Overview

Element79 Gold (CSE:ELEM, OTC PINK:ELMGF) is an exploration and developing mining company with the potential for near-term production through its Lucero project in Peru. The Lucero mine is one of the highest-grade underground mines in Peru’s history and is on the fast track for production. Additionally, the company’s Maverick Springs project in Nevada creates a further opportunity for future revenue. A highly experienced management team with a proven track record of success leads Element79 toward fully realizing the potential of its assets.

Lucero is a past-producing high-grade gold mine ready to reach production quickly. The mine operated between 1989 to 2005. Historic reports between 1998 and 2004 indicate that the mine produced approximately 18,800 ounces of gold and 435,000 ounces of silver per year at 19.0 g/t gold equivalent. A recent NI 43-101 report prepared by a third party indicates grades up to 116.8 g/t gold equivalent. The Lucero project also has high upside potential for further greenfield exploration in addition to producing near-term cash flow.

Peru is considered a relatively safe jurisdiction for mining operations, especially for smaller-scale operations. In addition, mining is an essential aspect of the country’s GDP, resulting in favorable regulations promoting mining activity. Element79 Gold is poised to benefit from the pro-mining jurisdiction as it moves the Lucero asset toward production.

Neil Pettigrew, director of Element79 Gold, stated, ‘Lucero offers a rare opportunity to explore for not only an underground high-grade, low sulphidation system, but potentially an open pit-able high sulphidation system as well. This project has never experienced modern exploration techniques, and I am very confident that significant gold-silver resources are to be found.’

The company’s additional Maverick Springs gold project in Nevada has an inferred 278 million ounces of gold equivalent. The project is located in one of the world’s richest gold mining districts and is located only 30 kilometers away from the Kinross (NYSE:KGC) Bald Mountain Mine.

A powerhouse management team leads Element79 Gold with a track record of experience and success. Antonio Maragakis, chief operating officer, has held director-level positions at miners with multi-billion dollar portfolios, including Barrick Gold Corporation and Koch Industries. In addition, Kim Kirkland, VP of global explorations, has led engineering roles in some of the world’s largest mining companies, such as Rio Tinto Group and Barrick Gold Corporation.

Shane Williams, director, brings a history of significant value creation in early-stage and operating companies. Derek White, a strategic advisor, brings his expertise to the mining industry as both a geologist and CPA. Combined, Element79 has the right experts to fully realize its assets’ potential.

Company Highlights

Element79 Gold is an exploration and development mining company with high-grade gold projects with near-term cash flow potential.The company’s Lucero project in Peru has historically high-grade results and provides opportunities for both near-term revenue and future greenfield exploration.Lucero has historically produced 18,800 ounces of gold and 435,000 ounces of silver per year at 19.0 g/t gold equivalent.Peru is considered a safe jurisdiction for mining operations due to a pro-mining government that recognizes the industry’s economic contributions.Element79 Gold’s Maverick Springs gold project in Nevada creates additional blue-sky potential as exploration continues.A powerhouse management team leads the company toward fully developing its asset portfolio.

Key Projects

Lucero Gold Project

The 10,805-hectare project in southern Peru presents near-term cash flow potential as it moves toward production. Lucero operated as a high-grade gold mine between 1989 and 2005 and remains partially unexplored. As a result, the asset is in a unique position to start generating revenue while also providing future growth opportunities with additional exploration.

Project Highlights:

Encouraging Historic Results: Reports from 1998 to 2004 indicate production averaging roughly 18,800 ounces of gold and 435,000 ounces of silver per year, with grades of 14.0 g/t gold and 373 g/t silver. Additionally, the asset contains recoveries at the ore processing facility averaging 94.5 percent for gold and 85.5 percent for silver for near-term cash flow.Unique Geology: Lucero hosts 74 recognized epithermal veins, 14 of which have been partially exploited. The project is a low-sulphidation epithermal gold-silver deposit hosted within tertiary volcanics in the Central Andes Cordillera of southern Peru. The project also hosts unexplored high-sulphidation style mineralization, which has returned surface samples up to 33.6 g/t gold.Promising Resource Estimate: A third-party NI 43-101 report indicates grades up to 116.8 g/t gold equivalent, or 78.7 g/t gold and 2,856 g/t silver. Element79 Gold is moving towards production to capitalize on these resources.

