Element79 Gold Reports Additional High-Grade Results from Pillune, Sando Alcalde regions of Lucero Project.

(TheNewswire)

Vancouver, BC TheNewswire - February 13, 2024 Element79 Gold Corp. (CSE:ELEM) (OTC:ELMGF) (FSE:7YS0) ("Element79 Gold", the "Company") is pleased to announce the final results of the 2023 work campaign that SLM Resource Group ("SLM") completed at the Lucero mine project in Arequipa, Peru.

HIGHLIGHTS:

ELEM's 2023 focus was on identifying and revisiting historic workings at the past-producing Lucero mine where previous commercial production came from: Apacheta, Pillune and Sando Alcalde Areas.
A total of 72 chip samples were collected as part of the 2023 SLM program, with the final 27 taken from the Pillune and Sando Alcalde areas forming this release (Figure 1, 2 3).;
- 1.7 oz/t Gold and 189 oz/t Silver at Sando Alcalde, sample LUC2023-059
- 2.6 oz/t Gold and 3 oz/t Silver at Pillune, sample LUC2023-063
These assays results reflect multi-ounce Gold and multi-ounce Silver nature of the Lucero mineralization, and reinforces the significant potential of restarting this past-producing mine in the near term;
Further lab assays from later 2023 work campaigns are being received shortly and will be released as soon as available.

"We are grateful for SLM's body of work and pleased with its results as it has helped shine a light on the current state of the vein in the historic workings and project viability. As anticipated, this final batch of 27 assays from SLM's 2023 underground sampling program revealed impressively high-grade gold and silver mineralization, up to 2.6 ounces per ton gold and 189 ounces per ton silver, in addition to some great base metals results. Combined with the chip sample assays that were received from SLM's work at the Apacheta and Pillune regions (see news releases April 27, 2023 and February 6, 2023 ) of the Lucero mine, this clarifies an exciting picture of what we believe will be a significant, high-grade mining operation." said James Tworek, CEO and Director of Element79 Gold.

The assay results were collected underground as chip samples across several veins from the Pillune and Sando Alcalde Areas, where local Informal miners have worked sporadically since the Lucero (then, Shila) mine ceased commercial production in 2005. The 2023 work program carried out by SLM Resource Group focused on three different underground workings and revealed high-grade gold-silver mineralization (Table 1.) and host veins ranging from 0.1 to 0.3 meters thick.

Table 1. Underground chip sample assay results for the Pillune Area and Sando Alcalde Area of the Lucero Project

Sample	Au	Au	Ag	Ag	Cu	Pb	Zn	Vein	Area
Number	g/tonne	Oz/ton	g/tonne	Oz/ton	%	%	%	Width (m)
LUC2023-46	20.1	0.59	1706	49.8	0.09	0.59	0.75	0.30	Sando
LUC2023-47	37.8	1.10	3589	104.7	0.10	0.97	1.38	0.30	Sando
LUC2023-48	27.3	0.80	2243	65.4	0.06	0.83	1.00	0.30	Sando
LUC2023-49	57.5	1.68	6495	189.4	0.21	1.70	1.80	0.30	Sando
LUC2023-50	40.1	1.17	2881	84.0	0.11	2.55	6.87	0.30	Sando
LUC2023-51	1.5	0.04	110	3.2	0.13	0.70	0.17	0.40	Sando
LUC2023-52	11.5	0.33	1167	34.0	0.05	0.31	0.45	0.30	Sando
LUC2023-53	0.5	0.01	49	1.4	0.27	2.91	2.23	0.05	Sando
LUC2023-54	0.4	0.01	80	2.3	0.39	6.58	3.08	0.05	Sando
LUC2023-55	8.9	0.26	124	3.6	0.02	0.39	0.58	0.30	Sando
LUC2023-56	0.6	0.02	201	5.9	0.24	11.50	0.47	0.30	Sando
LUC2023-57	25.5	0.74	94	2.7	0.00	0.09	0.03	0.40	Sando
LUC2023-58	32.2	0.94	127	3.7	0.01	0.08	0.05	0.10	Pillune
LUC2023-59	37.0	1.08	1648	48.1	0.04	0.31	0.32	0.10	Pillune
LUC2023-60	18.3	0.53	957	27.9	0.02	0.18	0.18	0.10	Pillune
LUC2023-61	6.9	0.20	303	8.8	0.02	0.07	0.07	0.10	Pillune
LUC2023-62	9.6	0.28	264	7.7	0.01	0.30	0.35	0.10	Pillune
LUC2023-63	90.4	2.64	104	3.0	0.01	0.42	0.89	0.05	Pillune
LUC2023-64	24.1	0.70	94	2.7	0.01	0.17	0.44	0.10	Pillune
LUC2023-65	19.0	0.55	628	18.3	0.04	0.39	0.83	0.10	Pillune
LUC2023-66	50.6	1.47	529	15.4	0.19	2.06	0.96	0.10	Pillune
LUC2023-67	37.8	1.10	1111	32.4	0.21	2.51	0.84	0.10	Pillune
LUC2023-68	28.6	0.83	215	6.3	0.01	0.04	0.04	0.10	Pillune
LUC2023-69	25.0	0.73	78	2.3	0.00	0.02	0.03	0.10	Pillune
LUC2023-70	2.2	0.06	79	2.3	0.02	0.05	0.07	0.10	Pillune
LUC2023-71	4.3	0.12	84	2.4	0.03	0.08	0.07	0.10	Pillune
LUC2023-72	40.4	1.18	479	14.0	0.05	0.51	0.78	0.10	Pillune

