Gold Mountain Mining Updates Mineral Resource Estimate at the Elk Gold Property

is pleased to announce an updated National Instrument 43-101 Mineral Resource Estimate following the conclusion of its Phase1 drill program at the Elk Gold Project.

Several factors have contributed to the change in this resource estimate from previous estimates.

A review of all data inputs to the drilling database, both historical and recent, has allowed a sufficient level of confidence to include the drill database in the Resource Estimate.

The data from the 41 Phase 1 drill holes were added to the 2019 drill data for an aggregate total of 973 holes that intersected the 33 modelled mineralized zones.

There is a distinct break in the gold assay cumulative frequency curve at 300g/t and that value was taken as the capping value.

Forward- looking statements include statements that are based on assumptions as of 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 such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved..

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