ELEMENT79 GOLD CORP PROVIDES UPDATE
ON CHACHAS COMMUNITY CHARTER AND REVENUE GENERATION, M&A
ACTIVITIES
Vancouver, BC – July 30, 2024 – InvestorsHub NewsWire --
Element79 Gold Corp (CSE: ELEM, OTC: ELMGF, FSE: 7YS0), Hereinafter ("Element
79 Gold", the "Company") , a mining company focused on
gold and silver committed to maximizing shareholder value through
responsible mining practices and sustainable development of its
projects, is excited to provide the following updates about the
social and business engagement in Chachas as well as highlight
additional revenue-generating business underway.
Local Charter Ratified
Element79 Gold has received confirmation that the Chachas
community has reached an agreement to complete the ratification of
its charter this past weekend. This agreement was reached at an
auxiliary community meeting held in the neighboring community of
Orcopampa. As described
previously, this was the key step for Chachas to be able to
then complete further contracts and tenders. Due to timing
restrictions, no further tenders or contracts were completed or
awarded during the auxiliary meeting.
Element79 Gold's community relations team is working on an
additional on-site campaign this month with specific deliverables
due, including confirmation from Chachas as to specific timing for
agreements with the Company to be reviewed and completed.
Element79 Gold will continue its monthly efforts with Chachas
leadership to steward its Lucero project advancement as a win-win
priority, and looks forward to a long and prosperous business
relationship with the stakeholders of Chachas and in the
community.
Push Toward 2024 Revenue Generation
Falling in line with the Company's comments and projected first
phase of revenue generation, discussed in news releases and
interviews over the past few months, there is an immediate channel
of potential revenue generation underway through consolidating and
reselling ore from the local Artisanal Small-scale Miners ("ASMs")
that are currently mining at and around the Lucero mine.
Further, Lomas Doradas, the local ASM association in Chachas
completed its election process this past Monday. The new
President is Mr. José Luis Asuero Llamoca. It is Mr.
Llamoca's role to work hand in hand between the Company and the
ASMs. Through its local community liaisons and development
office that it opened in Chachas in February, the Company has been
building with Lomas Doradas and reviewing offtake contracts to
purchase and bring their mined product (Brosa, raw
unprocessed ore) to market. It has also been reviewing
multiple potential regional offtake partners and will report on its
quarterly sales volumes in the future.
Regional M&A review continues
As reported previously, the Element79 Gold team continues to
review a number of regional acquisition and Purchase and Sale
agreements to expand the Company's resource values, increase
footholds, trusted teammate capacity, and potential income yields
for future growth. The Company and its counsel are actively
reviewing contracts and anticipates confirmation of a completed LOI
before the end of August 2024.
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 2024.
The Company also holds a portfolio of five 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 in 2024.
The Company holds 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.
For more information about the Company, please visit
www.element79.gold
Contact Information For corporate matters, please contact:
James C. Tworek, Chief Executive Officer and Director
E-mail: jt@element79.gold
For investor relations inquiries, please contact:
Investor Relations Department
Phone: +1.403.850.8050
E-mail: investors@element79.gold
Cautionary Note Regarding Forward-Looking Statements This press
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 considering 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", 4
of 4 "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: the duration and effects of the coronavirus and
COVID-19; 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; labor
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.ca. 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.
Element79 Gold (CSE:ELEM)
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