VANCOUVER, BC / ACCESS Newswire / June 18, 2025 / Gold Mountain Mining Corp. ("Gold Mountain" or the "Company") (TSX:GMTN)(OTCQB:GMTNF)(FRA:5XFA) announces that it is temporarily ceasing all regular operations at the Elk Gold Mine.
The Elk Gold Mine Project is temporarily ceasing all regular operations to focus on resource development and to update existing resource models. The Company has provided the Ministry of Mines with notice of "Temporary Cessation of Regular Works" in accordance to Section 10.8.1 of the Mines Act (British Columbia). The planned period of temporary cessation is a minimum of 4 and a maximum of 12 months. The Company will submit a Care and Maintenance Manual to the Ministry of Mines within 90 days. Company Qualified Professionals, Supervisors and compliancy contractor AEW Limited Partnership shall remain in place and continue with normal compliancy, management and monitoring works during the cessation period.
In connection with the Company's internal review announced on March 17, 2025, the Company also advises that preliminary QAQC efforts on Elk Gold Mine resource data does warrant an extensive and complete relogging and resampling of all available core materials. The Company estimates that 65% of all available core is available to be relogged. The Company plans to complete relogging and sampling by the end of October 2025 and will commence development of a new PEA and 43-101 Technical Report immediately thereafter.
About Gold Mountain
Gold Mountain is a British Columbia based gold and silver production, exploration and development company focused on the development of the Elk Gold Mine, a producing mine located 57 kilometers from Merritt in South Central British Columbia. Additional information is available at www.sedarplus.ca or on the Company's new website at www.goldmountainminingcorp.ca.
For more information, please contact:
Gold Mountain Mining Corp.
Email: info@goldmountainminingcorp.ca
Website: www.goldmountainminingcorp.ca
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.
Forward Looking Statements
Forward-looking statements in this news release may include, but are not limited to, statements relating to those in respect of the Company's future financial reporting. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. The forward-looking statements contained in this news release are made as of the date hereof, and except as may be required by applicable securities laws, the Company assumes no obligation or intent to update publicly or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.
SOURCE: Gold Mountain Mining Corp
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/gold-mountain-mining-corp.-announces-temporary-cessation-of-regular-works-1041088
