Production Agreement Template

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GOLD79 Further Consolidates its Gold Chain Land Position with Agreement for Tyro Patented Claims and Provides Sampling Results GOLD79 Further Consolidates its Gold Chain Land Position with Agreement for Tyro Patented Claims and Provides Sampling Results Ottawa, Ontario–(Newsfile Corp. – September 27, 2021) – Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (“Gold79” or the “Company”) is pleased to announce that it has completed a Definitive Lease and Option to Purchase Agreement for the Tyro Group patented claims and results of initial sampling from the Tyro claims. The claims, covering 57.4 acres, are immediately northeast of the Banner patented claims (Figure 1). The Tyro claims were subject to historical mining as recently as the 1980’s (Figure 2) and our initial work has yielded positive gold results. Ottawa, Ontario–(Newsfile Corp. – September 27, 2021) – Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (“Gold79” or the “Company”) is pleased to announce that it has completed a Definitive Lease and Option to Purchase Agreement for the Tyro Group patented claims and results of initial sampling from the Tyro claims. The claims, covering 57.4 acres, are immediately northeast of the Banner patented claims (Figure 1). The Tyro claims were subject to historical mining as recently as the 1980’s (Figure 2) and our initial work has yielded positive gold results. Mr. Derek Macpherson, President & CEO stated, “The Tyro claims contain another highly prospective exploration target for the Company which we plan to test with the current drill program. The ~1 km northeast-trending structure has yielded impressive results from initial sampling and is a high-priority drill target for Gold79.” Mr. Macpherson continued, “This agreement provides us with another set of patented claims, which will be of strategic advantage when we get to the development phase for Gold Chain.”

Figure 1: Gold Chain Project Showing the Location of the Tyro Claims and gold-in-rock values.To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/5717/97654_6637b69604f6c9f0_001full.jpg

Mr. Derek Macpherson, President & CEO stated, “The Tyro claims contain another highly prospective exploration target for the Company which we plan to test with the current drill program. The ~1 km northeast-trending structure has yielded impressive results from initial sampling and is a high-priority drill target for Gold79.” Mr. Macpherson continued, “This agreement provides us with another set of patented claims, which will be of strategic advantage when we get to the development phase for Gold Chain.”

Figure 1: Gold Chain Project Showing the Location of the Tyro Claims and gold-in-rock values.To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/5717/97654_6637b69604f6c9f0_001full.jpg

Figure 2: Looking northeast along the Tyro vein which has been partially exploited by an open slot-type pit. The width of the quartz veining-stockwork zone is about 60 meters with individual veins up to 2 meters wide. To view an enhanced version of Figure 2, please visit:https://orders.newsfilecorp.com/files/5717/97654_6637b69604f6c9f0_002full.jpg Figure 2: Looking northeast along the Tyro vein which has been partially exploited by an open slot-type pit. The width of the quartz veining-stockwork zone is about 60 meters with individual veins up to 2 meters wide. To view an enhanced version of Figure 2, please visit:https://orders.newsfilecorp.com/files/5717/97654_6637b69604f6c9f0_002full.jpg As part of the Company’s due diligence, a trenching, sampling and mapping program was undertaken (Figure 3); highlights from the trenching include: Trench 1 (T1) – 13m of 2.04 g/t Au (13 samples) Trench 2 (T2) – 12m of 1.26 g/t Au (12 samples) Trench 3 (T3) – 11m of 0.79 g/t Au (10 samples) As part of the Company’s due diligence, a trenching, sampling and mapping program was undertaken (Figure 3); highlights from the trenching include: Trench 1 (T1) – 13m of 2.04 g/t Au (13 samples) Trench 2 (T2) – 12m of 1.26 g/t Au (12 samples) Trench 3 (T3) – 11m of 0.79 g/t Au (10 samples) Highlight samples include: 2.0m of 13.2 g/t Au (vein outcrop at NE end of vein complex) 2.0m of 1.02 g/t Au (chip sample of quartz veining in pit wall) 2.0m of 1.23 g/t Au (chip sample of quartz veining in pit wall) 1.0m of 3.55 g/t Au (chip sample of quartz veining in pit wall) Five grab samples returned greater than 10 g/t Au with a high of 15.5 g/t Au Highlight samples include: 2.0m of 13.2 g/t Au (vein outcrop at NE end of vein complex) 2.0m of 1.02 g/t Au (chip sample of quartz veining in pit wall) 2.0m of 1.23 g/t Au (chip sample of quartz veining in pit wall) 1.0m of 3.55 g/t Au (chip sample of quartz veining in pit wall) Five grab samples returned greater than 10 g/t Au with a high of 15.5 g/t Au Tyro Geology Tyro Geology The Tyro Vein is referred to as a Type B vein (Gold79 Press Release; June 22, 2021) which are transverse structures (north-trending) to the northwest-trending mineralized zones parallel to the North Oatman trend. The Type B veins, i.e. Sunset and Tyro veins, are likely hosted by normal faults and are more discernable than the broader stockwork and breccia Type A veins, i.e. Red Hill ‘ledge’ at the Banner mine.

Figure 3: Preliminary Geologic Map of the Tyro claims showing gold-in-rock values (g/t Au)To view an enhanced version of Figure 3, please visit:https://orders.newsfilecorp.com/files/5717/97654_6637b69604f6c9f0_003full.jpg The Tyro Vein is referred to as a Type B vein (Gold79 Press Release; June 22, 2021) which are transverse structures (north-trending) to the northwest-trending mineralized zones parallel to the North Oatman trend. The Type B veins, i.e. Sunset and Tyro veins, are likely hosted by normal faults and are more discernable than the broader stockwork and breccia Type A veins, i.e. Red Hill ‘ledge’ at the Banner mine.

Figure 3: Preliminary Geologic Map of the Tyro claims showing gold-in-rock values (g/t Au)To view an enhanced version of Figure 3, please visit:https://orders.newsfilecorp.com/files/5717/97654_6637b69604f6c9f0_003full.jpg The Tyro mine was developed both underground (early) and as an open pit (1980s) along a broad zone of quartz-chalcedony veins and stockwork hosted by Pre-Cambrian granite. The zone trends NNE, dips steeply and can be traced for over 1 kilometer. Open pit exposures reveal a width exceeding 50 meters (see Figure 2). Prior to 1930, a shaft was sunken to a depth of 500 feet with workings down to the 200-foot level; underground production was minimal and production from the open pit is not currently known. The vein terminates to the SW into a few NNW-trending rhyolite dikes and appears to horsetail to the northeast (Figure 3). Significant gold values have been identified over its entire strike length. The Tyro mine was developed both underground (early) and as an open pit (1980s) along a broad zone of quartz-chalcedony veins and stockwork hosted by Pre-Cambrian granite. The zone trends NNE, dips steeply and can be traced for over 1 kilometer. Open pit exposures reveal a width exceeding 50 meters (see Figure 2). Prior to 1930, a shaft was sunken to a depth of 500 feet with workings down to the 200-foot level; underground production was minimal and production from the open pit is not currently known. The vein terminates to the SW into a few NNW-trending rhyolite dikes and appears to horsetail to the northeast (Figure 3). Significant gold values have been identified over its entire strike length. Key Terms of the Definitive Lease and Option to Purchase Agreement for the Tyro Claims Key Terms of the Definitive Lease and Option to Purchase Agreement for the Tyro Claims

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