Breaking News: Gold Mountain Receives Draft Mining Permit from the Ministry of Mines | #site_titleBreaking News: Gold Mountain Receives Draft Mining Permit from the Ministry of Mines

Breaking News: Gold Mountain Receives Draft Mining Permit from the Ministry of Mines

Gold Mountain Mining Corp. (OTCQB: GMTNF) (TSX-V: GMTN) (FRA: 5XFA) is pleased to announce that the Ministry of Energy, Mines & Low Carbon Innovation Communications Office (“EMLI”) has released the Company’s draft Mine Permit (the “Draft Mine Permit”) for review.

“We were told our permitting timelines were aggressive since going public on December 31, 2020. Receiving this draft permit is a testament to the management team’s ability to execute and maintain our ambitious schedule,” said Kevin Smith, CEO and Director. “Following our initial review of the draft permit we are encouraged to see that all conditions fell inline with our expectations and we anticipate providing our final comments to EMLI very shortly. This is the final step before it is sent up to the Statutory Decision Maker for final approval. This is an exciting development for all of our long term supporters and we look forward to delivering on our commitment of building BC’s next high grade gold and silver producer.”

Draft Mine Permit

A Draft Mine Permit is provided to applicants in advance of issuing a final permit in order to provide the opportunity to comment on any permit terms and conditions. The Company anticipates providing feedback to EMLI and finalizing permit language in mid-June. Once the permit language is agreed to, the final Mine Permit is submitted to the EMLI Statutory Decision Maker for final approval. The final Mine Permit confirms EMLI’s approval of the Company’s Mine Plan and Reclamation Plan for work at the Elk Gold Mine.

The Draft Mine Permit contained conditions relating to monitoring, operating, reporting and inspection requirements during the construction and operation of the mine. The document also details the reclamation and closure plan, short-term and long-term water management plan and the financial assurance conditions, including amounts required to begin operations at the Elk Gold Mine.

Other Authorizations

The Mine Permit is the most material authorization required to go into production and its receipt provides the Company with confidence that other ancillary authorizations will follow. Such authorizations include those related to the Explosives Storage and Use, Bulk Explosives Use, Road Use, Effluent Discharge, Industrial Access and Free Use (forest use). The Company is actively pursuing the receipt of all necessary authorizations and does not anticipate any delays in its production schedule resulting from the failure to hold any required authorization.

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.

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