Elevation Gold Mining Corporation reported updated Mineral Reserve, Mineral Resource estimates and Technical Report for its Moss Mine, located in Mohave County Arizona. Elevation Gold's new leadership believes the Moss Mine and surrounding 168 square kilometer land package possesses unrealized gold exploration potential. Consequently, the Company began an aggressive near mine and regional exploration drilling program in March of this year to deliver new resource ounces while beginning to demonstrate the potential of the property. The updated Mineral Reserve and Resource Estimates will be included in a technical report (the Technical Report), to be filed on SEDAR under the Company's profile within 45 days of this press release. The Technical Report represents an interim update, which only incorporates the results of the drilling to a May 24, 2021, cut-off. Since this cut-off date, Elevation has completed approximately 100 drill holes and continues to encounter significant mineralization, which are not included in the Mineral Resource and Mineral Reserve estimates presented in this new Technical Report. Technical Report Highlights: Proven and Probable Mineral Reserves of 12,744 ktonnes with grades of 0.45 g/t gold and 5.4 g/t silver containing 184,500 ounces of gold and 2.2 million ounces of silver; Measured and Indicated Mineral Resources of 38,857 ktonnes with grades of 0.39 g/t gold and 4.6 g/t silver, containing 490,200 ounces of gold and 5.75 million ounces of silver with Inferred Mineral Resources of 6,562 ktonnes with grades of 0.35 g/t gold and 4.5 g/t silver, containing 73,800 oz gold and 940,000 oz silver; Life of Mine plan only based on the Proven and Probable Mineral Reserve estimate extends the Moss Mine Life to 2025, mining ore at 11,000 tons per day, with an average strip ratio of 0.88:1; Pre-tax NPV(5%) $50.8 million, after-tax NPV(5%) $45.3 million at $1,700/oz gold and $18.50/oz silver. Mineral Reserves and Resources: The current reserves are larger than the total ounces produced by the mine to date, demonstrating ability to replace ounces through exploration. The Proven and Probable Reserve estimate was constrained by the existing infrastructure of the mine. In the future, infrastructure may be relocated to allow the Moss Mine to realize the full economic benefits of the additional near mine mineralization being defined by the ongoing exploration drilling program. The final pit design and internal phase designs that contain the Mineral Reserve were guided by the results of the Lerchs-Grossman (LG) algorithm using the following parameters. The inputs in were chosen early in project work and therefore are similar to but different from the final costs and recoveries reported in the Technical Report. A check was completed at the end of project work to confirm the designed ultimate pit geometry was appropriate for the updated costs and recoveries. Mineral Resources: The updated Mineral Resource estimate represents a 36% increase in Measured and Indicated Resources when compared to December 2019 Mineral Resource Estimate. Elevation Gold's history of being able to replace and expand on Measured and Indicated Resources, as well as improved understanding of the geological controls on mineralization at the Moss Mine bodes well for Elevation Gold's ability to further expand the Mineral Resources going forward.