E79 Resources Corp. reported high-grade gold intersections at its inaugural drill program at the Twist Creek Prospect located 40km north of the Happy Valley Prospect at its Myrtleford Project in Victoria, Australia. At the Scandinavian Prospect, three drill holes were completed (TWD003, TWD004 and TWD006) targeting beneath the historical workings detected and mapped via aerial LiDAR surveys last year.

These high-grade drilling results with gold up to 43 g/t, and elevated base metals up to 1.3% lead and 0.25% zinc are located 65m below surface and remain open at depth. Further to that, shallow historical stopes and voids, where mining was previously undertaken, were intersected in all holes with low-grade gold observed in the footwall of these mined out voids in drill hole TWD006. These targets remain untested in the hanging wall of the higher-grade zones observed.

Although historical records of these workings are not available, they underline the potential for this prospect and what remains both below and along strike. Two holes were also completed at the Polar Star Prospect, where both holes intersected the targeted subvertical structure which returned encouraging results including 7m @ 0.6 g/t Au from 101m, including 1m @ 1.53 g/t Au and 1m @ 1.44 g/t Au. All drill holes were drilled on inclinations ranging between -31 and -61 degrees and drilled as perpendicular to the targets as the drill sites would allow.

Historical mining operations were undertaken on subvertical steeply dipping quartz vein structures. Drill core intersection angles of the quartz vein structures range between 35 and 50 degrees to the core axis, so the true width is expected to be between 40 and 70% of the downhole width. Following the high-grade gold discovery hole at Happy Valley where drilling intersected 11.1m @ 160.45 g/t Au (hole HVD003), the Company made a commitment to ramp up drill activities to test the Twist Creek targets containing up to six lines of reef over a 3km strike length (within the 7km long trend) that were historically mined with grades up to 2 ounces of gold per tonne.

The Twist Creek inaugural drill program was designed to focus on zones containing multiple reef structures with historical gold production. Drilling continues at both the Twist Creek and Happy Valley Prospects within the Myrtleford Project area. The Twist Creek area is situated in the northern portion of the Company's Exploration Licence EL006724 in Victoria, Australia.

It lies within a 7km-long trend of historical workings and mines. The Twist Creek Mining Centre produced gold at an average grade of ~31 g/t Au. Prior to E79's inaugural drill program, no modern exploration activities had been conducted within this area.

NEXT STEPS: At Happy Valley, drilling continues at the Manager's Hill Prospect which is located within 500m of the high-grade Happy Valley workings. At Twist Creek, an inaugural drill program is in progress at the Sydney Prospect before completing the first-pass at the Excelsior target. Further to this, first-pass rock chip sampling and mapping programs will continue along the 7km-long trend once the drilling is complete.

At the Beaufort Property, a review of the project including structural mapping has been completed and near surface targets have been identified. An exploration program will be planned which will include further rock chip sampling followed by shallow drilling.