Maverick Springs Gold Project

The Nevada-based Maverick Springs gold project covers 4,800 acres on top of a gold belt with deposits approximately five miles wide and 40 miles long. The project’s gold belt district has produced more gold than any other mining district in the United States.

Project Highlights:

Substantial Completed Exploration: Completed exploration at properties within the asset has produced promising results:Elder Creek: 155 holes, up to 3.19 g/t gold over 38.96 metersClover: 104 holes, up to 25.3 g/t gold over 9.75 metersLong Peak: Up to 8.02 g/t gold and 174 g/t silver over 9.14 metersProlific Resource Estimate: A 2021 constrained mineral resource statement estimates that the asset contains 124.4 million tonnes at 68.9 g/t gold equivalent, which indicates 278 million ounces of gold equivalent. This estimate demonstrates the high upside potential of the project.Existing Infrastructure: The Maverick Springs gold project is accessible year-round via a gravel road and contains a network of drill roads throughout its claims. The asset also has nearby electrical power that minimizes initial development costs.

Management Team

James C. Tworek – Chief Executive Officer

James Tworek has worked in finance for the past 24 years, having started in commercial banking in 1998 and later working as a partner in a mortgage brokerage with an in-house mezzanine development fund for nearly eight years. During and since that time, Tworek has operated a corporate finance consulting firm working with funds, family offices, private equity and venture capital.

In addition to his role as CEO at Element79 Gold Corp, Tworek is a director of Florence One Capital Corp (FONE.P), a listed capital pool company; a co-founder and director of Gaia Grow Corporation (CSE:GAIA); and an advisor to the board at Muzhu Mining (CSE:MUZU). He was an independent director and member of the special committee of Nabis Holdings Inc. (CSE:NAB) from September 2020 to January 2021, and was an independent director of Robix Environmental Technologies Inc. (CSE:RZX) from December 2018 to October 2020. Tworek is always mindful to ensure open communication, honesty and integrity with all teammates and stakeholders.

Heidi Gutte – Chief Financial Officer

Heidi Gutte specializes in providing corporate finance, financial reporting, consulting, taxation and other accounting services to public and private companies in various industries. She also assists in many aspects of clients’ administration, corporate compliance and other activities.

Gutte earned her bachelor’s degree in computer engineering from the University of Applied Sciences in Brandenburg, Germany. She is a chartered professional accountant (CPA, CGA), and is a member of the Chartered Professional Accountants of B.C. and Canada. Gutte’s recent experience includes controller positions in accounting, finance and administration with publicly traded mining and exploration companies.

Antonios (Tony) Maragakis – Chief Operating Officer and Director

Antonios Maragakis completed his Ph.D. at the University of Delft, M.Sc. at the University of Bath, his B.Sc and B.A. at the University of Nevada, and executive training at the London Business School. He brings with him 15+ years of experience leading some of the largest mining megaprojects in the last decade. Maragakis holds a distinguished resume, including management and director-level positions overseeing multibillion dollar project portfolios internationally at organizations, such as:

Barrick Gold Corporation (NYSE Listed), where he led project controls in North America across a portfolio of 70+ projects worth over $2.3 billion.Skeena Resources Limited (TSX Listed), where he worked closely with executive leadership to develop the Eskay Creek Project and corporate processes and management systems.Freeport-McMoRan Inc. (NYSE Listed), where he helped develop the $3-billion Indonesian Copper Smelter Project which includes a two-million-ton/annum smelter and precious metal recovery plant.Eldorado Gold Corporation (TSX, NYSE Listed), where he was project director for the over $1-billion Skouries Project, as well as led the operational turnaround of the Kassandra Mines.Koch Industries (the largest privately held company in the U.S.), at its subsidiary, Koch Ag. & Energy Solutions, where he helped execute the Enid Expansion Megaproject, at the time the largest capital project ever undertaken by the entire Koch Industries conglomerate.Mochica Resources and Calipuy Resources (private Peruvian gold mines) where he oversaw the development of various project portfolios.

