E79 Gold Mines Limited

HIGH-GRADE COPPER, GOLD AND BISMUTH ROCK CHIP ASSAYS RETURNED FROM MOUNTAIN HOME o  Up to 11.95% copper, 2.3g/t gold and 9.09% bismuth E79 Gold CEO, Ned Summerhayes, said: “These outstanding results from our October reconnaissance field program have further enhanced the prospectivity of the Mountain Home Project, with high-grade rock chips returning grades of up to 11.95% copper, 2.3g/t gold and 9.09% bismuth. “Gold and bismuth occurrences are rare in the McArthur Basin, better known to host large scale zinc-lead-silver deposits, with the copper-gold-bismuth association similar to the mineralisation observed at Tennant Creek, indicating that multiple mineralising styles may be present within the Project. “Broad spaced soil sampling has returned anomalous copper results along the 4.5km of tested prospective dolostone unit which hosts the high-grade MH Gossan. This prospective unit can be traced through satellite imagery for some distance along strike to the north and south from the MH Gossan. “The path forward at Mountain Home is clear – E79 Gold has recently received environmental clearance approvals and are in the process of submitting a request for the requisite heritage clearance to facilitate planned drilling in 2025.”  

MOUNTAIN HOME COPPER-GOLD PROJECT, NT – EXPLORATION UPDATE * KEY ENVIRONMENTAL APPROVAL RECEIVED, PAVING WAY FOR DRILL PROGRAMS IN 2025; * PROJECT PROSPECTIVITY ENHANCED BY ONGOING WORK PROGRAMS E79 Gold CEO, Ned Summerhayes, said: “Since the outstanding rock chip results returned from our initial field trip to the Mountain Home Project, where assays of up to 45.5% Cu and 11.75 g/t Au were returned from the 1km long mapped outcropping gossan (the MH gossan), we have been working to put the results into a regional geological framework. “Collectively, the sample assay results from both historic work and E79 Gold’s initial field trip, combined with recent field observations, confirm the potential for the broader region to host several styles of deposit, enhancing the overall prospectivity of the Mountain Home Project. “A follow-up field trip was recently undertaken with soil samples and rock chips acquired in parallel with mapping, with the aim of extending the MH gossan and evaluating regional exploration targets. “Results are pending and expected over the next four weeks. As part of this regional work, a zone of copper anomalism located in one of the tenement applications was identified for immediate follow-up upon granting of the tenement.”

OUTSTANDING HIGH-GRADE COPPER AND GOLD ASSAYS FROM MOUNTAIN HOME PROJECT, NT Assays of up to 45% Cu and 11.75g/t Au from rock chips along with strongly anomalous soil sampling highlight the Project’s significant exploration potential.  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.”

LARGER COPPER SYSTEM MAPPED AT MOUNTAIN HOME PROJECT (NT) E79 Gold is pleased to announce that its' initial field trip has been successful in expanding the copper system in the Northern Territory. The strike extent of previous outcropping copper minerals was expanded from 150m to 800m, with extensions to the north and south. E79 Gold CEO, Ned Summerhayes, said: “It is a fantastic result to get out onto the Mountain Home Project so soon after securing an option to acquire the project. Our initial field trip was highly successful in identifying the copper mineral malachite over an extended 800m strike length. We eagerly await the assay results, which should come through within six weeks.  Once these results are reviewed, our next exploration programme will be a detailed trip to look for further extensions to the current system and the possibility for parallel mineralised structures.” 

SHARE PURCHASE PLAN OFFER WITH ATTACHING JMEI CREDITS West Australian-based explorer E79 Gold Mines Limited is pleased to offer each E79 Gold shareholder, who is registered at 5:00pm (WST) on 27 May 2024 in Australia or New Zealand, an offer to subscribe to a Share Purchase Plan (SPP) for additional shares in E79 Gold at $0.035 per share. The SPP is intended to raise up to $750,000 with funds raised to be used to towards exploration at the newly acquired Mountain Home Copper-Gold Project in the Northern Territory, exploration programs on the Jungar Flats Project in the Murchison and the South Laverton Project, and for working capital purposes. In June 2023, E79 Gold was successful in in its application for participation in the Federal Government’s Junior Minerals Exploration Incentive (JMEI) scheme for the 2023/2024 income year. The Company has received an allocation of up to $1,200,000 in tax credits which may be distributed to eligible investors. E79 Gold remains well funded for its exploration activities. However, E79 Gold are also aware of the potential benefits that tax credits from the JMEI can provide for our Shareholders. By participating in the SPP, you may be able to take advantage of these credits, while also providing funding for further exploration programs for E79 Gold. These tax credits are anticipated to be approximately 1.05 cents per SPP Share and provides Eligible Shareholders with a very attractive effective discount on the subscription share price when the tax credit is included

OPTION TO ACQUIRE THE HIGHLY PROSPECTIVE MOUNTAIN HOME COPPER-GOLD PROJECT, NT E79 Gold Mines Limited (ASX: E79) is pleased to advise it has secured an option to acquire the large-scale Mountain Home Copper-Gold Project located in the Northern Territory. E79 Gold CEO, Ned Summerhayes, said: “The Mountain Home Project came to our attention through our project review process and was simply too good an opportunity to pass up, providing meaningful exposure to the prolific McArthur Basin in the Northern Territory.  “This Proterozoic-aged basin hosts the world’s largest accumulation of shale-hosted zinc-lead-silver mineralisation, including the world-class McArthur River lead-zinc Mine, the Teena zinc-lead discovery, the Redbank copper deposits, and the historic Merlin Diamond Mine, all of which lie within 80km of Mountain Home.   “The Project sits within an under-explored inlier of prospective Proterozoic-age McArthur basin stratigraphy – the host stratigraphy of all major metalliferous deposits within the McArthur Basin.  “The entire 40km strike extent of the inlier is prospective for copper mineralisation, with 27km of strike sitting within the Mountain Home Project area. Rock chip grab sample assay results of up to 33% copper highlight the Project’s exceptional early-stage potential, with associated gold in the rock chip samples of up to 1.31g/t Au. “With the Dry Season now upon us, E79 Gold intends to get on the ground at Mountain Home without delay to explore along strike from these exciting high-grade copper-gold rock-chip results within this highly prospective mineralised province.”