79 Resources Ltd. Announces Strategy Plans for 2025, Proposes Name Change to Rottenstone Gold Inc.

Vancouver, British Columbia, December 12, 2024 – 79 Resources Ltd. - CSE:SNR - (“79 Resources” or the "Corporation" or the “Issuer”) is pleased to report upon its strategy plans for the year ahead (the “2025 Strategy”) and detail certain proposed corporate changes.

“Having recently become the CEO of 79 Resources, I am truly excited by the exploration opportunity that I feel Saskatchewan’s Rottenstone region may hold for us as we enter 2025. In addition, a proposed corporate brand alignment oriented around our district-scale Rottenstone Project furthers our work to build an exploration junior that benefits our long-term shareholders and the communities we operate in,” said Jordan Harris, CEO of 79 Resources.

Rottenstone Project Update

As referenced in prior public filings, the Corporation acquired a portfolio of one-hundred and forty (140) individual mining claims encompassing 282,951 ha (approx. 698,889 acres) located in northern Saskatchewan which now forms the foundation of the Issuer’s district-scale Rottenstone Project (see news release, 79 Resources Ltd. Closes Previously Announced Rottenstone Transaction, dated September 27, 2024).

Further highlighted by today’s news release, the Corporation has defined and escalated internal priority on the Rottenstone Project with growing cognition of third-party results in the area (see Ramp Metals Inc. news release, Ramp Metals Announces New High-Grade Gold Discovery of 73.55 g/t Au over 7.5m at its Rottenstone SW Project, dated June 17, 2024 and Ramp Metals Inc. news release, Ramp Metals Discovers New Mineralized Target Northwest of Ranger Gold Discovery, dated December 2, 2024).

Save a pre-existing two percent royalty and certain Crown obligations (such as assessment work requirements), the Corporation holds the Rottenstone Project as a full interest, meaning that it has no cash or share earn-in payments owed to any third-parties which, in turn, provides the Corporation with a clear-line of sight to being in a position to allocate forward-raised capital for the project to advancing the asset as opposed to having to less beneficially allocate such potential forward funding to instead completing a high-cost, staged earn-in ownership process commonly required to gain access to a portfolio of mining claims having characteristics like those forming the Rottenstone Project. As a result, the Corporation believes that its shareholders stand to prospectively benefit, at a material level, from its underlying ownership of a large portfolio of mining claims in the Rottenstone region and the Issuer’s forward plans to enhance the value and visibility of those mining claims as earliest circumstances permit. The Corporation believes its fully structured ownership approach to the Rottenstone Project, alongside its compelling capital structure of only 26,236,400 common shares now issued and outstanding, provides significant flexibility to capture potential opportunities within the Issuer-owned Rottenstone Project area, either independently or in conjunction with parties who may wish to transact with the Corporation in regard to any potential sub-areas of the Rottenstone Project. 

The Corporation sees itself as having cost-effectively positioned shareholders with strong upside potential of a material-scale asset that simultaneously holds an early-mover position in being one of the largest mining claim portfolios in the Rottenstone region. Elevated levels of Rottenstone area activity and/or future positive exploration results from any third-party companies drilling in the area may prove to accelerate the Corporation’s plans (or vice versa).

With a view to its exploration priorities, which remain subject to successfully raising additional capital, the Corporation has already begun to compile geological data associated with Rottenstone Project, and the broader region, with an objective being to determine inaugural exploration opportunities within the project area and to evaluate, at the corporate level, requisite funding mechanisms and required expertise for next-step exploration. The location of the project optimizes field-level work outside winter months providing the Corporation with an ideal window of time to advance its interpretative work during the first quarter of 2025.

In addition, the Corporation has also commenced certain preliminary request for proposal (RFP) efforts regarding potential service companies for the Rottenstone Project that may have availability in Saskatchewan in the year ahead (subject to sourcing related funding). 

Given the Corporation’s view of the opportunity provided by its Rottenstone Project (including by way of its scale compared to its next discussed project), the Issuer currently anticipates that the Rottenstone Project will continue to garner increasing amounts of its corporate and managerial attention.

Of final note of importance, the Corporation through its leadership/governance team has long-standing experience with Saskatchewan, which ranks as Canada’s top mining jurisdiction (and the 3^rd best jurisdiction globally) (see Fraser Institute news release, Saskatchewan 3rd most attractive jurisdiction worldwide for mining investment, dated May 14, 2024). Recent October 2024 electoral stability in the province is viewed favourably by the Corporation as it believes any continued policy positions of a re-elected government may help extend the aforementioned strong jurisdictional reviews and ratings into future periods, which may in turn positively assist the Corporation attract capital during 2025.

