Mr. James Tworek reports

ELEMENT79 GOLD APPOINTS CEO JAMES TWOREK TO BOARD OF DIRECTORS

Element79 Gold Corp. has appointed James C. Tworek, the company's chief executive officer, as a non-independent director of the company. In addition to his operational role as CEO, Mr. Tworek will now be in a more direct supportive role to work with the board in strategic decision making and guidance.

Mr. Tworek has been the CEO of Element79 since its preinitial public offering era, and has built his career holding positions as director, senior management, operational and analytical roles in both public and private companies. As a successful entrepreneur, he had a 25-year career started in banking in 1998, and he has garnered a wealth of experience across diverse industries between commercial banking, mining, oil and gas, project finance, mezzanine debt, mortgage brokerage, hemp/legal cannabis, and clean water/envirotech industries. His investing experience includes real estate, private mining, private equity, start-up generation, technology and agricultural ventures.

A team leader, he built his career on successfully executing, developing and reaching corporate growth targets. His strong communication skills, honesty and integrity with investors and stakeholders make him an asset as a board member.

Mr. Tworek commented: "It's a huge achievement to be brought onto the board here at Element79, where I can actively be part of the decision-making process for the company's future beyond solely my day-to-day operational role as CEO. I look forward to enacting change and generating value for our shareholders with my fellow directors as the company continues to grow through executing our plans and strategies today and through the coming years."

About Element79 Gold Corp.

Element79 is a mining company focused on gold, silver and associated metals. Element79's main focus is on two core properties: developing its previously producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to bring it back into production in the near term; and its flagship Maverick Springs project located in the famous gold mining district of northeastern Nevada, United States, between the Elko and White Pine counties. Maverick Springs hosts a National Instrument 43-101-compliant, pit-constrained mineral resource estimate reflecting an inferred resource of 3.71 million ounces of gold equivalent at a grade of 0.92 gram per tonne AuEq (0.34 g/t gold and 43.4 g/t silver) with an effective date of Oct. 19, 2022 (see news release dated Oct. 20, 2022, available on SEDAR). The acquisition of the Maverick Springs project also included a portfolio of 15 properties along the Battle Mountain trend in Nevada, which are non-core to its primary business focus. In British Columbia, Element79 has executed a letter of intent and financed a drilling program to acquire a private company which holds the option to a 100-per-cent interest of the Snowbird high-grade gold project, which consists of 10 mineral claims located in central British Columbia, approximately 20 kilometres west of Fort St. James. The company also has an option to acquire a 100-per-cent interest in the Dale property, 90 unpatented mining claims located approximately 100 kilometres southwest of Timmins, Ont., Canada, in the Timmins mining division, Dale township. The company is analyzing the non-core Nevada projects, the Dale property and the Snowbird property for further merit of exploration, sale or spinout.

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