Element79 Gold Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Element79 Gold is a mining company focused on exploring and developing its past-producing, high-grade gold and silver project, Lucero, located in Arequipa, Peru. The Company is committed to advancing responsible mining practices and maintaining strong relationships with local communities to support sustainable development.

The Company also holds several exploration projects along Nevada's Battle Mountain trend, a region renowned for prolific gold production, and these assets are under contract for sale in the first half of 2025. Additionally, Element79 has recently transferred its Dale property in Ontario to its subsidiary, Synergy Metals Corp., as part of a spinout process.

Investment Highlights

Goal:

Meet global gold and silver demand, delivering shareholder value. Increased focus on Peru for opportunity, resource development and revenue generation with an eye towards local workforce development, positive community effects and minimal environmental impact.

Attractive Valuation:

Current market cap of ~$3 million CAD, including ~$3 million in shares of other companies and a past-producing resource exploration project and JV for exclusive rights to tailings for re-processing.

Exploration:

Lucero Project in Arequipa, Peru – 74 veins identified, 67 “untouched” and attractive high-sulphidation targets.

Revenue Generation Potential:

Tailings production, toll milling for local groups and ore extraction.

Community First Mindset:

Element79’s management believes strongly in developing community relationships for long-term sustainability and ensuring a positive impact in the communities it works in.

Visionary Leadership:

Forward-Looking, Globally Experienced Management, Board, Advisors: Seasoned Mining, Natural Resource, Business and Project Management professionals with recent successes in developing resources, midstream assets, operating mines.

Teamwork Makes the Dream Work:

Former portfolio of 20 mining projects was amassed, value created through project development, sold for profit in cash and shares for carried profit on the balance sheet.

Experience and Innovation:

Bringing three decades of experience in exploration and mining operations in Nevada, Peru and globally: Barrick, MMG Group, Antamina, AMEC Foster Wheeler PLC, Rio Tinto, Mine Plus Group, McEwen Mining, Freeport McMoRan, Koch Industries, Skeena Resources, and West Red Lake Gold Mines.

FLAGSHIP PROJECT

Lucero Project, Arequipa, Peru

Accessible for New Discoveries

• Located in Chachas, Arequipa, Peru, regionally proximate to Orcopampa, Paula, Toncoro and Caylloma producing mine complexes.
• More than 10 regional mills as potential for immediate-term offtake.
• 74 epithermal veins identified at surface, all past production came from 7; over 16 km of underground workings today
• Large high-sulphidation target identified in the project’s NW Quadrant has never been drilled.

Lucero Mine

The past-producing, high-grade Lucero Mine is one of Peru’s highest-grade underground mines in Peru's history.

From 1989-2005, commercial production averaged 19.0 g/t Gold Equivalent (“AuEq”) (14.0 g/t gold and 373 g/t silver), produced in excess of 20,000 oz AuEq annually.

2023 assays and channel samples from underground workings yielded up to 11.7 ounces (374.4 g) per ton Au and 247 ounces (7,904 g) per ton Ag, further validating the potential for a significant high-grade future operation.

Lucero Tailings

When Lucero (then Shila) was last in production, the operator created 1.3 million metric tons of tailings from its flotation plant. 2022/12 Plenge lab tests reflect a recoverable ~1.5 g/t AuEq through cyanidation; estimated over 50,000 ounces resource.

The business case is clear: rework the tailings for environmental, social and economic benefit.

Building a plant to process these tailings also provides a clear path to producing concentrate from Lucero and other regional mines.

Next Steps

Community Contracts

• Community contracts to obtain surface rights to access Lucero Mine and 67 unexplored veins, high-sulphidation target

Tailings Due Diligence

• Complete due diligence on Lucero Tailings with potential for immediate term Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA), near term revenue generation and footprint to build a plant on site.

Drill Lucero

• 1,000-metre inaugural underground campaign to begin resource discovery; mapping targeting for drift drilling. Sample and identify drill targets for shallow drilling of surface vein (74) expressions.

Review Additional Projects

• Several Peru-based near term revenue generation capacity projects of interest for additional acquisition and development.

