ELEVATION GOLD MNG CORP - EVGDF STOCK NEWS

Elevation Gold Mining Corporation (OTCQX: EVGDF) reported Q2 2022 results with gold production of 6,809 ounces and silver production of 28,115 ounces from 768,997 ore tonnes processed. Revenue totaled $14.4 million, driven by the sale of 6,998 ounces of gold at an average price of $1,864 per ounce. The company faced an operational loss of $7.3 million and a net loss of $33.8 million largely due to a non-cash impairment of $33.9 million. Looking ahead, Elevation anticipates increased gold production in H2 2022, with a forecast of 32,000 to 34,000 ounces for the year.

Elevation Gold Mining Corporation (OTCQX: EVGDF) announced that all resolutions at their Annual General Meeting (AGM) held on August 18, 2022, were approved by shareholders. A total of 36,024,003 shares were represented, accounting for 32.63% of the company's outstanding shares. Key approvals included the election of the Board of Directors, reappointment of PricewaterhouseCoopers as auditors, and a new 10% rolling equity incentive plan. Additionally, Elevation Gold secured a US $6 million revolving credit facility to support operations at its Moss Mine in Arizona.

Elevation Gold Mining Corp. (OTCQX: EVGDF) announced the immediate resignation of President Michael G. Allen, thanking him for his service. Tim Swendseid, previously the Chief Operating Officer, has been appointed as the new President. Douglas J. Hurst, Chairman, expressed confidence in Swendseid's capabilities, highlighting improvements at the Moss Mine under his leadership. Swendseid, with over 35 years of experience, aims to enhance ore grade and complete major capital projects. Elevation Gold operates the Moss Mine in Arizona and holds the Hercules exploration property in Nevada.

Elevation Gold Mining Corp. announced the start of exploration drilling at the Florence Hill target on the Moss Mine Property, Arizona. This maiden drilling follows recent geophysical findings indicating a large hydrothermal system in the area. The company plans approximately 3,800 meters of diamond core drilling. Additionally, ongoing infill drilling at the Moss Mine shows promise with significant intersections of gold and silver. Notable results include 60.96 meters grading 0.54 g/t gold in the West Pit and 32.00 meters of 0.84 g/t gold in the Eastern Extension.

Elevation Gold Mining Corp. (OTCQX: EVGDF) has announced the commencement of its drilling program at the Florence Hill exploration target, set to begin in mid-June 2022. This program will cover approximately 3,800 meters, focusing on the potential for new gold discoveries in an area historically rich in gold production. The Florence Hill target is strategically positioned near the Moss Mine, with geological features indicating significant exploration potential. The company also granted stock options for 4,025,000 shares at C$0.30 each for five years.

Elevation Gold Mining Corp. (OTCQX: EVGDF) reported Q1 2022 financial results, producing 6,268 ounces of gold and 31,029 ounces of silver. The company generated $13.5 million in total revenue from 6,512 ounces of gold sold, with mine operating income of $1.5 million. Cash costs per ounce were $1,648, and all-in sustaining costs reached $2,248. Significant drilling results were announced at the Moss Mine, enhancing exploration prospects. The company is focusing on improving operational efficiencies and progressing key capital projects.

Elevation Gold Mining Corp. (OTCQX: EVGDF) has provided updates on its ongoing infill and resource expansion drilling at the Moss Mine in Arizona. Recent drilling beneath the active West Pit has revealed significant intervals of gold-silver mineralization, including drillhole AR21-562R with 344.42 meters of 0.31 g/t gold and 1.12 g/t silver. The company aims to delineate additional mineral resources and has indicated potential for reducing the strip ratio. Ongoing drilling continues to target the Moss and Ruth Veins, with further assays pending, indicating continued exploration growth.

Elevation Gold Corp. reported financial results for the year ending December 31, 2021, achieving total revenue of $58.8 million from 29,175 ounces of gold and 266,088 ounces of silver sold. The average realized price for gold was $1,796 per ounce. Mine operations generated $11.7 million before depreciation. However, cash costs grew to $1,225 per ounce, and the all-in sustaining costs reached $1,997, reflecting capital expenditures. The company plans to improve operations in 2022, focusing on throughput and high-grade ore extraction.

Elevation Gold Mining Corp. (OTCQX: EVGDF) announced positive results from its latest infill and resource expansion drilling at the Moss Mine in Arizona. Key findings include significant gold and silver intercepts, with drillhole AR21-475C intersecting 29.29 meters grading 1.90 g/t gold and 17.05 g/t silver. The East Pit continues to show potential for resource expansion, with the deposit remaining open along strike and down dip. Ongoing drilling aims to extend the resource area and additional results are anticipated as drilling continues.