Outstanding High-Grade Copper and Gold Assays from Mountain Home Project, NT

E79 Gold CEO, Ned Summerhayes, said: “These outstanding rock chip copper and gold results highlight the very exciting discovery potential of the Mountain Home Project. Encouragingly, we have now encountered high grades in both copper and gold along the entire length of the known mineralised outcrop, now extended to in excess of 1km strike extent and remains open to the north and south.

“The soil sampling results suggest there may be parallel structures given the across- strike width of anomalism in both copper and gold. These results give us confidence to both follow-up with programmes to extend the Mountain Home copper system and also to follow up historic positive stream and soil samples elsewhere on the project. We are aiming to undertake these exploration programs within the current September Quarter.”

Northern Territory Project

Mountain Home (EL32470 – NT Minerals Option), EL33886 and EL33886 (both under application – 100% E79)

Assays have been returned from E79 Gold’s initial reconnaissance sampling program at Mountain Home, including high-grade copper and gold values along the length of the prospective and extended 1,000m long outcrop. Results for all recent E79 Gold samples are provided (contained below in Table 1) and standout rock-chip assay results (Figure 1) include:

• MHR0004 - 28.9% Cu, 0.16 g/t Au
• MHR0008 - 0.11% Cu, 11.75 g/t Au
• MHR0009 - 22.0% Cu, 0.45 g/t Au
• MHR0010 - 45.5% Cu, 0.08 g/t Au
• MHR0011 - 38.4% Cu, 0.23 g/t Au
• MHR0012 - 24.9% Cu, 1.33 g/t Au
• MHR0013 - 39.8% Cu, 1.72 g/t Au
• MHR0014 – 30.0% Cu, 0.29 g/t Au

It is worth noting that the samples, especially the higher-grade copper results, had abundant oxide-copper mineral malachite (green mineral in Photo 1), that can produce elevated copper results due to supergene (weathering) surficial enrichment. Pure malachite copper content is variable but typically around 57- 58% Cu. Experience has been that the sulphide-rich precursor rocks or sulphide- rich unweathered examples in drilling beneath these types of surface copper assay values will typically be lower grade. For example, 100% un-oxidised chalcopyrite has an average copper content of around 35% Cu – the remainder is iron and sulphur.

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