"The areas of the Lucero project that we are focused on in the initial stages of development are the veins that have provided past commercial production. These final assay results form a complete set of data from the SLM work campaign from 2023 undoubtedly confirm the high-grade nature of the former mine, consistent with visible mineralization observed during our team's site visits and by prior operators," said James Tworek, CEO of Element79 Gold. "Along with data from our 2023 and previous work programs, we will be analyzing and modelling these results as drivers for drill targeting in and around the commercially exploitable veins."

Click Image To View Full Size

Figure 1. Lucero Project showing major historic mining areas, specifically the Apacheta, Pillune, and Sando Alcalde areas that were the focus of the 2023 program. Select 2023 chip sample assay results are shown for all three areas (see news releases April 27, 2023, February 6, 2023 and this release)

Click Image To View Full Size

Figure 2. Satellite image showing the Pillune and Sando Alcalde Areas of the Lucero Project, mine workings and veins that were sampled during the 2023 work program.

Click Image To View Full Size

Figure 3. Photographs of select underground chip sample locations at Pillune and Sando Alcalde Areas: A LUC2023-46, 47 & 48 (0.6 oz/t gold / 50 oz/t silver, 1.1 oz/t gold / 105 oz/t silver & 0.8 oz/t gold / 65 oz/t silver respectively), B LUC2023-57 ( 0.7 oz/t gold / 3 oz/t silver), C LUC2023-49 & 50 (1.7 oz/t gold / 189 oz/t silver & 1.2 oz/t gold / 84 oz/t silver respectively), D LUC2023-66 & 67 (1.5 oz/t gold / 15 oz/t silver & 1.1 oz/t gold / 32 oz/t silver respectively).

Tworek added, "These positive results, along with historical data are being modeled and analyzed to produce underground and surface drill targets for our upcoming Q1/Q2 drill program. We look forward to updating our investors on additional plans for the 2024 field season once this modeling is complete "

About the Lucero Project

Formerly operated as the Shila mine from 1989 to 2005 by Buenaventura (NASDAQ:BVN), Lucero consists of 10,813 hectares located in the Shila range of southern Peru, which contains several historic high-grade gold-silver mines. Lucero consistently delivered high grades during 16 years of operations, and between 1998 and 2004 reported production averaging approximately 18,800 ounces of gold and 435,000 ounces of silver per year at grades of 14.0 g/t gold and 373 g/t silver, with recoveries at the ore processing facility averaging 94.5% for gold and 85.5% for silver.

QA/QC

All samples were collected by Helmut Herrera of SLM Mining Services S.A.C of Peru (Lima) and submitted to Certimin S.A. of Peru (Lima). Samples were prepared by crushing to 90% passing 100 g/t) was analysed by four acid digestion and AAS finish, silver >1000 g/t was analysed by fire Assay with a gravimetric finish. Overlimit lead and zinc were analysed by ore grade techniques using four acid digestion and ICP-OES finish.

Qualified Person

The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Director of Element79 Gold and a "qualified person" as defined by National Instrument 43-101.

