Element 79 Gold Corp. Announces Non-Brokered Private Placement to Raise Funds for Mining Operations in Peru

Element 79 Gold Corp. (CSE:ELEM) (OTC:ELMGF) (FSE:7YS), a mining company focused on gold and silver production in Peru, has announced its intention to raise up to $250,000 through a non-brokered private placement. The funds raised will be used to support various aspects of the company’s mining operations, including mineral lease fees, community relations, contractual and exploration work in Peru, and general working capital.

The private placement will consist of units of the company, with each unit priced at $0.23. Each unit will include one common share of Element 79 Gold and one common share purchase warrant, exercisable for one common share at a price of $0.35 per share for a period of four years from the date of issuance.

James Tworek, CEO of Element 79 Gold, expressed his satisfaction with the opportunity to accommodate interested investors and business partners who were unable to participate in the previous financing round. This private placement allows them to be part of the company’s growth and development.

It is important to note that all securities issued as part of this 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 approval from the Canadian Securities Exchange.

Element 79 Gold Corp. is committed to responsible mining practices and sustainable development. The company’s primary focus is on the Lucero project, a high-grade gold and silver mine located in Arequipa, Peru. With plans to restart production in 2024, Element 79 Gold aims to maximize shareholder value through the development of its projects.

In addition to the Lucero project, Element 79 Gold holds a portfolio of five properties along the Battle Mountain trend in Nevada. The company believes that the Clover and West Whistler projects have significant potential for near-term resource development. Furthermore, three properties in the Battle Mountain Portfolio are under contract for sale to Valdo Minerals Ltd., with an anticipated closing date in 2024.

Through its subsidiary, Synergy Metals Corp., Element 79 Gold also holds an option to acquire a 100% interest in the Dale Property, which consists of 90 unpatented mining claims located southwest of Timmins, Ontario.

For more information about Element 79 Gold Corp. and its projects, please visit their website at www.element79.gold.

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