Element79 Gold Corp. announced additional underground chip sample assay results from the 2023 work campaign at the Pillune Area of the Lucero mine project in Arequipa, Peru. Assays from 2023 underground grab- and channel samples completed by SLM Resource Group from the Pillune Area of the past-producing Lucero mine project have been received, reviewed and reporting here.

Multi-ounce Gold and Multi-ounce Silver, reinforce the significant potential of restarting this past-producing mine today. 10.5 oz/t Gold and >29 oz/t Silver in sample LUC2023-33. 4.7 oz/t Gold and > 29 oz/t Silver in Sample LUC2023-34.

Further lab assays from remaining 2023 work campaigns are being received shortly and will be released as soon as available. The assay results were collected during the 2023 program consists of underground chip samples across several veins from the Apacheta Zone which retuned up to 11.7 oz/t gold and 247 oz/t silver (see April 27th 2024 news release), Pillune Area (the focus of this release), and Sando Alcalde. Area, where local Informal miners have worked sporadically for the last several years.

Sample, Au, Au, Ag, Cu, Pb, Zn, Vein, Number, g/tonne, Oz/ton, %, %, %, width (m), LUC2023-22, 1.0, 0.03, 30, 0.02, 0.05, LUC2023-23, 2.8, 0.08, 0.01, 0.26, 0.18, 0.05, L UC2023-24, 0.2, 0.01, 23, 0.09, 0.88, 0.23, 0.17, 0.30, LUC2023-25, 1.3, 6, 0.03, 0.04, 6, 0.17,0.17, 0.10, LUC2023-26, 8.0, 0.23, 205, 6.0, 0.12, 0.18, 0;18, 0.18, 0.,10, LUC2023, 24.2, 0.32, 24, 0.7, 0.15, 0.31, 0.46, 0.10, L UC2023-29, 24.5 oz/t, 0.71, 1.06, 1.35, 0.30, 0.30, L UC2023-30, 36.0, 1.05, 48, 1.4, 0.18, 1.41, 0.54, 0.30, 0.,30, LUC2023, 28.0, 0.82, 0.82, 0; and 4.7 oz/t Silver in SampleLUC2023-34.