Management

Management and Directors

James C. Tworek, eMBA, BA, Chief Executive Officer and Director

Teambuilding Leader with 26 years in Commercial Banking and Corporate Finance, Private Equity and Venture Capital.

Has raised and funded tens of millions of dollars for development projects.

Schooling focused on Latin American Studies and International Business; speaks Spanish fluently, basic Portuguese, French, German.

Board and Management experience with several publicly traded companies since 2018.

Tammy Gills, CPA (CMA), BSc., Chief Financial Officer

Extensive work as CFO, controller for multiple private and public companies for 20 years.

Core proficiency in Mining and Natural Resource Exploration industries including producing mines

Kim M. Kirkland, JORC Fellow, QP, Chief Operating Officer

Project lead with extensive South American experience, who can proficiently lead exploration programs and mining operations through milling, extraction/concentration and optimization/beneficiation.

Has held executive and lead engineering roles with some of the world’s largest mining companies. Barrick Gold Corp., Rio Tinto Group, MMG Ltd., Amec Foster Wheeler PLC, McEwen Mining.

Neil Pettigrew, QP, M.Sc., P.Geo., Director

Over 20 years of experience in mineral exploration

Currently Vice President Exploration and director at GT Resources Inc.

Zara Kanji, CPA (CGA), Director

Founder of Zara Kanji & Associates CPA firm

Over 18 years of public company board experience

Warren Levy, BSc, Director

More than 23 years developing major and private companies in resource development across the Americas, corporate expansion leader

Significant career milestones and successes centred around community engagement, sustainable development of infrastructure, energy and natural resource development

CEO, Frontier Hul’Che Advisory

Antonios (Tony) Maragakis, PhD, MSc., PMP, Strategic Advisor

Mining-focused Project Manager and Civil Engineer who has built, optimized and operated mines globally throughout his career.

Currently CEO and Director of MFD Holdings SA

Has held Management and Director-level positions overseeing multi-billion-dollar project portfolios globally: Barrick Gold Inc., Skeena Resources, Ltd., Freeport McMoRan Inc., Eldorado Gold Corp., Koch Industries.

Shane Williams, M.Sc., B.Eng., Strategic Advisor

CEO at West Red Lake Gold

COO at Skeena Resources Limited

J. Kevin Arias, Strategic Advisor

Over 20 years of experience in mining, energy, and corporate finance industries.

Raised CAD $100M+ since 2008 for various ventures.

Managing Director at Maple Grove Capital Inc.

News Update

On December 16, 2025, Element79 Gold Corp. announced the filing of an independent technical report (the “Report”) prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) for its Elephant Project, located in the prolific Battle Mountain Mining District, Nevada.

The Report, authored by Steven L. McMillin, MSc, CPG, of Rangefront Mining Services, provides an integrated assessment of geology, geophysics, and the compilation and analysis of historical exploration data. Historical exploration on the property has identified multiple gold-bearing structures, surface sampling anomalies, and drill intercepts that indicate strong potential for both high-grade and bulk-tonnage gold mineralization. Previous work identified scattered mineralization in widely spaced holes that, when mineralized, suggest the presence of a larger system at depth. The current report outlines that additional drilling is warranted to evaluate skarn- and porphyry-style gold-copper mineralization.

“This Report further highlights the potential of the Elephant Project, supporting the Company’s intention to advance a systematic exploration program aimed at expanding on past work and unlocking the project’s full potential in a district that already hosts tier-one operations,” commented Michael Smith, CEO of Element79 Gold Corp. “With high-grade gold intervals reported in historical core and geophysical signatures consistent with sulfide mineralization, our focus is on smart meters that test the heart of this system.”

On December 02, 2025, Element79 Gold Corp. announced that, in connection with its previously announced proposed arrangement transaction with Synergy Metals Corp. (" Synergy ") pursuant to an arrangement agreement dated January 10, 2025 , as amended by an amending agreement dated April 30, 2025 (together, t he “ Arrangement Agreement ”), it has entered a second amending agreement to the Arrangement Agreement dated effective October 31 , 2025, to extend the proposed deadline for completion of the transactions contemplated by the Arrangement Agreement to April 30, 2026.

