Mr. James Tworek reports

ELEMENT79 ANNOUNCES PAYMENT EXTENSION AGREEMENT FOR LUCERO PROJECT

Element79 Gold Corp. has entered into an amending agreement with Condor Resources Inc. to modify the terms of the payment due under the original agreement for the Lucero project in Peru. The extension provides a strategic framework for the company as it advances its flagship gold and silver asset.

Key terms of the amending agreement:

• The payment of $1-million (U.S.), initially due on Dec. 21, 2024, has been extended and increased to $1.1-million (U.S.), now due on or before June 30, 2025.
• Element79 Gold has pledged 1.75 million shares of Sun Silver Ltd. as security for the payment. These shares are subject to trading restrictions until May 6, 2025.
• The company has assured Condor that the pledged shares will remain free from any encumbrances and trading restrictions, aside from the time-based restrictions currently in place.

In the event the payment is not made in full by June 30, 2025, Condor reserves the right to take recourse through legal or equitable means.

This agreement allows Element79 Gold to maintain its focus on advancing the Lucero project, which remains central to the company's growth strategy in high-grade gold and silver mining.

About Element79 Gold Corp.

Element79 Gold is a mining company actively exploring and developing its portfolio of assets, including the high-grade, past-producing Lucero project in Arequipa, Peru, and properties along the Battle Mountain trend in Nevada. The company also holds an option to acquire the Dale property in Ontario and is advancing the plan of arrangement spinout process for its wholly owned subsidiary, Synergy Metals Corp.

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