Gold Mountain Corrects Technical Disclosure on its Phase III Drill Results

VANCOUVER, BC / ACCESSWIRE / September 15, 2022 / Gold Mountain Mining Corp. ("Gold Mountain" or the "Company") (TSX:GMTN)(OTCQB:GMTNF)(FRA:5XFA) announces a correction to its press release dated September 14, 2022. This corrective press release now discloses the true width of the intercepts, QA/QC measures, analytical procedures related to its Phase III drill results and that all assays were conducted at Actlabs in Kamloops BC. There is no correction to the results of the drill program.

Highlights:

• The Company received all assay results from its Phase lll Drill Program (15,500m) which intersected significant high-grade intervals to extend the known mineralization in the Gold Creek and Siwash North zones.
  • Highlight intercepts include:
    • 65.37 g/t Au over 1.31 m including 276 g/t Au over 0.31 m
    • 48.38 g/t Au over 2.04 m including 258 g/t Au over 0.38 m
    • 59.54 g/t Au over 1.30 m Including 258 g/t Au over 0.30 m
    • 104.72 g/t Au over 0.79 m Including 167 g/t Au over 0.49 m
    • 32.32 g/t Au over 1.47 m Including 101 g/t Au over 0.47 m
    • 66.60 g/t Au over 0.95 m Including 102 g/t Au over 0.62 m
• Assay intervals are presented as apparent thickness. True thickness will vary depending on the orientation of the drill hole but are typically 70-90% of the apparent thickness.

Phase lll Drill Results

• During the second quarter the Company completed its Phase lll exploration program which totaled 15,500 meters.
• The campaign successfully expanded several important areas of the vein model and continued to intercept high gold grades.
• Drilling on the 1300 vein extended its mineralization down-dip another 150m, reaching a depth of over 400m below the surface.
• Additional drilling successfully targeted areas of high-grade inferred resources in the current mineral resource estimate in order to increase the level of geological confidence in those zones.
• The strong results from the Phase III campaign are planned to be incorporated into an updated mineral resource estimate anticipated to be completed in Q4.
• Below is a table of selected core drill results from the Phase III drill program. A complete list of all drill results to date have been posted to the Company's website at www.Gold-Mountain.ca :

*Assay intervals are presented as apparent thickness. True thickness will vary depending on the orientation of the drill hole but are typically 70-90% of the apparent thickness.

Quality Assurance/Quality Control (QA/QC) Measures and Analytical Procedures

Gold Mountain adheres to a strict QA/QC monitoring program that includes the insertion of blanks, standards and duplicates into the sample stream, as well as the re-submission of select samples for check assays by an independent third-party laboratory. Core samples were analyzed by Actlabs in Kamloops BC using Fire Assay methods with a gravimetric finish for results over 10g/t gold.

No material QA/QC issues were noted with the results received from the laboratory.

Qualified Person

The foregoing technical information was approved by Grant Carlson, P.Eng., a Qualified Person, as defined under National Instrument 43-101 and the Chief Operating Officer for the Company.

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 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.

For further information, please contact:

Gold Mountain Mining Corp.
Phone: 778.262.0933
Email: IR@gold-mountain.ca
Website: www.gold-mountain.ca
Twitter: www.twitter.com/goldmtnmine_

Forward-Looking Statements

This includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward- looking statements include statements that are based on assumptions as of the date of this news release and are not purely historical including any information relating to statements regarding beliefs, plans, expectations or intentions regarding the future and often, but not always, use words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this press release include the impact of the Phase III drilling on the Company's resource estimate and any potential to upgrade the inferred resource estimates. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; the price of gold; and the results of current exploration. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Gold Mountain disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. For a comprehensive overview of all risks that may impact the Company, please see the Annual Information Form for the year ended January 31, 2021 a copy of which was filed on November 4, 20201 and is available on SEDAR.

SOURCE: Gold Mountain Mining Corp.