Mr. James Tworek reports

ELEMENT79 GOLD CORP RECEIVES EXPLORATION PERMIT FOR LUCERO PROJECT FROM CHACHAS COMMUNITY

Element79 Gold Corp. has made a significant development in its mining exploration endeavors: The Community of Chachas, Castilla Province, Arequipa Region, has approved the issuance of a permit to Minas Lucero del Sur S.A.C., a wholly-owned subsidiary of Element79 Gold Corp, to conduct superficial mining exploration activities, including geological mapping and selective sampling, for a duration of four months, commencing from September 1, 2023, through December 31, 2023.

This decision was reached during the Local Assembly held on Sunday, September 3, 2023. The resolution was endorsed by a majority of qualified community members present at the assembly.

As part of the agreement reached during the assembly, Minas Lucero has undertaken to contribute to the community's infrastructure development by providing 3,000 meters of 4-inch piping in two deliveries, for the channeling of La Jocha in Ticlla.

"We are grateful to the Community of Chachas for their trust and support. Element79 Gold Corp is dedicated to conducting environmentally responsible and sustainable exploration activities. We look forward to working closely with the community to ensure a mutually beneficial partnership," said James Tworek, CEO of Element79 Gold Corp, "This first four months of work is a critical step to our greater development plan leading up to restarting production at Lucero, where we will be building out a data set through sampling, mapping, targeting trenching and drilling locations both above ground and underground. While mapping will be across the whole property, trenching and drill site targeting will focus on the Apacheta, Pillune and Sando Alcalde areas of the property, where the past production came from and is therefore of highest interest.

Looking to something new : we will also be setting our sights on the Andrea area, where we intend to begin work on a previously untouched vein system, alongside the Chachas community's artisanal miners. These next four months provide a great first step towards building out both our understanding of the vein systems for subsequent phases of exploration, drilling and getting to bulk sampling and PEA-level studies, as well as building with the community to grow together."

Element79 Gold Corp is committed to fostering positive relationships with local communities while adhering to the highest environmental and ethical standards in its exploration activities.

About Element79 Gold Corp

Element79 Gold is a mining company focused on gold and silver committed to maximizing shareholder value through responsible mining practices and sustainable development of its projects. Element79 Gold's main focus is on 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; The Company also holds a portfolio of 14 properties along the Carlin and Battle Mountain trend in Nevada, with the Clover and West Whistler projects are believed to have significant potential for near-term resource development. The Company has signed an option agreement to sell its Maverick Springs project, an advanced stage exploratory property with an Inferred Resource of 3.71MMoz AuEq (1.37MMoz Au and 175MMoz Ag) and anticipates completing this sale before the end of 2023. The Company continues to negotiate the sale of its non-core Nevada and Battle Mountain projects. In British Columbia, Element79 Gold has executed a Letter of Intent and funded a drilling program to acquire a private company that holds the option to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims located in Central British Columbia, approximately 20km west of Fort St. James. The Company also has an option to acquire a 100% interest in the Dale Property, 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, and has recently announced that it has transferred this project to its wholly-owned subsidiary, Synergy Metals Corp, and is advancing through the Plan of Arrangement spin-out process through the rest of 2023. For more information about the Company, please visit www.element79.gold

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