Gold79 Announces Director Appointment and Stock Option Grant

Gold79 Announces Director Appointment and Stock Option Grant

Ottawa, Ontario–(Newsfile Corp. – February 12, 2021) – Gold79 Mines Ltd. (TSXV: AUU) (“Gold79” or the “Company”) is pleased to announce changes to its board of directors with the appointment of Mr. Paul Carrêlo as an independent director effective February 12, 2021. Mr. Derek Macpherson has stepped down as a director of the Company in order to focus on his new role as Senior Vice-President, Investment Banking at Red Cloud Securities Inc.

Mr. Carrêlo brings extensive resource investment, mining and investment banking experience to the Gold79 Board of Directors. Mr. Carrêlo was a senior investment professional with Resource Capital Funds (“RCF”) based in both Denver and Santiago over the period from 2008 to 2020. Mr. Carrêlo was instrumental in establishing RCF’s Santiago office in 2014 to focus on building a greater presence in the Latin American region. In 2017, he returned to Denver with RCF as a senior member of a deal team focused on active portfolio management, investment strategy and leading transactions. Mr. Carrêlo is an Executive MBA candidate at Saïd Business School, University of Oxford; has a M.Sc. Metals and Energy Finance from Imperial College London; and, a B.A. Hons. in Economics from Durham University.

Mr. Gary Thompson, Executive Chairman and CEO, stated, “I am pleased to welcome Paul to the Gold79 board of directors. His extensive experience in resource and mine finance positions him well to contribute significantly to the Gold79 board as we position the Company for growth and continue focus on our strategy to build gold ounces at our Southwestern USA projects. Additionally, I want to thank Derek Macpherson for his contributions to Gold79 and wish him well in his new role at Red Cloud Securities.”

Additionally, the Company announces that its board of directors has approved a grant of options for 500,000 common shares to Mr. Carrêlo in his role as director of the Company pursuant to the Company’s 2020 Stock Option Plan. These stock options have an exercise price of $0.10 per share and expire on February 12, 2031. 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. (formerly Aura Resources Inc.) is a TSX Venture listed company engaged in the acquisition, exploration and development of precious metal prospects in the Southwest USA. Gold79 holds 100% earn-in option and / or 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 held by Minaurum Gold Inc. and now under option to Fortuna Silver Mines Inc.

For further information regarding this press release contact: Gary Thompson, Executive Chairman, by email at [email protected]. Gold79’s website is located at

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 future 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 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.

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