Gold Mountain Announces Additional Phase 1 Assay Results

These assay results extend known high-grade mineralization of the 2600 and 2700 vein systems and showcase near-surface gold grades consistent with the Company’s successful deep drilling results announced on April 14th, 2021.

The primary goal of the final drill holes was to in-fill data gaps in the 2600 and 2700 vein system and to further enhance JDS’ underground geotechnical model.

Kevin Smith continues, “Gold Mountain finds itself in a unique position where we’re able to deliver shareholder value not only through our exploration efforts but also through the coming transition into development and production.

The latest assay results from three of the final five Phase 1 drill holes, further extends the 2600 and 2700 vein systems towards the northeast.

The final five holes targeting the 2600 and 2700 veins were positioned to in-fill data gaps in the vein systems and maintain a 75m distance between drill holes with the goal of methodically expanding the resource at the Siwash North Zone.

The Company found initial success, discovering a new vein intercept recognized in historic hole SND11-132, yielding 1.2m averaging 52.3 g/t Au Recently, the Company uncovered an additional new vein intercept recognized in historical hole SND11-128, yielding 0.2m averaging 47.8 g/t Au.

Gold Mountain adheres to a strict QA/QC monitoring program that includes the insertion of blanks, standards and duplicates into the sample stream, as well as the re-submission of select samples for check assays by an independent third party laboratory.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements.

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