ELMGF - Element79 Gold Corp Continues Fostering Local Community Engagement
(TheNewswire)
Advancing Engagement, Exploration andExploitation Agreements
VANCOUVER, BC / T heNewswire / JUNE 4, 2024 – Element79 Gold Corp. (CSE: ELEM) (OTC:ELMGF) (FSE: 7YS0) ("Element79" , the "Company ") provides further updates on its community relations initiatives andongoing exploration and exploitation agreements progress with localcommunities.
Element79 continues to foster strong relationships with thecommunities it operates in and around, balancing sustainabledevelopment of both its projects as well as helping the surroundingpopulations. Recent meetings have reaffirmed the overall support forthe Company’s desire to develop and ramp up to production at Lucero,beginning with the current pending long-term agreements for surfacerights access.
As outlined in the Company’s news release from April 25 th ,and in online conferences or interviews since the last reporting, theChachas community had a new mayor come into effect in the firstquarter of 2024, with the transition from the old administrationrequiring a ratification of the Community’s Charter prior to anyfurther agreements could be legally bound. The maximum timeline thatthe Community has allotted for its Charter to be ratified is July 28,2024. The seven towns that make up the greater Chachas community areactively engaged in discussions and processes around the Charter,recognizing this is critical for advancing other initiatives withinthe community itself, as well as providing for regional miningbusiness to restart.
Two agreements are currently under review by the Chachas Community andLomas Doradas mining association: The first includes the Companyobtaining approval of 10-15 years of surface rights access forexploration and exploitation, while in turn, a second cooperationagreement from the Company to Lomas Doradas is being considered toprovide the local mining association small scale mining rights atLucero for a similar term.
The Company confirms that its discussions with Lomas Doradas toformalize cooperation agreements are advancing positively. Onaverage, 120 artisanal miners from the Lomas Doradas community work inmineral extraction at Lucero throughout the year. The cooperationagreements will ensure a unified and coordinated approach to mineralextraction and the associated ore mined by Lomas Doradas will be soldto Element79, to then resell.
Element79 Gold Corp continues to maintain a presence in the communityfor social outreach and communication, with its team touring betweenthe remote towns that make up Chachas, helping and gaining a greaterunderstanding of the unique perspectives, concerns and opportunitiesfor cooperation in each location. During May, the team recently hadthe privilege to be invited to participate in a Vicuña Shearingceremony, further highlighting the growing relationship with localcommunities. This sustainable practice celebrates the collection ofvicuña wool, one of the world's most valuable fibers.
The Company continues to prioritize sustainable developmentinitiatives, including ongoing social awareness efforts to inform thecommunity about the positive impacts anticipated from the project andthe work that will be carried out, along with responsible practicesthat will be implemented.
Element79 remains dedicated to advancing its shareholder’s interestthrough value creation, sustainable development and communityempowerment where it operates. Further updates on these importantcontracts and other social developments will be provided in duecourse.
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 holds 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@element79.gold
For investorrelations inquiries, please contact:
Investor RelationsDepartment
Phone: +1.403.850.8050
E-mail: investors@element79.gold
Cautionary Note RegardingForward-Looking 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 upon which they are placedwill occur. All statements other than statements of historical factmay be forward?looking statements. Any statements that express orinvolve discussions with respect to predictions, expectations,beliefs, plans, projections, objectives or future events orperformance (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 ofexploration activities; conclusions of economic evaluations; changesin project parameters as plans continue to be refined; commodityprices; variations in ore reserves, grade or recovery rates; actualperformance of plant, equipment or processes relative tospecifications and expectations; accidents; labour relations;relations with local communities; changes in national or localgovernments; changes in applicable legislation or application thereof;delays in obtaining approvals or financing or in the completion ofdevelopment or construction activities; exchange rate fluctuations;requirements for additional capital; government regulation;environmental risks; reclamation expenses; outcomes of pendinglitigation; limitations on insurance coverage as well as those factorsdiscussed 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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