The Company also wish to announce that it has entered into a second amending agreement dated effective October 31, 2025, pursuant to which, it has amended the merger agreement dated January 10, 2025, as amended by an amending agreement dated April 30, 2025 (together, the " Merger Agreement ") to extend the outside date for completion of the transactions contemplated by the Merger Agreement to April 30, 2026.

The Company remains committed to both the proposed arrangement and the subsequent proposed amalgamation.

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

On October 21, 2025, Element79 Gold Corp. has made a major step forward in its U.S. exploration strategy. The Bureau of Land Management Nevada State Office has officially accepted a reclamation bond of $19,871 (U.S.) for its Gold Mountain exploration project. This approval represents a key regulatory milestone, paving the way for expanded exploration and operational activity.

The bond, registered as of Oct. 14, 2025, was received Oct. 20, 2025. This confirms Element79's compliance with financial assurance requirements for surface reclamation activities -- a crucial component of responsible resource development.

"This bond approval is more than just a procedural step. It's a green light for growth. We are also excited to see its approval given the recent government shutdown," said Michael Smith, the company's chief executive officer. "With this in place, Element79 can move forward with confidence on our phase 1 drill program on Gold Mountain, knowing our environmental responsibilities are fully secured and regulatory boxes checked. We have been working with tendering earthworks and drilling teams while waiting for this approval, and, now, we can begin engaging them for site work and drilling this fall. This brings us one step closer to unlocking the value at Gold Mountain in Battle Mountain of Nevada."

Element79 remains committed to responsible resource development and creating lasting value for its shareholders.

On September 29, 2025, Element79 Gold Corp. announced that its attendance at the Munich Rohstoffmesse (Raw Materials Conference), taking place at the Munich Small Olympic Hall from October 3rd-4th, 2025.

The confirmed investment audience – more than 1,500 participants are expected – includes private investors, fund and asset managers, family offices, and institutional investors from across Europe.

Element79 Gold Corp CEO Michael Smith discussed: “We have had a presence in the European market for several years, and we see active trading on both our FSE ticker, 7YS0, as well as a significant amount of daily trading volumes on our CSE ticker, ELEM, come from Alternate Trading Systems, which reflect trading on international exchanges. I’m excited to share the evolving story at Element79 Gold Corp with the European community and this is a great venue for us to do that!”

On September 17, 2025, Element79 Gold Corp. has secured a two-year extension of its drilling permit for its 100-per-cent-owned Gold Mountain project (formerly known as Long Peak), located along the prolific Battle Mountain trend in Nevada, United States.

Advancing Nevada exploration strategy: The Gold Mountain project is a cornerstone of Element79's Nevada portfolio. Historical work and technical studies have highlighted drill-ready targets that will be central to the company's exploration focus over the next two years. With the permit extension secured, Element79 can move forward confidently with its development strategy in one of the world's most productive gold jurisdictions.

"Securing this two-year permit extension is a crucial step in ensuring continuity of our exploration strategy at Gold Mountain," commented Michael Smith, chief executive officer of Element79 Gold. "We are now positioned to execute on our drill programs and advance the project toward resource development, with the intent of building long-term value for our shareholders."

On September 15, 2025, Element79 Gold Corp.'s board of directors has accepted the resignation of Zara Kanji as director of the company, effective immediately. The board and management thank Ms. Kanji for her valuable contributions to the company and wish her the very best in her current and future endeavours.

At the same time, the board is pleased to announce the appointment of Mohammad Fazil as a director of the company, effective Sept. 15, 2025.

Michael Smith, chief executive officer, comments on the board changes: "On behalf of the company, I would like to sincerely thank Zara Kanji for her years of dedication and valuable service on the board. We wish her continued growth and success. At the same time, I welcome Mr. Fazil to the board and am confident that his perspective and leadership will be instrumental as we focus on advancing our portfolio of projects and driving long-term shareholder value under the guidance of a strong board."

On September 10, 2025, Element79 Gold Corp. has engaged Rangefront Mining Services of Elko, Nev., to complete a National Instrument 43-101 technical report on its 100-per-cent-owned Elephant project, located within the highly productive Battle Mountain trend in Nevada.

