Mr. Tim Swendseid reports

ELEVATION GOLD REPORTS CLAIM BY ROYALTY HOLDER

On April 4, 2024, as a result of lower-than-expected production, Elevation Gold Mining Corp. temporarily suspended its royalty/finder's fee payments and silver stream delivery obligations to preserve sufficient liquidity for the continued operation of the Moss mine; certain royalty holders had not consented to such suspension. Patriot Gold Corp., which holds a 3-per-cent net smelter return royalty on the Moss mine, has filed a claim in the Arizona State Superior Court for payment of amounts owing pursuant to the NSR royalty. The company continues to engage with Patriot in an effort to resolve the claim without litigation.

The company will provide further updates on this matter in due course.

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. The company's principal operation is its 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.

We seek Safe Harbor.