About Element79 Gold Corp

Element79 Gold Corp is a gold and silver mining company committed to maximizing shareholder value through responsible mining practices and sustainable development of its projects. Element79 Gold's core 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 has also signed an Option Agreement to sell the Maverick Springs project, an advanced-stage exploratory property with an Inferred Resource of 3.71MMoz AuEq (1.37MMoz Au and 175MMoz Ag) (see 43-101 technical report titled: Amended Technical Report on the Maverick Springs Project, Nevada, USA, by Allan Armitage, PhD., P.Geo, and Rohan Millar, B.Sc. P.Geo., dated October 7, 2022, available on SEDAR) and anticipates completing this sale on or before July 21, 2024.

In British Columbia, Element79 Gold has executed a Letter of Intent and funded a drilling program to acquire a private company that holds the option to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims located in Central British Columbia, approximately 20km west of Fort St. James.

The Company has 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.

The Company's 2023 review and Corporate Update can be reviewed HERE

For more information about Element 79 Gold Corp., please visit www.element79.gold .

For corporate matters, please contact:

James C. Tworek, Chief Executive Officer

Email: jt@element79.gold

For investor relations inquiries, please contact:

Investor Relations Department
Phone: +1 (403)850.8050
Email: 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 in light of 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: 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.

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Element79 Gold Corp Shares Further Advances With Chachas Community on Lucero Surface Rights, Provides Corporate Update

(TheNewswire)

VANCOUVER, BC - T heNewswire - October 24, 2024 *Element79 Gold Corp.* (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS0) ("Element79" or the "Company") is pleased to announce additional progress towards obtaining approval of its surface rights contract at the Lucero project in Peru, through ongoing community engagement and recent approval at the Chachas General Assembly.

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Element79 Gold Corp. Reports Significant Progress in Community Relations and Development Efforts in Chachas, Peru

(TheNewswire)

October 9, 2024 TheNewswire - Vancouver, B.C. Element79 Gold Corp. (CSE: ELEM) (FSE: 7YS0) (OTC: ELMGF) ("Element79" or the "Company") is pleased to announce significant progress in its ongoing community engagement efforts with the community of Chachas, Peru, near the Company's Lucero Project. These efforts are part of the Company's broader strategy to align mining operations with sustainable community development and long-term value creation.

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Grande Portage Announces Non-Brokered Private Placement Pursuant to the Listed Issuer Financing Exemption

Not for distribution to United States newswire services or for dissemination in the United States.

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to announce a non-brokered private placement of up to 10,000,000 units (each, a "Unit") at a price of C$0.30 per Unit for aggregate gross proceeds of up to C$3,000,000 (the "Offering"). The Offering is being carried out pursuant to Part 5A of National Instrument 45-106 - Prospectus Exemptions (the "LIFE Exemption") to purchasers resident in Canada, and in jurisdictions outside of Canada in compliance with the applicable securities laws of those jurisdictions. The Company has an offering document (the "Offering Document") related to the Offering that can be accessed under Grande Portage's profile at www.sedarplus.ca and on the Company's website at https:grandeportage.com. Prospective investors should read the Offering Document before making an investment decision

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Lode Gold Submits Application for Exchange Approval to Form Spin Co, Gold Orogen - a Yukon & New Brunswick Exploration Company

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold " or the "Company") is pleased to announce that it has submitted application to the TSX Venture exchange for approval of the Spin-out of Gold Orogen, as described on its August 27, 2024 and October 22, 2024 news release. The details regarding the Lode Gold shareholder's meeting that is expected to be held in early December 2024 will follow with an information circular to be filed by early November 2024. Lode Gold will seek the approval from shareholders on the Plan of Arrangement, and upon Exchange approval, set the Record Date for distribution of the shares of the new company to shareholders of Lode Gold.

The Company also announces that pursuant to a director resolution passed on July 26, 2024, and a special resolution passed by shareholders of the Company on July 6, 2023, the Company has consolidated its capital on a ten for one (10:1) basis. Post-consolidation, the Company's capitalization composes of unlimited common shares with no par value, of which 38,032,970 shares are issued and outstanding.

Effective at the opening, Tuesday October 29, 2024, the common shares of Lode Gold Resources Inc. will commence trading on the TSX Venture Exchange on a consolidated basis. The Company is classified as a mining company.

