Mr. James Tworek reports

ELEMENT79 ANNOUNCES EXTENSION TO PROPOSED SPIN OUT AND MERGER

Element79 Gold Corp. wishes to clarify its news release dated May 1, 2025. In connection with its previously announced proposed arrangement transaction with Synergy Metals Corp., pursuant to an arrangement agreement dated Jan. 10, 2025, the company has entered an amending agreement dated effective April 30, 2025, to extend the proposed deadline for completion of the transactions contemplated by the arrangement agreement to Oct. 31, 2025 (and not Aug. 31, 2025).

The company also wishes to clarify its news release dated May 1, 2025. In connection with the previously announced amalgamation anticipated to follow such arrangement pursuant to a merger agreement dated Jan. 10, 2025, between Synergy, Synergy's wholly owned subsidiary, 1515041 B.C. Ltd. (Synergy Subco), and 1425957 B.C. Ltd. (142), the company has entered an amending agreement dated effective April 30, 2025, to extend outside date for completion of the transactions contemplated by the merger agreement to Oct. 31, 2025 (and not Aug. 31, 2025).

The company remains committed to both the proposed arrangement and the subsequent proposed amalgamation of Synergy Subco and 142 in connection with the acquisition by Synergy of all of the issued and outstanding shares of 142, as further described in the news release dated Jan. 13, 2025.

About Element79 Gold Corp.

Element79 Gold is a mining company focused on the exploration and development of high-grade gold and silver assets. Its principal asset is the past-producing Lucero project in Arequipa, Peru, where it aims to resume operations through both conventional mining and tailings reprocessing. In the United States, the company holds interests in multiple projects along Nevada's Battle Mountain trend. Additionally, Element79 Gold has completed the transfer of its Dale property in Ontario to its wholly owned subsidiary, Synergy Metals, and is progressing through the plan of arrangement spinout process.

We seek Safe Harbor.