The company recently completed its NI 43-101 technical report on the Gold Mountain project, also with Rangefront, and is excited to advance similar work on the Elephant project to further solidify its growing Nevada-focused exploration portfolio. Rangefront has commenced compilation and analysis of historic exploration data dating back three decades for the Elephant project and is anticipated to complete the NI 43-101 technical report in the fourth quarter of 2025.

The Report, authored by Steven L. McMillin, MSc, CPG, of Rangefront Mining Services, outlines the geological potential of the 702-acre property, which consists of 34 unpatented lode mining claims in one of Nevada’s most productive and historic mining districts.

Highlights from the Report include:

• Historic drilling by Placer Dome (2005) returned intercepts of:
• 7.62m grading 0.48 g/t Au
• 10.67m grading 0.99 g/t Au
• Figures 11-14 of the report outline 2023 surface sampling of 116 rock samples , confirming high-grade Au-Ag-Pb mineralization associated with structurally controlled zones and lower-grade porphyry-style mineralization linked to the Long Peak Stock.
• The project lies just 0.5 miles south of the historic Dewitt Mine, which produced high-grade gold and silver ores from the 1930s–1950s.
• A Bureau of Land Management (BLM) Notice of Intent (NOI) has been approved, permitting up to 21 drill pads and associated roads.
• A fully costed exploration program totaling US$800,000 has been recommended, including detailed mapping, geophysics, and 8,000 feet of RC drilling to test high-priority targets.

Element79 Gold Corp. CEO Mike Smith commented: “The filing and completion of this Technical Report on Gold Mountain is a major milestone for Element79 Gold. Gold Mountain sits in the heart of one of Nevada’s most prolific mining areas, and the Report confirms both the historic presence of significant gold intercepts and the potential for new high-grade discoveries. With drill permits in hand and a clear exploration roadmap, we believe this project offers a compelling value creation opportunity. The proximity to prod ucing mines such as Phoenix-Fortitude and Marigold further validates the potential of this district. We see Gold Mountain not only as a growth engine for Element79 but also as a great starting point to start our North American refocussing.”

On August 15, 2025, Element79 Gold Corp. will make strategic leadership changes, which will be effective Aug. 31, 2025, alongside an update on its advancing growth strategy.

Key highlights discussed:

• Refined strategic focus: Over the past year, Element79 Gold has sharpened its focus on long-term exploration and development in Nevada, anchored by the acquisition of the drill-ready Gold Mountain project and plans to explore the Elephant project, both located in the prolific Battle Mountain trend. This strategy is designed to form the foundation for the company's next phase of resource growth in one of the world's most established gold districts.

Advancing Lucero, Peru: continued incubation of the high-grade Lucero project in southern Peru, with a mid- to long-term objective of restarting exploration and production:

• Leadership transition: Effective Aug. 31, 2025, including strategic changes to both management and the company's board of directors, with the goal of accelerating asset development in Nevada.

Outgoing chief executive officer Mr. Tworek commented: "It has been a privilege to build, grow and lead the talented team professionals at Element79 Gold from its private company roots through multiple transformative milestones and successes since our IPO in August, 2021. These changes to the Element79 Gold Corp. team make the company nimbler while retaining expertise, intimate project knowledge and relationships.

"We are grateful for our director Neil Pettigrew's leadership and expertise with the company's multitude of projects and guidance through many challenges that we have faced, both before and since our IPO. I wish him success in his current and future professional endeavours, and look forward to the possibility to work with him again.

"With the company's recent refocus on exploration and resource development in Nevada while continuing a mid to long-term strategy of restarting production at Lucero in Peru, I am confident that Michael is the right leader to guide the current phase of growth. I remain committed to supporting the company, helping to manage strategy, relationships and projects as a board member."

Incoming chief executive officer Mr. Smith added: "I am honoured and excited to take on the role of CEO during this exciting time of refocus and development opportunity underway at Element79 Gold Corp. Our immediate priorities lead a raise focused on drilling Gold Mountain, developing Elephant and maintaining momentum at Lucero in Peru. I look forward to building upon the strong foundation laid by James and the team."