Name of Company: No change.
Escrow shares: None
Transfer agent: Odyssey Trust Company.
Trading symbol: LOD (unchanged)
CUSIP number: 540196 20 1 (new)

"The Company has been contemplating share consolidation for sometime. With significant milestones achieved in the last 12 months and more upcoming catalysts, it makes strategic sense now to execute the consolidation. A key catalyst upcoming in a few months is share distribution of Gold Orogen to shareholders of Lode Gold, a significant step in unlocking value.

With a tight capital structure we can more effectively attract new investors. Of note, four shareholders hold over 60% shares of 38 million post-consolidated shares." states Wendy T. Chan, CEO and Director of Lode Gold.

About Lode Gold

Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

Its Golden Culvert and WIN Projects in Yukon, covering 99.5 km² across a 27-km strike length, are situated in a district-scale, high-grade-gold-mineralized trend within the southern portion of the Tombstone Gold Belt. Gold deposits and occurrences within the Belt include Fort Knox, Pogo, Brewery Creek and Dublin Gulch, and Snowline Gold. A NI 43-101 technical report entitled "Technical Report on the WIN-Golden Culvert Property for Lode Gold" with an effective date of May 15, 2024, summarizing the work to date on these properties is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com).

In New Brunswick, Lode Gold has created one of the largest land packages with a 42km strike within 420km². Its McIntyre Brook Project, New Brunswick, covering 111 km² and a 17-km strike length in the emerging Appalachian/Iapetus Gold Belt, is surrounded by Puma Exploration's Williams Brook Project (5.55 g/t Au over 50m)¹ and is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project. The Fancamp's Riley Brook is a 309 km² package covering a 25 km strike of Wapske formation with its numerous felsic units. Previous exploration efforts have focused on just VMS-style mineralization hosted in the felsic intrusions, and mostly focused on the base metals - the Company is the first to focus on and assay for gold. This transaction will close upon Exchange's acceptance.

The Company is also advancing its Fremont Gold development project in the historic Mother Lode Gold Belt of California where 50,000,000 oz of gold has been produced. Fremont, located 500km north of Equinox Gold's Castle Mountain and Mesquite mines, has a Preliminary Economic Assessment(" PEA") with an after-tax NPV (5%) of USD $217M, a 21% IRR, 11-year LOM, averaging 118,000 Oz per annum at USD $1,750 gold. A sensitivity to the March 31, 2023, PEA at USD $2,000/oz gold gives an after-tax NPV (5%) of USD $370M and a 31% IRR over an 11-year LOM. The project hosts an NI 43-101 resource of 1.16 MOz at 1.90 g/t Au within 19.0 MT Indicated and 2.02 MOz at 2.22 g/t Au within 28.3 MT Inferred. The MRE evaluates only 1.4 km of the 4 km strike length of the Fremont property which features five gold-mineralized zones. Significantly, three step-out holes at depth hit the mineralized structure, typical of orogenic deposits that often occur at depth. Fremont is located on 3,351 acres of 100% owned private land in Mariposa, the original Gold Rush County, and is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail.

Please refer to the Fremont Gold project NI 43-101 PEA technical report dated March 31, 2023, which is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com). The PEA technical report has been reviewed and approved by independent "Qualified Persons" Eugene Puritch, P.Eng., FEC, CET, and Andrew Bradfield, P.Eng. both of P&E, and Travis Manning, P.E. of KCA.

QUALIFIED PERSON STATEMENT

The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology - UCT), FAusIMM, and who is a "qualified person" as defined by NI-43-101.

ON BEHALF OF THE COMPANY

Wendy T. Chan, CEO & Director

Information Contact

Winfield Ding
CFO
info@lode-gold.com
+1-416-320-4388

Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (647) 725-3888 ext. 702

Cautionary Note Related to this News Release and Figures

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.

Cautionary Statement Regarding Forward-Looking Information

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the anticipated use of proceeds from the Special Warrant financing, additional proceeds from the exercise of the warrants underlying the Special Warrants, and the receipt of final acceptance from the TSX Venture Exchange with respect to the transactions, are forward-looking statements. Although Lode Gold believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Lode Gold can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Lode Gold's periodic filings with Canadian securities regulators, and assumptions made with regard to: the ability of Lode Gold to obtain final acceptance from the TSX Venture Exchange with respect to the transactions; that the Company will be able to use the proceeds of the Special Warrant financing as anticipated; and the ability of the Company to continue with its stated business objectives and its ability to obtain required approvals and raise additional capital to proceed. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from expectations include risks associated with the business of Lode Gold and Fancamp; risks related to the Company's ability to obtain final acceptance from the TSX Venture Exchange with respect to the transactions; the risk that the use of proceeds from the Special Warrant financing may differ from management's expectations; and other risk factors as detailed from time to time and additional risks identified in the Companies' filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

