ELEMENT79 GOLD Corp Announces Corporate Update and Strategic Leadership Changes
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ELEMENT79 GOLD CORP ANNOUNCES CORPORATE UPDATE
AND STRATEGIC LEADERSHIP CHANGES WITH FOCUS ON ACCELERATING
NEVADA ASSET DEVELOPMENT
Vancouver, BC – August 15, 2025 – Element79 Gold Corp. (CSE: ELEM | FSE: 7YS0 | OTC: ELMGF) (the
“Company”), is a Canadian mining company focused on developing its portfolio of gold and silver projects
in Nevada and Peru, announces strategic leadership changes which will be effective August 31, 2025,
alongside an update on its advancing growth strategy.
Key Highlights Discussed:
• Refined Strategic Focus - Over the past year, Element79 Gold has sharpened its focus on long-
term exploration and development in Nevada, anchored by the acquisition of the drill-ready Gold
Mountain Project and plans to explore the Elephant Project , both located in the prolific Battle
Mountain trend. This strategy is designed to form the foundation for the Company’s next phase
of resource growth in one of the world’s most established gold districts.
Advancing Lucero, Peru – Continued incubation of the high-grade Lucero Project in southern
Peru, with a mid-long-term objective of restarting exploration and production.
• Leadership Transition – Effective August 31, 2025 , including strategic changes to both
Management and the Company’s Board of Directors , with the goal of accelerating asset
development in Nevada.
Corporate Strategy Update
Nevada
Over the past year, Element79 Gold has sharpened its focus on building a long- term exploration and
development portfolio in Nevada, anchored by the recent acquisition of the drill- ready Gold Mountain
project and plans to explore the Elephant project, both located in the prolific Battle Mountain trend. The
Company has had success in developing projects in this Tier 1 mining region in the past, and this refocused
strategy forms the foundation for the Company’s next phase of resource growth, positioning Element79
in one of the world’s most established gold districts. The Company currently has two projects in Battle
Mountain, Nevada:
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• Gold Mountain, a Drill-ready asset with near-term exploration plans aimed at expanding known
mineralization and advancing toward resource definition. The Company has engaged Rangefront
Mining Services to prepare a NI 43 -101 technical report as disseminated on August 6, 2025, in
previous news.
• Elephant Located in the heart of the Battle Mountain trend, targeted for systematic exploration
to evaluate and advance its Gold, Silver, Lead and Copper potential.
The Company is currently pursuing additional high grade mineral concessions in the region to add to its
evolving portfolio.
Peru
At the same time, the Company continues to incubate its high- grade Lucero Project in Arequipa, Peru,
preparing for the eventual restart of exploration and production. Work in Peru is currently focused on
community engagement, legal and regulatory readiness, and aligning future project development for win-
win outcomes with key stakeholders with an eye to the access issues being resolved in the coming months.
Key project points for Lucero into 2026:
• Maintain regular communication and presence in the Chachas community, anticipating a more
favorable local administration beginning in 2026 –2028 (local meetings starting at the end of
August 2025 will focus on the local mayoral race).
• Monitor federal updates to the “systemic push” towards formalization under the former-REINFO-
to-new-Ley MAPE transition, with a key catalyst deadline of December 31, 2025, approaching.
• Upon the implementation of the new formalization regime, work ing with legal counsel and the
community to forge surface rights and operating agreements.
• Target mobilization for on -site work in mid -2026, contingent on formalization progress and
community agreements.
• Work with contractual counterparties to restructure terms , linking payments to mutually
beneficial project advancement and production goals.
Leadership and Board Changes
Effective August 31, 2025:
• James C. Tworek, Chief Executive Officer since inception, has elected to step down from the role
and continue to support the Company as a Director.
• Michael Smith, currently Vice President, Corporate Development, will be appointed Chief
Executive Officer.
• Neil Pettigrew will resign as Director and Qualified Person (“QP”). The Company is grateful for
Mr. Pettigrew’s investment of expertise and help applied through the Company’s history from
inception.
