E79 Resources Confirms Steven Butler Along with a Full Suite of Directors

VANCOUVER, BC, Dec. 9, 2020 /CNW/ - E79 Resources Corp. (CSE: ESNR) ("E79" or the "Company") notes that its annual general meeting of shareholders was held on Wednesday December 9, 2020. All items of business set forth in its information circular were approved by shareholders. Five directors were elected: Rory Quinn, Martin Pawlitschek, Grant Wechsel, Vince Sorace and Steven Butler, further details of which are included below.

"I would like to officially welcome Steve Butler to the Board of Directors for E79 Resources as well as welcome all new Directors," said Rory Quinn, E79's President and Chief Executive Officer. "Steve is a superb addition to our team. He's visited hundreds of mining operations around the world in his due diligence capacity as a senior precious metals mining analyst and he'll help E79, in his oversight capacity, to advance its exploration plans and present its technical and corporate activities to the market. I would also like to offer an enthusiastic welcome to Gavin Cooper as the new Chief Financial Officer of the Company."

"I'm proud of the Board and Management team we've been able to assemble at E79. Drawing upon deep capital markets experience in Canada and a wealth of technical knowledge and relationships in Europe, and on the ground in Australia, E79 is exceptionally well positioned to fund and advance a well thought out, systematic and robust exploration program at its Beaufort and Myrtleford properties in the Victorian Goldfields, Australia."

The Company has adopted a 10% rolling stock option plan, which was approved by shareholders at the AGM. The Company has granted, to directors, officers and consultants, 4,300,000 stock options at an exercise price of $0.75 per common share, vesting over a period of 2 years, 25% vesting every 6 months over the 2-year period.

Directors

Rory Quinn, President, Chief Executive Officer and Director

Mr. Quinn has over 15 years of capital markets experience in the global gold mining space and is the former Director, Investor Relations, at Wheaton Precious Metals (previously Silver Wheaton). During his tenure at Wheaton from 2012 to 2019, he worked on acquisitions totalling over US$6 billion as the company built its precious metals business. Mr. Quinn has been involved in the review of hundreds of mining companies and mining assets from large precious-metal producers to earlier-stage developers and explorers in assessing high-quality investment opportunities around the globe.

Martin Pawlitschek, Director

Mr. Pawlitschek is an international mining professional with over 20 years experience, who has held key management positions with a number of junior explorers, private equity investment funds, majors (BHP) and development companies (MDL, Teranga). Cofounder of several resource companies in Eastern Europe and other successful exploration ventures in West Africa. Currently Senior Vice President of Geology for a private equity fund, responsible for undertaking technical due diligence on mining projects, mainly from a geology and resource risk perspective, but with a concurrent focus on exploration upside evaluation.

Grant Wechsel, Director

Mr. Wechsel is the co-founder and executive director of Ortus Mining Capital and Mining Projects Accelerator (MPX). Grant previously co-founded One Key Resources in 2010, a large mining services business which he grew to in excess of $250 Million in annual sales revenues. In 2016, a private equity backed, UK based firm acquired a majority of that business. During this time, Grant worked closely with some of the world's largest mining companies on in excess of 90 different mine sites across Australia and maintains active business interests in the Australian mining industry today. Grant also enjoys numerous other roles as board director, advisory board member and/or investor in businesses across Australia, Singapore and Indonesia.

Vince Sorace, Director

Mr. Sorace is a mineral exploration and mining entrepreneur with over 25 years of international business and capital markets experience. Mr. Sorace has financed and led several resource companies with assets in the U.S., Canada and Europe, and has raised over $200M in equity and debt financings for public and private entities. Mr. Sorace is currently President, CEO and Director of Kutcho Copper Corp. He has been the founder, served as a Director and held CEO positions for numerous companies with extensive experience in development, management and public company governance in the resource and alternative energy sectors. Mr. Sorace is also an officer and director of Gold Bull Resources.

