(TheNewswire)
VANCOUVER, BC - TheNewswire - November 23, 2023 -Element 79 Gold Corp. (CSE:ELEM) (OTC:ELMGF) (FSE:7YS) ("Element 79 Gold" or “$ELEM”), a mining company focused on the exploration for and production of gold and silverin Nevada and Peru, announces a unique information forum to share information on its evolved business model and trajectory through 2024 with its shareholders and interested investors.
The information format is called 'AMA' = Ask Me Anything.
$ELEM’s Management is looking for interesting and substantive questions and is eager to help increase understanding and awareness of its refocused business model and planned trajectory through 2024. Interested parties should view the Company’s Corporate Presentation. Management’s most recent Corporate Update is also well worth attention.
The team at Element79 Gold Corp believes it embodies something quite unique in the marketplace today, something different from the more common exploratory, 'shovel in the ground' or 'on-site’ mining company stories. Some core features that help it differentiate itself from the rest of the Junior Mining sector is that it has a unique blend of miner, explorer and, most importantly, a “closer” of value-generating deals that benefit shareholders.
Shareholders and Investors are invited to send their inquiries and questions about Element79’s business to investors@element79.gold by 4pm EST on December 1, 2023; The appropriate ‘C- suite’ member will respond to the questions in a video format that will be released via the Company’s YouTube channel and other social media assets at 4pm EST on December 10.
As a primer, investors may choose to address some of these transactions or processes underway, outlined below:
In 2023, ELEM transitioned from a project incubator to a production focus with sights set on bringing the high-grade, past-producing Lucero mine back into production in 2024.
As the Company’s focus transitioned over the last year, the M&A newsreel has been constant:
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Lucero: $ELEM expanded the property in June 2023, received Exploration Permits in September 2023, and continued investment in mapping, channel sampling, and amassing data that will feed a drill program in 2024. Being that it’s in small-scale production today by the local artisanal miners, we have a production permit, its high-grade historical production, this is our flagship project.
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Machacala Transaction Cancellation: In March 2023, the Company halted the Machala deal to refocus better and conserve funds. Return of shares involved in this transaction will be returned and cancelled before the end of 2023.
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Centra Sale: Two Nevada projects were sold to Centra for CAD 1,000,000 in stock in May 2023. Centra is completing its 43-101 on the Long Peak property and commencing final filings for its own IPO. Once Element79 receives these shares and they trade freely, the Company will manage its holdings strategically for corporate growth and investment into operational budgets.
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Valdo Sale: The Company also selling three Nevada projects to Valdo Minerals for CAD 1,250,000 in stock through a deal announced in November 2022 and extended in May 2023. Valdo has a similar business trajectory as Centra, with the timeline staggered by approximately 9 months, and the Company will strategically similarly manage these shares as those from Centra.
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Dale Spinout: In July 2023, we transferred the Dale Property to Synergy Metals Corp. Synergy has sourced a CAD $200,000 loan to complete Plan of Arrangement “spin-out" process; This process has been delayed from its original timing due to legal processes and the company will be providing further progress updates in December 2023.
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Snowbird Project: Currently under negotiations with Plutus for future project advancements.
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Maverick Springs: The sale Option was initially contracted on August 31, and an extension was announced on October 23 with an ultimate completion anticipated on or before the end of March 2024. The counterparty continues to complete the steps required relative to their own listing process.
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Upcoming Special Shareholder Meeting: For investors that held $ELEM shares as of market close on November 6, 2023, there will be a Special Shareholder Meeting on December 19, 2023 that will include voting on two major initiatives that pose to clean up the Company’s balance sheet dramatically:
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A Share-For-Debt conversion of up to CAD $3,750,000
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A notable conversion of a CAD $2,000,000 loan into shares of the Company
Element79 Gold Corp’s Management and Board has always believed strongly in ensuring open communication its investors and stakeholders. As the Company has recently pivoted from one business model to another (asset amalgamation to ramping up to production), seizing what is believes will become a significant value-creation and upside opportunity, ELEM’s team has been speaking on a one-off basis with many of its community to ensure that everyone understands the value levers that the Company believes are at hand. The design of this AMA session is to clarify perspectives or misconceptions that may exist. Element79 Gold Corp’s Management team believes you will find Element79 worth getting to know for its projects, business acumen and investor openness, poised to capitalize on what appears to be a very buoyant gold market coming in 2024 and beyond.
About Element79 Gold Corp.
Element79 Gold is a mining company focused on gold and silver committed to maximizing shareholder value through responsible mining practices and sustainable development of its projects. Element79 Gold's focus is on developing its past-producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to restart production in the near term.
The Company also holds a portfolio of 5 properties along the Battle Mountain trend in Nevada, with the Clover and West Whistler projects believed to have significant potential for near-term resource development. Three properties in the Battle Mountain Portfolio are under contract for sale to Valdo Minerals Ltd., with an anticipated closing date around the end of Q1/2024. The Company has also signed an Option Agreement to sell the Maverick Springs project, an advanced-stage exploratory property with an Inferred Resource of 3.71MMoz AuEq (1.37MMoz Au and 175MMoz Ag) and anticipates completing this sale on or before March 28, 2024.
In British Columbia, Element79 Gold has executed a Letter of Intent and funded a drilling program to acquire a private company that 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 has an option to acquire a 100% interest in the Dale Property, 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, and has recently announced that it has transferred this project to its wholly-owned subsidiary, Synergy Metals Corp, and is advancing through the Plan of Arrangement spin-out process through Q1 2023.
For more information about the company please visit our official website at www.element79gold.com.
The Company’s 2023 review and Corporate Update can be reviewed HERE.
Contact Information
For corporate matters, please contact:
James C. Tworek, Chief Executive Officer and Director
E-mail: jt@element79gold.com
For investor relations inquiries, please contact:
Investor Relations Department
Phone: +1.613.879.9387
E-mail: investors@element79.gold
Cautionary Note Regarding Forward Looking Statements
This press release 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 business strategy; future planning processes; exploration activities; the timing and result of exploration activities; capital projects and exploration activities and the possible results thereof; acquisition opportunities; and 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: 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.sedarplus.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.
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.
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