Element79 Gold Corp. announced a non-brokered private placement of up to 5,309,735 common shares at a price of CAD 0.113 per share for the gross proceeds of up to CAD 600,000 on December 19, 2023. In accordance with applicable Canadian securities laws, all securities issued pursuant to the private placement will be legended with a hold period of four months and one day from the date of issuance.

The transaction 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.