Element79 Gold Corp. to Acquire Gold Mountain Project in Nevada

Vancouver, BC — June 17, 2025 — NewsWall — Element79 Gold Corp. (CSE: ELEM | FSE: 7YS0 | OTC: ELMGF) has announced it has entered a Letter of Intent (LOI) to acquire 100% interest in the Gold Mountain Project in Lander County, Nevada. The Gold Mountain Project consists of 34 unpatented lode mining claims spanning approximately 284 hectares in the Battle Mountain mining district.

The company intends to acquire all rights, title, and interest in the Gold Mountain Project, which includes 34 unpatented mining claims, along with related data, permits, and equipment. In exchange, Element79 Gold will issue 100,000,000 common shares to the Vendor at a deemed price per share equal to the lesser of C$0.02, or the volume-weighted average price (VWAP) of the Company’s shares over the ten (10) trading days preceding the closing date.

The completion of the transaction is subject to customary conditions, including satisfactory due diligence, execution of a definitive asset purchase agreement, and receipt of all required regulatory and corporate approvals. Closing is targeted for around June 30, 2025.

Element79 Gold also announced it has entered a settlement agreement with NQ Holdings Inc. to resolve a dispute related to overlapping mining claims in Lander County, Nevada. The company has agreed to transfer and abandon its interest in the EC01 to EC23 unpatented mining claims, known as the “Elder Creek Claims.” In consideration, Element79 received a cash payment of USD $14,000 from NQ Holdings Inc.

James C. Tworek, CEO and Director of Element79 Gold, said the acquisition drives their corporate pivot back to a primary focus Nevada-focused strategy. Kim Kirkland, Fellow of AusIMM #309585, Chief Operating Officer of Element79 Gold Corp, reviewed and approved the technical information in this release.

Contact: James C. Tworek, Chief Executive Officer, E-mail: jt@element79.gold, Phone: +1.403.850.8050

Contact: Investor Relations Department, E-mail: investors@element79.gold

Source: Element79 Gold Corp.