Brightstar Resources (BTR:AU) has announced Merger Discussions Between Brightstar and Aurumin
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(TheNewswire)
Vancouver, BC TheNewswire June 30, 2025 – Element79 Gold Corp. (CSE: ELEM | FSE: 7YS0 | OTC: ELMGF) (‘Element79’ or the ‘Company’) announces its forward corporate guidance for the remainder of 2025, outlines recent strategic developments regarding its Lucero Project in Peru, and reaffirms its operational focus on its advanced-stage projects in Nevada, USA.
Force Majeure Declared on Lucero Project
The Company formally invoked the force majeure clause under its agreement with Condor Resources Inc. with respect to the Lucero Project due to a combination of social, regulatory, and political barriers which have effectively prevented the Company from lawfully executing planned exploration and development activities, despite holding full mineral rights.
A force majeure event refers to unforeseen circumstances beyond a party’s control—such as acts of government, social unrest, or natural disasters—that prevent contractual obligations from being fulfilled. In the case of Lucero, the following factors have contributed to the declaration:
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Evolving and inconsistent Peruvian federal policies on small-scale mining formalization, creating uncertainty in legal enforceability and timelines.
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Political instability and leadership vacuums , with current municipal governance in Chachas in transition and the outgoing mayor largely absent from the community.
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Legacy community mistrust and unmet promises from prior owners, complicating local engagement efforts.
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Ongoing unauthorized artisanal mining by community members operating outside legal frameworks and without formalized agreements.
Element79 has spent two and a half years of extensive, evolving efforts to foster community relationships and negotiate access agreements in good faith, and the Company believes in developing a win-win solution with the Chachas community for the restart of the past-producing Lucero mine, the tailings and development of a regional processing plant, and exploring the geological assets inside the Lucero concessions. The Company and its contracted financial consultants remain staunchly optimistic to fund future development at Lucero as agreements for surface rights agreements are reached. In the short-term, internal reports and formal feedback from its social engagement team (GAE Peru) and regional mining authorities (DREM Arequipa) suggest that no material progress toward surface rights agreements is likely for the remainder of 2025.
Path Toward Resolution and Reworking Terms with Condor Resources
Over the next 12 months, Element79 will:
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Continue monitoring regulatory developments, particularly the anticipated implementation of MAPE legislation , which may clarify formalization mechanisms between artisanal miners and mineral right holders.
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Maintain social outreach campaigns in Chachas through the Company’s social engagement team, GAE Peru, preparing the groundwork for ongoing engagement pre- and post-municipal elections in early 2026
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Continue ongoing dialogue with Condor Resources to explore restructuring the terms of the original Lucero agreement, with the goal of establishing a more reasonable, flexible and mutually beneficial framework as on-the-ground conditions allow for meaningful work to resume at Lucero.
Strategic Focus Shift to Nevada Projects
In line with this operational pivot, Element79 is reaffirming its near-term focus on its U.S.-based assets:
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The Company will retain and advance development at the Elephant Project in Nevada. A technical report to formally organize historical work under the 43-101 framework, upcoming work plan and exploration campaign are currently being finalized and will be publicly disclosed shortly.
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The acquisition of the Gold Mountain Project , a drill-ready asset also located in Nevada, is expected to close as soon as possible, pending administrative timelines surrounding Canada Day and U.S. Independence Day holidays. A comprehensive development plan will be issued thereafter.
As Element79 aligns its capital and human resources to near-term executable projects, the Company remains committed to:
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Unlocking shareholder value through strategic asset optimization.
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De-risking its project portfolio by prioritizing jurisdictions with clear permitting paths.
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Continuing stakeholder engagement to support long-term success at Lucero when conditions become viable.
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Changes to the board of directors and management to reflect the evolving business model
About Element79 Gold Corp.
Element79 Gold Corp. is a mining company focused on the exploration and development of high-grade gold and silver assets. Its principal asset is the past-producing Lucero Project in Arequipa, Peru, where it aims to resume operations through both conventional mining and tailings reprocessing. In the United States, the Company holds interests in multiple projects along Nevada’s Battle Mountain Trend. Additionally, Element79 Gold has completed the transfer of its Dale Property in Ontario to its wholly owned subsidiary, Synergy Metals Corp., and is progressing through the Plan of Arrangement spin-out process.
