An anonymous director reports
GOLD MOUNTAIN RECEIVES PRODUCTION BONUS PAYMENT FROM SILVER CROWN ROYALTIES INC.
Gold Mountain Mining Corp. has received the first $500,000 silver production bonus payment from Silver Crown Royalties Inc. The production bonus payment was paid pursuant to the terms of the royalty agreement between the company and SCR dated May 11, 2023. Details of the royalty agreement are set out in press releases dated May 12, 2023, and May 25, 2023.
The payment of the production bonus payment was triggered when the company achieved the sale of 6,666 contained ounces of silver on a trailing annualized basis for six consecutive months ended April 30, 2023. To trigger the next production bonus payment, the company must achieve the sale of 8,888 contained ounces of silver on an annualized basis.
The foregoing technical information was approved by Ronald Woo, PEng, a qualified person as defined under National Instrument 43-101, the chief executive officer for the company.
About Gold Mountain Mining Corp.
Gold Mountain is a British Columbia-based gold and silver exploration and production focused on the development of the Elk gold project, located 57 kilometres from Merritt in south-central British Columbia.
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