Elevation Gold Announces Management Change

VANCOUVER, BC, Aug. 9, 2022 /PRNewswire/ - Elevation Gold Mining Corp. (TSXV: ELVT) (OTCQX: EVGDF) (the "Company" or "Elevation Gold") announces that Michael G. Allen has stepped down as President of the Company, effective immediately. Elevation Gold would like to thank Mr. Allen for his contributions and wishes him well in his future endeavors.

The Company's current Chief Operating Officer, Tim Swendseid, has been appointed President of Elevation Gold Mining Corp. effective immediately.

Douglas J. Hurst, Chairman and Director of Elevation Gold, stated, "The Board of Directors is very pleased to welcome Mr. Swendseid to his new role of President of the Company. Tim is an experienced mining professional with proven accomplishments in complex operations. He is a strong mentor, a champion of safe operations and is the ideal candidate to advance the Company's growth and strategic objectives. Under Tim's leadership as COO, the Moss Mine has witnessed improved fragmentation, increased crusher throughput and the successful construction of Leach Pad 2C."

Mr. Swendseid has over 35 years of worldwide experience in operating, technical and financial aspects of mining projects. Prior to joining the Company at the end of 2021, Tim held senior industry management positions including Chief Operating Officer of Boroo Mining Company, SVP Operations and Technical at CMOC International, President of Consulting Services, Americas at RPM Global, General Manager for the Mulatos Mine at Alamos Gold, VP Engineering at Frontera Copper and various management and technical roles at Phelps Dodge Corp. Tim holds a B. S. in Mining Engineering from Montana Tech, an MBA from the University of Arizona and is a CFA Charterholder.

Tim Swendseid, President of Elevation Gold, stated "I am excited to continue working with the Elevation Gold team to realize a strong future due to improved ore grade from East Pit, the completion of 2022's major capital projects and improved understanding of the Moss Mine orebody. The mature staff at the Moss Mine, including the new General Manager, the management team and the entire workforce are highly experienced and continue to perform exceptionally."

ON BEHALF OF THE BOARD

"Douglas J. Hurst"

Douglas J. Hurst, Chairman and Director

Elevation Gold is a publicly listed gold and silver producer, engaged in the acquisition, exploration, development and operation of mineral properties located in the United States. Elevation Gold's common shares are listed on the TSX Venture Exchange ("TSXV") in Canada under the ticker symbol ELVT and on the NASDAQ OTC in the United States under the ticker symbol EVGDF. The Company's principal operation is the 100% owned Moss Mine in the Mohave County of Arizona. Elevation also holds the title to the Hercules exploration property, located in Lyon County, Nevada.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's plans with respect to appointing a new President. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking statements. All of the forward-looking statements made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward–looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

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SOURCE Elevation Gold Mining Corp.