Gold Mtn Mng - GMTNF STOCK NEWS

Gold Mountain Mining Corp. (TSX:GMTN)(OTCQB:GMTNF)(FRA:5XFA) provided an operational update highlighting a successful January 2023 at the Elk Gold Project. The company generated approximately CAD$2.3M in revenue and achieved an adjusted EBITDA of CAD$725k. A total of 1,164 AuOz and 1,183 AgOz were delivered, with cash costs at CAD$1,187/oz Au and all-in sustaining costs of CAD$1,485/oz Au. This marks the fourth consecutive month of improved grade, with January being the best month since operations began in February 2022. Additionally, the company appointed new management, including a CFO with extensive mining experience.

Gold Mountain Mining Corp. reported its third quarter FY2023 results, generating $2,091,371 in revenue and delivering 1,133 ounces of gold. After completing an in-fill drilling program and redesigning its pit, the company resumed ore mining and delivery to New Gold Inc. in September. Upcoming plans include releasing an updated resource estimate and a preliminary economic assessment in Q1 2023, alongside efforts to expand production to 65,000 ounces of AuEq annually. Average head grade during this period was 3.49 g/t.

Gold Mountain Mining Corp. announced a correction to its previous press release regarding its Phase III drill results. The correction clarifies the true width of intercepts and the QA/QC measures in place, with assays conducted at Actlabs in Kamloops, BC. The Phase III program, totaling 15,500 meters, yielded significant high-grade gold intervals, with notable intercepts such as 65.37 g/t Au over 1.31 m. The company plans to incorporate these results into an updated mineral resource estimate expected in Q4, with no material QA/QC issues reported.

Gold Mountain Mining Corp. announced its Q2 FY2023 financial and operational results, generating $968,860 in revenue. The company faced startup challenges while transitioning to production, focusing on in-fill drilling and optimizing ore control processes. Significant high-grade gold intercepts from its Phase III exploration program were reported, with plans for an updated resource estimate in Q4. The BC Environmental Assessment Office ruled that an environmental assessment isn't needed for proposed production expansion.

Gold Mountain Mining Corp. (TSX:GMTN) announced its Q1 2022 financial results, reporting revenue of $3,706,423 and an adjusted EBITDA of $526,949. The Company mined 15,063 tonnes of ore, yielding 1,898 AuOz and 1,697 AgOz. Despite achieving production milestones, operational challenges during the Elk Gold Mine's commissioning impacted ore production levels. The Company is addressing these issues through initiatives like enhanced drilling and sampling procedures. It wrapped the quarter with $18,819,693 in cash, laying groundwork for future expansion.

Gold Mountain Mining Corp. has successfully completed a bought deal public offering of 14,800,000 units at $1.25 each, raising $18.5 million. Each unit comprises one common share and one-half warrant, with the warrants exercisable at $1.75 until April 21, 2024. Proceeds will support the development of the Elk Gold Project, repay debt, and provide working capital. The offering was led by Eight Capital and is subject to specific U.S. regulations on securities.

Gold Mountain Mining Corp. has successfully intercepted additional mineralization at the Elk Gold project during its Phase III drill campaign in the Siwash North Zone. Notable results include high-grade gold intercepts such as 1.50 m grading 42.39 g/t Au and 0.30 m of 207.00 g/t Au. These findings will enhance geological confidence in the adjacent veins and potentially accelerate their incorporation into the mining plan. The company aims to publish an updated resource estimate in late 2022.

Gold Mountain Mining Corp. (TSX:GMTN) has announced successful drilling results from its Phase III campaign at the Elk Gold project, revealing high-grade mineralization in the Siwash North Zone.

Key intercepts include 1.50 m at 42.39 g/t Au and significant findings from other drill holes. These results enhance geological confidence and aim to expand the resource base. The company anticipates releasing an updated resource estimate later in 2022. CEO Kevin Smith highlighted plans for integrating new high-grade discoveries into their mining operations, aiming for a production profile of 19,000 oz.