Announcement • May 25
Gold Mountain Limited has filed a Follow-on Equity Offering in the amount of AUD 4.5 million. Gold Mountain Limited has filed a Follow-on Equity Offering in the amount of AUD 4.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 45,000,000
Price\Range: AUD 0.1
Transaction Features: Subsequent Direct Listing Recent Insider Transactions • Apr 29
MD & Executive Director recently sold AU$567k worth of stock On the 24th of April, David Evans sold around 4m shares on-market at roughly AU$0.13 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was David's only on-market trade for the last 12 months. Announcement • Apr 29
Gold Mountain Limited has completed a Follow-on Equity Offering in the amount of AUD 5.5 million. Gold Mountain Limited has completed a Follow-on Equity Offering in the amount of AUD 5.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,000,000
Price\Range: AUD 0.1
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 45,000,000
Price\Range: AUD 0.1
Transaction Features: Subsequent Direct Listing New Risk • Mar 13
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.5m free cash flow). Share price has been highly volatile over the past 3 months (27% average weekly change). Shareholders have been substantially diluted in the past year (123% increase in shares outstanding). Revenue is less than US$1m (AU$69k revenue, or US$49k). Minor Risk Market cap is less than US$100m (AU$22.5m market cap, or US$15.9m). Announcement • Oct 27
Gold Mountain Limited has completed a Follow-on Equity Offering in the amount of AUD 3.526408 million. Gold Mountain Limited has completed a Follow-on Equity Offering in the amount of AUD 3.526408 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 13,946,955
Price\Range: AUD 0.05
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 16,581,196
Price\Range: AUD 0.05
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 29,928,919
Price\Range: AUD 0.066825
Transaction Features: Rights Offering; Subsequent Direct Listing Announcement • Oct 22
Gold Mountain Limited has completed a Follow-on Equity Offering in the amount of AUD 2 million. Gold Mountain Limited has completed a Follow-on Equity Offering in the amount of AUD 2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 29,928,919
Price\Range: AUD 0.066825
Transaction Features: Subsequent Direct Listing Announcement • Oct 02
Gold Mountain Limited, Annual General Meeting, Nov 24, 2025 Gold Mountain Limited, Annual General Meeting, Nov 24, 2025. Location: at level 1, 251 elizabeth street, sydney ,new south wales, Australia Announcement • Sep 30
Gold Mountain Limited has filed a Follow-on Equity Offering in the amount of AUD 1.98433 million. Gold Mountain Limited has filed a Follow-on Equity Offering in the amount of AUD 1.98433 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 30,411,187
Price\Range: AUD 0.06525
Transaction Features: Subsequent Direct Listing New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (65% average weekly change). Earnings have declined by 20% per year over the past 5 years. Shareholders have been substantially diluted in the past year (35% increase in shares outstanding). Revenue is less than US$1m (AU$38k revenue, or US$25k). Market cap is less than US$10m (AU$12.2m market cap, or US$8.07m). Minor Risk Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Announcement • Sep 30
Gold Mountain Limited has filed a Follow-on Equity Offering in the amount of AUD 1.526408 million. Gold Mountain Limited has filed a Follow-on Equity Offering in the amount of AUD 1.526408 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 13,946,955
Price\Range: AUD 0.05
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 16,581,197
Price\Range: AUD 0.05
Security Features: Attached Options
Transaction Features: Rights Offering Announcement • Aug 19
Gold Mountain Limited Provides Update on Presentation Brazilian Critical Minerals for Clean Energy Transition Gold Mountain Limited ("Gold Mountain" or "the Company" or "GMN") refers to the presentations released on 11 August 2025 titled "Presentation - Brazilian Critical Minerals for Clean Energy" and "Presentation - Drilling REE for the Clean Energy Transition" and makes the following clarifications. The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Peter Temby, a Competent Person who is a Member of Australian Institute of Geoscientists. Exploration results have been compiled and interpreted by Peter Temby who is an independent consultant working currently for Gold Mountain Ltd. Peter Temby confirms there is no potential for a conflict of interest in acting as the Competent Person. Peter Temby has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Reserves'. Peter Temby consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. In respect of Slides 11-12 and 