Figure One: Map of the Rottenstone Project (Core Area)

As previously reported, the Rottenstone Project was acquired from Calgary-based Kalt Industries Ltd. (the “Vendor”), a related party, including terms that involved a monetary amount equivalent to the license fees first originally paid to the Government of Saskatchewan by the Vendor (see news release, 79 Resources Ltd. Announces New Chief Executive Officer, Adds to Exploration Portfolio with Rottenstone Project, dated September 12, 2024).

The Corporation cautions that past results or discoveries on nearby or regional projects (e.g. the Ramp Metals Inc. Rottenstone SW Project) may not necessarily be indicative as to the presence or style of mineralization on the Corporation’s project (e.g. the Rottenstone Project).

Five Point Project Update

As referenced in prior public filing, during October 2024, the Corporation was successful in enhancing particular mining claim project area associated with its Five Point Project (“Five Point”) through a re-staking initiative.

The Corporation confirms that an internally prioritized target at Five Point involves an anomaly identified by the Corporation in its previous Issuer-funded geophysical exploration work completed at Five Point, and as elsewhere detailed in its public reporting. The Company is interested in further examining the target as funding permits, such related efforts of which are planned to continue into 2025.

The Corporation duly cautions that past results or discoveries on adjacent or proximate projects may not necessarily be indicative as to the presence of or mineralization at Five Point.

Adoption of New Corporate Name and Trading Symbol

As part of its 2025 Strategy plans, the Corporation reports that it intends to change its corporate name from “79 Resources Ltd.” (which has been its original name since listing on the Canadian Securities Exchange) to “Rottenstone Gold Inc.” (the “Name Change”). The Name Change would be effectuated after its annual general meeting, which is scheduled for December 20, 2024 in Vancouver, British Columbia (for recent matters related to the forthcoming annual meeting, see news release, 79 Resources Ltd. Provides Meeting Update to Shareholders Regarding Postal Strike, dated December 5, 2024).

The successful closing by the Corporation of the Rottenstone Project has significantly expanded the Corporation’s view of its gold-related opportunity set, enhancing its other standing gold-related project (Five Point in British Columbia), and the Name Change positions the Corporation for increased investor interest pertaining to its view of the materiality of its forward-looking opportunity (see news release, 79 Resources Ltd. Closes Previously Announced Rottenstone Transaction, dated September 27, 2024) and serves to recognize the Issuer’s continued exposure to gold as a commodity of exploration priority.

In addition to the Name Change, the Corporation intends to change its trading symbol from “SNR” to “SK” (the “Symbol Change”), with the Symbol Change proposed to be adopted in conjunction with the Name Change. A new CUSIP and ISIN number would be assigned to the Corporation, with particulars to follow in the ordinary course.

About 79 Resources Ltd.

79 Resources is a Vancouver-based junior mining exploration company. Traded on the Canadian Securities Exchange under the symbol SNR, the Corporation seeks to acquire, explore and develop mineral exploration projects. For additional information, please visit www.79resources.com.

The Corporation is subject to various risks and uncertainties, including those risks and uncertainties set out in public filings made by the Issuer, such public filings and other important disclosures available through SEDAR+ (www.sedarplus.ca) and the Corporation’s Disclosure Hall on the CSE (https://thecse.com/listings/79-resources-ltd/#disclosure).

Qualified Person

Jason Arnold, P.Geo., President of DCX Geological Consulting and an independent Qualified Person as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the geological information reported in this news release. The mineralization hosted on adjacent and/or nearby properties, particularly with respect to neighbouring mineral resources, is not necessarily indicative of mineralization hosted on the Corporation’s property.

On Behalf of the Board of Directors

Jordan Harris
Chief Executive Officer
Email: info@79resources.com
Tel: 604.687.2038

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Canadian securities laws. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words "anticipate," "expect," "suggest," "plan," "believe," "intend,", “intention” "estimate," "target," "project," "should," "could," "would," "may," "will," "forecast" and other similar expressions are intended to identify forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties, including but not limited to any future plans to advance the Rottenstone Project (or Five Point Project), and the terms, if any, of potential future funding available to the Issuer for any such plans, and the results of any exploration at the Rottenstone Project (or Five Point Project) by the Corporation, as well as uncertainties associated with completion of the Name Change and/or completion of the Symbol Change and/or changes to the 2025 Strategy. Actual results may differ materially from those currently expected or forecast in such statements.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE Exchange) accepts responsibility for the adequacy or accuracy of this release.