The gold mineralization drilled at Twist Creek consisted of narrow laminated quartz reefs or broader mineralized shear zones containing sulphides, arsenopyrite and pyrite, with or without, silver, galena, and sphalerite. The presence of visible gold was intersected in many of these zones with grades varying from 6 g/t to 43 g/t Au were observed. The mineralized quartz structures and shear zones are interpreted to dip sub-vertically to steep west.

The gold shoot plunge referenced in historical reports, indicate a steep southerly plunge but is difficult to confirm from the Company's shortened drill program. All drillholes at Twist Creek were drilled on inclinations ranging between -30 and -70 degrees and drilled as perpendicular to the targets as the drill sites would allow. Historical mining operations were undertaken on steeply west-dipping quartz vein structures.

Drill core intersection angles of the quartz vein structure range between 45 and 80 degrees to the core axis, so the true width is expected to be between 50% and 80% of the downhole width. All assay results have now been received and 3D geological models completed at the Happy Valley Prospect, including first-pass drilling from nearby Champion-Franklin and Managers Hut prospects. In the Happy Valley historical mining area, the overall gold system comprises four individual reefs of variable widths and grades.

The gold system plunges steeply towards the southeast (60 to 75 degrees southeast) and have been drill tested to 400m below surface where they remain open at depth. The gold mineralization is interpreted to be structurally controlled and located within the axial zone of the overturned Hope Anticline. A series of post-mineralization, low-angle southwest dipping reverse faults, systematically offset the mineralization towards the southeast and with depth, giving rise to the steep gold shoot plunge as shown on the long-section.

Although interpreted as post-mineralization structures, the higher gold grades appear to be associated with the lower angle faults where they are in closer proximity, perhaps suggesting some remobilization and concentration of gold. Drillhole HVD010, the deepest drill intercept within the gold trend, indicates that the mineralization continues and remains open at depth. In the Champion/Franklin historical mining area, mineralization occurs within the western limb of the Franklin Anticline and does not appear to be associated with any significant low angle faulting.

Fold frequency and intensity is variable with as little as 130m between the Hope Anticline and the syncline to the west, while the Franklin Anticline shows a larger 315m to the syncline axis to the west. The 3D geological interpretation has identified up to three gold target zones ­ upper, mid, and deeps, on multiple quartz reefs within and below areas previously drill tested. These targets are currently under review along with an extensive list of other targets within the Myrtleford Project area.

These will be ranked and prioritized for future drilling after the assessment is complete. Following the high-grade gold discovery hole at Happy Valley where drilling intersected 11.1m at 160.45 g/t Au (hole HVD003), the Company made a commitment to ramp up drill activities to test the Twist Creek targets containing up to six lines of reef over a 3km strike length (within the 7km-long trend) that were historically mined with grades up to 2 ounces of gold per tonne. The Twist Creek inaugural drill program was designed to focus on zones containing multiple reef structures with historical gold production.

The Twist Creek area is situated in the northern portion of the Company's Exploration Licence EL006724 in Victoria, Australia. It lies within a 7km-long trend of historical workings and mines. The Twist Creek Mining Centre produced gold at an average grade of 31 g/t Au.

Prior to E79's inaugural drill program, no modern exploration activities had been conducted within this area. At Myrtleford, geological interpretation of the tenement-wide detailed LIDAR is in progress along with reconnaissance rock chip sampling and geological mapping along the 7km-long Twist Creek and 16km-long Magpie trends. Await granting of tenement EL7670 which will extend the Happy Valley trend a further 7km southeast.

Upon granting, reconnaissance rock chip sampling and geological mapping will commence. At the Beaufort Property, further rock chip sampling and mapping of outcropping quartz reefs is in progress. Any further work will be dependent on results.

Assess opportunities to expand the Company's project portfolio in the Victorian Goldfields.