Mr. James Tworek reports

ELEMENT79 GOLD CORP WELCOMES THE SUCCESSFUL IPO OF SUN SILVER LTD.

Element79 Gold Corp. is congratulating Sun Silver Ltd. for its successful initial public offering (IPO) today.

The offering was oversubscribed to its maximum limit of AUD $13,000,000 and Sun Silver shares began trading on the Australian Stock Exchange (ASX) under the symbol SSI.

Sun Silver comes to market at a time of growing investor interest in the silver industry, driven by growing demand for the metal from industrial and high-tech applications particularly the solar industry.

Solar energy capacity in the USA alone is forecast to increase by 125GW per year to 2030, and the USA has set a target for solar energy to provide 30 per cent of all electricity in the United States by 2030 and 45% by 2050. The estimated amount of silver required to achieve this target by 2050 represents as much as 98% of the current known global silver reserves.

As part of the transaction, Element79 now hold a stake representing 3,500,000 shares of Sun Silver, pursuant to the terms agreed upon in the recently completed sale of the Maverick Springs project. Sun Silver aims to develop Maverick Springs and undertake early-stage studies to assess the feasibility of silver paste and solar energy opportunities.

"We are pleased to witness the success of our colleagues at Sun Silver," said James Tworek, CEO of Element79 Gold. "Element79's stake in Sun Silver share capital solidifies the relationship between two industry players who share a vision of sustainable growth development and long-term value creation for their shareholders."

"We are thrilled to have completed our IPO and excited to embark on this journey where we intend to expand on the existing resource at Maverick Springs," said Gerard O'Donovan, Executive Director of Sun Silver Ltd. "We look forward to leveraging our position in the silver industry, capitalizing on the growing demand and we are grateful for the synergies with the team at Element79 who were instrumental in helping us make this significant step forward."

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 2024.

The Company also holds a portfolio of 5 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 in the first half of 2024.

The Company 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.

We seek Safe Harbor.