For further information, please visit: www.element79.gold
On Behalf of the Board of Directors
James C. Tworek
Chief Executive Officer, Director
Element79 Gold Corp.
jt@element79.gold
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words ‘anticipate,’ ‘plan,’ ‘continue,’ ‘expect,’ ‘estimate,’ ‘objective,’ ‘may,’ ‘will,’ ‘project,’ ‘should,’ ‘predict,’ ‘potential’ and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements concerning the Company’s exploration plans, development plans and the Force Majeure Event. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on these statements because the Company cannot provide assurance that they will prove correct. Forward-looking statements involve inherent risks and uncertainties, and actual results may differ materially from those anticipated. Factors that could cause actual results to differ include conditions in the duration of the Force Majeure Event, and receipt of regulatory and shareholder approvals. These forward-looking statements are made as of the date of this press release, and, except as required by law, the Company disclaims any intent or obligation to update publicly any forward-looking statements.
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2025 TheNewswire – All rights reserved.
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Apple Thursday made changes to its App Store European policies, saying it believes the new rules will help the company avoid a fine of 500 million euro ($585 million) from the EU for violating the Digital Markets Act.
The new policies are a complicated system of fees and programs for app makers, with some developers now paying three separate fees for one download. Apple also is going to introduce a new set of rules for all app developers in Europe, which includes a fee called the “core technology commission” of 5% on all digital purchases made outside the App Store.
The changes Apple announced are not a complete departure from the company’s previous policy that drew the European Commission’s attention in the first place.
Apple said it did not want to make the changes but was forced to by the European Commission’s regulations, which threatened fines of up to 50 million euros per day. Apple said it believed its plan is in compliance with the DMA and that it will avoid fines.
“The European Commission is requiring Apple to make a series of additional changes to the App Store,” an Apple spokesperson said in a statement. “We disagree with this outcome and plan to appeal.”
A spokesperson for the European Commission did not say that Apple was no longer subject to the fine. He said in a statement that the EC is looking at Apple’s new terms to see if the company is in compliance.
“As part of this assessment the Commission considers it particularly important to obtain the views of market operators and interested third parties before deciding on next steps,” the spokesperson said in a statement.
The saga in Brussels is the latest example of Apple fiercely defending its App Store policies, a key source of profit for the iPhone maker through fees of between 15% and 30% on downloads through its App Store.
It also shows that Apple is continuing to claim it is owed a commission when iPhone apps link to websites for digital purchases overseas despite a recent court ruling that barred the practice in the U.S.
Under the Digital Markets Act, Apple was required to allow app developers more choices for how they distribute and promote their apps. In particular, developers are no longer prohibited from telling their users about cheaper alternatives to Apple’s App Store, a practice called “steering” by regulators.
In early 2024, Apple announced its changes, including a 50 cent fee on off-platform app downloads.
Critics, including Sweden’s Spotify, pushed back on Apple’s proposed changes, saying that the tech firm chose an approach that violated the spirit of the rules, and that its fees and commissions challenge the viability of the alternative billing system. The European Commission investigated for a year, and it said on Thursday that it would again seek feedback from Apple’s critics.
“From the beginning, Apple has been clear that they didn’t like the idea of abiding by the DMA,” Spotify said last year.
Epic Games CEO Tim Sweeney, whose company successfully changed Apple’s steering rules in the U.S. earlier this year, accused Apple of “malicious compliance” in its approach to the DMA.
“Apple’s new Digital Markets Act malicious compliance scheme is blatantly unlawful in both Europe and the United States and makes a mockery of fair competition in digital markets,” Sweeney posted on social media on Thursday. “Apps with competing payments are not only taxed but commercially crippled in the App Store.”
The European Commission announced the 500 million euro fine in April. The commission at the time said that the tech company might still be able to make changes to avoid the fine.
Apple’s restrictions on steering in the United States were tossed earlier this year, following a court order in the long-running Epic Games case. A judge in California found that Apple had purposely misled the court about its steering concessions in the United States and instructed it to immediately stop asking charging a fee or commission on for external downloads.
The order is currently in effect in the United States as it is being appealed and has already shifted the economics of app development. As a result, companies like Amazon and Spotify in the U.S. can direct customers to their own websites and avoid Apple’s 15% to 30% commission.
In the U.S., Amazon’s iPhone Kindle app now shows an orange “Get Book” button that links to Amazon.com.
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