An anonymous director reports

GOLD MOUNTAIN MINING CORP. OBTAINS ADDITIONAL FUNDING UNDER SECURED CONVERTIBLE DEBENTURE

Gold Mountain Mining Corp. has obtained an additional $600,000 in financing pursuant to an amended and restated secured convertible debenture dated as of July 11, 2025. The amended debenture amends and restates the terms of a secured convertible debenture dated as of June 18, 2024, that the company issued to Nhwelmen Construction Limited Partnership (the contract miner at the company's Elk gold mine), pursuant to which the company owes Nhwelmen $5-million (see the company's news release dated June 18, 2024, for further details respecting the original debenture).

The amended debenture amends the terms of the original debenture to increase the aggregate principal amount owing by the company to Nhwelmen from $5-million to $5.6-million. All other terms of the original debenture remain the same, including: The amended debenture is convertible at Nhwelmen's option into common shares of the company at a conversion price of eight cents per share (with an aggregate of 70 million common shares being issuable if the full $5.6-million is converted). The amended debenture matures on June 18, 2028. The principal amount of the amended debenture accrues interest at the rate of 12.0 per cent per annum, calculated monthly and payable in cash in arrears on each anniversary date from the date of issuance of the original debenture. The amended debenture may be prepaid in whole or in part, at the option of the company. The amended debenture is secured by a second priority security interest over all of the assets of the company including its current and after acquired property, as evidenced by the general security agreement dated effective March 10, 2024, between the company and Nhwelmen.

The company will use the additional financing for general working capital, which will provide the company with financial flexibility to support its continuing operations and strategic initiatives.

The additional financing remains subject to approval of the Toronto Stock Exchange. There can be no assurance that the financing will be completed on the terms contemplated or at all. The company will provide further updates as appropriate.

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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