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• Kim Kirkland, currently Chief Operating Officer, will formally take on the Company’s QP role and
join the Board of Directors, while stepping down from his role as COO.
• Warren Levy will remain as Director and will assume the role of Chairman of the Board.
• Zara Kanji will continue as Director.
Outgoing CEO James C. Tworek commented:
“It has been a privilege to build , grow and lead the talented team professionals at Element79 Gold from
its private company roots through multiple transformative milestones and successes since our IPO in
August 2021. These changes to the Element79 Gold Corp team make the Company nimbler while retaining
expertise, intimate project knowledge and relationships.
We are grateful for our Director, Neil Pettigrew’s leadership and expertise with the Company’s multitude
of projects, and guidance through many challenges that we have faced, both before and since our IPO. I
wish him success in his current and future professional endeavors and look forward to the possibility to
work with him again.
With the Company’s recent refocus on exploration and resource development in Nevada while continuing
a mid-to-long term strategy of restarting production at Lucero in Peru, I am confident that Michael is the
right leader to guide the current phase of growth. I remain committed to supporting the Company ,
helping to manage strategy, relationships and projects as a board member.”
Incoming CEO Michael Smith added:
“I am honored and excited to take on the role of CEO during this exciting time of refocus and development
opportunity underway at Element79 Gold Corp. Our immediate priorities lead a raise focused on drilling
Gold Mountain, developing Elephant and maintaining momentum at Lucero in Peru. I look forward to
building upon the strong foundation laid by James and the team.”
Warren Levy, Chairman added:
“I would like to thank James and Neil for their efforts over the years to keep Element79 moving forward,
and am looking forward to Michael taking the lead going forward. The refocused company has an
attractive portfolio and has maintained access to the upside in Peru. We feel that the hard work of
positioning the company has been well done by James and Kim, and their continued involvement on the
board will be important to assist the new management team in taking the company forward successfully.”
Qualified Person
The technical information in this release has been reviewed and approved by Kim Kirkland, Fellow of
AusIMM #309585, Chief Operating Officer of Element79 Gold Corp, and a "qualified person" as defined
by National Instrument 43-101.
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About Element79 Gold Corp
Element79 Gold Corp is a mining company focused on gold and silver exploration, with assets in Nevada
and Peru. The Company is actively advancing its drill -ready Gold Mountain Project in Nevada’s Battle
Mountain trend and holds an option to purchase the high-grade Lucero Mine in southern Peru. Element79
has transferred its Dale Property in Ontario to its wholly owned subsidiary, Synergy Metals Corp., and is
progressing through the spin-out process. Element79 Gold is listed on the CSE (CSE: ELEM), the Frankfurt
Stock Exchange (FSE: 7YS0), and the OTC Markets (OTC: ELMGF).
On Behalf of the Board of Directors,
James C. Tworek, CEO, Director
Investor Relations Department
Email : [email protected]
Phone : +1.604.319.6953
Corporate Contact
James Tworek, CEO, Director
Email: [email protected]
Cautionary Note Regarding Forward Looking Statements
This press release contains forward- looking statements within the meaning of applicable securities laws. The use of
any of the words "anticipate," "plan," "continue," "expect," "estimate," "objective," "may," "will," "project," "should,"
"predict," "potential" and similar expressions are intended to identify forward-looking statements. This press release
contains forward-looking statements concerning the Company’s exploration plans, development plans and the Force
Majeure Event. Although the Company believes that the expectations and assumptions on which the forward-looking
statements are based are reasonable, undue reliance should not be placed on these statements because the Company
cannot provide assurance that they will prove correct. Forward -looking statements involve inherent risks and
uncertainties, and actual results may differ materially from those anticipated. Factors that could cause actual results
to differ include conditions in the duration of the Force Majeure Event, and receipt of regulatory and shareholder
approvals. These forward-looking statements are made as of the date of t his press release, and, except as required
by law, the Company disclaims any intent or obligation to update publicly any forward- looking statements.
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.