Mr. James Tworek reports

ELEMENT79 ANNOUNCES REVOCATION OF MCTO

Effective March 5, 2025, the B.C. Securities Commission has revoked the temporary management cease trade order, which prevented Element79 Gold Corp.'s officers, board and insiders from trading in the company's securities but did not affect the ability of other shareholders, including the public, to trade in the securities of the company.

The company confirms that, on Feb. 26, 2025, the audited annual financial statements for the year ended Aug. 31, 2024, along with management's discussion and analysis, and the related chief executive officer and chief financial officer certificates for the period, which were required to be filed on or before Dec. 30, 2024, were filed. On March 3, 2025, the quarterly financial statements for the three months ended Nov. 30, 2024, along with management's discussion and analysis, and the related CEO and CFO certificates for the period, were filed. Copies of the required filings are available under the company's SEDAR+ profile.

The company is also no longer listed as being in default on the BCSC's reporting issuer list and on the reporting issuer list, or default list, of each jurisdiction of Canada in which it is a reporting issuer to the extent that such jurisdiction maintains a list and that the corporation's officers, board and insiders are no longer prevented from trading in the corporation's securities.

Clarification on Crescita Capital LLC warrants

The corporation wishes to clarify the number of securities issued to Crescita Capital as disclosed in its Feb. 28, 2025, news release. The number of share purchase warrants issued to Crescita was 2,939,965. The warrants were issued as per the terms of the Crescita equity investment facility agreement, and the warrants are exercisable for a period of five years at a price of five cents per share.

We seek Safe Harbor.