Kim Kirkland – VP Global Exploration

Kim Kirkland’s track record spans senior executive and lead engineering roles at some of the world’s largest mining companies. Key highlights of Kirkland’s work history include:

Barrick Gold Corporation – Involved during the early growth and innovation years at the Goldstrike Complex, including the development and maintenance of the open-pit mineral reserve model for the Betze-Post MineRio Tinto Group – La Granja Copper Project in northern Peru, held a senior management position at the Benga MineMMG Ltd. – regional manager at the Las Bambas Copper Mine in PeruAmec Foster Wheeler Plc – Marcobre S.A.C.’s Mina Justa Mine ProjectMcEwen Mining – Responsible for the restructuring of the El Gallo Silver Project (later renamed to Fenix) in Sinaloa, Mexico, as the director of Project Development.

Neil Pettigrew – Director

Neil Pettigrew is a professional geologist in good standing, registered in Ontario, with over 20 years of experience in the mineral exploration industry. He received his Honors B.Sc. from the University of New Brunswick and his M.Sc. from the University of Ottawa. Pettigrew has been employed as a senior precambrian geoscientist with the Ontario Geological Survey and has worked for several junior and major companies in gold and Cu-Ni-PGE exploration. He has held officer and director positions at several TSX and TSX-V listed junior companies and currently sits as vice-president exploration and director of Palladium One Mining Inc.

Shane Williams – Director

Shane Williams carries a history of significant value creation in both early-stage and operating companies, which includes senior executive and management roles overseeing and delivering world-class, multibillion-dollar projects at highly prominent companies, including: chief operation officer at Skeena Resources Limited (NYSE Listed), Eskay Creek Project; former senior vice-president at Eldorado Gold Corporation (NYSE Listed), $2-billion global project portfolio; former general manager of expansion projects at Rio Tinto Group (NYSE Listed), $2.5-billion CAPEX; and former vice-president of projects at Kaunis Iron AB, $800-million flagship Kaunisvarra Iron Ore Project.

Derek White – Strategic Advisor

Derek White has more than 30 years of experience in the mining and metals industry. He holds an undergraduate degree in geological engineering from the University of British Columbia and is also a chartered accountant. Prior to joining Ascot Resources Ltd. White, was the principal of Traxys Capital Partners LLP, a private equity firm specializing in the mining and minerals sectors.

White was president and CEO of KGHM International Ltd. from 2012 to 2015, and also held the positions of executive vice-president, business development, and chief financial officer of Quadra FNX Mining Ltd. from 2004 to 2012. White has held executive positions with International Vision Direct Ltd., BHP-Billiton Plc, Billiton International Metals BV and Impala Platinum Ltd., in Vancouver, Toronto, London, The Hague and Johannesburg. White is also an ICSA accredited director.

Andy Cole – Strategic Advisor

Andy Cole completed his Master of Business Administration at the University of Nevada, Reno, and his Bachelor of Engineering in materials engineering at the University of Arizona. He brings with him over 34 years of experience in mine development, process operations and production from working on and managing major North American gold mines and projects.

Cole’s prominent roles within the mining industry include executive director and management positions at some of the most renowned mining corporations in the world, such as:

Barrick Gold Corporation (NYSE Listed), the second-largest mining company in the world, where he accumulated 20 years of experience at its largest core asset, the Goldstrike Mine (now part of Nevada Gold Mines LLC’s Carlin Mine, a joint venture with Newmont Corporation2), in several operational capacities before being promoted to General Manager of the Goldstrike complex, and going on to serve as Executive Director, U.S.A. of Barrick Gold Corporation.Donlin Gold LLC, a 50/50 joint venture between Barrick and NOVAGOLD Resources Inc. (NYSE Listed), where he acted as General Manager of the Donlin Gold Project in Alaska3, which has Proven & Probable Reserves of 33.9 million ounces of gold and is estimated to produce over one million ounces of gold per year on average once operational.i-80 Gold Corp. (TSX Listed), where he is retained as Senior Metallurgical and Processing Advisor to the Operating Team, working to advance its portfolio of projects and assess opportunities to grow its future production profile.