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Rua Gold Announces Siren Shareholders Vote to Approve Acquisition of Reefton Resources Pty Limited

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) ("Rua Gold" or the "Company"), is pleased to announce that its previously announced proposed acquisition (the "Transaction") of Reefton Resources Pty Limited ("Reefton") was approved at today's special meeting of the shareholders of Siren Gold Ltd. (ASX: SNG) ("Siren"). Reefton is a 100% owned subsidiary of Siren, with tenements located adjacent to the Company's suite of properties in New Zealand's prolific Reefton Goldfield.

Robert Eckford, CEO of Rua Gold, stated: "Recognizing the strategic rationale to create a district scale exploration opportunity covering some of the highest-grade gold and antimony assets in the world, Siren's shareholders overwhelmingly voted in favor of this transformational transaction. The combined Company benefits from having both the local Reefton teams working together and Brian Rodan, Chairman of Siren joining the Rua Gold board. We have a proven Board and Management team, in a favorable jurisdiction, looking to generate superior returns for both Siren and Rua Gold shareholders. Seeing the competing offer from Federation Mining made on October 14, 2024 only confirms our thesis on the high grade potential of this district and we are excited to deliver results."

Closing of the Transaction is expected to occur in November 2024, subject to satisfaction of customary closing conditions for a transaction of this nature and the receipt of final approval from the TSX Venture Exchange ("TSXV").

Actively Advancing a District-Scale Discovery in a Tier 1 Jurisdiction:

Represents the next chapter in Rua Gold's development towards our goal to be a major gold producer in New Zealand.
Newly consolidated project represents one of the least explored, high-grade gold districts in the world.
Permits, access, and consents in place for aggressive drilling following a district-wide reassessment of targets and potential on the combined land package.
The Transaction will increase regional tenement holdings from ~34k ha to ~120k ha and cover all known past production camps outside of Blackwater and the Globe Progress mine.
Potential for lower overall project capital expenditures through the development of a potential central processing hub.
The Transaction creates a bigger player in New Zealand, allowing greater opportunity to work alongside a pro-mining Government in helping them draft their Minerals Strategy for New Zealand.
Backed by team of mining professionals with +150 years of combined experience.

Figure 1: Tenement map of the Reefton Goldfield.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/228012_6c99946d74ab494d_006full.jpg

Figure 2: Cross Section of historic underground mines in the Reefton Goldfield.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/228012_6c99946d74ab494d_007full.jpg

Transaction Highlights

Under the terms of the Amended Agreement, Siren shall receive total consideration of A$22 million (C$20.4 million):

A$2 million (C$1.8 million) in cash, of which A$1 million has been paid and the remaining A$1 million will be paid at the close of the Transaction;
A$2 million (C$1.8 million) in cash in exchange for 10,000,000 common shares of Siren, to be exchanged at the close of the Transaction; and
83,927,383 fully paid shares of Rua Gold representing A$18 million (C$16.6 million¹), to be issued at the close of the Transaction with agreed contractual resale restrictions.

Upon completion of the Transaction, Siren will own approximately 26% of Rua Gold, and Siren Chairman, Mr. Brian Rodan, will join the Rua Gold Board.

Advisors and Legal Counsel

Cormark Securities Inc. is acting as financial advisor to the Company and its Board of Directors. McMillan LLP is acting as Canadian legal counsel to the Company. Red Cloud Securities Inc. is acting as financial advisor to Siren and its Board of Directors. Steinepreis Paganin is acting as Australian legal counsel to Siren.

About Rua Gold

Rua Gold is an exploration company, strategically focused on New Zealand. With decades of expertise, our team has successfully taken major discoveries into producing world-class mines across multiple continents. The team is now focused on maximizing the asset potential of RUA's two highly prospective high-grade gold projects.

The Company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand's South Island. Rua Gold will have approximately 120,000 hectares of tenements, following the completion of its previously announced acquisition of Reefton Resources Pty Limited², in a district that historically produced over 2 million ounces of gold grading between 9 and 50 grams per tonne.

