Updated NI 43-101 Compliant Resource On The Maverick Springs Project

VANCOUVER - Element79 Gold Corp. reported an updated National Instrument 43-101 compliant, pit-constrained Mineral Resource Estimate (MRE) on the Maverick Springs Project located in northeastern Nevada. Highlights of the Maverick Springs Mineral Resource Estimate include 3.71 million gold equivalent ounces "Au EQ" (278.0M Ag EQ ounces), within 125.4 million tonnes at an average grade of 0.92 g/t Au EQ (68.9 g/tonne Ag EQ) in the Inferred category.

The Maverick Springs Project consists of approximately 4,800 acres across 247 unpatented claims that straddle the border of Elko County and White Pine County, proximal to the Carlin Trend, a belt of gold deposits approximately 5 miles wide and 40 miles long that is one of the world's richest gold mining districts, having produced more gold than any other mining district in the US. The Maverick Springs Project is located just 30 kilometers northeast of Kinross's Bald Mountain Mine with measured and indicated resources (inclusive of proven and probable reserves) of 4.5 million ounces grading 0.52 g/t gold.