Mr. Tim Swendseid reports

ELEVATION GOLD ANNOUNCES AGM RESULTS AND STOCK OPTION GRANT

All matters submitted to shareholders for approval as set out in the detail of Elevation Gold Mining Corp.'s Management information Circular dated May 18, 2023, were approved by the requisite majority of votes cast at its annual general meeting (AGM). A total of 30,857,488 common shares of the company were represented by shareholders in person or by proxy at the AGM, representing 27.91 per cent of the company's issued and outstanding common shares as at the record date of May 18, 2023.

Specifically, shareholders voted to approve:

• Election of the board of directors nominated;
• Reappointment of PricewaterhouseCoopers LLP, chartered professional accountants, as the company's external auditor for 2023;
• Approval of the company's 10-per-cent rolling equity incentive plan.

Detailed results of the voting are set out in the attached table.

The directors will serve on the board of directors until the company's next AGM of shareholders.

Full details of all proposals are described in the company's management information circular available on SEDAR.

Stock option grant

The company also reports that stock options have been granted to directors, officers and employees of the company to purchase up to an aggregate of 300,000 common shares at a price of 18 cents per share for a period of five years.

About Elevation Gold Mining Corp.

Elevation Gold is a publicly listed gold and silver producer, engaged in the acquisition, exploration, development and operation of mineral properties located in the United States. Elevation Gold's common shares are listed on the TSX Venture Exchange in Canada under the ticker symbol ELVT and on the Nasdaq OTC in the United States under the ticker symbol EVGDF. The company's principal operation is the 100-per-cent-owned Moss mine in the Mohave county of Arizona. Elevation also holds the title to the Hercules exploration property, located in Lyon county, Nevada.

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