E79 Resources Corp. announced the commencement of the expanded drill program at Happy Valley which will target three prospects that have yet to be drilled. These three targets are within 500 m of the initial high-grade gold discovery announced on November 15, 2021.

E79 is committed to building on and drill-testing targets within the 12 km-long Happy Valley corridor located in the southern area of the Myrtleford Project in Victoria, Australia. The first drill holes have commenced targeting beneath historical workings located within 500 m of the Happy Valley gold system. The aim of the drill program is to identify multiple shoots of mineralization within close proximity to the high-grade gold zone at Happy Valley as demonstrated by previous intercepts, including: 11.10m @ 160.45 g/t gold from 190.4m including 0.6m @ 2,430 g/t gold (hole HVD003); and 5.35m @ 32.07 g/t gold from 149.8m (hole HVD007).

The Franklin/Champion area is the first target to be drilled, and has already been geologically mapped and rock-chip sampled with results up to 7 g/t gold received. The presence of historical mining stopes that were subjected to recent underground geological mapping indicates a moderate-to-steep plunge towards the southeast which will be the focus of the initial program. The program will then move to the Manager's Hill prospect located 300 m along strike from Franklin/Champion.

None of these mined reefs have ever been drill tested so they represent a great exploration opportunity for the Company. The Happy Valley Prospect is situated in the southeastern portion of the Company's Exploration Licence EL006724 in Victoria, Australia. It lies within a 12 km-long trend of historical small-scale mine workings.

The Happy Valley Mining Centre has documented historical production of 34,200 ounces of gold predominantly between 1866 ­ 1875 and produced an average grade of ~31 g/t gold. To date, only limited modern exploration has been conducted at this prospect, with recent drilling by E79 defining bonanza-grade mineralization at depth. Gold mineralization at Happy Valley occurs as quartz veins within carbonate-altered sedimentary units of Lower Ordovician age (448 ­ 443MA).

Regionally, mineralization appears to be proximal and related to the emplacement of several major regional Devonian-age (420-360 MA) granitic plutons. The gold can occur as free particles within the quartz veins and can also be associated with sulphides, including pyrite and to lesser degrees arsenopyrite and galena. Twist Creek Gold Prospect: The Twist Creek Prospect is situated in the northern portion of the Company's Exploration Licence EL006724 in Victoria, Australia.

It lies within a 7 km-long trend of historical small-scale mine workings. The Twist Creek Mining Centre produced gold at an average grade of ~31 g/t. Prior to exploration work carried out by E79, no modern exploration had been conducted at this prospect and it remains highly prospective.