Mr. James Tworek reports

ELEMENT79 GOLD CORP INVITATION TO INVESTORS: AN OPEN AMA: Q&A FORUM TO SHARE PLANS FOR 2024 AND BEYOND

Element79 Gold Corp. will hold a unique information forum to share information on its evolved business model and trajectory through 2024 with its shareholders and interested investors.

The information format is called AMA, ask me anything.

Element79's management is looking for interesting and substantive questions and is eager to help increase understanding and awareness of its refocused business model and planned trajectory through 2024. Interested parties should view the company's corporate presentation. Management's most recent corporate update is also well worth attention.

The team at Element79 believes it embodies something quite unique in the marketplace today, something different from the more common exploratory, shovel-in-the-ground or on-site mining company stories. Some core features that help it differentiate itself from the rest of the junior mining sector is that it has a unique blend of miner, explorer and, most importantly, a closer of value-generating deals that benefit shareholders.

Shareholders and investors are invited to send their inquiries and questions about Element79's business to investors@element79.gold by 4 p.m. EST on Dec. 1, 2023. The appropriate C-suite member will respond to the questions in a video format that will be released via the company's YouTube channel and other social media assets at 4 p.m. EST on Dec. 10.

As a primer, investors may choose to address some of these transactions or processes under way, outlined below:

In 2023, Element79 transitioned from a project incubator to a production focus with sights set on bringing the high-grade, past-producing Lucero mine back into production in 2024.

As the company's focus transitioned over the last year, the merger and acquisition newsreel has been constant:

• Lucero: Element79 expanded the property in June, 2023, received exploration permits in September, 2023, and continued investment in mapping, channel sampling and amassing data that will feed a drill program in 2024. Being that it is in small-scale production today by the local artisanal miners, the company has a production permit, its high-grade historical production, this is its flagship project.
• Machacala transaction cancellation: In March, 2023, the company halted the Machala deal to refocus better and conserve funds. Return of shares involved in this transaction will be returned and cancelled before the end of 2023.
• Centra sale: Two Nevada projects were sold to Centra for $1-million in stock in May, 2023. Centra is completing its National Instrument 43-101 on the Long Peak property and commencing final filings for its own initial public offering. Once Element79 receives these shares and they trade freely, the company will manage its holdings strategically for corporate growth and investment into operational budgets.
• Valdo sale: The company also selling three Nevada projects to Valdo Minerals for $1.25-million in stock through a deal announced in November, 2022, and extended in May, 2023. Valdo has a similar business trajectory as Centra, with the timeline staggered by approximately nine months, and the company will strategically similarly manage these shares as those from Centra.
• Dale spinout: In July, 2023, the company transferred the Dale property to Synergy Metals Corp. Synergy has sourced a $200,000 loan to complete plan of arrangement spinout process. This process has been delayed from its original timing due to legal processes and the company will be providing further progress updates in December, 2023.
• Snowbird project: Currently under negotiations with Plutus for future project advancements.
• Maverick springs: The sale option was initially contracted on Aug. 31, and an extension was announced on Oct. 23 with an ultimate completion anticipated on or before the end of March, 2024. The counterparty continues to complete the steps required relative to its own listing process.
• Coming special shareholder meeting: For investors that held Element79 shares as of market close on Nov. 6, 2023, there will be a special shareholder meeting on Dec. 19, 2023, that will include voting on two major initiatives that pose to clean up the company's balance sheet dramatically:
  • A share-for-debt conversion of up to cad $3.75-million;
  • A notable conversion of a $2-million loan into shares of the company.

Element79's management and board have always believed strongly in ensuring open communication with its investors and stakeholders. As the company has recently pivoted from one business model to another (asset amalgamation to ramping up to production), seizing what is believes will become a significant value-creation and upside opportunity, Element79's team has been speaking on a one-off basis with many of its community to ensure that everyone understands the value levers that the company believes are at hand. The design of this AMA session is to clarify perspectives or misconceptions that may exist. Element79's management team believes you will find Element79 worth getting to know for its projects, business acumen and investor openness, poised to capitalize on what appears to be a very buoyant gold market coming in 2024 and beyond.

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 focus is on developing its past-producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to restart production in the near term.

We seek Safe Harbor.