Mr. James Tworek reports

ELEMENT79 FILING OF ANNUAL FINANCIAL STATEMENTS FOR YEAR ENDED AUGUST 31, 2023

Element79 Gold Corp. has filed its annual financial statements in respect of its year ended Aug. 31, 2023, its management's discussion and analysis relating to its annual financial statements, and the chief executive officer and chief financial officer certifications. The filings are available on SEDAR+, as well as the Canadian Securities Exchange website.

As previously announced, the company was under a voluntary management cease trade order for failure to file its annual financials and the required documents, and it will remain in default until it completes the filing of its first quarter interim financial statements for the period ended Nov. 30, 2023, along with management's discussion and analysis, and the interim CEO and CFO certifications.

The company intends to satisfy the provisions of the alternative information guidelines in accordance with National Policy 12-203 (Management Cease Trade Orders) by issuing biweekly default status reports in the form of news releases until the situation is satisfactorily rectified.