Element 79 Gold Announces AGM Results

Vancouver, June 20, 2023 - Element 79 Gold Corp. (CSE:ELEM) (OTC:ELMGF)(FSE:7YS) ("Element 79 Gold", the "Company")) is pleased to announce the voting results from its Annual General Meeting of Shareholders (the "Meeting"), held on June 19, 2023.

Shareholders voted in favour of all matters of business before the Meeting. Each of those matters is set out in detail in the Management Information Circular published in connection with the Meeting, which is available on the Company's website www.element79.gold.

A total of 14,231,396 common shares, representing approximately 13.46 of the Company's outstanding common shares, were voted in person and by proxy at the Meeting. Shareholders voted in favour of (a) reappointing SHIM & Associates LLP Chartered Professional Accountants as auditors of the Company (99.43% in favour), and (b) setting the number of directors at four (99.87% in favour).

Election of Directors

The following nominees listed in the Management Information Circular were elected as directors of the Company until the next annual meeting of shareholders or until the successors are elected or appointed, with the voting results being as follows:

About Element79 Gold

Element79 Gold is a mining company focused on gold, silver and associated metals and committed to maximizing shareholder value through responsible mining practices and sustainable development of its projects. Element79 Gold's main focus is on two core properties: developing its previously-producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to bring it back into production in the near term; and its flagship Maverick Springs Project located in the famous gold mining district of northeastern Nevada, USA, between the Elko and White Pine Counties. Maverick Springs hosts a 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 October 19, 2022. The acquisition of the Maverick Springs Project also included a portfolio of 15 properties along the Battle Mountain trend in Nevada, which are non-core to its primary business focus. 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 also has an option to acquire a 100% interest in the Dale Property, 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, Canada in the Timmins Mining Division, Dale Township. The Company is analyzing the non-core Nevada projects, The Dale Property and Snowbird Property for further merit of exploration, sale or spin-out.

For more information about the Company, please visit www.element79.gold

Contact Information:

James C. Tworek, Chief Executive Officer E-mail: jt@element79gold.com

For investor relations inquiries, please contact:

Investor Relations Department - Dylan Anderson

Phone: +1 (613) 879-9387

E-mail: hello@element79gold.com

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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