Acquisition Of Nevada Gold Portfolio

VANCOUVER - Element79 Gold Corp. has fully closed on an asset purchase agreement acquiring the flagship Maverick Springs Project and 15 additional Projects that comprise the Battle Mountain Portfolio, located in the gold mining regions of northeastern Nevada.

"With the acquisition of the Maverick Springs Project and the Battle Mountain Portfolio closed, Element79 Gold affirms its place within the premier gold mining district in North America," CEO and President, James Tworek, said. "As the worldwide economy moves into an inflationary environment, there is no better time to implement the next phase of our accelerated development strategy."

The Maverick Springs Project hosts a historic gold (Au) equivalent resource of 1.7 million ounces (indicated) and 1.9 million ounces (inferred), with cutoff grade of 34.3 g/t silver equivalent. Element79 Gold is not treating this historic estimate as current mineral resources and a qualified person has not reviewed the work to define the quality of work associated with this historic estimate. The Maverick Springs Project consists of approximately 4,800 acres across 247 unpatented claims that straddle the border of Elko County and White Pine County, proximate to the Carlin Trend, a belt of gold deposits approximately 5 miles wide and 40 miles long.