Gold Mtn Mng - GMTNF STOCK NEWS

Gold Mountain Mining Corp. announced the receipt of a draft Mine Permit from the Ministry of Energy, Mines & Low Carbon Innovation for its Elk Gold Mine project. The draft permit aligns with the company's expectations and is a critical step towards final approval. CEO Kevin Smith expressed optimism about meeting the project timeline since going public. The draft includes monitoring, operating, and reclamation plans. Gold Mountain aims to secure additional authorizations without delays in production.

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.

Gold Mountain Mining has signed three Memorandum of Understanding (MOU) with Indigenous communities near the Elk Gold Project. These MOUs aim to foster long-term economic collaboration and engagement. CEO Kevin Smith highlighted the importance of these partnerships for project scaling. The agreements also include a mining contract with Nhwelmen-Lake LP, an Indigenous-owned company, which will start construction at Elk Gold, creating up to 30 job opportunities over the next decade. This initiative strengthens Gold Mountain's commitment to Indigenous investment in the Nicola Thompson region.

Gold Mountain Mining Corp. (GMTNF) released an updated preliminary economic assessment (PEA) for the Elk Gold Project, driven by an increased mineral resource estimate. The PEA projects an after-tax NPV of C$231 million and an annual production ramp-up from 19,000 ounces in the initial years to 65,000 ounces by Year 4. The project will utilize contract mining and an Ore Purchase Agreement with New Gold Inc. for processing. Notably, the PEA is preliminary and includes inferred resources, indicating uncertainty in mineral reserve status.

Gold Mountain Mining Corp. (GMTN) announced an updated preliminary economic analysis of the Elk Gold Project, revealing an after-tax NPV5% of C$231 million. Annual production is set to increase from 19,000 ounces in the first three years to 65,000 ounces from Year 4 to Year 11. The update follows a recent mineral resource increase and includes a fixed-price mining contract with Nhwelmen-Lake LP. The analysis indicates no onsite mineral processing, with ore delivered to New Gold's New Afton Mine. The PEA highlights potential profitability but caution is advised as inferred resources remain speculative.

Gold Mountain Mining Corp. has completed a significant milestone by making a $3,000,000 property payment to Equinox Gold for the Elk Gold Project. The total acquisition cost of $10,000,000 consists of a $1,000,000 deposit and a $9,000,000 interest-free loan. This payment addresses a major risk associated with the project. Gold Mountain plans to fund the remaining payments through proceeds from commercial production, with expectations to receive necessary mining permit amendments in late June 2021.

Gold Mountain Mining Corp. (TSX.V:GMTN, OTCQB:GMTNF) has announced a significant update to its National Instrument 43-101 Mineral Resource Estimate at the Elk Gold Project. Following a successful Phase 1 drill program, the updated resource now includes 651,000 oz of Measured & Indicated Resources at 6.1 g/t Au, a 43% increase, and 159,000 oz of Inferred Resource at 4.8 g/t Au, a 67% increase. The Phase 1 drill program comprised 8,739 metres and successfully intersected mineralization in all 41 holes. A detailed technical report will be available within 45 days.

Gold Mountain Mining Corp. announced receiving its Notice of Work permit, paving the way for an expanded Phase 2 exploration program at the Elk Gold Project. The program allows for 10,000m of drilling beyond the Siwash North Zone, targeting deep, high-grade mineralization, including the 1300 vein. The company aims to enhance resource potential while continuing to relog historical core for additional insights. This milestone positions Gold Mountain to explore new, high-potential zones and develop a bulk tonnage resource.

Gold Mountain Mining Corp. announced it has received its Notice of Departure to commence construction at its Elk Gold Project near Merritt, BC. This approval allows the company to start site preparation and anticipate ore delivery by Q4 2021. The authorization, received on April 29, aligns with the company's forecast to initiate construction in May 2021. Additionally, the company has addressed all remaining information requests from regulatory authorities, ensuring progress towards final permit approvals.