ELMGF - Element79 Gold Corp. Updates Payment to Condor
(TheNewswire)
Vancouver, BC - TheNewswire- April 11,2023 - Element79 Gold Corp. (CSE:ELEM) (OTC:ELMGF) (FSE:7YS) (" Element79 Gold ", the" Company ") Pursuant to the earlier news release on December 21, 2022 and Januaryannounces that it has made a final payment of US$200,000 to CondorResources Inc. (“Condor”). The Company became the sole owner ofCalipuy Resources Inc., (“Calipuy”), and assumed Calipuy’sobligations with respect to Calipuy’s agreement to acquire theshares of Condor’s subsidiary, Minas Lucero del Sur S.A.C., theowner of the Lucero project, Department of Arequipa, Peru. (see newsrelease of June 29, 2022)
The next payment will be due on orbefore December 21, 2023.
About Element79 Gold
Element79 Goldis a mineral exploration company focused on the acquisition,exploration and development of mining properties for gold andassociated metals. Element79 Gold has acquired its flagship MaverickSprings Project located in the famous gold mining district ofnortheastern Nevada, USA, between the Elko and White Pine Counties,where it has recently filed an amended 43-101-compliant,pit-constrained mineral resource estimate reflecting an inferredresource of 3.71 million ounces of gold equivalent* “AuEq” at agrade of 0.92 g/t AuEq (0.34 g/t Au and 43.4 g/t Ag)) with aneffective date of Oct. 19, 2022 (see news release October 20, 2022,available on SEDAR). The acquisition of the Maverick Springs Projectalso included a portfolio of 15 properties along the Battle Mountaintrend in Nevada, which the Company is analyzing for further merit ofexploration, along with the potential for sale or spin-out. In Peru,Element79 Gold holds 100% interest in the past producing Lucero Mine,one of the highest-grade underground mines to be commercially mined inPeru's history, as well as the past producing Machacala Mine. InBritish Columbia, Element79 Gold has executed a Letter of Intent toacquire a private company which holds the option to 100% interest ofthe Snowbird High-Grade Gold Project, which consists of 10 mineralclaims located in Central British Columbia, approximately 20km west ofFort St. James. The Company also has an option to acquire 100%interest in the Dale Property which consists of 90 unpatented miningclaims located approximately 100 km southwest of Timmins, Ontario,Canada in the Timmins Mining Division, Dale Township. For moreinformation about the Company, please visit www.element79.gold or www.element79gold.com .
On Behalf of the Company
James Tworek
CEO
Contact Information
Investor Relations Department
Phone: +1 (613)879-9387
E-mail: investors@element79.gold
Neither the CanadianSecurities Exchange nor its Regulation Services Provider (as that termis defined in the policies of the Canadian Securities Exchange)accepts responsibility for the adequacy or accuracy of this newsrelease.
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