Gold Mountain Mining Corp Provides Update on Elk Mine Project

VANCOUVER, BC — Gold Mountain Mining Corp. (“Gold Mountain” or the “Company”) (TSX:GMTN)(OTCQB:GMTNF)(FRA:5XFA) has issued an operational update on its Elk Mine project. The company reported low production results during the third and fourth quarters of 2025, attributing these outcomes to a planned winter work program. This program significantly reduced operations throughout the quarter, leading to decreased activity levels at the Elk Gold Mine.

In response to these developments, Gold Mountain has initiated an internal review of its National Instrument 43-101 compliant independent Technical Report for the Elk Mine. The report, titled “National Instrument 43-101 Technical Report and Resource Update on the Elk Gold Project, Merritt, British Columbia, Canada,” was prepared by L. John Peters, P.Geo, Gregory Z. Mosher, P.Geo, and Marinus Andre De Ruijter, P. Eng. These individuals are recognized as independent “Qualified Persons” under NI 43-101, with the report having an effective date of December 7, 2021, and a report date of January 21, 2022.

The company has advised stakeholders to exercise caution and not place undue reliance on the Technical Report or the resource estimate included therein until the internal review is completed and the findings are reported.

Company Overview

Gold Mountain Mining Corp. is a gold mining company focused on the Elk Gold Project located in the Similkameen Mining District of southern British Columbia. The company is listed on the Toronto Stock Exchange and trades in Canadian dollars (CAD). As of May 8, 2025, the close price of Gold Mountain’s stock was CAD 0.02, with a 52-week high of CAD 0.06 on November 10, 2024, and a 52-week low of CAD 0.01 on May 6, 2025. The market capitalization stands at CAD 8,190,000. The company’s price-to-earnings ratio is currently -0.345304.

This update reflects the company’s ongoing efforts to manage its operations and ensure compliance with industry standards, despite the challenges posed by seasonal work programs.