ELMGF - Element79 Gold Corp Invitation to Investors: an Open AMA: Q&A Forum to share Plans for 2024 and Beyond

(TheNewswire)

VANCOUVER, BC - TheNewswire -November 23, 2023 - Element 79 Gold Corp . (CSE:ELEM) (OTC:ELMGF) (FSE:7YS) ("Element 79 Gold" or“) , a mining companyfocused on the exploration for and production of gold andsilver in Nevada and Peru, announces a uniqueinformation forum to share information on its evolved business modeland trajectory through 2024 with its shareholders and interestedinvestors.

The information format is called'AMA' = Ask Me Anything.

Management is looking for interesting andsubstantive questions and is eager to help increase understanding andawareness of its refocused business model and planned trajectorythrough 2024. Interested parties should view the Company’s CorporatePresentation .  Management’s mostrecent CorporateUpdate is also well worthattention.

The team at Element79 Gold Corp believes it embodies something quiteunique in the marketplace today, something different from the morecommon exploratory, 'shovel in the ground' or 'on-site’ miningcompany stories. Some core features that help it differentiate itselffrom the rest of the Junior Mining sector is that it has a uniqueblend of miner, explorer and, most importantly, a “closer” ofvalue-generating deals that benefit shareholders.

Shareholders and Investors are invited to send theirinquiries and questions about Element79’s business to investors@element79.gold by 4pm EST on December 1,2023 ; The appropriate ‘C- suite’ member willrespond to the questions in a video format that will be released viathe Company’s YouTube channel and other social media assets at 4pm EST on December10 .

Asa primer, investors may choose to address some of these transactionsor processes underway, outlined below:

In 2023, ELEM transitioned from aproject incubator to a production focus with sights set on bringingthe high-grade, past-producing Lucero mine back into production in2024 .

As the Company’s focus transitioned over the lastyear, the M&A newsreel has been constant:

• Lucero: the property in June2023 , received Exploration Permits in September2023 ,  and continued investment inmapping, channel sampling, and amassing data that will feed a drillprogram in 2024.  Being that it’s in small-scale production todayby the local artisanal miners, we have a production permit, itshigh-grade historical production, this is our flagshipproject.

• Machacala TransactionCancellation: In March2023 , the Company halted the Machaladeal to refocus better and conserve funds. Return of shares involvedin this transaction will be returned and cancelled before the end of2023.

• Centra Sale: Two Nevada projects were sold to Centra for CAD 1,000,000 in stock in May2023 . Centra is completing its 43-101on the Long Peak property and commencing final filings for its ownIPO. Once Element79 receives these shares and they trade freely, theCompany will manage its holdings strategically for corporate growthand investment into operational budgets.

• Valdo Sale: TheCompany also selling three Nevada projects to Valdo Minerals for CAD1,250,000 in stock through a deal announced in November2022 and extended in May2023 . Valdo has a similar businesstrajectory as Centra, with the timeline staggered by approximately 9months, and the Company will strategically similarly manage theseshares as those from Centra.

• Dale Spinout: In July2023 , we transferred the DaleProperty to Synergy Metals Corp. Synergy has sourced a CAD $200,000loan to complete Plan of Arrangement “spin-out" process; Thisprocess has been delayed from its original timing due to legalprocesses and the company will be providing further progress updatesin December 2023.

• Snowbird Project : Currently under negotiations with Plutus for future projectadvancements.

• Maverick Springs: The sale Option was initially contracted on August31 , and an extension was announced on October23 with an ultimate completionanticipated on or before the end of March 2024.  The counterpartycontinues to complete the steps required relative to their own listingprocess.

• Upcoming Special Shareholder Meeting: For investors that held shares as of market close on November 6, 2023, there will be a Special Shareholder Meeting on December 19, 2023 that will includevoting on two major initiatives that pose to clean up the Company’sbalance sheet dramatically:

  • A Share-For-Debt conversion of upto CAD $3,750,000

  • A notable conversion of a CAD$2,000,000 loan into shares of the Company

Element79 Gold Corp’s Management and Board has alwaysbelieved strongly in ensuring open communication its investors andstakeholders.  As the Company has recently pivoted from one businessmodel to another (asset amalgamation to ramping up to production),seizing what is believes will become a significant value-creation andupside opportunity, ELEM’s team has been speaking on a one-off basiswith many of its community to ensure that everyone understands thevalue levers that the Company believes are at hand.  The design ofthis AMA session is to clarify perspectives or misconceptions that mayexist.  Element79 Gold Corp’s Management teambelieves you will find Element79 worth getting to know for itsprojects, business acumen and investor openness, poised to capitalizeon what appears to be a very buoyant gold market coming in 2024 andbeyond.

