Element79 Gold Corp Secures Two-Year Drilling Permit Extension for Nevada Gold Project

Element79 Gold Corp has secured a two-year extension of its drilling permit for the 100%-owned Gold Mountain Project located along the Battle Mountain trend in Nevada. The permit extension represents a significant milestone for the company's exploration strategy in this prolific gold jurisdiction, allowing for continuity in development activities over the next two years.

The Gold Mountain Project, formerly known as Long Peak, is considered drill-ready with multiple high-priority targets already defined through historical work and technical studies. Previous exploration has identified significant gold mineralization potential with favorable geology consistent with major deposits in the region. The company recently obtained a 43-101 property of merit technical report compiling historic data, with completion and filing of the NI 43-101 Technical Report on September 3, 2025.

This permit extension enables Element79 to execute planned drill programs and advance the project toward resource development, which is crucial for building long-term shareholder value. The Battle Mountain trend represents one of the world's most productive gold jurisdictions, making this development particularly significant for the company's Nevada portfolio strategy. Element79 intends to commence drilling activities under the extended permit to further delineate these targets and unlock additional value in the project.

The technical information supporting this development has been reviewed and approved by qualified personnel, ensuring compliance with industry standards. The extension provides the company with the necessary regulatory approval to maintain momentum in its exploration efforts without interruption, which is essential for capitalizing on the identified mineralization potential. This development positions Element79 to systematically advance its Nevada assets while continuing to focus on its main project, the Lucero Project in Peru.