GOLD MOUNTAIN ENGAGES JDS MINING FOR ELK GOLD PROJECT PRE-FEASIBILITY STUDY
Channel: RICH TV LIVE
Date: 18/02/2021

GOLD MOUNTAIN ENGAGES JDS MINING FOR ELK GOLD PROJECT PRE-FEASIBILITY STUDY - RICH TV LIVE - February 18, 2021 - Gold Mountain Mining Corp. (TSXV:GMTN)(Frankfurt:5XFA) ("Gold Mountain" or the "Company") is pleased to announce that it has engaged JDS Energy & Mining Inc. ("JDS") to complete the Pre-Feasibility Study (the "PFS") at the Elk Gold Project located in British Columbia.

The PFS was commissioned to reflect the recent advancements the Company has made to the Elk Gold Project, most notably, the signing of both the Contract Mining Agreement and the Ore Purchase Agreement. These key inputs provide Gold Mountain with the near-term cost certainty required to delineate a maiden reserve at the Elk Gold Project. It is anticipated that the PFS will also update the Company's resource estimate at the Siwash North Zone based on the results of its Phase 1 drill program.

"We are very pleased to have JDS lead the PFS update. Their proven track record of engineering expertise in building 'fit for purpose' projects in Canada's north will greatly contribute to the Elk Gold Project," stated Kevin Smith, Director, and CEO. "Having a reputable group validate our economics, assess the underground potential, and continue to advance the Elk Gold Project, strengthens our upside and ability to deliver long-term value to our shareholders."

JDS will lead the PFS update with support from Knight Piesold Consulting and certain key independent consultants. The PFS is expected to be completed in Q3 2021.

Gord Doerksen, President of the Engineering Division at JDS, further states, "We are happy to be working with Gold Mountain to support near-term production and long-term planning at the Elk Gold Project. The team has built a strong foundation for JDS to add our extensive operational and permitting experience on a number of quality projects in BC, and we look forward to maximizing value together as partners."

#goldmountain #gold #richtvlive 

Qualified Person

The technical content of this news release has been reviewed and approved by Grant Carlson, P.Eng., as the Qualified Person under National Instrument 43-101.

About JDS Energy & Mining Inc.

JDS Energy & Mining Inc. is a BC-based engineering, construction, and UG development company specialized in providing value-added solutions for mineral resource projects. They are an experienced mine builder, having most recently provided feasibility study and EPCM services to two of Canada's newest gold mines; Victoria Gold's Eagle Mine in Yukon and Pure Gold's Madsen Mine in Ontario.

About Gold Mountain

Gold Mountain is a BC-based gold and silver exploration, and development company focused on resource expansion at the Elk Gold Project, a past-producing mine located 57 km from Merritt in South Central British Columbia.

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