Chairman Mr. Levy added: "I would like to thank James and Neil for their efforts over the years to keep Element79 moving forward, and am looking forward to Michael taking the lead going forward. The refocused company has an attractive portfolio and has maintained access to the upside in Peru. We feel that the hard work of positioning the company has been well done by James and Kim, and their continued involvement on the board will be important to assist the new management team in taking the company forward successfully."

On August 06, 2025, Element79 Gold Corp. has formally engaged Rangefront Mining Services of Elko, Nev., to prepare a National Instrument 43-101 technical report for the company's Gold Mountain project located in Lander county, Nevada.

As part of this engagement, Rangefront principal geologist and qualified person, Steven L. McMillin, MSc, CPG No. 11301, conducted a comprehensive site visit to the Gold Mountain property during the week of July 28, 2025. The fieldwork included inspection of historic adits, surface sampling zones, geological structures and claim boundaries in and around the Long Peak stock intrusion that underlies the project. The site visit is a critical step in validating data integrity and supports the development of the pending NI 43-101 property of merit report.

"We are excited to be working with Rangefront's expert team to build a strong technical foundation for the Gold Mountain project," stated James Tworek, chief executive officer of Element79. "This report is a significant step forward in advancing Gold Mountain into a drill-ready stage and further validating its strategic potential within the prolific Battle Mountain mining district."

On August 01, 2025, Element79 Gold Corp. announced that it has executed a definitive Asset Purchase Agreement (the “Agreement”) dated July 31, 2025, with Donald James McDowell (the “Vendor”) for the acquisition of a 100% 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 100,000,000 common shares of the Company at a deemed price of C$0.02 per share, as well as a cash payment of US$137,485.85 payable following the closing of the Company’s next equity financing.

James Tworek, CEO 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.”

On July 21, 2025, Element79 Gold Corp. has appointed Michael Smith as vice-president, corporate development, engaged under contract to support the company's renewed growth trajectory and strategic capital market initiatives.

Mr. Smith brings over 15 years of diverse business leadership experience across business development, capital raising, public company operations and investor relations. He has held executive and board-level roles with several Canadian Securities Exchange-listed companies and is the founder of Lions Bridge Capital, a boutique advisory firm supporting start-ups and growth-stage businesses. His expertise spans capital raising, mergers and acquisitions, regulatory compliance, and corporate messaging -- skills directly aligned with Element79 Gold's objectives as it accelerates exploration and development across its Nevada portfolio, including the Gold Mountain and Elephant projects.

"Michael brings the energy and market perspective that are critical as we transition into this next phase of strategic execution," said James Tworek, chief executive officer of Element79 Gold. "His capital markets experience and ability to connect with investors will be instrumental in unlocking the value of our core projects in Nevada, as well as while the picture for advancing our Lucero project becomes more clear."

On July 18, 2025, Element79 Gold Corp., a mining company focused on gold and silver exploration with a portfolio of assets in Nevada and Peru, today announced that CEO and Director, James C. Tworek, will present live at the Metals & Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com, on July 23, 2025

DATE : July 23, 2025

TIME: 1:30pm EST

LINK: REGISTER HERE

Available for 1x1 meetings: July 23-29, 9am-5pm EST – booking link: Element79 Gold - 1x1 Meeting Management Link

On June 30, 2025, Element79 Gold Corp. has provided its forward corporate guidance for the remainder of 2025, outlined recent strategic developments regarding its Lucero project in Peru and reaffirmed its operational focus on its advanced-stage projects in Nevada, United States.

Force majeure declared on Lucero project : The company formally invoked the force majeure clause under its agreement with Condor Resources Inc. with respect to the Lucero project due to a combination of social, regulatory and political barriers, which have effectively prevented the company from lawfully executing planned exploration and development activities, despite holding full mineral rights.

