Exploration And Option Agreement On The Jefferson Canyon Project

OTTAWA - Gold79 Mines Ltd. announced that a Exploration and Option Agreement with Kinross Gold USA Inc. has been signed on its Jefferson Canyon Gold-Silver Project located in Nye County, Nevada, approximately 7 kilometers from Kinross's Round Mountain operations.

Derek Macpherson, President & CEO, said, "We are pleased to welcome Kinross, a senior gold mining company, as a partner at Jefferson Canyon and as a strategic investor. The agreement with Kinross is a strong endorsement of Jefferson Canyon's potential and will accelerate exploration while allowing Gold79 shareholders to retain a significant interest in what we view as a very prospective project. With Jefferson Canyon only 7 kilometers from Kinross's operating Round Mountain Mine, we believe Kinross is better positioned to quickly and cost effectively advance Jefferson Canyon."

Gary Thompson, Chairman, said, "We are excited to be working with Kinross on the Jefferson Canyon Project as the proximity to the Round Mountain Mine complex makes Kinross the natural partner. This agreement will allow Gold79 to focus more of its resources on the Gold Chain project in Arizona, where we are permitted to drill multiple high-potential targets, while Kinross advances Jefferson Canyon."