Maiden Diamond Drilling Program At Happy Valley Gold Prospect

VANCOUVER - E79 Resources Corp. reported commencement of its maiden exploration drilling program at the Happy Valley Gold Prospect on the Myrtleford property in Victoria, Australia. The diamond drilling program is designed to test for down-dip extensions of previously mined high-grade quartz lodes and provide detail on the structural and lithological controls on the mineralization for follow up drilling campaigns.

Rory Quinn, President and Chief Executive Officer, said, "This represents an important milestone in the evolution of the Company from one that has previously been focused on generating high-quality surface gold targets to a Company that is now actively drilling to discover primary hard-rock gold mineralization. We are excited to have the drill bit turning at Happy Valley. The Company is targeting down-dip extensions of high-grade gold (31g/t Au)1 historically mined at Happy Valley. This 7-8km trend of intermittent shallow workings has never been systematically explored at depth or along strike. We look forward to communicating early results from this drilling, soon."

Highlights: Drilling currently underway; Initial plan is for 1,000 meters of diamond drilling targeting down-dip extensions of previously mined quartz lodes at the Happy Valley Gold Mine, which historically produced at 31g/t Au; The majority of historic gold mining operations terminated at the water table, due to limited pumping capacity at the time; and The Happy Valley Mining Centre sits along a multi-kilometer trend which is defined by historic workings and has never seen modern, systematic exploration.

The Happy Valley Prospect is situated in the south eastern portion of the Company's Exploration License EL006724 located in Victoria, Australia. The Happy Valley Mining Centre has documented historic production of 34,200 ounces of gold predominantly during the period 1866 – 1875. Since that time only limited exploration has been conducted, despite the high-grade nature of the mineralization.

Next Steps: All core will be geologically and structurally logged, assessed for hydrothermal alteration and sampled for Au and multi-element geochemistry to aid in defining new target areas; The Company will use the observations from the initial results to develop a comprehensive structural model for the Happy Valley target area; A permit wide review and re-processing of geophysical data from the Myrtleford exploration license has begun to define additional targets; and This interpretation will be integrated with the drilling results to drive further targeting at Happy Valley and across the entire project area.