GCM Mining Declares June 15, 2022 Monthly Dividend

Rhea-AI Summary

GCM Mining Corp. (TSX: GCM, OTCQX: TPRFF) has declared a monthly dividend of CA$0.015 per common share to be paid on June 15, 2022. Shareholders recorded by the close of business on May 31, 2022, will be eligible. The company is a mid-tier gold producer with significant operations in Colombia, notably at Segovia, where it produced 206,389 ounces of gold in 2021. Additionally, GCM is advancing the fully funded Toroparu Project in Guyana, set to begin production in 2024 with over 200,000 ounces of gold annually.

Positive

• Monthly dividend of CA$0.015 enhances shareholder income.
• Strong production performance with 206,389 ounces of gold produced in 2021.
• Toroparu Project anticipated to contribute over 200,000 ounces of gold annually starting in 2024.

Negative

• None.

TORONTO, May 16, 2022 (GLOBE NEWSWIRE) -- GCM Mining Corp. (“GCM Mining” or the “Company”) (TSX: GCM, OTCQX: TPRFF) announced today that its Board of Directors has declared the next monthly dividend of CA$0.015 per common share will be paid on June 15, 2022 to shareholders of record as of the close of business on May 31, 2022.

About GCM Mining Corp.

GCM Mining is a mid-tier gold producer with a proven track record of mine building and operating in Latin America. In Colombia, the Company is a leading high-grade underground gold and silver producer with several mines in operation at its Segovia Operations. Segovia produced 206,389 ounces of gold in 2021. In Guyana, the Company is advancing its fully funded Toroparu Project, one of the largest undeveloped gold/copper projects in the Americas, which is expected to commence production of more than 200,000 ounces of gold annually in 2024. GCM Mining pays a monthly dividend to its shareholders and has equity interests in Aris Gold Corporation (~44%; TSX: ARIS; Colombia – Marmato, Soto Norte; Canada - Juby), Denarius Metals Corp. (~29%; TSX-V: DSLV; Spain – Lomero-Poyatos and Colombia – Guia Antigua, Zancudo) and Western Atlas Resources Inc. (~26%; TSX-V: WA: Nunavut – Meadowbank).

Additional information on GCM Mining can be found on its website at www.gcm-mining.com and by reviewing its profile on SEDAR at www.sedar.com.

Cautionary Statement on Forward-Looking Information:

This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the payment of dividends and other anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of GCM Mining to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated as of March 31, 2022 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and GCM Mining disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@gcm-mining.com

FAQ

What is the dividend amount declared by GCM Mining Corp. in May 2022?

GCM Mining Corp. declared a monthly dividend of CA$0.015 per common share.

When will the dividend be paid to shareholders of GCM Mining Corp.?

The dividend will be paid on June 15, 2022.

Who will receive the dividend payment from GCM Mining Corp.?

Shareholders of record as of the close of business on May 31, 2022, will receive the dividend.

How much gold did GCM Mining Corp. produce in 2021?

GCM Mining Corp. produced 206,389 ounces of gold in 2021.

What major project is GCM Mining Corp. advancing in Guyana?

GCM Mining Corp. is advancing the fully funded Toroparu Project.