Element79 Gold Corp. Comments on Peruvian Government Reform Centralizing Oversight of Small-Scale Mining Under Ministry of Energy and Mines

Element79 Gold Corp. Comments on Peruvian Government Reform Centralizing Oversight of Small-Scale Mining Under Ministry of Energy and Mines

(TheNewswire)

Element79 Gold Corp.

Vancouver, British Columbia TheNewswire - May 22, 2025 Element79 Gold Corp. (the "Company" or "Element79") (CSE: ELEM, OTC: ELMGF, FSE: 7YS0) wishes to comment on recent developments affecting the mining sector in Peru, where the Company's flagship Lucero Project is located.

Highlights:

  • The Peruvian government has enacted Supreme Decree No. 009-2025-EM , transferring oversight of small-scale and artisanal mining from regional governments to the Ministry of Energy and Mines (MINEM) .

  • The deadline for the mandated Formalization of REINFO (Comprehensive Mining Formalization Registry) permit holders with mineral right holders has been extended until December 31, 2025 , giving operators more time to formalize.

  • MINEM's Directorate General of Mining Formalization will now handle all administrative, monitoring, and enforcement processes related to mining formalization.

  • Reform is grounded in Law No. 32213 , published in December 2024.

  • A new national traceability platform (SIPMMA) is being launched to improve transparency and monitoring of registered small-scale mining operations.

  • The reform has raised concerns among regional governments over loss of local oversight and potential impacts on decentralized governance.

  • Element79 Gold Corp supports centralized oversight if implemented with community engagement and regional collaboration.

  • The Lucero Project remains a core focus , with continued efforts to formalize local artisanal miners and advance exploration toward production.

  • The Company reaffirms its commitment to social investment and long-term community relationships in Chachas and surrounding areas.

  • Following success in Nevada asset development and sales , Element79 Gold Corp. will reignite strategic initiatives in that jurisdiction.

In May 2025, the Government of Peru enacted Supreme Decree No. 009-2025-EM, which extends the validity of the Comprehensive Mining Formalization Registry (REINFO) until December 31, 2025, and shifts responsibility for supervising small-scale and artisanal mining from regional governments to the Ministry of Energy and Mines (MINEM).

Under this reform, the Directorate General of Mining Formalization within MINEM will assume exclusive responsibility for the administrative processing, monitoring, and enforcement of formalization-related matters. The changes are grounded in Law No. 32213, published in December 2024, and are designed to enable a more centralized, technical, and transparent regulatory process.

This centralization will be further supported by the implementation of a new national traceability platform, the Sistema Interoperable de la Pequeña Minería y Minería Artesanal (SIPMMA), which aims to improve oversight and data integration across registered mining activities.

While the reform has raised concerns among regional governments regarding reduced local oversight and the implications for decentralized governance, Element79 believes the changes may ultimately contribute to improved regulatory clarity and operational efficiencies across the sector.

"We are closely monitoring this policy shift and its implementation," commented James Tworek, CEO and Director of Element79 Gold Corp. "Given Lucero's location and strategic focus within the artisanal and small-scale mining segment, we view enhanced regulatory structure and centralized oversight as potentially beneficial, provided that community engagement and regional collaboration remain part of the process."

The Company further notes that the extension of the REINFO deadline through December 2025 allows additional time for regional operators and stakeholders to advance their formalization efforts, which may support ongoing engagement strategies with artisanal miners operating within and around the Lucero Project.

Element79 Gold Corp believes in the long-term potential of the Lucero Project, continues to maintain the project's mineral leases, and is proud of the community-based investments, social development efforts, and relationships it has built since acquiring Lucero at the end of June 2022. The Company will continue its efforts in forging contracts with the local community for both the formalization of local artisanal miners as well as the Company's own exploration and development of Lucero into a producing mine.

Corporate Strategy Refocus

In addition to ongoing efforts and campaigns to work in Chachas, the Company's management and board identifies that following notable successes in developing and monetizing assets in Nevada, it will be carrying out a renewed strategic focus in the region.  This strategic shift will include dealing and development of its current portfolio of Nevada projects, growth of the management team with regionally-specific exploration experience, as well as is reviewing additional M&A opportunities in the region.

For more information about the Company and its projects, please visit: www.element79.gold

ON BEHALF OF THE BOARD OF DIRECTORS

James C. Tworek

Chief Executive Officer, Director

Element79 Gold Corp.

E: jt@element79.gold

Investor Relations Contact:

E: investors@element79.gold

T: +1.403.850.8050

About Element79 Gold Corp.

Element79 Gold Corp. is a mining company focused on the exploration and development of high-grade gold and silver projects in the Americas. The Company's flagship asset, the Lucero Project, is a past-producing high-grade gold-silver mine located in Arequipa, Peru. The Company is actively advancing Lucero toward renewed production and tailings reprocessing while supporting formalization initiatives with local operators.

The Company also holds several exploration projects along Nevada's Battle Mountain trend, a region renowned for prolific gold production, and these assets are under contract for sale in the first half of 2025.  Additionally, Element79 has transferred its Dale Property in Ontario to its subsidiary, Synergy Metals Corp., as part of a Plan of Arrangement spin-out process.

