Gold79 Mines Ltd. announced that it has defined an exploration target at the Tyro Main Zone, the first potential resource area, on the Gold Chain Project in Arizona (the "Exploration Target"). Gold79 believes that the Tyro Main Zone has the potential for 15.6 to 31.2 Mt grading 1.5 to 2.5 g/t Au. This is based on previous exploration on the property, including 685.7 metres of drilling along with surface sampling (95 samples), sampling of historical underground workings (56 samples) and detailed mapping.

The Exploration Target was derived by modeling the Tyro Vein System within the Tyro Main Zone. The volume of the modeled areas determines the potential tonnage statement in the Exploration Target. The grade range given in the Exploration Target is determined with consideration to the drill results within the modeled Exploration Target area and consideration of the geological setting in an established gold camp where mineralization typically extends to a depth of at least 300 metres.

The potential quantity and grades are conceptual in nature. There has been insufficient exploration drilling to define a mineral resource and it is uncertain if further exploration will result in the Exploration Target being delineated as a mineral resource. The highlights in this update include: To generate a potential maiden resource at the Tyro Main Zone, additional core and reverse circulation (RC) drilling is proposed along with mechanized sampling of surface vein exposures.

The Tyro Main Zone Exploration Target is limited to only 1 kilometre of the 3.4 kilometre strike length of the full Tyro vein system. The initial target at the Tyro Main Zone excludes the adjacent targets identified at the historic Banner and Sheep Trail Mines (previous drilling at Banner by Gold79 returned 10.7 grams per tonne Au over 3.1 metres in drill hole GC21-08). The Tyro Main Zone Exploration Target also excludes the Frisco Graben to the northeast, where continuing work indicates the upper levels of a potential low sulfidation epithermal gold system over an extent of 4 kilometres.

Tyro Main Zone Exploration Target: The Tyro Main Zone consists of the historic Tyro Mine (with production from two-levels of underground workings and a small slot pit) and the Decimal Hill area. The 1,000-metre extent considered in this Exploration Target is contained within 15.6 to 31.2 Mt grading 1.5 to 2.5 g/t Au and is located entirely on 3 patented claims controlled by Gold79. The work completed to date by Gold79 at the Tyro Main Zone includes: 685.7 metres of RC drilling.

95 surface rock chip samples. 56 chip channel samples from the underground workings. Detailed geologic mapping of the mine workings, patented claims and surrounding BLM claims. Using this data, Gold79 has defined the Exploration Target over the 1,000-metre strike length of the Tyro Main Zone and down to a depth of 300 metres.

The Exploration Target effectively excludes the potential high-grade zone intersected with drill hole GC23-28 (which included 9.1 metres at 51.09 grams per tonne gold). This potential high-grade zone was excluded since it has only been intersected in one drill hole to date and would materially skew the potential grade range higher. It should be noted that similar grades in line with GC23-28 were documented to have been mined historically (pre-1940) at the Tyro underground mine.

The dimensions of the Exploration Target are based on surface sampling, detailed mapping, and drilling for strike length and width. The 300-metre depth is consistent with the depth of mineralization encountered in neighboring veins (i.e. Katherine, Arabian and the Oatman district). The potential quantity and grades estimated for the Tyro Main Zone Exploration Target are conceptual in nature, and there has been insufficient exploration completed to date to define a mineral resource.

It is uncertain if further exploration will result in the Tyro Main Zone: Exploration Target being delineated as a mineral resource. Path to a Resource at the Tyro Main Zone Gold79 believes it has a unique opportunity to define a gold resource with minimal additional investment over a short period of time. Modelling of the existing database has identified areas where additional exploration is needed to support a maiden inferred resource estimate.

Gold79 believes that to define a maiden resource at the Tyro Main Zone to a depth of approximately 150m the following work is required. Trenching - 24 trenches (~1,100 metres); Core Drilling - 750 to 1,250 metres; RC Drilling - 1,500 to 2,500 metres. The planned trenching program is expected to help define widths and gold grade in mine and surface exposures.

The accessible mine workings have already been sampled. Many of the roads required for this work were constructed in the 1980s and surface access/disturbance should not require a permit. It is important to note that each step in the exploration process will define the scale required at the subsequent step.

The potential quantity and grade estimated for the Tyro Main Zone Exploration Target is conceptual in nature, and there has been insufficient exploration completed to date to define a mineral resource. It is uncertain if further exploration will result in the Tyro Main Zone Exploration Target being delineated as a mineral resource.