ELEVATION GOLD MNG CORP - EVGDF STOCK NEWS

Elevation Gold Mining Corp. has announced key corporate updates as of March 20, 2023. The company appointed David Peat as a Director, bringing over 30 years of financial leadership experience in mining. James Fowler will serve as the new General Manager of Moss Mine starting March 27, 2023. Concurrently, the company reported Dr. Warwick Board's retirement effective February 1, 2023. Elevation Gold also entered forward sales arrangements for future gold production, securing prices between $1,889 and $1,962 per ounce. Additionally, the company has secured a USD12 million revolving credit facility, extended to February 28, 2025, to support operations at the Moss Mine.

Elevation Gold Mining Corporation (OTCQX: EVGDF) has issued a correction to its March 16, 2023 news release regarding its last published resource grade. The corrected resource grade is 0.38 g/t, not 0.38 oz/t, as initially stated by CEO Tim Swendseid. Elevation Gold is engaged in gold and silver production, primarily operating the Moss Mine in Arizona and the Hercules exploration property in Nevada. The company emphasizes the importance of accurate reporting to maintain stakeholder trust and ensure informed decisions.

Elevation Gold Mining Corporation (TSXV: ELVT, OTCQX: EVGDF) announced promising initial results from its reverse circulation (RC) drilling program at Moss Mine, with 22 holes drilled totaling 4,906 meters. Fourteen holes confirmed significant gold mineralization, particularly in the Reynolds Pit area, which may extend the active mining site. The program also included five diamond core holes totaling 3,141 meters in greenfields exploration, with results expected in Q2 2023. CEO Tim Swendseid emphasized the continuity and higher-than-expected gold grades, pointing out the permit in place for further development.

Elevation Gold Mining Corporation (OTCQX: EVGDF) announced the issuance of 181,667 shares to Iconic Minerals Ltd. as part of the Hercules Gold Project Option Agreement established on August 9, 2019. This agreement was later amended on February 12, 2021. The company operates primarily in the U.S. with significant projects in Nevada and Arizona, focusing on gold and silver production. Elevation Gold's primary operation is the 100% owned Moss Mine in Arizona. The announcement does not provide detailed financial metrics or immediate impacts on the company's stock performance.

Elevation Gold Mining Corporation (OTCQX: EVGDF) announced its production results for Q4 and the full year ended December 31, 2022. The company produced 9,183 ounces of gold in Q4 2022, a 111% increase from Q4 2021, and sold 9,060 ounces, marking a 105% rise year-over-year. Total gold sales for 2022 reached 31,666 ounces, an 18% increase from 2021. Consistent operational performance was reported despite contractor changes. The company anticipates recovering tonnage through improved contractor performance in 2023. Financial results and management discussions will be filed by late April 2023.

Elevation Gold Mining Corp. announced the immediate resignation of Chief Financial Officer Paulo Santos. William Dean has been appointed as the new CFO, bringing over 30 years of international finance experience. Additionally, Justine De Boom has been named Vice President of Human Resources, enhancing corporate HR functions. The company also granted stock options for 500,000 shares at C$0.18 each. CEO Tim J. Swendseid expressed optimism over the new appointments, highlighting Dean's financial expertise and De Boom's prior contributions at the Moss Mine.

Elevation Gold Mining Corporation has announced progress on its Florence Hill exploration project, with two drill holes completed and a third underway. The first hole, FH22-001, showed promising signs of epithermal quartz-calcite veins and porphyry-style alterations. The second hole, HV22-001, intersected significant quartz-calcite veins, suggesting potential for further exploration. Assays for all holes are expected in Q1 2023. The company plans additional drilling to investigate geophysical anomalies and optimize follow-up drilling strategies.

Elevation Gold Mining Corporation (OTCQX: EVGDF) reported strong financial results for Q3 2022, producing 8,835 ounces of gold and 49,007 ounces of silver. Revenue reached $17 million from 9,096 gold ounces sold, reflecting a 46% increase year-over-year. The average realized gold price was $1,713 per ounce. Income from mine operations was $2.1 million, with net income of $1.2 million ($0.01/share). The company anticipates improved Q4 results driven by higher-grade ore and completed capital projects. Annual sales guidance remains between 32,000 and 34,000 ounces.

Elevation Gold Mining Corporation (OTCQX: EVGDF) announced final results from its reverse circulation drilling program at the Moss Mine. The program highlighted significant mineralization, including 48.8m grading 0.63 g/t Au at Center Pit and 147.8m grading 0.31 g/t Au at West Pit. A new RC drilling program set for November aims to explore further mineralization, potentially extending the mining area by 0.5km. The company also received final approval for its Equity Incentive Plan, allowing for the issuance of various stock awards, effective October 19, 2022.