E79 Resources Corp. reported assay results received from drill holes HVD011 to HVD015 at its Happy Valley Gold Prospect on its Myrtleford property in Victoria, Australia. All drill results have now been received for holes HVD011 to HVD014 and partially for HVD015.

Significant high grade intersections include 0.45m @ 54.6g/t Au and 1.85m @ 26.5g/t Au (HVD015) and 1m @ 27.7g/t Au (HVD014). Drillholes HVD011, HVD012, and HVD013 all intersected the structure with anomalous gold intersections outside the now defined high grade shoots. The Company is now expanding its drill program with large step-out drillholes to test the Happy Valley structure down-plunge to 500m below surface.

The current interpretation of the high-grade shoots is that they vary in strike length from 35-70m and were mined continuously down-plunge to 180m below surface. Drilling has now confirmed that the mineralisation extends to at least 350m below surface as indicated in HVD010. Each of the gold bearing quartz reefs are interpreted to be offset by a series of flat west dipping faults as depicted.

The construction of a detailed 3D geological model of the structures and mineralised quartz reefs is in progress with the aim to refine ongoing drill targets. The Happy Valley drill program will then shift its focus to nearby workings (Champions/Franklin and Managers Hill) that have never been drill tested. This follows confirmation of the Company's geological model that high-grade gold mineralization extends to depth below historic gold mining areas.

These drill sites have recently been approved with several drillholes planned for each site. A first-pass rock chip sampling and mapping program of historic workings along the Happy Valley trend has now been completed with assay results due soon. The aim of this program is to identify multiple drill targets within the Happy Valley trend for future drill testing.

The Happy Valley Prospect is situated in the south eastern portion of the Company's Exploration Licence EL006724 in Victoria, Australia. It lies within a 12km long trend of historical workings mines. The Happy Valley Mining Centre has a documented historical production of 34,200 ounces of gold predominantly between 1866 – 1875.

The Happy Valley Mining Centre produced at an average grade of ~31g/t Au. To date, only limited modern exploration has been conducted at this prospect, with the recent drilling by E79 defining bonanza grade mineralisation at depth. Gold mineralization at Happy Valley occurs as quartz veins within carbonate altered sedimentary units of Lower Ordovician age (448 – 443MA).

Regionally mineralization appears to be proximal and related to the emplacement of several major regional Devonian age granitic plutons. The gold can occur as free particles within the quartz veins and can also be associated with sulphides, including pyrite and to lesser degrees arsenopyrite and galena. All intersections represent downhole lengths and as such do not represent true width intersections.

Historic mining operations were undertaken on subvertical steeply dipping quartz vein structures. All samples are ½ HQ diameter (63.5mm) diamond drill core. Where visible gold has been observed in the core a field duplicate sample has been taken by splitting the ½ core in half again (¼ core) with both samples being independently assayed and the combined weighted average given to the interval.

Sampling was conducted to geological contacts. Samples were shipped by E79 contractors to ALS Global in Poorooka, SA, Australia by TNT transport. The samples were crushed to a nominal 85% passing 3.15 mm.

A 1 kg split was obtained using a Boyd rotary splitter and pulverized in its entirety to a nominal 85% <75 mm. Two quartz washes were run through both the crushing and pulverizing equipment between all samples and sizing tests were performed on both the coarse crush and pulverized material. All samples were analysed by 50-gram fire assay with an atomic absorption finish (Au-AA26).

This method has an upper detection limit of 100 ppm. All samples in the mineralised zone were analysed by a second 50g fire assay using a gravimetric finish with an upper detection limit of 10,000 ppm (Au-GRA22) for comparison and as a check to the original fire assay (Au-AA26). Certified reference materials (CRM) and coarse quartz blanks were also submitted with the samples to monitor accuracy and possible cross contamination, respectively.

The results for all quality control samples lie within acceptable limits.