Vancouver, BC – TheNewswire - November 4, 2022 – Element79 Gold Corp. (CSE:ELEM) (OTC:ELMGF) (FSE:7YS) ("Element79 Gold", the "Company") today announced that it has engaged the business development and marketing services of two highly-seasoned providers, Euroswiss Equity Group ("Euroswiss") and Victory Marketing Solutions ("Victory").

"With the rapid pace of news we expect to generate across our portfolio of assets in the coming months, the timing to ramp up marketing efforts in conjunction with launching our European campaign couldn't be more ideal," commented James Tworek, CEO of the Company. "We're confident that the growing story at Element79 Gold will generate significant interest with investors as we move towards the new year with a heightened focus on raising awareness exponentially across Europe and North America."

Element79 Gold is also pleased to announce that it shall appear at the International Precious Metals & Commodities Show, hosted at the MVG Museum in Munich, Germany on November 4th and 5th, 2022. The Company is scheduled to present at 1:45pm CET on Saturday, November 5th.

Euroswiss Equity Group, Victory Marketing Solutions

Euroswiss is a well-established European focused capital markets group based in Switzerland which carries a large following of institutional and high net-worth investors throughout Europe. Element79 Gold has retained Euroswiss to provide media awareness and business development services to the Company, including providing key introductions to members of the European investment community.

Victory Marketing Solutions carries over 15 years of experience providing professional awareness and marketing services to private and public companies. Element79 Gold has retained Victory to provide additional awareness through its focused communications to a curated following of over 85,000 North American investors.

"The joining of Euroswiss and Victory to our growing roster of first-rate providers offers further avenues to communicate with major market participants in Europe and North America, and to amplify the Company's presence on the radar of prominent investors around the globe," remarked Mr. Tworek. "Element79 Gold is eager to leverage the multi-faceted capabilities of Euroswiss and Victory to vastly increase investor awareness worldwide and accelerate the tempo of our corporate development strategy."

International Precious Metals & Commodities Show

The International Precious Metals & Commodities Show (Internationale Edelmetall & Rohstoffmesse) has been held in Munich, Germany annually since 2005. The conference is dedicated exclusively to precious metals and commodities investment, and includes presentations by noteworthy mining companies from all over the world. The 2022 International Precious Metals & Commodities Show shall be hosted at the MVG Museum in Munich on November 4th and 5th, 2022 from 10:00am to 6:00pm CET. Element79 Gold is scheduled to present at 1:45pm CET on Saturday, November 5th.

Details of the Agreements

Euroswiss has been engaged for a term of 6 months, renewable subject to agreement by both parties. Element79 Gold shall deliver a total of $80,000 CAD to Euroswiss, which may be paid in 640,000 free-trading common shares of the Company based on the share price of $0.125 CAD on the date of the agreement.

Victory has been engaged for a term of 3 months, renewable for additional 3-month periods. Element79 Gold shall deliver a fee of $15,000 CAD per month to Victory, paid quarterly, and shall issue 350,000 options of Element79 Gold with the first 100,000 options priced at $0.15 CAD, the second 100,000 options priced at $0.22 CAD, and the final 150,000 options priced at $0.30 CAD.

About Element79 Gold

Element79 Gold is a mineral exploration company focused on the acquisition, exploration and development of mining properties for gold and associated metals. Element79 Gold has acquired its flagship Maverick Springs Project located in the famous gold mining district of northeastern Nevada, USA, between the Elko and White Pine Counties, where it has recently filed an amended 43-101-compliant, pit-constrained mineral resource estimate reflecting an inferred resource of 3.71 million ounces of gold equivalent* “AuEq” at a grade of 0.92 g/t AuEq (0.34 g/t Au and 43.4 g/t Ag)) with an effective date of Oct. 19, 2022 (see news release October 20, 2022, available on SEDAR). The acquisition of the Maverick Springs Project also included a portfolio of 15 properties along the Battle Mountain trend in Nevada, which the Company is analyzing for further merit of exploration, along with the potential for sale or spin-out.  In Peru, Element79 Gold holds 100% interest in the past producing Lucero Mine, one of the highest-grade underground mines to be commercially mined in Peru's history, as well as the past producing Machacala Mine.  In British Columbia, Element79 Gold has executed a Letter of Intent to acquire a private company which holds the option to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims located in Central British Columbia, approximately 20km west of Fort St. James. The Company also has an option to acquire 100% interest in the Dale Property which consists of 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, Canada in the Timmins Mining Division, Dale Township. For more information about the Company, please visit www.element79.gold or www.element79gold.com.

For corporate matters, please contact:

James C. Tworek, Chief Executive Officer

Email: jt@element79gold.com

For investor relations inquiries, please contact:

Investor Relations Department

Phone: +1 (604) 200-3608

Email: investors@element79gold.com

Cautionary Note Regarding Forward Looking Statements

This press contains "forward‐looking information" and "forward-looking statements" under applicable securities laws (collectively, "forward‐looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the Company’s plans for its portfolio of mining projects and properties; the Company’s business strategy; future planning processes; exploration activities; the timing and result of exploration activities; capital projects and exploration activities and the possible results thereof; any potential future cash flow and the timing thereof; acquisition opportunities; the impact of acquisitions, if any, on the Company. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, forward-looking statements cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward‐looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward‐looking statements".

Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: the duration and effects of the coronavirus and COVID-19; risks related to the integration of acquisitions; actual results of exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; commodity prices; variations in ore reserves, grade or recovery rates; actual performance of plant, equipment or processes relative to specifications and expectations; accidents; labour relations; relations with local communities; changes in national or local governments; changes in applicable legislation or application thereof; delays in obtaining approvals or financing or in the completion of development or construction activities; exchange rate fluctuations; requirements for additional capital; government regulation; environmental risks; reclamation expenses; outcomes of pending litigation; limitations on insurance coverage as well as those factors discussed in the Company’s other public disclosure documents, available on www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company believes that the expectations reflected in these forward‐looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

Source: Element79 Gold

Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.