13-14, respectively, the following statements are made in clarification: An Exploration Target is a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade (or quality), relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource. The potential quality and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate an Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. For the purpose of defining the Exploration Target, a mineralised thickness of 25 metres has been assumed -equating to 75% of the average thickness reported by Brazilian Rare Earths (BRE) in their Prospectus dated 13 November 2023. The broader contiguous area of exploration target, which excludes the area proposed to be drilled, was given a 40% success rate of intersecting significant grade TREO. The density of the weathered profile hosting the mineralisation has been assumed to be 1.7 tonnes per cubic metre, consistent with the value reported by Brazilian Rare Earths ("BRE") reported in their prospectus (13 November 2023). The lateritic profile containing the mineralisation is part of the same extensive weathering horizon that continues across the BRE tenements. New Risk • May 25
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 38% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (57% average weekly change). Earnings have declined by 20% per year over the past 5 years. Shareholders have been substantially diluted in the past year (38% increase in shares outstanding). Revenue is less than US$1m (AU$38k revenue, or US$25k). Market cap is less than US$10m (AU$7.70m market cap, or US$5.00m). Announcement • Apr 03
Gold Mountain Limited has filed a Follow-on Equity Offering in the amount of AUD 3.052816 million. Gold Mountain Limited has filed a Follow-on Equity Offering in the amount of AUD 3.052816 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 425,963,964
Price\Range: AUD 0.002
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,100,443,764
Price\Range: AUD 0.002
Security Features: Attached Options
Transaction Features: Rights Offering New Risk • Mar 16
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$1.3m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.3m free cash flow). Share price has been highly volatile over the past 3 months (42% average weekly change). Earnings have declined by 20% per year over the past 5 years. Shareholders have been substantially diluted in the past year (59% increase in shares outstanding). Revenue is less than US$1m (AU$40k revenue, or US$25k). Market cap is less than US$10m (AU$4.58m market cap, or US$2.90m). Recent Insider Transactions • Jan 10
MD & Executive Director recently bought AU$296k worth of stock On the 9th of January, David Evans bought around 98m shares on-market at roughly AU$0.003 per share. This transaction amounted to 88% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was David's only on-market trade for the last 12 months. Board Change • Dec 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Non-Executive Director Syed Alsagoff is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Oct 09
Gold Mountain Limited, Annual General Meeting, Nov 28, 2024 Gold Mountain Limited, Annual General Meeting, Nov 28, 2024. Location: level 1, 251 elizabeth street, sydney, new south wales., new south wales. Australia New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 43% per year over the past 5 years. Shareholders have been substantially diluted in the past year (99% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$13.5m market cap, or US$9.37m). Minor Risk Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Announcement • Aug 29
Gold Mountain Limited Appoints Maria Lucila Seco as Non-Executive Director Gold Mountain Limited confirmed the appointment of Maria Lucila Seco as a Non-Executive Director. Maria Lucila is an experienced attorney, possessing a law degree from Universidad Catolica Argentina and a Master of Laws (LL.M.) from New York University, conferred in 2020. Her professional journey includes a distinguished role as an International Associate with the Capital Markets team at Shearman Sterling LLP in New York during 2022-2023. Additionally, Maria Lucila brings over eight years of experience from her tenure at top-tier law firms in Argentina. She has cultivated a profound expertise in advising domestic and international clients on an array of sophisticated corporate matters, including mergers and acquisitions, financing transactions, and other intricate corporate dealings. Announcement • Aug 06
Gold Mountain Limited has filed a Follow-on Equity Offering in the amount of AUD 2.7 million. Gold Mountain Limited has filed a Follow-on Equity Offering in the amount of AUD 2.7 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 729,729,733
Price\Range: AUD 0.0037
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Apr 27
