ELMGF - Element79 Gold To Provide Summary and Update on Active Exploration Program Community Relations at RMEC on June 4

(TheNewswire)

• RMEC Presentation on June 4, 11:00a.m. ET - Sign up here

• Lucero Exploration Program - Mostrecent channel sampling with 455 samples returned exceptionallyhigh-grade results

• Ongoing community relations work withChachas Community – updates on progress and timing for completion ofsocial contract

VANCOUVER, BC – TheNewswire - May 30, 2024 – Element79 Gold Corp. (CSE: ELEM) (OTC:ELMGF) (FSE: 7YS0) ("Element79" , the "Company ") is pleased to announce it will be presenting at the virtual ResourceMining & Exploration Conference ("RMEC"), an eventhosted by Sagacity Capital Media and Guerilla Capital, on Tuesday,June 4, 2024 at 11:00 a.m. ET.

Element79 CEO, James Tworek, will provide a summary of the Company'srecent exploration program results, discuss the importance ofcommunity relations in advancing mining projects, and present upcomingcatalysts for 2024 and beyond. RMEC, is a unique virtual investorconference series, offering an interactive experience for featuredcompanies and investors. Companies will have 20 minutes to outlinetheir investment opportunity before investors get the ability toengage in a real-time Q&A with management after the presentation.To register for RMEC, please click the link:

RMECSIGN UP

Click Image To View Full Size About RMEC

RMEC (Resource Mining & Exploration Conference) is a uniquevirtual investor conference. The goal is to expose new investors, aswell as our global network of retail and institutional investors, tovetted Exploration & Mining opportunities. The number of companiesis limited, and the content is curated with investor time and interestbeing paramount. While not exhaustive by design, the RMEC aims topresent potential investments to new and seasoned resource investorsby presenting highlights for further research.

Each participating company hosts a live presentation followed by aQ&A period within approximately a 40-minute slot. The goal is tohelp investors learn about the junior companies that are shaping thefuture of the Global Resource Sector within a responsive and pressurefree environment.

RMEC will present up to six junior exploration and near-term producingcompanies, as they seek to discover the next world-class mines.Investors can get more details about RMEC at www.rmeconferences.com .

Lucero Exploration Program Summaryand Update

Element79 is also pleased to provide a summary of its most recentchannel sampling on the Company's flagship property, Lucero, Peru. A total of 455 samples, representing more than a metricton of mineralization and wall rock, underwent comprehensive analysis,revealing significant exploration potential. Notably, 115 samplesreturned substantial values, with gold (Au) ranging from 1.0 g/t to98.1 g/t, silver (Ag) ranging from 0.7 g/t to 3,026 g/t, lead (Pb) upto 2.0%, and zinc (Zn) up to 3.5%, showcasing the strong mineralpotential of the Lucero project.

Among these, 17 samples exhibited gold valuessurpassing 10g/t, with 8 samples exceeding 20 g/t, and 51 samplesboasting silver values exceeding 100 g/t Ag. Of particularsignificance are 15 high-grade samples with values rangingfrom 12.65g/t to animpressive 98.1g/t of Au , andremarkable silver values of 62.1 g/t to 3,026g/t and up to 3.24% Zn , reaffirming the project's exceptional potential forhigh-grade mineralization.

The latest assay data further positions Element79 forstrategic advancement, successfully transforming exploration work intopivotal milestones and underscoring the tangible promise and potentialof the Lucero project. Importantly, th e datawill be the foundation for the Company's upcoming drill plans andresource estimation.

Ongoing Progress in ChachasCommunity

With its focus on growing its relationships with thecommunities it works in, the Element79 Gold Corp team along with itsNGO partner UMA, continue to work monthly in the greater Chachasregion, sharing, listening, educating and helping residents andleaders, working between the seven different hamlets that make up thegreater community.  As previously announced, with the incoming of thenew Mayor at the start of 2024, the community itself works to completeupdates to its own underlying Charter, a foundational process that isrequired before further contracts such as those for the Company’slong-term surface rights access, and formalization agreements withLomas Doradas (the local artisanal mining association) that theCompany has provided, can be finalized.  The Chachas communityformally meets at the end of every month to work through its affairs.Current guidance from the community is that it anticipates the ratification of the community Charter to becomplete no later than the end of July, 2024.  Further updates willbe provided as they are received on a biweekly basis.

QualifiedPerson

The technicalinformation in this release has been reviewed and verified by NeilPettigrew, M.Sc., P. Geo., Director of Element79 Gold and a"qualified person" as defined by National Instrument43-101.

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 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 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 fact may be forward?looking statements. Anystatements that express or involve discussions with respect topredictions, expectations, beliefs, plans, projections, objectives orfuture events or performance (often, but not always, using words orphrases such as "seek", "anticipate","plan", "continue", "estimate","expect", "may", "will","project", "predict", "forecast","potential", "target", "intend","could", "might", "should","believe" and similar expressions) are not statements ofhistorical fact and may be "forward?lookingstatements".

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 . Althoughthe Company has attempted to identify important factors that couldcause actual results to differ materially from those contained inforward-looking statements, there may be other factors that causeresults not to be as anticipated, estimated or intended. The Companybelieves that the expectations reflected in these forward?lookingstatements are reasonable, but no assurance can be given that theseexpectations will prove to be correct and such forward?lookingstatements included herein should not be unduly relied upon. Thesestatements speak only as of the date hereof. The Company does notintend, and does not assume any obligation, to update theseforward-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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