Gold Mountain Executes Three MOU's with Indigenous Communities Surrounding the Elk Gold Project

Rhea-AI Summary

Gold Mountain Mining Corp. has executed three Memorandum of Understandings (MOUs) with Indigenous communities for the Elk Gold Project in British Columbia. These agreements aim to foster ongoing collaboration and ensure social and economic benefits. The company's mining contractor, Nhwelmen-Lake LP, a majority Indigenous-owned firm, is mobilizing for mine construction, projected to create 30 jobs and boost the local economy for the next decade. Gold Mountain emphasizes its commitment to strong relationships with Indigenous partners as it scales its operations.

Positive

• Executed three MOUs with Indigenous communities, promoting collaboration and social engagement.
• Nhwelmen-Lake LP, a majority Indigenous-owned contractor, is starting mine construction, creating 30 local jobs.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / June 3, 2021 / Gold Mountain Mining Corp. ("Gold Mountain" or the "Company") (TSXV:GMTN)(OTCQB:GMTNF)(Frankfurt:5XFA) is pleased to announce that it has successfully executed three Memorandum of Understanding's ("MOU") with surrounding Indigenous communities, establishing a process for ongoing engagement towards social and economic collaboration.

"By taking an inclusive approach since we acquired the project, we continue to build a strong foundation with surrounding Indigenous communities and governments," stated Kevin Smith, CEO of Gold Mountain Mining. "The MOU's and mining contract with Nhwelmen-Lake are a result of our positive engagement and provide the company with momentum as we continue to scale this project through collaborative partnerships."

Memorandum of Understanding

The MOU's will strengthen Gold Mountain's corporate initiative and further showcase the Company's efforts to prioritize its investment in Indigenous communities within the Nicola Thompson region. The execution of the MOU's represents the Company's commitment to open and collaborative working relationships between the Indigenous communities for all activities at the Elk Gold Project moving forward.

Nhwelmen-Lake LP

Additionally, Gold Mountain's mining contractors Nhwelmen-Lake LP, a majority Indigenous owned excavating company, are currently mobilizing equipment and are set to begin mine construction at the Elk Gold project. This endeavor is forecasted to provide up to 30 on site job opportunities and will help strengthen the region's economy for the next 10 years.

About Gold Mountain Mining

Gold Mountain is a British Columbia based gold and silver exploration and development company focused on resource expansion at the Elk Gold Project, a past-producing mine located 57 KM from Merritt in South Central British Columbia. Additional information is available at www.sedar.com or on the Company's new website at www.gold-mountain.ca.

For Further information, please contact

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. 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. 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. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; the price of gold; and the results of current exploration. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Gold Mountain disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. For a comprehensive overview of all risks that may impact the Company, please see the Company's Management Discussion and Analysis for the year ended January 31, 2021 a copy of which is available at www.sedar.com.

SOURCE: Gold Mountain Mining Corp

View source version on accesswire.com:
https://www.accesswire.com/650249/Gold-Mountain-Executes-Three-MOUs-with-Indigenous-Communities-Surrounding-the-Elk-Gold-Project

FAQ

What are the recent developments for Gold Mountain Mining Corp. regarding the Elk Gold Project?

Gold Mountain Mining Corp. has signed three MOUs with Indigenous communities, enhancing collaboration for the Elk Gold Project.

What economic impact will the new MOUs have for the Elk Gold Project?

The MOUs will lead to increased economic collaboration and create approximately 30 job opportunities at the Elk Gold Project.

Which Indigenous contractor is involved in the Elk Gold Project?

The mining contractor involved is Nhwelmen-Lake LP, a majority Indigenous-owned company.

How does Gold Mountain Mining Corp. aim to engage with Indigenous communities?

Gold Mountain plans to prioritize open and collaborative relationships with Indigenous communities as part of their corporate initiative.

What is the significance of the MOUs for Gold Mountain Mining Corp.?

The MOUs signify the company's commitment to social and economic development in partnership with Indigenous communities.