Gold Mountain Limited Appoints Hugh Behroozy to the Board of Directors Gold Mountain Mining Corp. announced that Hugh Behroozy has been appointed to its Board of Directors effective immediately. Mr. Behroozy is an entrepreneur with experience funding and building businesses across a breadth of industries. Mr. Behroozy's background in systems integration, 3D modeling and artificial intelligence, which will support the company in further understanding the Elk project's ore-body and development of predictive modeling. Hugh will serve as an independent director and member of the company's audit committee. Announcement • Apr 16
Gold Mountain Limited, Annual General Meeting, May 16, 2024 Gold Mountain Limited, Annual General Meeting, May 16, 2024, at 12:00 W. Australia Standard Time. Location: U24, 589 Stirling Highway Perth Western Australia Australia New Risk • Mar 20
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 82% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings have declined by 43% per year over the past 5 years. Shareholders have been substantially diluted in the past year (82% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$10.7m market cap, or US$6.99m). New Risk • Feb 03
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Earnings have declined by 58% per year over the past 5 years. Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$8.61m market cap, or US$5.61m). Announcement • Jan 19
Gold Mountain Limited SHS to Be Deleted from OTC Equity Gold Mountain Limited SHS (Australia) will be deleted from OTC Equity effective January 18, 2024, due to Inactive Security. Announcement • Jan 18
Gold Mountain Mining Corp. Announces the Resignation of Stephen Wilkinson from the Board of Directors Gold Mountain Mining Corp. has also accepted the resignation of Mr. Stephen Wilkinson from the Company's Board of Directors. Announcement • Sep 29
Gold Mountain Limited, Annual General Meeting, Nov 20, 2023 Gold Mountain Limited, Annual General Meeting, Nov 20, 2023. Announcement • Jan 09
Gold Mountain Limited, Annual General Meeting, Feb 08, 2023 Gold Mountain Limited, Annual General Meeting, Feb 08, 2023, at 11:00 E. Australia Standard Time. Location: Mantra Midtown Brisbane 127 Charlotte Street Brisbane Queensland Australia Agenda: To consider the approval to Issue Mars Consideration Shares Under Listing Rule 7.1; to consider the ratification of Prior Issue of Placement Shares Under Listing Rule 7.1; to consider the ratification of Prior Issue of Placement Shares Under Listing Rule 7.1A; to consider the approval to Issue Placement Options Under Listing Rule 7.1; and to consider the approval to Issue Broker Options Under Listing Rule 7.1. Announcement • Jan 06
Gold Mountain Commits to Exploration Program to Earn an Additional 55% Interest in Brazil Lithium Projects Gold Mountain Limited announced that results for an additional twenty-eight (28) rock chip samples collected from the Juremal, Cerro Corá and Porta D'Agua projects by Mars Mines geologists from an initial due diligence program in October 2022 have been returned. Ten (10) of the samples collected contain values of greater than 100ppm Li2O, which when surface leaching and weathering is taken into account, are considered to be anomalous. These results support the results released by Gold Mountain in November 20221 which indicate that LCT bearing pegmatites are prevalent in all the JV project areas. Results also indicate that trace elements (Ce, Ta, Nb) related to LCT pegmatites are associated with the anomalous Li2O, samples but their concentrations vary between project areas and within each project area, which is a function of pegmatite field zoning and also the differences between pegmatite fields and the progenitor granite intrusive. In order to determine the optimum and most cost-effective sample methodology, the rock chip samples were analysed using both sodium peroxide fusion and ICP (ICP90A) and by 4 acid digest and ICP methods (ICM40B) by two different laboratories. Results were similar from both laboratories using both methods. The four-acid digest methodology does not necessarily extract all the lithium from the rock samples and can give slightly lower Li readings than the sodium peroxide fusion method, but it is considered by Mars Mines geologists to be appropriate for all early-stage exploration. However, the more accurate ICP90A methodology should be used for assaying drill samples which may later be used for resource estimation.On analysing and interpreting the assay data, it was noted that the degree of weathering, the amount of erosion as well as the depth from surface a sample was collected from, makes an impact on what constitutes an important anomalous result in a particular area. Each area must be treated on its own merits when interpreting the