Element79
Gold Corp Continues Fostering Local Community
Engagement
Advancing
Engagement, Exploration and Exploitation Agreements
VANCOUVER, BC, Canada --
June 4, 2024 -- InvestorsHub NewsWire
-- Element79 Gold
Corp. (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS0) ("Element79", the
"Company") provides
further updates on its community relations initiatives and ongoing
exploration and exploitation agreements progress with local
communities.
Element79 continues to foster strong relationships with the
communities it operates in and around, balancing sustainable
development of both its projects as well as helping the surrounding
populations. Recent meetings have reaffirmed the overall
support for the Company's desire to develop and ramp up to
production at Lucero, beginning with the current pending long-term
agreements for surface rights access.
As outlined in the Company's news release from April 25th,
and in online conferences or interviews since the last reporting,
the Chachas community had a new mayor come into effect in the first
quarter of 2024, with the transition from the old administration
requiring a ratification of the Community's Charter prior to any
further agreements could be legally bound. The maximum
timeline that the Community has allotted for its Charter to be
ratified is July 28, 2024. The seven towns that make up the
greater Chachas community are actively engaged in discussions and
processes around the Charter, recognizing this is critical for
advancing other initiatives within the community itself, as well as
providing for regional mining business to restart.
Two agreements are currently under review by the Chachas Community
and Lomas Doradas mining association: The first includes the
Company obtaining approval of 10-15 years of surface rights access
for exploration and exploitation, while in turn, a second
cooperation agreement from the Company to Lomas Doradas is being
considered to provide the local mining association small scale
mining rights at Lucero for a similar term.
The Company confirms that its discussions with Lomas Doradas to
formalize cooperation agreements are advancing positively. On
average, 120 artisanal miners from the Lomas Doradas community work
in mineral extraction at Lucero throughout the year. The
cooperation agreements will ensure a unified and coordinated
approach to mineral extraction and the associated ore mined by
Lomas Doradas will be sold to Element79, to then resell.
Element79 Gold Corp continues to maintain a presence in the
community for social outreach and communication, with its team
touring between the remote towns that make up Chachas, helping and
gaining a greater understanding of the unique perspectives,
concerns and opportunities for cooperation in each location.
During May, the team recently had the privilege to be invited to
participate in a Vicuña Shearing ceremony, further highlighting the
growing relationship with local communities. This sustainable
practice celebrates the collection of vicuña wool, one of the
world's most valuable fibers.
The Company continues to prioritize sustainable development
initiatives, including ongoing social awareness efforts to inform
the community about the positive impacts anticipated from the
project and the work that will be carried out, along with
responsible practices that will be implemented.
Element79 remains dedicated to advancing its shareholder's interest
through value creation, sustainable development and community
empowerment where it operates. Further updates on these
important contracts and other social developments will be provided
in due course.
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 5 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 the first half of 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
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", "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; labour
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.?