Gold Chain Project Scheduled For Drilling In Early 2023

OTTAWA - Gold79 Mines Ltd. reported that it is ready to execute a 1,100 meter drill program at its Gold Chain Project, in Arizona in early 2023. The Company has secured a drill contractor and completed site preparation to commence drilling in early 2023. The drill program will focus on following up the high-grade sampling results from Sheep Trail and demonstrating the strike extent of the Tyro vein system to the southwest.

Derek Macpherson, President, CEO & Director, said, "Our recent financing, the option agreement with Kinross at Jefferson Canyon and sale of non-core assets have strengthened the Company's balance sheet and allows Gold79 to undertake this 1,100-meter drill program at the Company's Gold Chain Project in Arizona. While we view demonstrating the strike extent of the Tyro vein as a logical step towards developing a resource, I believe that following up on high-grade sampling results at Sheep Trail, approximately 2 kilometers away from our 2021 high-grade drill results in the Banner area, could go a long way toward demonstrating the higher-grade nature and overall scale of the Gold Chain project."