Star Metro - Gold Mountain Provides Update On Elk Mine Project

Elk Mine Update

Low production results realized during the Q3 and Q4 reporting periods were directly attributable to the planned winter work program, which substantially reduced operations throughout the quarter. As a result, production from the Elk Gold Mine was at a reduced activity level.

The Company has commenced an internal review of its National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") compliant independent Technical Report for the Elk Mine titled "National Instrument 43-101 Technical Report and Resource Update on the Elk Gold Project, Merritt, British Columbia, Canada" prepared by L. John Peters, P.Geo, Gregory Z. Mosher, P.Geo, and Marinus Andre De Ruijter, P. Eng, each an independent "Qualified Person" as defined in NI 43-101, with an effective date of December 7, 2021, and a report date of January 21, 2022 (the "Technical Report"). Accordingly, readers are cautioned to not place undue reliance on the Technical Report or the resource estimate included therein until the Company has completed and reported on those activities.

Initial quality checks on historical works and findings including random sample re-logging of historical drill core; and evaluating existing drill core data has determined the need for a complete relogging of all core data. The Company anticipates completing the relogging by September 2025 and will provide an update in due course.

Gold Mountain also anticipates receiving the results of exploration drilling which has commenced on the "Bullion Zone", an area located immediately north of the Siwash Pit. Preliminary observations support additional exploitation and expansion of the existing operational plan for that location.

In light of recent findings Elk Gold Mine will reduce production operations substantially until such time as the relogging work is complete together with a new Mine Plan, MRE and 43-101.

About Gold Mountain

Gold Mountain is a British Columbia based gold and silver production, exploration and development company focused on the development of the Elk Gold Mine, a producing mine located 57 kilometers from Merritt in South Central British Columbia. Additional information is available at www.sedar.com or on the Company's new website at www.goldmountainminingcorp.com.

For more information, please contact:

Gold Mountain Mining Corp.
Email: [email protected]
Website: www.goldmountainminingcorp.com

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

Forward Looking Statements

Forward-looking statements in this news release may include, but are not limited to, statements relating to those in respect of the Company's future financial reporting. 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 the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. The forward-looking statements contained in this news release are made as of the date hereof, and except as may be required by applicable securities laws, the Company assumes no obligation or intent to update publicly or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.

SOURCE: Gold Mountain Mining Corp

View the original press release on ACCESS Newswire

A.Bergeron--SMC