ELEMENT79 GOLD CORP - ELMGF STOCK NEWS

Element79 Gold Corp. has successfully completed the filing of Form 211 with FINRA to qualify its common stock for listing on the OTC market. This step allows for public quotations under the ticker ELMGF, enhancing transparency for investors. The company also reported an inferred resource of 3.71 million ounces of gold equivalent from its Maverick Springs Project in Nevada. Additionally, Element79 Gold is actively pursuing acquisitions, including a private company in British Columbia and past producing mines in Peru.

Element79 Gold Corp. has announced service engagements with Mine Plus Group LLC and Axiom Exploration Group Ltd. to enhance its exploration and development initiatives. The partnership aims to leverage Mine+ Group's expertise for its Nevada and Peruvian assets, while Axiom will focus on its Canadian portfolio. Mine+ Group's contract lasts three years, with compensation comprising 80% equity and 20% cash, totaling 1 million shares. Axiom will assist with geological, geophysical, and environmental services, including permitting for the Snowbird Property. This strategic alliance is positioned to advance Element79's project development and operational readiness.

Element79 Gold Corp. has appointed Kim Kirkland as the new Vice President of Global Exploration. With nearly 40 years of experience at major mining firms, Kirkland's past roles include significant positions at Barrick Gold and Rio Tinto. He aims to leverage his extensive background to enhance Element79's exploration efforts. The company also highlights its flagship Maverick Springs Project in Nevada, boasting an inferred resource of 3.71 million ounces of gold equivalent at a grade of 0.92 g/t. This strategic hire aligns with the company's growth ambitions in the mining sector.

Element79 Gold Corp. has shared insights into its recent acquisition of high-grade gold portfolios in Peru, particularly the Lucero and Machacala mines. The company aims to rejuvenate these past-producing assets, with Lucero averaging 19.0g/t Au Equivalent and Machacala averaging 10.5g/t Au Equivalent. This strategic acquisition is expected to enhance revenue potential and diversify Element79's asset portfolio. The company is also committed to ESG initiatives, enhancing community relations, and sustainable practices.

Element79 Gold has addressed the Canadian Securities Exchange's request regarding promotional activity concerning its stock, particularly a promotional page by Capital Rankings. The company was unaware of editorial components that were published without approval. Despite this, Element79 Gold does not believe the promotional content was misleading. Trading activity increased on March 7, 2022, attributed to the company’s prior news releases and rising gold prices near $2,050 per ounce. The company is enhancing compliance processes and hired a full-time communications lead to prevent future issues.

Element79 Gold Corp. has signed a Letter of Intent (LOI) to acquire Calipuy Resources Inc., which owns the high-grade Lucero and Machacala mines in Peru. The Lucero mine, historically one of the highest-grade underground mines, boasts grades averaging 19.0 g/t Au Equivalent. The acquisition, valued at USD $15 million, is expected to enhance Element79's portfolio with potential near-term production. Operations at both mines were previously halted due to low commodity prices, but current favorable conditions may allow revival. The deal is subject to due diligence and further agreements.

Element79 Gold Corp. (OTC PINK:ELMGF) has appointed Shane Williams, former COO of Skeena Resources, as an advisor to its Board. Williams, who has nearly 20 years of experience in mining, played a key role in significant projects, enhancing shareholder value by over 300% at Skeena. CEO James Tworek discussed the company's potential for a spin-out of non-core assets, particularly from its Maverick Springs and Battle Mountain portfolios, aiming to unlock additional value for shareholders. The company remains focused on developing its gold properties in Nevada and British Columbia.

Element79 Gold Corp. has filed a National Instrument 43-101 Technical Report for the Maverick Springs Project in Nevada, revealing 3.71 million gold equivalent ounces (Au EQ) in the inferred mineral resource category. The report indicates an average grade of 0.92 g/t Au EQ from 125.4 million tonnes. The Maverick Springs Project is situated in a prolific gold mining area, suggesting potential for significant future exploration and resource upgrades. The report highlights the project's promising geological features and accessibility, with no known material risks affecting the mineral resource assessment.

Element79 Gold Corp. (CSE:ELEM, OTC PINK:ELMGF) announced the closure of a non-brokered private placement, issuing 280,899 common shares at $0.89 each. This action is part of a secondary drawdown of a $5 million equity investment facility with Crescita Capital. The net proceeds will fund exploration and general working capital. Additionally, the company has settled $97,500 in debt via issuing shares to two creditors. All share issuances are pending approval from the Canadian Securities Exchange, with a four-month hold period.