Gold79 Mines Ltd. announced a private placement of 28,571,428 units at a price of CAD 0.035 per unit for gross proceeds of CAD 1,000,000 on November 7, 2022. Each unit consists of one common share and one whole common share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at a price of CAD 0.05 per share for a period of 36 months following the date of issuance.

Additionally, the warrants will be callable during the 36 month period, at the option of the company, in the event that the 20-day volume-weighted average price of the company's common shares meets or exceeds CAD 0.08 for ten consecutive trading days based on trades on the TSX Venture Exchange and Alternative Trading Systems. Any securities issued under the offering would be subject to a statutory hold period of four months and one day from the date of issuance. This Offering is subject to approval of the TSX Venture Exchange. The anticipated closing date of the first tranche of the offering is November 14, 2022.

Certain officers and directors of the Company will participate in the offering.