Over the next 12 months, Element79 will:

• Continue monitoring regulatory developments, particularly the anticipated implementation of MAPE legislation, which may clarify formalization mechanisms between artisanal miners and mineral right holders;
• Maintain social outreach campaigns in Chachas through the company's social engagement team, GAE Peru, preparing the groundwork for continuing engagement pre- and postmunicipal elections in early 2026;
• Continue dialogue with Condor Resources to explore restructuring the terms of the original Lucero agreement, with the goal of establishing a more reasonable, flexible and mutually beneficial framework as on-the-ground conditions allow for meaningful work to resume at Lucero.

Strategic focus shift to Nevada projects - In line with this operational pivot, Element79 is reaffirming its near-term focus on its U.S.-based assets:

• The company will retain and advance development at the Elephant project in Nevada. A technical report to formally organize historical work under the National Instrument 43-101 framework, coming work plan and exploration campaign are currently being finalized and will be publicly disclosed shortly.
• The acquisition of the Gold Mountain project, a drill-ready asset also located in Nevada, is expected to close as soon as possible, pending administrative timelines surrounding Canada Day and U.S. Independence Day holidays. A comprehensive development plan will be issued thereafter.

Corporate outlook - As Element79 aligns its capital and human resources to near-term executable projects, the company remains committed to:

• Unlocking shareholder value through strategic asset optimization;
• Derisking its project portfolio by prioritizing jurisdictions with clear permitting paths;
• Continuing stakeholder engagement to support long-term success at Lucero when conditions become viable;
• Changes to the board of directors and management to reflect the evolving business model.

On June 27, 2025, Element79 Gold Corp. announced that it has provided a notice of force majeure (“ Notice ”) to Condor Resources Inc. (“ Condor ”) to temporarily suspend payment obligations under the Lucero Project Agreement entered into between Calipuy Resources Inc. (“ Calipuy ”), a wholly owned subsidiary of the Company, and Condor on December 21, 2020 (the “ Lucero Agreement ”).

The Company has faced significant difficulties in advancing the Lucero Project since the acquisition of Calipuy on June 19, 2022. As a result of conflicts with the local community, significant delays of relevant governmental authorities to act on necessary legislation and policies, and municipal inaction preventing the enforcement of mineral claims, Element79 has been unable to access the Lucero Project and perform exploration or commercial mining operations (“ Force Majeure Event ”). As such, the Company provided the Notice to Condor today to suspend payment obligations until the sooner of the end of the Force Majeure Event or twenty-four (24) months from the date of the Notice. At this time, the Company is uncertain as to when the Force Majeure Event will cease.

Element79 remains committed to advancing the Lucero Project and developing the Lucero Project into a commercially viable mining operation. The Company is currently in the process of pursuing alternatives to push the Project forward and work collaboratively with stakeholders to end the Force Majeure Event. The Company will continue to update stakeholders as the situation develops, as and when appropriate.

On May 22, 2025, Element79 Gold Corp. has been informed about recent developments affecting the mining sector in Peru, where the company's flagship Lucero project is located.

Highlights:

The Peruvian government has enacted Supreme Decree No. 009-2025-EM , transferring oversight of small-scale and artisanal mining from regional governments to the Ministry of Energy and Mines (Minem).

The deadline for the mandated formalization of Reinfo (Comprehensive Mining Formalization Registry) permit holders with mineral right holders has been extended until Dec. 31, 2025, giving operators more time to formalize.

Minem's Directorate General of Mining Formalization will now handle all administrative, monitoring and enforcement processes related to mining formalization. Reform is grounded in Law No. 32213, published in December, 2024.

A new national traceability platform (SIPMMA) is being launched to improve transparency and monitoring of registered small-scale mining operations.

The reform has raised concerns among regional governments over loss of local oversight and potential impacts on decentralized governance.

Element79 Gold supports centralized oversight if implemented with community engagement and regional collaboration.

The Lucero project remains a core focus, with continued efforts to formalize local artisanal miners and advance exploration toward production.

The company reaffirms its commitment to social investment and long-term community relationships in Chachas and surrounding areas.

Following success in Nevada asset development and sales, Element79 Gold will reignite strategic initiatives in that jurisdiction.

"We are closely monitoring this policy shift and its implementation," commented James Tworek, chief executive officer and director of Element79 Gold. "Given Lucero's location and strategic focus within the artisanal and small-scale mining segment, we view enhanced regulatory structure and centralized oversight as potentially beneficial, provided that community engagement and regional collaboration remain part of the process."

