Mr. James Tworek reports

ELEMENT79 GOLD CORP ANNOUNCES EXECUTION OF DEFINITIVE AGREEMENT TO ACQUIRE GOLD MOUNTAIN PROJECT IN NEVADA

Element79 Gold Corp. has executed a definitive asset purchase agreement dated July 31, 2025, with Donald James McDowell for the acquisition of a 100-per-cent interest in the Gold Mountain project located in Lander county, Nevada.

The Gold Mountain project consists of 34 unpatented mining claims covering highly prospective ground in the heart of Nevada's Battle Mountain trend. Under the terms of the agreement, Element79 Gold, through its wholly owned subsidiary ELEM Battle Mountain LLC, has agreed to acquire all rights, title and interest in the Gold Mountain assets in exchange for the issuance of 100 million common shares of the company at a deemed price of two cents per share, as well as a cash payment of $137,485.85 (U.S.) payable following the closing of the company's next equity financing.

As part of the transaction, the vendor will retain a 3-per-cent net smelter return (NSR) royalty on all future mineral production from the project.

This arm's-length transaction is not considered a fundamental change for the company. No finders' fees will be paid in conjunction with the transaction. The company will ensure that all required regulatory filings are made as regards this transaction.

Full details of the acquisition are available in the asset purchase agreement filed on SEDAR+.

James Tworek, chief executive officer of Element79 Gold, commented: "This acquisition marks a significant step in advancing our strategic focus in Nevada. The Gold Mountain project provides a drill-ready opportunity with strong geological fundamentals in one of the most prolific gold regions in the world. Our technical team is preparing an exploration program for later this year to begin unlocking the value of this asset."

About Element79 Gold Corp.

Element79 Gold is a mining company focused on gold and silver exploration, with a portfolio of assets in Nevada and Peru. The company is actively advancing its Elephant project in the Battle Mountain trend of Nevada, as well as the drill-ready Gold Mountain project in Battle Mountain, Nevada.

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