Ottawa, Ontario–(Newsfile Corp. – August 17, 2022) – Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (the “Company”) is pleased to announce that it has monetized its remaining 20% interest in the Taviche Project in Mexico. Additionally, despite strong support from insiders and existing shareholders for the financing announced July 28, 2022, the Company has determined that it will not proceed with the private placement. As well certain members of management have agreed to loan the Company up to CDN$230,000.