lithium results. The results for Juremal and Custodia are considered by Mars Mines geologists to be very encouraging and indicate that with focused mapping and sampling campaigns the Juremal and Custodia Projects could rapidly be progressed to the drilling stage. The samples taken in the Porta D'Agua project were of fresh rock from one pegmatite and show that, although the pegmatites are LCT type, the sampled pegmatite is not in the highly lithium productive zone that may exist in the large swarm of pegmatites confirmed on the ground. It is likely that more fractionated pegmatites do occur in the tenement and a planned stream sediment sampling program will assist the Company in identifying them. The sample taken on the Cerro Cora tenement was from a pegmatite situated adjacent to the granite contact and was not expected to contain significant mineralisation, provided the granite adjacent to the pegmatite was the source of the pegmatites. Assay results showed this to be the case, however these results will assist in identifying which parts of the Cerro Cora tenement may contain mineralised pegmatites, thereby focusing future exploration activities. A stream sediment sampling program planned for Cerro Cora should allow the Company to focus on the parts of the pegmatite field with the most potential for identifying lithium deposits. Of note is that these samples were collected on a wide spaced short field reconnaissance program, with only a very small portion of the JV project areas being visited. The fact that LCT pegmatites have been identified on the tenements is very encouraging and with more detailed exploration planned, it is considered likely by Mars and Gold Mountain geologists that additional LCT pegmatites will be identified. Announcement • Dec 23
Gold Mountain Limited has announced a Derivatives Offering in the amount of AUD 0.34063 million. Gold Mountain Limited has announced a Derivatives Offering in the amount of AUD 0.34063 million.
Security Name: Options
Security Type: Equity Option
Securities Offered: 340,629,834
Price\Range: AUD 0.001
Transaction Features: Rights Offering Announcement • Dec 21
Gold Mountain Limited (ASX:GMN) agreed to acquire 75% stake in Salinas II Lithium Tenements in Brazil from Mars Mines Limited for AUD 1.13 million. Gold Mountain Limited (ASX:GMN) agreed to acquire 75% stake in Salinas II Lithium Tenements in Brazil from Mars Mines Limited for AUD 1.13 million on December 20, 2022. The transaction is subject to approval of Gold Mountain Limited shareholders. Announcement • Nov 21
Gold Mountain Limited Exercises Option to Acquire 20% Interest in Brazil Lithium Projects Gold Mountain Limited provided an update on its option to acquire an initial 20% interest in four Brazilian lithium projects held by Mars Mines Limited ("Mars") and an update to on its recent due diligence reconnaissance field exploration activities in Brazil. Update on Corporate Transaction: As announced on 19 September 20221, the Company entered into a binding heads of agreement (HoA) with Mars Mines Limited (Mars) granting the Company a 60-day exclusive option to acquire up to a 75% interest in a package of highly prospective lithium licenses in north-eastern Brazil (Option). Following successful technical and legal due diligence, Gold Mountain notified Mars that it was proceeding with the exercise of the Option. Pursuant to the terms of the HoA, the Company will proceed with the issue of the consideration securities to Mars. Update on Field Exploration Activities: A team of geologists from Mars Mines and Gold Mountain conducted an initial reconnaissance trip to potential lithium bearing tenements in Brazil. Three of the four project areas were visited with the fourth area at Jacurici yet to be assessed. The focus of the trip was to confirm the presence of potential LCT pegmatites on the tenements and to prepare the groundwork for more extensive and detailed exploration programs in late 2022 and 2023. Cerro Cora and Porta D'Agua Project: The Cerro Cora and Porta D'Agua Projects are centred approximately 12 km north-northeast of the town of Cerro Cora. The tenement areas were pegged to cover a significant belt of LCT pegmatites, where historical mining has produced tantalum, beryl and niobium REE's.The Porta D'Agua Project consists of a single tenement in a belt of historical beryl and tantalum occurrences and the Cerro Cora tenements comprise two large tenements with known tantalum-bearing pegmatites. Tantalum is an important element in LCT pegmatites (Lithium-Caesium-Tantalum) and the geological team is using tantalum occurrences as a pathfinder element for lithium hosting pegmatites. Numerous pegmatites have been interpreted from satellite imagery and linear artisanal workings have been mapped by the geological team. Many additional weathered pegmatites were also recognized in roads traversing the tenement. Interpreted structures subparallel to the majority of the mapped workings and interpretedpegmatites are shown as brown lines on Figure 2 below. These structures are thought to be target zones for pegmatite intrusions and are crosscutting a regional structure at right angles. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director Steven Larkins was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 28