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 timing and completion of the arrangement and the timing and completion of the amalgamation. 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".

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Copyright (c) 2025 TheNewswire - All rights reserved.

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(TheNewswire)

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Vancouver, BC TheNewswire June 30, 2025 - Element79 Gold Corp. (CSE: ELEM | FSE: 7YS0 | OTC: ELMGF) ("Element79" or the "Company") announces its forward corporate guidance for the remainder of 2025, outlines recent strategic developments regarding its Lucero Project in Peru, and reaffirms its operational focus on its advanced-stage projects in Nevada, USA.

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(TheNewswire)

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(TheNewswire)

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(TheNewswire)

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Freegold Ventures Limited - Results of the Annual General and Special Meeting

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Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) ("Freegold" or the "Company ") is pleased to announce that all matters set out in the Management Information Circular dated May 26 2025 for the 2025 Annual General and Special Meeting of Shareholders held on June 27, 2025 (the "Meeting") were approved by the shareholders holding 98,154,137 shares were voted representing approximately ~ 18.56% of the outstanding shares of the Company.

Freegold Logo (CNW Group/Freegold Ventures Limited)

The following nine nominees were elected as directors of Freegold. The detailed results of the vote for the election of directors are set out below:

MOTIONS

NUMBER OF SHARES

PERCENTAGE OF VOTES CAST

FOR

AGAINST

WITHHELD/
ABSTAIN

FOR

AGAINST

WITHHELD/
ABSTAIN

To elect as Director :Kristina Walcott

96,353,303


1,800,834

98.165 %


1.835 %

To Elect as Director: Alvin Jackson

97,016,593


1,137,544

98.841 %


1.159 %

To Elect as Director: David Knight

85,790,018


12,364,119

87.403 %


12.597 %

To Elect as Director: Garnet Dawson

97,308,977


845,160

99.139 %


0.861 %

To Elect as Director: Ron Ewing

96,839,477


1,314,660

98.661 %


1.339 %

To Elect as Director: Glen Dickson

85,396,927


12,757,210

87.003 %


12.997 %

To Elect as Director: Reagan Glazier

79,513,338


18,640,799

81.009 %


18.991 %

To Elect as Director: Maurice Tagami

97,900,807


253,330

99.742 %


0.258 %

To Elect as Director: Vivienne Artz

93,614,569


4,539,568

95.375 %


4.625 %

The Company's shareholders approved the appointment of Davidson & Company LLP, Chartered Professional Accountants, as the Company's auditors, as set forth in the management information circular.

The Company's shareholders approved the Company's new omnibus equity incentive plan.

Each of the matters voted upon at the Meeting is discussed in detail in the Company's Information Circular dated May 26 th, 2025, which is filed under the Company's profile at www.sedarplus.com.

Golden Summit Project Update:

Drilling at Golden Summit is progressing well. Drilling is focused on resource definition, which includes both expansion and infill drilling, as well as geotechnical and metallurgical holes. Like the 2024 drill program, the current efforts aim to upgrade inferred resources to indicated status in preparation for the upcoming pre-feasibility study, which is expected to commence later this year. An updated mineral resource estimate is expected to be finalised soon, and the initial assay results from the 2025 drill program are also anticipated shortly.

The Qualified Person for this release is Alvin Jackson , P.Geo., Vice President of Exploration and Development for Freegold, who has approved the scientific and technical disclosure in this news release.

About Freegold Ventures Limited  
Freegold is a TSX-listed company focused on exploration in Alaska . It holds the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood through leases.

Some statements in this news release contain forward-looking information, including, without limitation, statements as to planned expenditures and exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report, and any other future plans. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programs on schedule, and the success of exploration programs. See Freegold's Annual Information Form for the year ended December 31st, 2024 , filed under Freegold's profile at www.sedar.com , for a detailed discussion of the risk factors associated with Freegold's operations. On January 30, 2020 , the World Health Organization declared the COVID-19 outbreak a global health emergency. Reactions to the spread of COVID-19 continue to lead to, among other things, significant restrictions on travel, business closures, quarantines, and a general reduction in economic activity. While these effects have been reduced in recent months, the continuation and re-introduction of significant restrictions, business disruptions, and related financial impact, and the duration of any such disruptions cannot be reasonably estimated. The risks to Freegold of such public health crises also include employee health and safety risks and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak. Such public health crises, as well as global geopolitical crises, can result in volatility and disruptions in the supply and demand for various products and services, global supply chains, and financial markets, as well as declining trade and market sentiment and reduced mobility of people, all of which could affect interest rates, credit ratings, credit risk, and inflation. As a result of the COVID-19 outbreak, Freegold has implemented a COVID management program and established a full-service Camp at Golden Summit to attempt to mitigate risks to its employees, contractors, and community. While the extent to which COVID-19 may impact Freegold is uncertain, it is possible that COVID-19 may have a material adverse effect   on Freegold's business, results of operations, and financial condition.

SOURCE Freegold Ventures Limited

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2025/27/c9322.html

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