Gold79 Announces AGM Results and Stock Option Grant

Gold79 Mines Ltd. (TSXV: AUU) ("Gold79" or the "Company") announces the results of its annual and special shareholder meeting held on June 30, 2021. All matters submitted to the shareholders, as set out in the notice of meeting and management information circular dated May 26, 2021, were voted in favor, including the election of directors, the appointment of PricewaterhouseCoopers LLP as the auditor of the Company for the ensuing year, and ratification of the Company's rolling stock option plan.

Gary Thompson, W. William Boberg, Paul Carrelo, James Franklin and Derek Macpherson were elected to serve as directors of the Company.

Mr. Derek Macpherson, President, CEO and incoming Director stated, "I would like to thank our shareholders for their continued support for our team. We are looking forward to our maiden drill program at the Gold Chain project later this summer, the first drilling campaign for the company in several years."

Additionally, the Company announces that its Board of Directors has approved a grant of stock options to officers, directors and consultants of the Company pursuant to the Company's 2020 Stock Option Plan. A total of 3,100,000 stock options have been granted to acquire common shares in the capital of the Company at an exercise price of $0.085 per share which expire on July 1, 2026. These stock options vest immediately. This stock option grant is subject to acceptance by the TSX Venture Exchange.

About Gold79 Mines Ltd.

Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA. Gold79 holds 100% earn-in option to purchase agreements on three gold projects: the Jefferson Canyon Gold Project and the Tip Top Gold Project both located in Nevada, USA, and, the Gold Chain Project located in Arizona, USA. In addition, Gold79 holds two projects with minority interest being a 37.1% interest in the Greyhound Project, Nunavut, Canada under JV by Agnico Eagle Mines Limited and a 20% carried interest in the Taviche Project in Oaxaca, Mexico now under option to Fortuna Silver Mines Inc.

For further information regarding this press release contact: Derek Macpherson, President and Chief Executive Officer by email at dm@gold79mines.com or by phone at 416-294-6713. Gold79's website is located at www.gold79mines.com.

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including any private placement financings, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company's future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR at www.sedar.com. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89192