On May 14, 2025, Element79 Gold Corp. has been approved to have its common shares uplisted from the OTC Pink market to the OTCQB Venture Market. The successful uplisting is effective May 14, 2025, and the company's common shares will continue to trade under the ticker symbol ELEM in Canada, ELMGF in the United States and 7YS0 in Frankfurt.

Element79 believes the uplisting will boost visibility to a broader universe of investors and provide improved liquidity for its stock as the company advances its flagship Lucero project in Peru and completes the plan of arrangement spinout of its Dale property through its subsidiary, Synergy Metals Corp. The OTCQB is the premier marketplace for developing companies, including those in the medical technology sector.

James Tworek, Element79's chief executive officer and director, commented, "Uplisting to the OTCQB Venture Market is an important milestone for our company and reflects our commitment to improving corporate transparency, increasing share trading liquidity and expanding the universe of potential investors."

On May 07, 2025, Element79 Gold Corp. provided the following updates on multiple corporate initiatives underway:

Update on Sale of Nevada Assets to 1472886 BC Ltd.

As first outlined in the Company’s news release on September 9, 2024, and updated on October 10, 2024, the Company has made multiple attempts to push this transaction towards completion, with the counterparty being unable to meet terms required to complete a successful closing. As the original timelines of the LOI have expired, the Company holds that the contract with 1472886 BC Ltd. is null and void and has restarted conversations with alternate parties that have expressed interest in the purchase of the Stargo, Elder Creek and North Mill Creek projects.

Update on Financing: Crescita Capital Note Draw

In the month of April 2025, Crescita issued CAD $100,000 of capital to the Company, for use in advancing community efforts for the Lucero project, investor relations activities and general corporate purposes. Similar to the first draw from the new 2025 Crescita Draw Down Facility as announced on February 28, 2025, the convertible note drawn will carry a simple interest rate of 15% per annum until repaid or converted into shares of the Company.

The general use of funds for any financing efforts that the company engages in in the immediate term, including the strategic sale of corporate assets, will be sequentially to pay mineral leases for its projects in Peru and Nevada; complete its OTCQB uplisting; general corporate operating expenses and address key accounts payable.

On May 01, 2025, Element79 Gold Corp. announced that, in connection with its previously announced proposed arrangement transaction with Synergy Metals Corp. (" Synergy ") pursuant to an arrangement agreement dated January 10, 2025 (the “ Arrangement Agreement ”), it has entered an amending agreement dated April 30, 2025, to extend the proposed deadline for completion of the transactions contemplated by the Arrangement Agreement to August 31, 2025.

The Company also announces that, in connection with the previously announced amalgamation anticipated to follow such arrangement pursuant to a merger agreement dated January 10, 2025 (the " Merger Agreement "), between Synergy, Synergy’s wholly owned subsidiary, 1515041 B.C. Ltd. (“ Synergy SubCo ” ) , and 1425957 B.C. Ltd. (“ 142 ”), it has entered an amending agreement dated April 30, 2025, to extend outside date for completion of the transactions contemplated by the Merger Agreement to August 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 its press release dated January 13, 2025.

April 17, 2025, Element79 Gold Corp. Provides Update on Chachas General Assembly

https://www.thenewswire.com/press-releases?id=1k6WF4d9w

March 28, 2025, Element79 Gold Corp. Provides Chachas Community Update

https://www.thenewswire.com/press-releases?id=1ArbFmgjv

March 11, 2025, Element79 Gold Corp. Provides Update on Social Management and Community Engagement for the Minas Lucero Project

https://www.thenewswire.com/press-releases?id=1AlpFV8pG

March 6, 2025, Element79 Announces Revocation of MCTO

Effective March 5, 2025, the B.C. Securities Commission has revoked the temporary management cease trade order, which prevented Element79 Gold Corp.'s officers, board and insiders from trading in the company's securities but did not affect the ability of other shareholders, including the public, to trade in the securities of the company.

https://www.thenewswire.com/press-releases?id=1Bz4F5PMd

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