About Element79Gold Corp.

Element79 Goldis a mining company focused on gold and silver committed to maximizingshareholder value through responsible mining practices and sustainabledevelopment of its projects.  Element79 Gold's focus is on developingits past-producing, high-grade gold and silver mine, the Luceroproject located in Arequipa, Peru, with the intent to restartproduction in the near term.

The Company alsoholds a portfolio of 5 properties along the Battle Mountain trend inNevada, with the Clover and West Whistler projects believed to havesignificant potential for near-term resource development. Threeproperties in the Battle Mountain Portfolio are under contract forsale to Valdo Minerals Ltd., with an anticipated closing date aroundthe end of Q1/2024.  The Company has also signed an Option Agreementto sell the Maverick Springs project, an advanced-stage exploratoryproperty with an Inferred Resource of 3.71MMoz AuEq (1.37MMoz Au and175MMoz Ag) and anticipates completing this sale on or before March28, 2024.

In BritishColumbia, Element79 Gold has executed a Letter of Intent and funded adrilling program to acquire a private company that holds the option to100% interest of the Snowbird High-Grade Gold Project, which consistsof 10 mineral claims located in Central British Columbia,approximately 20km west of Fort St. James.

The Company hasan option to acquire a 100% interest in the Dale Property, 90unpatented mining claims located approximately 100 km southwest ofTimmins, Ontario, and has recently announced that it has transferredthis project to its wholly-owned subsidiary, Synergy Metals Corp, andis advancing through the Plan of Arrangement spin-out process throughQ1 2023.

For moreinformation about the company please visit our official website at www.element79gold.com .

The Company’s2023 review and Corporate Update can be reviewed HERE.

ContactInformation

For corporatematters, please contact:

James C. Tworek,Chief Executive Officer and Director

E-mail: jt@element79gold.com

For investorrelations inquiries, please contact:

InvestorRelations Department

Phone:+1.613.879.9387

E-mail: investors@element79.gold

Cautionary NoteRegarding Forward Looking Statements

This pressrelease contains "forward?looking information" and"forward-looking statements" under applicable securitieslaws (collectively, "forward?looking statements"). Thesestatements relate to future events or the Company's futureperformance, business prospects or opportunities that are based onforecasts of future results, estimates of amounts not yet determinableand assumptions of management made in light of management's experienceand perception of historical trends, current conditions and expectedfuture developments. Forward-looking statements include, but are notlimited to, statements with respect to: the Company's businessstrategy; future planning processes; exploration activities; the timing andresult of exploration activities; capital projects and explorationactivities and the possible results thereof; acquisitionopportunities; and the impact of acquisitions, if any, on the Company.Assumptions may prove to be incorrect and actual results may differmaterially from those anticipated. Consequently, forward-lookingstatements cannot be guaranteed. As such, investors are cautioned notto place undue reliance upon forward-looking statements as there canbe no assurance that the plans, assumptions or expectations upon whichthey are placed will occur. All statements other than statements ofhistorical 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 resultsmay vary from forward-looking statements. Forward-looking statementsare subject to known and unknown risks, uncertainties and otherfactors that may cause actual results to materially differ from thoseexpressed or implied by such forward-looking statements, including butnot limited to: risks related to the integration of acquisitions;actual results of exploration activities; conclusions of economicevaluations; changes in project parameters as plans continue to berefined; commodity prices; variations in ore reserves, grade orrecovery rates; actual performance of plant, equipment or processesrelative to specifications and expectations; accidents; labourrelations; relations with local communities; changes in national orlocal governments; changes in applicable legislation or applicationthereof; delays in obtaining approvals or financing or in thecompletion of development or construction activities; exchange ratefluctuations; 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.com . Although the Companyhas attempted to identify important factors that could cause actualresults to differ materially from those contained in forward-lookingstatements, there may be other factors that cause results not to be asanticipated, estimated or intended. The Company believes that theexpectations reflected in these forward?looking statements arereasonable, but no assurance can be given that these expectations willprove to be correct and such forward?looking statements includedherein should not be unduly relied upon. These statements speak onlyas of the date hereof. The Company does not intend, and does notassume any obligation, to update these forward-looking statements,except as required by applicable laws.

Neither theCanadian Securities Exchange nor the Market Regulator (as that term isdefined in the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy or accuracy of this release.

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