Mr. Derek Macpherson reports

GOLD79 EXTENDS CLOSING DATE OF PRIVATE PLACEMENT FINANCING

Gold79 Mines Ltd. is extending the final closing date of its non-brokered private placement arranged on June 2, 2023. The closing date of the private placement will now be on or before July 26, 2023. All other terms of the private placement remain unchanged. The placement will raise gross proceeds of up to $1-million, comprising 33,333,333 units at three cents per unit. Each unit consists of one common share of the company and one whole common share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at a price of five cents for a period of 24 months following the date of issuance. Additionally, the warrants will be callable during the 24-month period, at the option of the company, in the event that the 20-day volume-weighted average price of the company's common shares meets or exceeds eight cents for 10 consecutive trading days based on trades on the TSX Venture Exchange and alternative trading systems. Subscribers will be notified of the call provision being triggered and will have a 30-day period to exercise the warrants.

As disclosed on June 9, 2023, the company has closed a first tranche of the private placement, raising gross proceeds of $210,000 through the issuance of seven million units.

Any securities issued under the offering would be subject to a statutory hold period of four months and one day from the date of issuance. This offering is subject to the approval of the TSX-V.

It is anticipated that approximately 35 per cent of the aggregate proceeds raised under the offering will be used for exploration expenditures related to the Gold Chain project in Arizona, approximately 30 per cent will be used for land management costs and property payments, approximately 20 per cent will be used for working capital and general corporate purposes, and approximately 15 per cent will be used to pay management fees to company officers.

Gold79 may pay commissions to qualified finders in Canada in connection with the offering. Any finders' fees paid would be in accordance with TSX-V policies.

About Gold79 Mines Ltd.

Gold79 Mines is focused on building ounces in the southwestern United States. Gold79 holds a 100-per-cent earn-in option to purchase agreements on three gold projects: the Jefferson Canyon gold project and the Tip Top gold project in Nevada, United States, and the Gold Chain project in Arizona, United States. In addition, Gold79 holds a 32.3-per-cent interest in the Greyhound project, Nunavut, Canada, under joint venture by Agnico Eagle Mines Ltd.

We seek Safe Harbor.