Gold Mountain Mining Corp. (TSX.V: GMTN) is a BC based exploration and development company focused on developing their 100% owned Elk Gold Project, a past producing gold mine located 57 Km from Merritt, BC. The project is 2km off Highway 97C, and is accessible via an all seasoned gravel road.

The company recently completed a successful listing on the TSX Venture Exchange (TSX.V) under the symbol: GMTN. Gold Mountain raised $4.6M @ $0.90 issuing 5.18M shares. After closing the transaction and capital raise, the current share structure is: 61.5% Gold Mountain, 19.9% Freeform, and 18.6% new shareholders.  

The project spreads over 16,000 hectares with a number of drill targets defined, and a current NI 43-101 mineral resource of:

• Measure and Indicated 454,000 AuEq ounces at 5.33 g/t AuEq, and
• Inferred 95,000 AuEq Ounces at 6.57g/t AuEq

The Elk Gold Project has completed 127,069m of historic drilling ($30M worth), with extensive geochemical and geophysics programs conducted. The historical drill results have intercepted high-grade holes:

• 1177 g/t gold over 0.80m
• 220 g/t gold over 0.50m
• 55.4 g/t gold over 0.55m
• 216 g/t gold over 0.87m
• 236 g/t gold over 0.4m

The project shows tremendous exploration potential, as the current resource remains open in both directions along strike and down-dip, with 8 other established gold zones. Previous historical drilling indicates a potential further expansion to the current resource, and the company will conduct a multi-phase $3M 14,300m drill program. The initial $1.5M 7,300m phase 1 diamond drill program has commenced, and will be completed by mid-February.

The project is a mesothermal intrusive related gold vein system, with gold occurring in pyritic quartz veins. The mineralized veins strike east-west and occur along the discontinuity between the Nicola volcanic group and the Osprey Lake Batholith.

Gold Mountain (TSX.V: GMTN) plans to start gold production by Q4 2021, starting with a planned Phase 1 production of – 19,000oz/year, which will self-fund them to the proposed 50,000oz/year by 2025.

The Elk Gold Project is one of BC’s most exciting assets, within the region they’re several former operating mines: Equity Silver Mine (Goldcorp acquired by Newmont (TSX: NGT)), Huckleberry Mine (Imperial Metals (TSX: III)), Copper Mountain, Nicola, Highland Valley Copper, New Afton, and Brenda. Also within the province is The Blackwater Gold Project (Artemis Gold (TSX: ARTG)).

Artemis Gold (TSX: ARTG) acquired The Blackwater Gold Project in August 2020 for $190M, and raised $175M in-conjunction with the transaction. The company announced a Pre-feasibility study on Blackwater, and pegged a post-tax Net Present Value of $2.2B with a 5% discount, and an Initial Rate Return of 35% with a payback on initial capital costs of 2 years. The asset currently has gold reserves of 8Moz and silver reserves of 60Moz. For the first 5 years Blackwater will have an All In Sustainable Cost of ($/oz) US$508 per ounce. As of today, Artemis Gold (TSX: ARTG) has 122.5M shares outstanding, and is currently trading at $6.15, giving it a market cap of $760.62M (based off information on Artemis Gold website. https://www.artemisgoldinc.com/)

Gold Mountain’s (TSX.V: GMTN) Preliminary Economic Assessment was very robust, having a post-tax Net Present Value of $191M with a 5% discount. The All In Sustainable Cost ($/oz) is US$735 per oz and has a payback period of 6 months. The project has an extremely low OPEX and CAPEX, with a startup CAPEX of C$6.9M, and C$25M in expansion developments. As of today, Gold Mountain (TSX.V: GMTN) has 48.9M shares outstanding, and is currently trading at $0.93, giving it a market cap of $45.47M.

The company's chief executive officer, Kevin Smith, states: "The $4.7-million financing is closed, phase 1 of our diamond drill program is under way and management is focused on continuing to develop our vision of a high-grade, multipit production scenario at our Elk gold project. Over the next six months our goal is to finalize the details required to bring the Elk gold project into production, as well as look to continue onto phase 2 of our drill program. Our technical team continues to assess similar underappreciated, high-grade deposits here in British Columbia, and the greater Canadian region, that have large historic investments in resource development and require relatively low capex to get into production. The increase in gold price in 2020 has further highlighted the opportunity outlined in the Elk gold project PEA. Last year was about laying the foundation of our plan. This year will be about bringing it to life and delivering on our commitments to our long-term shareholders and supporters. In our view, this is B.C.'s next gold producer."

The company is management by a team of highly experienced mining executives:

KEVIN SMITH CEO Director

Entrepreneur with experience across a host of industries. Mr. Smith has extensive experience in organizing finance and construction of commercial and industrial development projects. Mr. Smith is currently the CEO/Director of Gold Mountain (GMTN) and Polarity Minerals.

BLAKE STEELE Independent Director CPA, CBV

Experienced metals and mining executive – President and CEO of Azarga Uranium Corp (AZZ.TO) and Director of Azarga Metals Corp. (AZR.v) Formerly Director of Finance of SouthGobi Resources (1878.HK) (Ivanhoe Mines Group).

RONALD WOO President P.Eng, MBA

COO for Rover Metals, Mining Engineer with over 20 years’ experience. Previously: Project Manager for Ledcor; Technical Services Manager for Western Coal Corp, Senior Mine Engineer for Hunter Dickinson.

KEITH MINTY Independent Director P.Eng, MBA

Mining Engineer with 30 years’ experience. Currently Senior Vice President-Business Development, Stope Capital Advisors. Formerly Director of Asanko Gold (AKG.NYSE) and Auryn Resources Inc. (AUG.TO). Northern Miner’s Mining Man of the Year recipient in 2000. Director of FenixOro Gold (FENX.CN)

TOOKIE ANGUS Advisor LLB

Chairman of K92 Mining Inc. (KNT.v). Formerly Chairman of Nevsun Resources Ltd. Chairman of San Marco Resources (SMN.v) and previous Managing Director of Endeavor Mining (EDV.TO). Over 40 years of experience structuring and financing mining ventures. Will provide guidance to management on finance, mergers and acquisitions.

DANIEL KUNZ Advisor MBA, AA, P.Eng.

Executive Chairman of Prime Mining Corp. (PRYM.v). Director of Silver Bull Resources (SVB.TO). Former President/COO of Ivanhoe Mines Ltd. (IVN.TO) Mr. Kunz is credited with discovering and expanding the Oyu Tolgoi Deposit.

With such a powerhouse team, and a clear path to production, Gold Mountain (TSX.V: GMTN), looks to be one of the most exciting development companies that has gone public in recent weeks.

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