Element79 Files Year End Financials and Updates Status of MCTO

(TheNewswire)

Vancouver – TheNewswire –February 26, 2025 – Element79 Gold Corp. (CSE:ELEM) (OTC:ELMGF)(FSE:7YS) ("Element79 Gold", the "Company") provides an update with respect to thepreviously announced Management Cease Trade Order (the"MCTO") issued by the British Columbia Securities Commissionon January 2, 2025. The Company is providing notice in accordance withNational Policy 12-203 – Management Cease Trade Orders (“NP12-203”). The MCTO was issued by the BCSC on January 2, 2025. Itprevents the Company’s Officers, Board and Insiders from trading inthe Company’s securities but does not affect the ability of othershareholders, including the public, to trade in the securities of theCompany.

The Company confirms that as of today, the filing ofthe audited annual financial statements for the year ended August 31,2024, along with the management's discussion and analysis and relatedCEO and CFO certificates (the “2024 Filings”) for the period,which were required to be filed on or before December 30, 2024, havebeen filed on February 26, 2025.

The MCTO will remain in effect until the filing of thequarterly financial statements for the three months ended November 30,2024, along with the management's discussion and analysis and relatedCEO and CFO certificates (the “2025 Q1 Filings”) for the period,which were required to be filed on or before January 29, 2025, will befiled on or before March 7, 2025.

As previously stated, subject to current conditionsremaining the same, the Company remains confident in its ability tocomplete the 2025 Q1 Filings and will make its best efforts tocomplete the process within the timeline indicated.

The MCTO remains in effect until the Company files the2025 Q1 Filings and the BCSC’s Executive Director has revoked theMCTO. The Company confirms that since the date of the DefaultAnnouncement, other than as described above: (a) there has been nomaterial change to the information set out in the Default Announcementthat has not been generally disclosed; (b) there has been no failureby the Company in fulfilling its stated intentions with respect tosatisfying the provisions of the alternative information guidelinesset out in NP 12- 203; (c) there has not been, nor is thereanticipated to be, any specified default subsequent to the defaultwhich is the subject of the Default Announcement; and (d) there is noother material information concerning the affairs of the Company thathas not been generally disclosed.

The Company confirms that it will continue to satisfythe provisions of the alternative information guidelines under NP12-203 by issuing bi-weekly default status reports in the form of newsreleases for so long as it remains delayed.

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 arenot limited to, statements or information concerning future workprograms, results and timing of any work programs, the Company’sperformance or events as of the date hereof. These statements reflectmanagement’s current assumptions and expectations and by theirnature are subject to certain underlying assumptions, known andunknown risks and uncertainties and other factors which may causeactual results, performance or events to be materially different fromthose expressed or implied by such forward-looking statements. Thoserisks include the interpretation of drill results; the geology, gradeand continuity of mineral deposits; the possibility that futureexploration, development or mining results will not be consistent withour expectations; commodity and currency price fluctuation; failure toobtain adequate financing; regulatory, recovery rates, refinery costs,and other relevant conversion factors, permitting and licensing risks;general market and mining exploration risks and production andeconomic risks related to design and engineering, manufacturing,technological processes and test procedures and the risk that theproject’s output will not be salable at a price that will cover theproject’s operating and maintenance costs. Forward-lookingstatements should not be construed as investment advice. Readersshould conduct a detailed, independent investigation and analysis ofthe Company and are encouraged to seek independent professional advicebefore making any investment decision. Accordingly, readers should notplace undue reliance on any forward-looking statement. Except asrequired by applicable securities laws, the Company disclaims anyobligation to update or revise any forward-looking statements toreflect events or changes in circumstances that occur after the datehereof.

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