Gold Mountain Limited Announces Exploration and Due Diligence in Brazil Uncovers Potential Lithium Bearing Pegmatites Gold Mountain Limited announced that geologists from Gold Mountain and Mars Mines Ltd. (Mars) have commenced high level regional field reconnaissance and due diligence work on the four lithium project areas in Brazil. As announced 18 September 2022, Gold Mountain has an option to acquire up to a 75% interest in the projects from Mars. This initial reconnaissance survey took approximately 10 days to complete with the geologists visiting three out of the four project areas. Initial reports from the geologists are encouraging with potential lithium bearing pegmatites observed in sub-crop, outcrop and proximal float at both the Juremal and Custodia project areas. Spodumene (lithium aluminium silicate) was visually identified on and adjacent to both of these tenements, hosted by pegmatites. Rock chip sampling, geological traversing and mapping is underway on the project areas, and once completed the rock chip samples will be submitted to the ALS laboratory in Brisbane and the SGS laboratory in Belo Horizonte in Brazil for analysis. Geological traversing of tracks and arid Caatinga scrub land covering tenement 870208/2022 has resulted in the identification of potential spodumene bearing pegmatites in the southern part of the licence. Samples are dominantly float from a licence containing minimal outcrop, estimated at well under 0.5%, beneath a widespread thin colluvial and alluvial gravel and cobble layer. Sufficiently incised drainage is present to warrant a detailed stream sediment sampling survey that will define areas for soil sampling. It is thought that soil, colluvial and alluvial cover is very thin overall (1-3m), with outcrops mainly found along the bed and banks of shallow drainage lines. Lithium pegmatites were reported within the granted Custodia project tenements by Neliton Santos, Mars Mines' local Brazilian geologist. Neliton Santos carried out a soil and rock chip sample program earlier in the year. Visible spodumene was identified in some of the pegmatite samples which he collected, these samples are currently at the laboratory, pending analysis. The current work comprised resampling the pegmatite and limited mapping. Abundant colourless, pale blue and mauve coloured spodumene (kunzite) crystals were identified within the host weathered pegmatite and structural zone. Numerous crystals of spodumene recovered by local farmer were also inspected. The Mars tenements granted by the Brazilian Mining Agency are designed to cover potentially favourable geology settings for pegmatite, however given the inaccuracy of the regional data this may need to be reviewed. Favourable pegmatite source geology is considered to be the Brasiliano/Pan African age Itaporanga and Camalau intrusive suites and its immediate hosts within an approximate 5km of the granite margins. The Mars tenements are located in underexplored lithium bearing pegmatite provinces and very few samples have been collected by the Brazilian Geological Survey during their regional rock sampling program. Several low-level anomalous samples were recovered by the Brazilian Geological Survey and these are now considered to be of significance due to the rapid leaching of lithium expected in the strongly weathered and lateritized environment present. This gives Gold Mountain the unique opportunity to be one of the first to effectively explore this highly prospective region. Announcement • Sep 24
Gold Mountain Limited, Annual General Meeting, Nov 18, 2022 Gold Mountain Limited, Annual General Meeting, Nov 18, 2022. Agenda: To consider the re-election and appointment of directors. Announcement • Jun 14
