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Company Retains Pinion Exploration Inc.

VANCOUVER, BC – MAY 7, 2026 - TheNewswire – Element79 Gold Corp. (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS0) ("Element79 ", the "Company ") today announced that it has entered into an agreement with Pinion Exploration Inc. to begin phase 1 field operations beginning with access road development and drill pad construction on its Gold Mountain Project. This works follows the September 16 announcement that it had successfully secured a two-year extension of its drilling permit and its October 21 announcement stating the Company had also successfully secured a reclamation bond. With these key milestones in place, the Company continues to advance with the Gold Mountain Project exploration work.

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Under the terms of the agreement, the scope of work includes clearing and rehabilitation of the existing access road through the Copper Basin and into the lower-elevation drill pads on the project’s eastern side. The work also includes the extension of a short section of road to access the permitted drill pads. In addition, Pinion will undertake the construction of four to six drill pads to support upcoming exploration work.

“Phase 1 field operations is a key step in enabling access to priority drill targets identified across the project area. This marks the transition from planning and permitting to active exploration. We are pleased to see this continued progress towards a fully active exploration season, particularly against the backdrop of a strong gold market,” said Michael Smith, President and CEO of Element79.

About Element79 Gold Corp.  

Element79 Gold Corp is a mining company focused on the exploration and development of its portfolio of high-potential gold projects. The Company’s focus is its Nevada portfolio, anchored by the Gold Mountain and Elephant Projects, both located in the world-class Battle Mountain Trend. In addition, Element79 continues to advance its high-grade Lucero Project in southern Peru, positioning the Company for long-term exploration growth.

For further details on this announcement and the Company’s projects, please visit www.element79.gold

Contact Information

For corporate matters, please contact:

Michael Smith, Chief Executive Officer

E-mail: ms@element79.gold

For investor relations inquiries, please contact:

Investor Relations Department

Phone: +1. (855) 535-3679

E-mail: investors@element79.gold

Cautionary Note Regarding Forward Looking Statements

This press contains "forward‐looking information" and "forward-looking statements" under applicable securities laws (collectively, "forward‐looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made considering management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to exploration activities, the timing and scope of planned drill programs. Consequently, forward-looking statements cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward‐looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward‐looking statements".

Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

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