as Director.
Outgoing CEO James C.Tworek commented:
“It has been a privilege to build, grow and lead thetalented team professionals at Element79 Gold from its private companyroots through multiple transformative milestones and successes sinceour IPO in August 2021. These changes to the Element79 Gold Corpteam make the Company nimbler while retaining expertise, intimateproject knowledge and relationships.
We are grateful for our Director, Neil Pettigrew’sleadership and expertise with the Company’s multitude of projects,and guidance through many challenges that we have faced, both beforeand since our IPO. I wish him success in his current and futureprofessional endeavors and look forward to the possibility to workwith him again.
With the Company’s recent refocus on exploration andresource development in Nevada while continuing a mid-to-long termstrategy of restarting production at Lucero in Peru, I am confidentthat Michael is the right leader to guide the current phase of growth. I remain committed to supporting the Company, helping to managestrategy, relationships and projects as a board member.”
Incoming CEO MichaelSmith added:
“I am honored and excited to take on the role of CEOduring this exciting time of refocus and development opportunityunderway at Element79 Gold Corp. Our immediate priorities lead a raisefocused on drilling Gold Mountain, developing Elephant and maintainingmomentum at Lucero in Peru. I look forward to building upon thestrong foundation laid by James and the team.”
Warren Levy, Chairman added:
“I would like to thank James and Neil for theirefforts over the years to keep Element79 moving forward, and amlooking forward to Michael taking the lead going forward. Therefocused company has an attractive portfolio and has maintainedaccess to the upside in Peru. We feel that the hard work ofpositioning the company has been well done by James and Kim, and theircontinued involvement on the board will be important to assist the newmanagement team in taking the company forward successfully.”
Qualified Person
The technical information in this release has beenreviewed and approved by Kim Kirkland, Fellow of AusIMM #309585, ChiefOperating Officer of Element79 Gold Corp, and a "qualifiedperson" as defined by National Instrument 43-101.
About Element79 Gold Corp
Element79 Gold Corp is a mining company focused on goldand silver exploration, with assets in Nevada and Peru. The Company isactively advancing its drill-ready Gold Mountain Project in Nevada’sBattle Mountain trend and holds an option to purchase the high-gradeLucero Mine in southern Peru. Element79 has transferred its DaleProperty in Ontario to its wholly owned subsidiary, Synergy MetalsCorp., and is progressing through the spin-out process. Element79 Goldis listed on the CSE (CSE: ELEM), the Frankfurt Stock Exchange (FSE:7YS0), and the OTC Markets (OTC: ELMGF).
On Behalf of the Board of Directors,
James C. Tworek, CEO, Director
Investor Relations Department
Email : investors@element79.gold
Phone : +1.604.319.6953
Corporate Contact
James Tworek, CEO, Director
Email: jt@element79.gold
Cautionary Note Regarding ForwardLooking Statements
This press release containsforward-looking statements within the meaning of applicable securitieslaws. The use of any of the words "anticipate,""plan," "continue," "expect,""estimate," "objective," "may,""will," "project," "should,""predict," "potential" and similar expressions areintended to identify forward-looking statements. This press releasecontains forward-looking statements concerning the Company’sexploration plans, development plans and the Force Majeure Event.Although the Company believes that the expectations and assumptions onwhich the forward-looking statements are based are reasonable, unduereliance should not be placed on these statements because the Companycannot provide assurance that they will prove correct. Forward-lookingstatements involve inherent risks and uncertainties, and actualresults may differ materially from those anticipated. Factors thatcould cause actual results to differ include conditions in theduration of the Force Majeure Event, and receipt of regulatory andshareholder approvals. These forward-looking statements are made as ofthe date of this press release, and, except as required by law, theCompany disclaims any intent or obligation to update publicly anyforward-looking statements.
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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