Element79 Gold Corp Provides Update on Social Management and Community Engagement for the Minas Lucero Project

(TheNewswire)

Vancouver, British Columbia – TheNewswire - March 11, 2024 – Element79 Gold Corp. (CSE:ELEM | FSE: 7YS0 | OTC: ELMGF) is pleased toprovide an update on the latest social management initiatives,community engagement and ongoing efforts for its Minas Lucero Projectin the Arequipa region of Peru.

Strengthening Community Relations in Chachas

As part of its ongoing commitment to responsible miningand sustainable development, Element79 Gold’s local team has beenactively engaging with community leaders and stakeholders in Chachasand surrounding annexes. Key developments include:

• Engagement with LocalAuthorities: Seven (7) formal letters weresubmitted to the JAL authorities of Chachas and its annexes tocoordinate meetings in March. These discussions will facilitateagreements on land use, to be formalized in the upcoming CommunalAssembly.

• Coordination with Regional Energy andMines Authority: The Company is working with theRegional Energy and Mines Management of Arequipa (GREM) to arrange anofficial briefing in Chachas. Through the GREM efforts have been madeare being made to establish an institutional working group withrepresentatives from the Chachas Community, the Lomas DoradasAssociation, and Minas Lucero del Sur to table requirements andcommitments between the parties.

Ongoing Communication and Support with Chachas

Element79 Gold continues to maintain positive and openlines of communication with the Chachas community, despite challengesposed by seasonal weather conditions:

• Community Interaction: Regular dialogue is ongoing with local stakeholders, and theCompany has received direct inquiries and support from communityallies.

• Weather-Related Impact: Heavy rains and landslides common to this season haveaffected road access to Chachas, causing temporary disruptions.Artisanal mining operations in the area have also been suspended untilApril due to adverse conditions.

• Local Presence: The Company continues to maintain its office in Chachas, along with anon-the-ground community assistant in Chachas to monitor developmentsand maintain direct communication.  Local Starlink internet antennaefor community use continue to be sponsored by the Company.

Advancing Strategic Community Initiatives

Deployment of Smart Multipurpose Screen Kits

Element79 Gold is preparing to introduce new technologyto local communities as part of its engagement strategy:

• Three (3) GAEMultipurpose System Kits are set to be deliveredto communal facilities in Chachas, Nahuira, and Tolconi beforemid-March.

• The deployment will serve as a technology demonstration , showcasing the potential benefits of Starlink connectivityand smart panels for community development.

• Official handover of the equipmentwill be contingent upon the signing of land-useagreements with the community, aligning with Element79 Gold’scommitment to fostering mutual benefits through sustainablepartnerships.

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Image 1 – GAE Multipurpose SystemKit setup

Click Image To View Full Size

Image 2 – (Spanish) Chart of the ofthe features and benefits that the GAE Multipurpose System Kits haveand provide to user communities

Upcoming Multi-Stakeholder Meeting inChachas

A keymeeting involving GREM, the Chachas CommunityCouncil (CC Chachas), the Lomas Doradas Association, and Minas Lucerorepresentatives is being planned before the upcoming CommunalAssembly. GREM-Arequipa has sent official invitations, and discussionsare underway to determine the most suitable date and agenda.  TheCompany has already submitted a formal letter to GREM to advance thisprocess; due to ongoing heavy rains, the GREM has confirmed anapproximate timeline for “end of March” and will continue toupdate both the Company and the CC Chachas in due course.

Commitment to ResponsibleMining

Element79 Gold Corp. remains dedicated to transparent dialogue, responsible communityand resource development, and long-term profitable and mutuallybeneficial community partnerships . The Companywill continue to provide updates as these initiatives progress.

About Element79 GoldCorp. Element79 Gold is a mining company focusedon exploring and developing its past-producing, high-grade gold andsilver project, Lucero , located in Arequipa, Peru. The Companyis committed to advancing responsible mining practices and maintainingstrong relationships with local communities to support sustainabledevelopment.

The Company alsoholds several exploration projects along Nevada’s Battle Mountaintrend, a region renowned for prolific gold production, and theseassets are under contract for sale in the first half of 2025. Additionally, Element79 has recently transferred its Dale Propertyin Ontario to its subsidiary, Synergy Metals Corp., as part of aspin-out process.

For further information, please visit our website at www.element79.gold .

For corporate matters, pleasecontact:

James C. Tworek, Chief Executive Officer

Email: jt@element79.gold

For investor relations inquiries,please contact:

Investor Relations Department
Phone: +1 (403)850.8050
Email: investors@element79.gold

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.

Certain statements in this NewsRelease, which are not historical in nature, constitute “forwardlooking statements” within the meaning of that phrase underapplicable Canadian securities law. These statements include, but are not limited to,statements or information concerning future work programs, results andtiming of any work programs, the Company’s performance or events asof the date hereof. These statements reflect management’s currentassumptions and expectations and by their nature are subject tocertain underlying assumptions, known and unknown risks anduncertainties and other factors which may cause actual results,performance or events to be materially different from those expressedor implied by such forward-looking statements. Those risks include theinterpretation of drill results; the geology, grade and continuity ofmineral deposits; the possibility that future exploration, developmentor mining results will not be consistent with our expectations;commodity and currency price fluctuation; failure to obtain adequatefinancing; regulatory, recovery rates, refinery costs, and otherrelevant conversion factors, permitting and licensing risks; generalmarket and mining exploration risks and production and economic risksrelated to design and engineering, manufacturing, technologicalprocesses and test procedures and the risk that the project’s outputwill not be salable at a price that will cover the project’soperating and maintenance costs. Forward-looking statements should notbe construed as investment advice. Readers should conduct a detailed,independent investigation and analysis of the Company and areencouraged to seek independent professional advice before making anyinvestment decision. Accordingly, readers should not place unduereliance on any forward-looking statement. Except as required byapplicable securities laws, the Company disclaims any obligation toupdate or revise any forward-looking statements to reflect events orchanges in circumstances that occur after the date hereof.

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