(TheNewswire)
Vancouver, BC – June 25, 2024 –Element79 Gold Corp (CSE: ELEM, OTC: ELMGF, FSE: 7YS0), Hereinafter ("Element 79 Gold", the "Company") , a mining company focused on gold and silver committed tomaximizing shareholder value through responsible mining practices andsustainable development of its projects, is excited to provide thefollowing updates about the social and business engagement in Chachasas well as highlight additional revenue-generating business underway.
Local Charter Ratified
Element79 Gold has received confirmation that theChachas community has reached an agreement to complete the ratification of its charterthis past weekend. This agreement was reached at an auxiliarycommunity meeting held in the neighboring community of Orcopampa. As described previously , this was the key step for Chachas to be able to thencomplete further contracts and tenders . D ue to timingrestrictions, no further tenders or contracts were completed orawarded during the auxiliary meeting.
Element79 Gold’s communityrelations team is working on an additional on-site campaign this monthwith specific deliverables due, including confirmation from Chachas asto specific timing for agreements with the Company to be reviewed andcompleted. Element79 Gold will continue its monthly efforts withChachas leadership to steward its Lucero project advancement as awin-win priority, and looks forward to a long and prosperous businessrelationship with the stakeholders of Chachas and in the community .
Push Toward 2024 Revenue Generation
Falling in line with the Company’s comments andprojected first phase of revenue generation, discussed in newsreleases and interviews over the past few months, there is animmediate channel of potential revenue generation underway through consolidating andreselling ore from the local Artisanal Small-scale Miners (“ASMs”)that are currently mining at and around the Lucero mine.
Further, Lomas Doradas, the localASM association in Chachas completed its election process this pastMonday . T he newPresident is Mr. José Luis Asuero Llamoca. It is Mr. Llamoca’srole to work hand in hand between the Company and the ASMs. Throughits local community liaisons and development office that it opened inChachas in February, the Company has been building with Lomas Doradasand reviewing offtake contracts to purchase and bring their minedproduct ( Brosa , raw unprocessed ore) to market. It has also beenreviewing multiple potential regional offtake partners and will reporton its quarterly sales volumes in the future.
Regional M&A reviewcontinues
As reported previously, the Element79 Gold teamcontinues to review a number of regional acquisition and Purchase andSale agreements to expand the Company’s resource values, increasefootholds , trustedteammate capacity, and potential income yields for future growth. The Company and its counsel are activelyreviewing contracts and anticipates confirmation of a completed LOIbefore the end of August 2024.
About Element79 Gold Corp
Element79 Gold is a mining company focused on gold andsilver committed to maximizing shareholder value through responsiblemining practices and sustainable development of its projects.
Element79 Gold's focus is on developing itspast-producing, high-grade gold and silver mine, the Lucero projectlocated in Arequipa, Peru, with the intent to restart production in2024.
The Company also holds a portfolio of five 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 2024.
The Company holds an option to acquire a 100% interestin the Dale Property, 90 unpatented mining claims locatedapproximately 100 km southwest of Timmins, Ontario, and has recentlyannounced that it has transferred this project to its wholly ownedsubsidiary, Synergy Metals Corp, and is advancing through the Plan ofArrangement spin-out process.
For more information about the Company, please visit www.element79.gold
Contact Information For corporate matters, pleasecontact:
James C. Tworek, Chief Executive Officer andDirector
E-mail: jt@element79.gold
For investor relations inquiries, please contact:
Investor Relations Department
Phone: +1.403.850.8050
E-mail: investors@element79.gold
Cautionary Note Regarding Forward-Looking StatementsThis press 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 considering management's experienceand perception of historical trends, current conditions and expected future developments. Forward-looking statementsinclude, but are not limited to, statements with respect to: theCompany's business strategy; future planning processes; explorationactivities; the timing and result of exploration activities; capitalprojects and exploration activities and the possible results thereof;acquisition opportunities; and the impact of acquisitions, if any, onthe Company. Assumptions may prove to be incorrect and actual resultsmay differ materially from those anticipated. Consequently,forward-looking statements cannot be guaranteed. As such, investorsare cautioned not to place undue reliance upon forward-lookingstatements as there can be no assurance that the plans, assumptions orexpectations upon which they are placed will occur. All statementsother than statements of historical fact may be forward-lookingstatements. Any statements that express or involve discussions withrespect to predictions, expectations, beliefs, plans, projections,objectives or future events or performance (often, but not always,using words or phrases such as "seek","anticipate", "plan", "continue","estimate", "expect", "may","will", "project", "predict","forecast", "potential", "target", 4 of4 "intend", "could", "might","should", "believe" and similar expressions) arenot statements of historical 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; labor 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. Although the Company has attempted toidentify important factors that could cause actual results to differmaterially from those contained in forward-looking statements, theremay be other factors that cause results not to be as anticipated,estimated or intended. The Company believes that the expectationsreflected in these forward-looking statements are reasonable, but noassurance can be given that these expectations will prove to becorrect and such forward-looking statements included herein should notbe unduly relied upon. These statements speak only as of the datehereof. The Company does not intend, and does not assume anyobligation, to update these forward-looking statements, except asrequired by applicable laws. Neither the Canadian SecuritiesExchange nor the Market Regulator (as that termis defined in the policies of the Canadian Securities Exchange)accepts responsibility for the adequacy or accuracy of thisrelease.
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