The Company's Glamorgan Project solidifies Rua Gold's position as a leading high-grade gold explorer on New Zealand's North Island. This highly prospective project is located within the North Islands' Hauraki district, a region that has produced an impressive 15 million ounces of gold and 60 million ounces of silver. Glamorgan is within 3 kms of OceanaGold Corporation's biggest gold mining project, WKP.

For further information, please refer to the Company's disclosure record on SEDAR+ at www.sedarplus.ca.

Rua Gold Contact

Robert Eckford
Chief Executive Officer
Email: reckford@RUAGOLD.com
Website: www.RUAGOLD.com

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and specifically include statements regarding: the Company's strategies, expectations, planned operations or future actions; closing of the Transaction; effects and benefits of the Transaction; and receipt of final approval for the Transaction from the TSXV. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.

Investors are cautioned that any such forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. A variety of inherent risks, uncertainties and factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include: general business, economic, competitive, political and social uncertainties; risks related to the effects of the Russia-Ukraine war; risks related to climate change; operational risks in exploration, delays or changes in plans with respect to exploration projects or capital expenditures; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; changes in labour costs and other costs and expenses or equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, including but not limited to environmental hazards, flooding or unfavourable operating conditions and losses, insurrection or war, delays in obtaining governmental approvals or financing, and commodity prices. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's CSE Form 2A - Listing Statement filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors.

Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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Hole ID	Easting (UTM WGS84, 29N)	Northing (UTM WGS84, 29N)	Elevation (m)	Azimuth	Dip	Depth (m)
ALDD001	307380	729170	35	100	-50	130.40
ALDD002	307345	729240	46	100	-50	154.75
ALDD003	307428	729485	36.00	110	-50	150.15
ALDD004	307800	730161	39.00	90	-50	120.15
ALDD005	307822	730108	34.00	90	-50	112.85
ALDD006	307673	729885	49.00	100	-50	150.85
ALDD007	307492	728934	35.00	280	-60	162.30
ALDD008	307892	730144	37.00	75	-50	167.35

Hole ID	From (m)	To (m)	Interval (m)	Average Au (g/t)
ALDD001	39.62	48.00	8.38	0.29
ALDD001	54.45	56.00	1.55	2.00
Including	54.45	55.20	0.75	3.70
ALDD001	59.00	61.00	2.00	0.27
ALDD001	66.00	67.00	1.00	0.20
ALDD001	89.00	90.00	1.00	0.28
ALDD002	50.00	51.00	1.00	0.31
ALDD002	98.00	99.00	1.00	0.26
ALDD002	109.00	112.00	3.00	0.34
ALDD003	50.88	52.38	1.50	0.32
ALDD003	72.21	87.00	14.79	0.30
ALDD003	96.00	100.00	4.00	0.32
ALDD004	45.50	49.00	3.50	0.46
ALDD004	68.25	69.00	0.75	1.16
ALDD004	79.00	81.00	2.00	0.37
ALDD004	96.00	97.00	1.00	0.23
ALDD005	70.80	72.00	1.20	0.28
ALDD006	0.00	1.50	1.50	0.36
ALDD006	53.00	55.00	2.00	0.37
ALDD006	77.00	84.00	7.00	0.47
ALDD006	102.00	103.10	1.10	0.27
ALDD007	0.00	1.00	1.00	0.26
ALDD007	7.00	13.00	6.00	0.37
Including	9.00	10.00	1.00	1.20
ALDD007	20.00	21.00	1.00	0.35
ALDD007	27.00	29.00	2.00	1.37
Including	27.00	28.10	1.10	2.21
ALDD007	80.70	84.75	4.05	13.92
Including	83.15	84.75	1.60	34.50
Including	83.15	83.90	0.75	9.91
Including	83.90	84.75	0.85	56.20
ALDD007	90.00	91.00	1.00	0.77
ALDD007	97.00	98.00	1.00	0.25
ALDD007	101.00	104.00	3.00	0.27
ALDD008	30.80	35.05	4.25	0.99
Including	30.80	31.50	0.70	5.25
ALDD008	39.00	40.00	1.00	0.31
ALDD008	44.00	51.00	7.00	2.23
Including	47.00	48.00	1.00	12.65

Element79 Gold Reports Additional High-Grade Results from Pillune, Sando Alcalde regions of Lucero Project.

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