Steven Butler, Director

Steven Butler brings to the company his capital markets insights, experience and relationships gained over a 25 years career predominantly in precious metals research. He held senior positions at four investment banks including BMO Capital Markets, Canaccord Genuity, TD Securities and GMP Securities. His knowledge and experience will greatly benefit the Company as it plans ongoing exploration activities, communicates those activities to the market and works to build its industry presence. Steve previously served as a director of Atacama Pacific Gold Corp. in 2015-2016 (acquired by Rio2 Ltd. in 2018). He currently holds the position of Business Development Advisor at Certarus Ltd. Steve holds an MBA from Dalhousie University (1991) and HBSc in Geology from Queen's University (1988).

Officers of the Company

Gavin Cooper, CPA, CA, Chief Financial Officer

Mr. Cooper is a Chartered Professional Accountant with extensive experience in all aspects of corporate and financial management. For the past 35 years, Mr. Cooper has been providing strategic and financial advice and corporate administration services and has held senior positions with a number of public and private companies with local and international operations. He is currently CFO of Gold Bull Resources Corp., and acts as CFO, corporate secretary and director of various other listed companies. He has a Hons. Bachelor of Accounting from the University of South Africa and is a member of the Chartered Professional Accountants of British Columbia.

Rory Quinn, President, Chief Executive Officer and Director

Victoria, Australia-Based Technical Team

Dennis Arne, PhD, PGeo (BC), MAIG (RPGeo), MAAG (Fellow), Exploration Director

Mr. Arne has over 35 years of experience as a geologist specializing in geochemistry in a wide range of environments. This includes work in both the minerals and the petroleum industries, as an academic, and in geological surveys. In recent years he has been involved as a principal consultant in the development of geochemical exploration programs for global precious and base metals projects. Specifically, this has included contributing to exploration targeting reviews and understanding gold and base metal mineral systems, the design, management and interpretation of surficial geochemical surveys, the interpretation of lithogeochemical data with a focus on alteration vectoring, the preparation of QA/QC protocols with a particular emphasis on sampling coarse gold deposits, reviews of geochemical data quality, and contributions to NI43-101 and JORC/Valmin technical reports. He has published extensively in the areas of applied geochemistry, economic geology, alteration mineralogy and thermal history analysis for tectonic and petroleum exploration applications. This includes a substantial amount of work in the central Victorian goldfields of Australia. Dennis has contributed to or managed exploration programs for several companies that have undertaken gold exploration in Victoria.

Peter Devries, BAppSc (Geology), Grad Dip. (Mining), MSc (Mineral Economics), MAusIMM. MAIG, Exploration Manager

Peter is a Geologist and also holds a Graduate Diploma in Mining Engineering and has been involved in the mineral resources industry for more than 30 years predominantly within Australia, but with minor exposure in both Africa and Russia in gold and base metals. He has extensive hands-on Senior Management experience in Exploration, Mining and Project Management roles (both surface and underground) as well as exposure to both narrow-vein and bulk mining operations. For the past 15 years he has focused on exploration and development projects in Victoria and has over the last 4 years gained an intimate knowledge in the geology and operations of both the A1 and Morning Star mines and associated prospectivity of the Woods Point Walhalla goldfields. He is a Member of both the Australasian Institute of Mining & Metallurgy and the Australian Institute of Geoscientists.

About E79 Resources Corp.

E79 Resources is focused on exploring for Fosterville-type mineralization at its Beaufort and Myrtleford properties in the Victorian Goldfields, Australia. At Beaufort, an opportunity exists to explore for a hard rock source of a major alluvial goldfield along a structure that is known to host gold in the region. The Myrtleford property represents the consolidation of an entire historic gold camp with over 70 past producing gold mines on the property, where the vast majority of past exploration stopped at the water table. The Company continues to evaluate corporate development opportunities in the underexplored and prolific Victorian Goldfields.

Cautionary Note Regarding Forward-Looking Statements

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain statements that may be deemed "forward-looking statements" with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "indicates", "opportunity", "possible" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although E79 believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company's ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop its projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of gold, copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE E79 Resources Corp.

Rory Quinn, President, Chief Executive Officer and Director, E79 Resources Corp., Email: [email protected], Website: www.E79resources.com