Mr. James Tworek reports

ELEMENT79 AND CONDOR RESOURCES RESCHEDULE DECEMBER 2023 LUCERO PAYMENT

Element79 Gold Corp. has reached agreement with Condor Resources Inc. to revise the payment terms on a payment due Dec. 21, 2023, of $500,000 (U.S.) with respect to the Lucero project. Element79 is the owner of Calipuy Resources Inc., and assumed Calipuy's obligations to acquire the shares of Condor's subsidiary, Minas Lucero del Sur SAC, the owner of the Lucero project.

Element79 and Condor have agreed to reschedule the $500,000 (U.S.) payment into two tranches. Twenty-five per cent of the payment ($125,000 (U.S.)) will be satisfied now by the issuance of common shares of Element79. The balance of $375,000 (U.S.) is due on or before March 31, 2024. As consideration for the rescheduled payments, Element79 will issue a bonus of $12,500 (U.S.) to Condor, payable in Element79 shares. All other terms of the sale of Minas Lucero del Sur remain unchanged.

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.

The company also holds a portfolio of five properties along the Battle Mountain trend in Nevada, with the Clover and West Whistler projects believed to have significant potential for near-term resource development. Three properties in the Battle Mountain portfolio are under contract for sale to Valdo Minerals Ltd., with an anticipated closing date around the end of 2023. The company has also signed an option agreement to sell the Maverick Springs project, an advanced-stage exploratory property with an inferred resource of 3.71 million ounces gold equivalent (1.37 Moz gold and 175 Moz silver) and anticipates completing this sale on or before March 28, 2024.

In British Columbia, Element79 Gold has executed a letter of intent and financed a drilling program to acquire a private company that holds the option to 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 has an option to acquire a 100-per-cent interest in the Dale property, 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ont., 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 spinout process.

We seek Safe Harbor.