Gold Mountain Completes Private Placement for Elk Gold Project

Gold Mountain Mining Corp has closed a non-brokered private placement of 22 million flow-through common shares, priced at $0.055 each, raising $1,210,000. The funds are earmarked for Canadian exploration expenses at the company's Elk Gold Project in Merritt, British Columbia. These expenditures qualify for tax credits under the Income Tax Act in both Canada and British Columbia.

An effective date has been set for renouncing these expenses to subscribers by December 31, 2024. Investors benefit from a 20% provincial tax credit on expenditures. The company plans to pay $84,700 in finder's fees and issue 1,540,000 share purchase warrants, exercisable at $0.055 per share over two years. The Toronto Stock Exchange's final approval is pending.