Elevation Gold Reports Claim by Royalty Holder

VANCOUVER, BC, April 12, 2024 /CNW/ - On April 4, 2024, Elevation Gold Mining Corporation (TSXV:ELVT.VN) (OTC-BB:EVGDF) (the "Company" or "Elevation Gold") announced that as a result of lower-than-expected production, the Company temporarily suspended its royalty/finder fee payments and silver stream delivery obligations to preserve sufficient liquidity for the continued operation of the Moss Mine, and that certain royalty holders had not consented to such suspension. The Company now further advises that Patriot Gold Corp. ("Patriot"), which holds a 3% net smelter returns royalty (the "NSR Royalty") on the Moss Mine, has filed a claim (the "Claim") in the Arizona State Superior Court (the "Court") for payment of amounts owning pursuant to the NSR Royalty. The Company continues to engage with Patriot in an effort to resolve the Claim without litigation.