Element79 Gold Corp. Provides Corporate Guidance and Strategic Update for Remainder of 2025

(TheNewswire)

Vancouver, BC – TheNewswire – June 30, 2025 -  Element79Gold Corp. (CSE: ELEM | FSE: 7YS0 | OTC: ELMGF)("Element79" or the "Company") announces itsforward corporate guidance for the remainder of 2025, outlines recentstrategic developments regarding its Lucero Project in Peru, andreaffirms its operational focus on its advanced-stage projects inNevada, USA.

Force
Majeure Declared on Lucero Project

The Company formally invoked the force majeure clause
under its agreement with Condor Resources Inc. with respect to the
Lucero Project due to a combination of social, regulatory, and
political barriers which have effectively prevented the Company from
lawfully executing planned exploration and development activities,
despite holding full mineral rights.

A force
majeure event refers to unforeseen circumstances
beyond a party’s control—such as acts of government, social
unrest, or natural disasters—that prevent contractual obligations
from being fulfilled. In the case of Lucero, the following factors
have contributed to the declaration:

• Evolving and inconsistent Peruvian
  federal policies on small-scale mining
  formalization, creating uncertainty in legal enforceability and
  timelines. 
  

  
  

• Political instability and leadership
  vacuums, with current municipal governance in
  Chachas in transition and the outgoing mayor largely absent from the
  community. 
  

  
  

• Legacy community mistrust and unmet
  promises from prior owners, complicating local
  engagement efforts. 
  

  
  

• Ongoing unauthorized artisanal
  mining by community members operating outside
  legal frameworks and without formalized agreements. 
  

  
  

Element79 has spent two and a half years of extensive,
evolving efforts to foster community relationships and negotiate
access agreements in good faith, and the Company believes in
developing a win-win solution with the Chachas community for the
restart of the past-producing Lucero mine, the tailings and
development of a regional processing plant, and exploring the
geological assets inside the Lucero concessions.  The Company and its
contracted financial consultants remain staunchly optimistic to fund
future development at Lucero as agreements for surface rights
agreements are reached.  In the short-term, internal reports and
formal feedback from its social engagement team (GAE Peru) and
regional mining authorities (DREM Arequipa) suggest that no material
progress toward surface rights agreements is likely for the remainder
of 2025.  

Path
Toward Resolution and Reworking Terms with Condor Resources

Over the next 12 months, Element79 will:

• Continue monitoring regulatory developments,
  particularly the anticipated implementation of MAPE legislation,
  which may clarify formalization mechanisms between artisanal miners
  and mineral right holders. 
  

  
  

• Maintain social outreach campaigns in Chachas through
  the Company’s social engagement team, GAE Peru, preparing the
  groundwork for ongoing
  engagement pre- and post-municipal elections in early 2026 
  

  
  

• Continue ongoing dialogue with Condor Resources to
  explore restructuring the terms of the original Lucero agreement, with
  the goal of establishing a
  more reasonable, flexible and mutually beneficial
  framework as on-the-ground conditions allow for
  meaningful work to resume at Lucero. 
  

  
  

Strategic Focus Shift to Nevada Projects

In line with this operational pivot, Element79 is
reaffirming its near-term focus on its U.S.-based assets:

• The Company will retain and advance development at the Elephant
  Project in Nevada. A technical report to
  formally organize historical work under the 43-101 framework, upcoming
  work plan and exploration campaign are currently being finalized and
  will be publicly disclosed shortly. 
  

  
  

• The acquisition
  of the Gold Mountain Project, a drill-ready
  asset also located in Nevada, is expected to close as soon as possible, pending
  administrative timelines surrounding Canada Day and U.S. Independence
  Day holidays. A comprehensive development plan will be issued
  thereafter. 
  

  
  

Corporate Outlook

As Element79 aligns its capital and human resources to
near-term executable projects, the Company remains committed
to:

• Unlocking shareholder value through strategic asset
  optimization. 
  

  
  

• De-risking its project portfolio by prioritizing
  jurisdictions with clear permitting paths. 
  

  
  

• Continuing stakeholder engagement to support long-term
  success at Lucero when conditions become viable. 
  

  
  

• Changes to the board of directors and management to
  reflect the evolving business model 
  

  
  

About Element79 Gold Corp.

 Element79 Gold Corp. is a mining company focused on
the exploration and development of high-grade gold and silver assets.
Its principal asset is the past-producing Lucero Project in Arequipa,
Peru, where it aims to resume operations through both conventional
mining and tailings reprocessing. In the United States, the Company
holds interests in multiple projects along Nevada's Battle Mountain
Trend.  Additionally, Element79 Gold has completed the transfer of its Dale Property in Ontario to its wholly owned
subsidiary, Synergy Metals Corp., and is progressing through the Plan
of Arrangement spin-out process.

For further information, please visit: www.element79.gold

On Behalf of the Board ofDirectors

 James C. Tworek

 Chief Executive Officer, Director

 Element79 Gold Corp.

jt@element79.gold

Cautionary Note Regarding ForwardLooking Statements

This press release containsforward-looking statements within the meaning of applicable securitieslaws. The use of any of the words "anticipate,""plan," "continue," "expect,""estimate," "objective,""may," "will," "project," "should,""predict," "potential" and similar expressions areintended to identify forward-looking statements. In particular, thispress release contains forward-looking statements concerning theCompany’s exploration plans, development plans and the Force MajeureEvent. Although the Company believes that the expectations andassumptions on which the forward-looking statements are based arereasonable, undue reliance should not be placed on these statementsbecause the Company cannot provide assurance that they will provecorrect. Forward-looking statements involve inherent risks anduncertainties, and actual results may differ materially from thoseanticipated. Factors that could cause actual results to differ includeconditions in the duration of the Force Majeure Event, and receipt ofregulatory and shareholder approvals. These forward-looking statementsare made as of the date of this press release, and, except as requiredby law, the Company disclaims any intent or obligation to updatepublicly any forward-looking statements.

Neither the Canadian SecuritiesExchange nor the Market Regulator (as that term is defined in thepolicies of the Canadian Securities Exchange) accepts responsibilityfor the adequacy or accuracy of this release.

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