Element79 Gold Announces Raise to Fund Lease Fees and Ongoing Exploration Work in Peru

Element 79 Corp. (CSE:ELEM) (OTC:ELMGF) (FSE:7YS) a mining company focused on the production of gold and silver in Peru, announces that the Company wishes to raise up to $250,000 through a non-brokered private placement of units  of the Company (each a “Unit”) at a purchase price of $0.23 per Unit (the “Financing”).

Each Unit will be comprised of one common share of the Company (a “Common Share”) and one common share purchase warrant (each a “Warrant”). Each Warrant will be exercisable for one Common Share at a price of $0.35 per Common Share for four (4) years from the date of issuance.

We had several interested investors and business partners that were not able to be accommodated in the last round of financing and we are pleased to be able to have them participate in this round.James Tworek, CEO, Element 79 Corp.

The proceeds of the Financing will be used for funding mineral lease fees, ongoing community relations, contractual and exploration work in Peru, and general working capital.

In accordance with applicable Canadian securities laws, all securities issued pursuant to the Financing will be subject to a statutory hold period of four months and one day from the date of issuance. The closing of the Financing is subject to the approval of the Canadian Securities Exchange.

The securities of the Company referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such an offer, solicitation or sale would be unlawful.

About Element79 Gold Corp

Element79 Gold is a mining company focused on gold and silver committed to maximizing shareholder value through responsible mining practices and sustainable development of its projects.  Element79 Gold’s focus is on developing its past-producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to restart production beginning in 2024.

The Company also holds a portfolio of 5 properties along the Battle Mountain trend in Nevada, with the Clover and West Whistler projects believed to have significant potential for near-term resource development. Three properties in the Battle Mountain Portfolio are under contract for sale to Valdo Minerals Ltd., with an anticipated closing date in 2024.

The Company, through its subsidiary, Synergy Metals Corp., holds an option to acquire a 100% interest in the Dale Property, 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, and is advancing through the Plan of Arrangement spin-out process.For more information about the Company, please visit www.element79.gold

Element79 Gold is a market awareness client of Capital 10X. For more information, including potential conflicts of interest please see our Content Disclaimer.

Duane Hope is a Partner at Capital 10X, he brings over 15 years of communications and research experience to the firm. His research and writing have appeared in publications for North American, European and Asian audiences.


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