Element79 Gold Completes Phase One Infrastructure Program at Gold Mountain and Initiates Drill Contractor Selection Process

Executive Summary

• Element79 Gold Corp. has successfully completed Phase One field operations at its wholly owned Gold Mountain Project in Nevada, completing critical infrastructure preparation for upcoming exploration.
• The company has transitioned the project to a drill-ready status and has commenced soliciting and evaluating bids from qualified drilling contractors for its inaugural exploration drill program.
• The planned drilling campaign will test priority targets identified in a NI 43-101 report, focusing on a large intrusive-related gold system with associated base metals that remains largely untested by modern exploration methods.

Key Details

• Project Location: Gold Mountain Project, Nevada's Battle Mountain mining district (wholly owned).
• Phase One Scope Completed: Rehabilitation and improvement of existing access roads, extension of project road infrastructure, and construction of permitted drill pads.
• Execution & Permitting: Work performed by Pinion Exploration Inc.; completed following the successful renewal of the drilling permit and posting of the reclamation bond.
• Current Status: Actively soliciting and evaluating bids from qualified drilling contractors for the inaugural Phase One drill program.
• Technical Targets: Priority targets identified through a NI 43-101 report; project hosts a large intrusive-related gold system with associated copper, molybdenum, silver, lead, and zinc mineralization.
• Historical Context: Historical drilling and surface work demonstrate widespread mineralization across the project area, which remains largely untested by modern exploration methods.
• Next Steps & Timeline: Contract award pending completion of the bid review process; further updates regarding drill program timing, scope, and target selection will be provided as planning progresses.
• Qualified Person: Kim Kirkland, Director of Element79 Gold Corp, Fellow of AusIMM #309585.

Notable Quotes

• Michael Smith, President and CEO: "The completion of road construction and drill pad development represents a significant milestone for the Gold Mountain Project... The project has now transitioned from permitting and infrastructure preparation into a drill-ready asset. We are actively engaging drilling contractors and look forward to advancing Gold Mountain through its first modern exploration drill campaign."