Developing Royalty Assets
in North America

Ely Gold Submits Environmental Assessment for Green Springs Project

July 1, 2014

Ely Gold & Minerals Inc. ("Ely Gold" or the "Company") is pleased to provide the following update on its 100% owned Green Springs property located in White Pine County, Nevada. A draft Environmental Assessment (EA) was submitted to the U.S. Forest Service on June 26, 2014. An exploration Plan of Operations (POO), covering 75 acres was submitted to the U.S. Forest Service in October, 2013. The proposed project area covers several drill targets identified from historic drill assays, soil samples and the CSMAT geophysical survey. Enviroscientists, Inc is coordinating the permitting and environmental requirements for the project. A map of the proposed project area is available on the Ely Gold website at www.elygoldandminerals.com.

Green Springs lies approximately 10 miles south of Ely Gold's Mt. Hamilton project and 14 miles southeast of Midway Gold's ("Midway") Pan Deposit, 7 miles southeast of Midway's Gold Rock project and 10 miles northwest of Pilot Gold's Griffon project. The Mt Hamilton Project is being managed by Solitario Exploration & Royalty Corp. under a joint venture agreement with Ely Gold whereby Solitario owns 80% and Ely Gold owns 20%. Green Springs is owned 100% by Ely Gold and is not part of the joint venture with Solitario. Mt. Hamilton and Goldrock are currently in the permitting process for mine development, while Pan has been fully permitted and is currently being constructed by Midway.

The Company, in conjunction with SRK Consulting, has compiled all the historical data including previous work by U.S. Minerals Exploration Company ("USMX") during the 1980's. The USMX work outlined six zones of gold mineralization from approximately 680 reverse circulation drill holes. Using a cut off grade of 0.7g/t Au, USMX developed and produced from three of these mineralized zones. Historic production records, from 1988-1990, indicates that 1.1 million metric tons of mineralized material averaging 2.1 g/t gold were mined by open pit mining and heap leaching. USMX abruptly ceased production when they purchased Alligator Ridge in 1990 and three mineralized zones remained un-mined. The historic open pit mines exploited oxide gold mineralization developed in the upper Chainman and along the Joanna-Chainman contact which are important host units in the region (i.e., Midway's Goldrock deposit and Pilot Gold's Griffon project). Several northern historic exploration holes, drilled by USMX, revealed mineralization associated with the underlying Pilot Shale, which is another important host unit in the region (i.e., Midway Gold's Pan deposit and Alligator Ridge). The Pilot Shale remains largely untested across the property, and lies at relatively shallow levels within the eastern portion of the Project. The Company has identified drill targets designed to twin USMX holes and test the deeper Pilot Shale, based on extensive ground sampling, mapping and the CSMAT geophysical survey. Drilling is anticipated in fall of 2014.

"Green Springs lies in a very active and exciting area for mine development in Nevada", stated Trey Wasser, Ely Gold's President & CEO. "Investing in the EA will allow us the flexibility to explore the entire district without needing to secure additional permits".

This press release has been read and approved by Stephen Kenwood, P. Geo, a director of the Company and is a Qualified Person as defined by National Instrument 43-101.

On Behalf of the Board of Directors

Signed "Trey Wasser"

Trey Wasser, President & CEO

For further information, please contact Ely Gold & Minerals Inc. at 604-488-1104.

E-mail: [email protected]; Website: www.elygoldandminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.