ELEMENT79 GOLD CORP - ELMGF STOCK NEWS

Element79 Gold Corp. (CSE:ELEM)(OTC PINK:ELMGF) announced the appointment of Shane Williams to its Board of Directors. Williams, former COO of Skeena Resources, has a successful track record managing billion-dollar projects at prominent companies including Eldorado Gold and Rio Tinto Group. His expertise is expected to enhance Element79's development efforts in South America and drive shareholder value. Williams holds a Master's in Project Management and brings nearly 20 years of experience in the mining sector.

Element79 Gold Corp. has successfully closed the acquisition of Calipuy Resources Inc., enhancing its portfolio with high-grade assets in Peru. The acquisition includes the Lucero mine, which boasts an average production grade of 19 g/t Au Equivalent and the Machacala Project with historical production averaging 10.5 g/t Au Equivalent. Recent sampling has shown promising results, with Lucero returning up to 116.8 g/t Au Equivalent. The $15 million acquisition involved issuing shares and performance warrants, aiming to expedite cash flow generation through these significant production-stage properties.

Element79 Gold Corp. announces a non-brokered private placement of up to 4 million units at CAD$0.50 each, aimed at raising CAD$2 million for exploration and operations in Nevada and Peru. Each unit includes a common share and a warrant, with the latter exercisable for CAD$1.00 within 24 months. The company also completed debt settlements totaling $304,569, issuing 579,908 shares to creditors. CEO James Tworek highlighted the importance of this capital raise for advancing projects like Maverick Springs and further exploration.

Element79 Gold Corp. (CSE:ELEM, OTC:ELMGF) announced the results of its Annual General Meeting (AGM) held on June 22, 2022. Shareholders approved all resolutions, including the re-election of board members Konstantin Lichtenwald, Neil Pettigrew, and Antonios Maragakis, and welcomed Shane Williams to the board. The shareholders adopted new company articles and an equity incentive plan. The meeting was successfully held both in-person and virtually, catering to all shareholders. The company continues to focus on acquiring and developing mining properties.

Element79 Gold Corp. has entered into a definitive agreement to acquire all shares of Calipuy Resources Inc. for USD $15 million. Calipuy holds a 100% interest in the high-grade Lucero and Machacala gold-silver mines in Peru, with historical production grades of 19.0 g/t Au Equivalent. The acquisition will be financed with the issuance of 19.1 million common shares and performance bonus warrants. This strategic move aims to enhance near-term cash flow and expedite operations at these productive assets.

Element79 Gold Corp. announced the results of its 2021 Phase I Exploration Program on the Dale Property, revealing gold values comparable to earlier prospecting results, with assays returning up to 3.8 g/t gold. The program included trenching and soil sampling, identifying east-west trending mineralized zones that indicate the potential for an economic resource. The company plans to expand exploration efforts and has increased its land package to 1980.5 hectares. Additionally, an Annual General Meeting is scheduled for June 22, 2022, with options for virtual participation.

Element79 Gold Corp. has renewed its agreement with CorpComm Services Limited for writing services and hired Renmark Financial Communications Inc. for investor relations. The contract with CorpComm will cost up to $15,000 monthly for one year starting April 15, 2022. The partnership with Renmark will incur fees of up to $8,000 CAD monthly for seven months, beginning May 1, 2022. CEO James Tworek emphasized that these relationships will enhance the company's visibility and communication with investors.

Element79 Gold Corp. announces a new $10 million equity drawdown facility from Crescita Capital, increasing from $5 million. This funding is intended for corporate development, including the upcoming acquisition of Calipuy Resources and further exploration of its Maverick Springs Project. The Company plans to utilize this capital for technical work leading to a Preliminary Economic Assessment (PEA) and potential cash flow operations from the historic tailings at Machacala.

Element79 Gold Corp. has appointed Antonios Maragakis as a director while continuing his role as COO. Maragakis brings extensive experience, having managed multi-billion dollar projects at companies like Barrick Gold and Freeport-McMoRan. CEO James Tworek highlighted Maragakis' leadership as pivotal for transitioning Element79 from exploration to production. The company is focused on its Maverick Springs Project in Nevada and plans acquisitions in both British Columbia and Peru to enhance its portfolio.