Mr. Grant Carlson reports

GOLD MOUNTAIN REPORTS ITS Q1 2024 FINANCIAL AND OPERATING RESULTS

Gold Mountain Mining Corp. has released its financial and operating results for the three months ended April 30, 2023 (Q1 2024). The company's financial statements, management's discussion and analysis (MD&A), are available for download on SEDAR and the company's website. All amounts are expressed in Canadian dollars unless otherwise noted.

Q1 2024 highlights

• Gold sales of 1,798 ounces from 7,794 tonnes delivered grading at an average of 8.34 grams per tonne;
• Quarterly record revenue of $4,168,376 at an average realized gold price of $2,298 per ounce of gold sold;
• Mine operating income of $1,592,376;
• Net income of $960,609, or one cent per share (basic), for Q1 2024 compared with a loss of $237,816, or zero cents per share (basic), for Q1 2023;
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $1,305,716;
• Total cash costs per ounce sold of $1,304.

Qualified person

The foregoing technical information was approved by Grant Carlson, PEng, a qualified person, as defined under National Instrument 43-101 and the chief operating officer for the company.

About Gold Mountain Mining Corp.

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 kilometres from Merritt in south-central British Columbia.

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