E79 Gold Mines Limited reported assay results from recent Reverse Circulation (RC) drilling at Target 3, within its Laverton South Gold Project in Western Australia. Best results from the Central Zone include: 1m @ 1.70 g/t Au from 103m, and 1m @ 1.35 g/t Au from 106m, and 1m @ 1.80 g/t Au from 110m within a broader anomalous zone of: 23m @ 0.45 g/t Au from 95m in drill-hole PRC009. 1m @ 1.60 g/t Au from 122m, and 1m @ 2.33 g/t Au from 128m within a broader anomalous zone of: 12m @ 0.58 g/t Au from 120 in drill-hole PRC010.

1m @ 1.78 g/t Au from 197m within a broader anomalous zone of: 5m @ 0.62 g/t Au from 197m also in drill-hole PRC010. 6m @ 0.36 g/t Au from 162m in drill-hole PRC008. Significantly, drill-hole PRC008 (6m @ 0.36g/t Au) ended in mineralisation and in PRC010 (5m @ 0.62g/t Au), mineralisation ended 2m from the bottom-of-hole.

Laverton South Project: Pinjin (100%) and Lake Yindana (100%): The Laverton South Project, with an area of 355km2, covers a southern portion of the Laverton Tectonic Zone (`LTZ') approximately 130km east-northeast of Kalgoorlie, within the major gold producing Archean Yilgarn Craton of Western Australia. Pinjin (E28/2283, E28/2284, E28/2375, E31/0999, E31/1005, E31/1007, E31/1056, E31/1082) E79 100%: E79 Gold recently completed 14 Reverse Circulation (RC) drill-holes for 2,490m at Target 3. This first-pass drilling was designed provide a deeper test of a significant 2.6-kilometre-long gold system identified from recent reconnaissance aircore drilling. Three anomalous gold zones were targeted by the deep RC drilling: the Western Zone, the Central Zone and the Southern Zone, all of which form large gold and gold pathfinder anomalies formerly concealed beneath a large regional paleochannel.

Assays from the RC program have revealed the presence of gold mineralisation and anomalism on multiple lines over the Central Zone, with gold mineralisation located on the eastern side of a granite, proximal to the granite/basalt contact. The gold is associated with an increase in pyrite content. All but two RC holes returned anomalous intersections.

The drilling has returned broad zones of anomalous gold intercepts within a pyritised granite at the Central Zone Target, with best results occurring over a strike length of 160m. Gold has been intersected to a depth of 202m, with multiple gold zones encountered within hole PRC010. A clear follow-up target is to drill underneath these broad zones of gold mineralisation on multiple sections, and especially drill holes PRC008 (ended in mineralisation), PRC009 and PRC010 (mineralised to 2m from end-of-hole).

Gold within pyritised contacts of a granite is a feature of some of the larger deposits within the Laverton Tectonic Zone such as Granny Smith, where gold is localised on the granite-greenstone contacts, and to the nearby Rebecca Gold Project, where drilling intersected high-grade zones of gold mineralisation within broader gold anomalism. Drilling at the Western Zone confirmed the anomalism identified in the aircore drilling but did not intersect anomalism at depth, while drilling at the Southern Zone intersected discrete zones of gold anomalism. The next stage of exploration will be to drill along strike to the north and south, and down-dip of the current results at the Central Zone, seeking to identify higher grade zones within this emerging large-scale gold system.

Laverton South Project: Lake Yindana (E28/2659, E28/3239) 100%: Lake Yindana covers an area of 215km2 in the southern portion of the +30Moz Laverton Tectonic Zone (LTZ), approximately 130km east-northeast of Kalgoorlie. The Project consists of a large untested greenstone belt, defined by corroborating magnetics and gravity data, as well as historic drilling, which runs for over 25km through the tenement. Lithologies from the historic drilling show gabbro, ultramafic and granitic gneiss, with the latter being a similar host rock to Ramelius Resources' Rebecca deposit, located 9km to the north-west.

In addition, interpretation of recent gravity data suggests the presence of intrusion-related targets within the greenstone stratigraphy. E79 Gold believes that the largest deposits are typically found early in new exploration search spaces, and the recently identified greenstone belt at Lake Yindana represents a `first mover' opportunity. Pinjin (E28/2283, E28/2284, E28/2375, E31/0999, E31/1005, E31/1007, E31/1056, E31/1082) E79 100%: The Pinjin Project covers 139km2 of prospective ground within the Laverton South Project.

Refer to page 3 of this announcement for details of the Pinjin Project. Murchison Project: Jungar Flats: (E51/1975, E51/1803, E51/1848, E20/0926, E51/2122) 100%, (E51/1681) 100% of Mineral Rights (excluding iron ore and ferrous minerals): The Jungar Flats Project, in the North Murchison region, is located 70km west of Meekatharra and 45km north-northeast of the 2.8Moz Big Bell gold deposit. The Project tenure covers an area of 541km2, contains approximately 90km of strike of the highly prospective Big Bell Shear, and straddles a narrow north-south trending greenstone belt.

Planned and Recent Activities: E79 Gold is planning to continue busy and active programs over the Laverton South and Jungar Flats (Murchison) Projects including: February-March 2023 Release of AC, RC and auger samples as they become available February 2023 Attend RIU Explorers Conference Fremantle; March 2023 Commence AC and RC drilling at Laverton South Project; May 2023 Commence drilling at Murchison Project; May 2023 Present at RIU Sydney Conference; May 2023 Present at RRS Conference on Gold Coast.