E79 Resources Corp. reported additional assay results from diamond drilling at its Happy Valley Gold Prospect on its Myrtleford property in Victoria, Australia. HIGHLIGHTS: Drill hole HVD010: Hole HVD010 intercepted a broad zone of mineralization at a depth of approximately 400m below surface and 200m below the historical mine workings; This is the deepest intercept at the Happy Valley Prospect to date and demonstrates a significant vertical extent of mineralization; Results include 3m @ 5.8 g/t gold (Au) from 390.0m and 0.6m @ 5.23 g/t Au from 374.4m within a broader zone, including 37.3m @ 0.9 g/t Au from 356.7m down hole.

Progress on Nearby Targets: Multiple quartz-sulphide-bearing structures have been intersected at the Franklin/Champion Reef Prospect; Assay results are still pending for drill holes HVD017, HVD018 and HVD019, and results will be made available once they are received; Drilling has commenced beneath historical workings at the Manager's Hill Prospect which is located approximately 500m northeast of the Happy Valley Prospect; At Twists Creek, which is approximately 40km north of Happy Valley, drilling is continuing and so far, the Company has completed 11 holes for approximately 2,700m. The Company will announce results from this program once it has received assay results from the lab. The latest intercepts from drill hole HVD010 represent the remaining assay results for this hole.

On February 1, 2022, the Company announced the first set of results for hole HVD010 which included 2.50m @ 12.92 g/t Au, from 306.50m including 0.50m @ 35.50 g/t Au. All drill results have now been received for holes HVD010 to HVD016. The final results from hole HVD010 include 3.0m @ 5.8 g/t Au and 0.6m @ 5.23 g/t Au.

True widths for hole HPV010 are estimated to be approximately 15-20% of down hole width. Hole HVD016 intersected the structure with anomalous gold intersections outside the now defined high-grade shoots. Hole HVD010 is the Company's deepest intercept at Happy Valley and extends the gold mineralization almost 400m below surface and remains open at depth.

The Company is now waiting for the results for the remaining three holes (HVD017-019) at the Happy Valley Prospect and detailed 3D geological interpretations are ongoing. The current exploration drilling focus has now shifted to nearby untested targets at the Franklin/Champion and Manager's Hill Prospects. The latest results from the current exploration program continues to validate the Company's geological model which postulates that high-grade gold mineralization extends to significant depths below historical gold mining areas.

A first-pass rock chip sampling (consisting of 71 samples) and mapping program of historical workings along the Happy Valley trend has now been completed with assay results to be released soon. The aim of this program is to identify multiple drill targets within the Happy Valley trend for future drill testing.