Ottawa, Ontario - Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) ('Gold79' or the 'Company') is pleased to announce the completion and analysis of an airborne magnetic and radiometric survey over its Gold Chain project located in Mohave Co., NW Arizona. The survey was conducted in March, 2022 by Goldspot Discoveries Corp. over the entire Gold Chain block. Additionally, the Company is pleased to announce that it has commenced the planned 1,100m drill program at Gold Chain.

Derek Macpherson, President & CEO stated, 'The results of this geophysical survey, coupled with ongoing mapping and sampling work, leads us to believe we have the potential to uncover a larger gold system at Gold Chain. We are excited to be embarking on this Phase 2 drill program that includes Gold79's first drilling at the Sheep Trail patents. Recent work at Sheep Trail has returned more than 15 samples with plus 10 g/t gold while this area has never been systematically explored.'

Summary of Geophysical Results

In low-sulphidation epithermal systems, such as the one at Gold Chain and within the Oatman District, areas of magnetic destruction ('quiet' zones or magnetic lows) and potassium enrichment may reflect the location and aerial extent of hydrothermal alteration and associated gold mineralization. The high-resolution aeromagnetic and radiometric data have been used to identify three magnetic quiet zones: two of these clearly correspond, over about 7 kilometres of strike, with gold-bearing zones associated with Miocene felsic dikes and structures. The distribution of gold values from surface samples, along with the survey results, is shown in Figure 2 & 3.

A third magnetic low closely coincides with the Frisco Graben (Figure 1) which is an emerging target defined by a structurally controlled flow dome complex formed along the margin of a NW-trending, elongate graben. Its proximity to the Tyro vein system and intense argillic alteration provides vectors for shallow (

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