Gold79 Mines Ltd. announced that it is ready to execute a 1,100 meter drill program at its Gold Chain Project, in Arizona in early 2023. The Company has secured a drill contractor and completed site preparation to commence drilling in early 2023. The drill program will focus on following up the high-grade sampling results from Sheep Trail and demonstrating the strike extent of the Tyro vein system to the southwest.

Drilling Plan: The plan is to drill approximately 1,100m in 10 to 12 reverse circulation holes at Gold79's Gold Chain Project in Arizona focused on the Sheep Trail and Tyro vein systems. The split will be approximately 64% at Sheep Trail and 36% at Tyro. The drilling contractor has been secured and site preparation is complete. Drilling is expected to start in the first half of January 2023.

Sheep Trail Targets: This will be the first drilling by Gold79 at Sheep Trail, where despite numerous historical workings and gold-bearing outcrops, it does not appear that any modern exploration has occurred. The targets at Sheep Trail are approximately 2 kilometers east of the Company's Fall 2021 drilling on the Banner Claims that returned 3.1m at 10.68 g/t Au and 13.7m at 2.56 g/t Au. At Sheep Trail, drilling will focus on the Boulevard Mine area and The Golden Elbow.

At the Boulevard Mine area previous sampling returned up to 51.9 g/t Au and 1.5m at 10.5 g/t Au from both northwest-trending 'A-type' and northeast-trending 'B-type' veins, veinlets and breccia. Although partially concealed by talus deposits, surface exposures of the vein mineralization are up to 30 meters wide. Drilling will provide a better view of the vein system and contained gold grades.

Historical mine workings have been developed on several structural planes suggesting there could be multiple targets in the proposed holes. At the Golden Elbow, which appears to be a significant structural flexure in the North Oatman trend, sampling has identified at least 3 parallel mineralized zones across the dike complex. Chip samples include 6.0m of 3.96 g/t gold, 7.0m of 5.06 g/t gold and 3.7m of 19.52 g/t gold.

Drilling is planned to traverse these zones between 50 and 75 meters below these surface samples and workings. The historical mining focused on 1- to 3-meter-wide veins; however, mapping suggests the lower-grade stockwork zones envelope the higher grades creating much broader targets. Tyro Targets: Drilling at Tyro follows up on the Fall 2021 drilling which returned 21.3m at 2.0 g/t Au from the North end of the Tyro vein.

Additionally, 2022 underground sampling returned 25.4m at 2.53 g/t Au from the Central portion of the vein. The Phase Two drill program plans to test a 50-meter-wide zone of veins and breccia with little or no historical production on the Southwest end of the vein. Drilling success here would provide support for the approximately 1 km strike extent identified during sampling and mapping.