Mr. James Tworek reports

ELEMENT79 GOLD CORP ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Element79 Gold Corp. is raising up to $250,000 through a non-brokered private placement of units of the company at a purchase price of 23 cents per unit. Each unit will be composed of one common share of the company and one common share purchase warrant. Each warrant will be exercisable for one common share at a price of 35 cents per common share for four years from the date of issuance.

James Tworek noted, "We had several interested investors and business partners that were not able to be accommodated in the last round of financing, and we are pleased to be able to have them participate in this round."

The proceeds of the financing will be used for financing mineral lease fees, continuing community relations, contractual and exploration work in Peru, and general working capital.

In accordance with applicable Canadian securities laws, all securities issued pursuant to the financing will be subject to a statutory hold period of four months and one day from the date of issuance. The closing of the financing is subject to the approval of the Canadian Securities Exchange.

About Element79 Gold Corp.

Element79 is a mining company focused on gold and silver and committed to maximizing shareholder value through responsible mining practices and sustainable development of its projects. Element79'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 beginning in 2024.

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 in 2024.

The company, through its subsidiary, Synergy Metals Corp., holds an option to acquire a 100-per-cent interest in the Dale property, 90 unpatented mining claims located approximately 100 kilometres southwest of Timmins, Ont., and is advancing through the plan of arrangement spinout process.

We seek Safe Harbor.