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Gold Mountain provides a corporate upgrade

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Gold Mountain Mining Corp. (“Golden Mountain” or “Company”) (TSXV: GMTN) (OTCQB: GMTNF) (FSE: 5XFA) is pleased to announce that it has received conditional approval from the Toronto Stock Exchange (“TSX”) to place its common stock. Provided that the outstanding listing conditions are met and the common shares are listed on TSX, the Company will voluntarily remove its common shares from the TSX venture exchange. Gold Mountain will continue trading under the ticker “GMTN”. The company also submitted a preliminary base prospectus (“Shelf Prospectus”) to the Securities and Exchange Commission in each province of Canada

“As we move to commercial production and continue to expand Elk’s resources, it’s time for our company to increase its list on the Toronto Stock Exchange,” commented Kevin Smith, CEO and CEO of Gold Mountain. “The transition to TSX listing will be a significant milestone for Gold Mountain and should report that the focus of management is corporate development on all fronts, with the goal of becoming a prominent name in the Canadian mining industry. By posting letters to TSX, we seek to further enhance the company’s impact and accessibility to institutional investors, as well as increase the liquidity of our market. We also provided a preliminary prospectus of the base shelf in each province of Canada. Although the company has no immediate need for additional funds, we would like to put ourselves in a position to be ready for a deal within the next 25 months if we decide to speed up our reconnaissance plans at Elk or have the right opportunity. for mergers and acquisitions. With a healthy Treasury, an M199 mining permit and our Phase II exploration program nearing completion, the company is able to strongly complete our first year of trade and looks forward to shifting that momentum to 2022. ”

Conditional TSX approval

Gold Mountain received conditional approval on the TSX list on November 4thth2021after trading on the TSX Venture Exchange (“TSXV”) for 10 months. During this period, the company moved from a junior mining and exploration company to a gold producer soon with strong and well-established partnerships in south-central British Columbia. The company’s good economy, extensive shareholder base and inevitable profits forced management to begin the listing process on TSX.

The final approval of Gold Mountain’s listing on TSX is subject to the company’s compliance with certain customary conditions. Gold Mountain will officially announce if its simple stock trading is expected to begin on TSX. Upon completion of the final listing requirements, the company’s common stock will be excluded from TSXV.

Shareholders are not required to share their stock certificates or take any other action in connection with the TSX listing. The TSX listing is one of the requirements for inclusion in certain indices, including the composite S&P / TSX index and related exchange products (ETFs). There can be no assurance that a company will qualify or be eligible to be included in such indexes and ETFs.

Corporate governance

As part of the listing process at TSX, the company’s board of directors has appointed Kevin Smith as chairman and Blake Steele as independent lead directors. Appointments were made at the request of TSX to provide further structure to the company’s board.

Previous avenue shelf

Prospect Shelf, upon receipt of the final Base Shelf Prospectus, will allow Gold Mountain to make offers of up to C $ 50,000,000 of common stock, warrants, subscription receipts, shares, debt securities, stock purchase agreements or any combination thereof over time for 25 months . The specific terms of any future placement of securities (if any) will be set out in the appendix to the prospectus. Gold Mountain has submitted this base prospect shelf for future financial flexibility and has no immediate intention of making an offer. According to its quarterly financial statements ending July 31, 2021, Gold Mountain’s cash position was $ 14,931,106.

This news release should not constitute an offer to sell or request to purchase any securities, nor may it be a sale of securities in any jurisdiction in which the offer, request or sale would be illegal prior to registration or qualification under the law. on securities of any such jurisdiction.

A copy of the previous shelf prospectus, as well as copies of the final base shelf prospectus and any additions to the prospectus shelf that may be submitted in the future, can be found in the SEDAR company profile at www.sedar.com.

Form of annual information

Gold Mountain has also voluntarily provided an annual information form (“AIF”) to support base shelf prospectus and TSX listings. The AIF provides a detailed overview of the company and is available at www.sedar.com.

Modified and revised technical report

The company also provides an amended and revised technical report for its Elk Gold project entitled “National Instrument Technical Report 43-101“ Updated Preliminary Economic Assessment of the Elk Gold Project, Merritt British Columbia ”(“ Supplemented Report ”). The modified report can be found in the company profile at www.sedar.com. and was further submitted to the Securities and Exchange Commission of British Columbia (“BCSC”). The BCSC review is complete.

There are no significant differences between the initial report submitted on 22 June 2021 and the amended report, as well as with regard to mineral resources, the preliminary economic assessment of the recommendations and the conclusions presented in the initial report. The report, effective May 14, 2021, August 26, 2021, as amended November 4, 2021, is available in the Gold Mountain profile on SEDAR at www.sedar.com and on the company’s website at www.gold-mountain.ca.

About Gold Mountain mining

Gold Mountain is a gold and silver exploration and development company in British Columbia focused on expanding resources in the Elk Gold Project, a past mining mine located 57 km from Merritt in south-central British Columbia. More information is available at www.sedar.com or on the company’s new website at www.gold-mountain.ca

For more information, please contact:

Gold Mountain Mining Corp.
Kevin Smith, CEO and CEO
Phone: 604-309-6340
Email: ks@gold-mountain.ca
Website: www.gold-mountain.ca

Neither the TSX Venture Exchange nor its regulatory service provider (as this term is defined in the TSX Venture Exchange Policy) has reviewed or assumes responsibility for the adequacy or accuracy of this issue.

This news release includes certain “forward-looking statements” under current Canadian securities laws. Perspective statements include statements that are based on assumptions at the date of this news release and are not purely historical, including any information or statements regarding beliefs, plans, expectations or intentions regarding the future and often, but not always, use words or phrases. as “waiting” or “not waiting”, “expected”, “anticipated” or “not waiting”, “planning”, “evaluating” or “intending”, or that certain actions, events or outcomes may be “could”, “would”, “could” or “would” be taken, happen or be achieved. Promising statements in this press release include all statements regarding the inevitable generation of cash flows, achievement of commercial production, expected production profile of the 1st year and expected profit, time of receipt of any EA, transition to commercial production, time to start mining, delivery time of mineralized material to New Afton. Perspective statements are necessarily based on a number of estimates and assumptions that, although considered reasonable, are subject to known and unknown risks, uncertainties and other factors that may cause actual results and future events to differ materially from those expressed or available. mind. such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainty; delay or failure to obtain permits from the board, shareholders or regulators; the value of gold; and the results of current explorations. There can be no assurance that such statements will be accurate, as actual results and future events may differ materially from those expected in such statements. Accordingly, readers should not overly rely on forward-looking statements. Gold Mountain disclaims any intention or obligation to update or revise any forward-looking statements, as a result of new information, future events or otherwise, except as required by law. For a complete overview of all risks that may affect the Company, see the annual information form of the company, a copy of which is available at www.sedar.com.

SOURCE:Gold Mountain mining Corp.

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