VANCOUVER, BC, April 18, 2024 /CNW/ - Elevation Gold Mining Corporation (TSXV:ELVT) (OTCQB:EVGDF) (the "Company" or "Elevation Gold") is pleased to announce financial results for three months and year ended December 31, 2023.  All figures are expressed in US dollars unless otherwise noted. Summary for the Three Months and Year Ended December 31, 2023 Elevation produced 7,989 ounces of gold and 60,706 ounces of silver for the three months ended December 31, 2023, and 31,047 ounces of gold and 202,060 ounces of silver for the year ended December 31, 2023. The Company generated total revenue of $66.4 million during the year, an increase of 7% compared to 2022, on 31,063 ounces of gold and 281,467 ounces of silver sold. The average realized price of gold per ounce sold for the three months ended December 31, 2023 was $1,916. Income from mine operations before depreciation and depletion of $12.5 million for the 2023 year. For the three months ended December 31, 2023, total cash costs per ounce of gold sold (1) were $1,424 and all-in sustaining costs ("AISC") per ounce of gold sold (1) were $2,126. Tim Swendseid, Elevation Gold CEO, stated: During the fourth quarter our production and financial results were impacted by challenges in and around the crushing plant.  Our income from mine operations before depreciation and depletion was $3.8 million for the quarter and $12.5 million for the year, both reflecting a steady improvement compared to results for the same periods last year. Cash costs per ounce sold was $1,424, which is similar to Q4 2022, and $1,524 for the year, reflecting an $186/oz improvement over the 2022 year. We completed and put into operation the 3A-Ph2 leach pad and completed and reported the results of additional reverse circulation holes in Reynolds Pit and the Mordor area. (See News Release dated February 27, 2024.)  We are currently benefiting from strong gold prices but continue to preserve our liquidity by temporarily suspending royalty payments and silver stream deliveries as we announced on April 4, 2024.  As we also announced on April 4, 2024, first quarter 2024 production was disappointing, but based on current mining operations, we expect an improvement in production during the second quarter of this year. Consolidated Financial Results Summary The following table provides a summary of the components of the Company's results for the three months and years ended December 31, 2023 and 2022.  For further details, refer to the Company's Consolidated Financial Statements and Management Discussion and Analysis ("MD&A") for the year ended December 31, 2023.  (in thousands of dollars) Q4 2023 Q4 2022 YTD 2023 YTD 2022 Revenue $ 16,337 $ 17,108 $ 66,356 $ 62,008 Production costs (11,637) (13,467) (50,429) (56,396) Royalties (881) (952) (3,419) (3,196) Mine operating income before depreciation and depletion 3,819 2,689 12,508 2,416 Depreciation and depletion (3,234) (4,463) (13,568) (10,310) Income (loss) from mine operations 585 (1,774) (1,060) (7,894) Corporate administrative expenses (776) (712) (3,064) (3,429) Finance costs (2,068) (1,585) (8,449) (6,646) Gain on modification of debt 549 - 549 - Gain (loss) on revaluation of derivative liabilities (637) (5,167) 793 8,097 Impairment of plant and equipment andmineral properties (1) (11,163) - (11,163) (33,850) Other (94) (52) (150) 114