Gold Mountain Limited Provides an Update on the Latest Assay Results the Company Has Received from the Mt Wipi Prospect Which Comprises Part of the Wabag Project Gold Mountain Limited provided an update on the latest assay results the company has received from the Mt Wipi prospect which comprises part of the Wabag Project. Gold mountain has received assay results from three trenches which were excavated within the Kandum - Pully area (Mt Wipi prospect). Results from the trenches have confirmed that this area is prospective for porphyry style mineralisation with these latest results increasing the Company's confidence that the Kandum - Pully area could host a significant porphyry copper-gold deposit. Assay results for an additional three trenches are pending. Assay results have been received from three trenches which were excavated within the Kandum - Pully area. All three trenches intersected copper mineralisation over 0.10% Cu, with the best intercept being recorded in MWTR008 which intersected 52m at 0.32% Cu (from 0 to 52m) including a higher-grade intercept of 17m @ 0.54% Cu from 28m. The mineralisation is disseminated evenly throughout the exposed outcrop which is evident by the consistent copper assay values. Trench MWTR008 was excavated on the eastern bank of Lombali Creek, which drains the central western area of the Kandum- Pully prospect close to the vertical extrapolation of the magnetic low anomaly at Pully which has been postulated to be a potential porphyry intrusive. MWTR008 exposed a 52m zone of highly fractured and bleached clay with chalcocite-malachite mineralisation in structures. The alteration and mineralisation observed could represent the mineralised phyllic zone of a porphyry system. Although mineralisation was open at both ends of MWTR008, it could not be extended along strike due to thick colluvium (overburden) covering the hillside. Upstream of the "phyllic zone" seen in MWTR008 an overlying limestone unit in which chalcopyrite in fractures (to 1% Chalcopyrite) and as veinlets has been observed and mapped in trench MWTR009, indicating the possibility of skarn mineralisation on the contact zone between an intrusive and the carbonaceous limestones. Results for MWTR009 are pending. Gold Mountain's porphyry expert Phil Jones stated: "GMN has returned their best Wabag trench result at the Kandum - Pully prospect, with high grade copper values that includes 52m @ 0.32% Cu and containing a higher-grade zone of 17m @ 0.52% Cu in trench MWTR008. This has significantly upgraded the porphyry copper potential at Mt Wipi which is defined by two strong blind aeromagnetic anomalies which have been highlighted by geological mapping, geochemical and petrological studies previously reported. Board Change • Apr 27
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). Non-Executive Director Syed Alsagoff is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • Feb 08
Gold Mountain Limited Announces Highest Gold Assays to Date At Mt Wipi Prospect Gold Mountain Limited provided an update on assay results from the Mt Wipi drilling program and ongoing regional exploration work. Assays from the third and fourth hole in the drilling program have returned the Company's highest drill hole gold results to date. In addition to this, wide zones of alteration and mineralisation are being observed in the fifth hole which is currently at a depth of 465m. Additional regional exploration work has delivered significant rock chips assays for copper, gold and molybdenum, in conjunction with porphyry pathfinder elements that confirm the presence of a mineralised corridor that extends 17km from Mt Wipi though Sak Creek and into Monoyal. Gold Mountain has completed a total of four holes for at the Mt Wipi prospect, with a fifth hole (MWD005), currently nearing completion. MWD003 intersected a moderate to strongly fractured micro-diorite which contains quartz-magnetite and pyrite veins with chalcopyrite in micro veins and along structures. Narrow gold intercepts were recorded in the top 120m of hole MWD003 and appear to be associated with brittle fractures (i.e. 52-54m at 1.79g/t Au) or localised bleaching and with quartz magnetite, pyrite and trace sulphide veinlets (i.e. between 115-117m which recorded 2m at 3.34g/t Au). Overall, twelve (12) narrow zones of +0.10g/t Au were intersected in the top 120m of MWD003. MWD004 was designed to test beneath Cu-Au intercepts identified in Trench 1, which recorded an upper zone of 14m at 1.47% Cu and a lower zone which recorded 35m at 0.36% Cu. The mineralisation was associated with fault repeats of calc silicates and skarns intruded by a porphyry diorite. High intensity fracturing is associated with these structures and MWD004 intersected 18m of strongly altered calc silicates and skarn style mineralisation from 240m, which assayed @ 0.21g/t Au. This is possibly the down dip extensions of the lower zone. The highest recorded gold value from this 18m zone was 0.62g/t Au from 241m. This is interpreted to be the depth extension of the lower mineralized horizon. The upper horizon was not intersected due to drilling issues and a hole is currently being designed to test this zone. MWD005: MWD005 is currently at a depth of 465m, it was designed to test the elevated copper and gold geochemistry intersected in trench MWTR003. The hole appears to have intersected the first of these zones and is drilling towards the second zone. Regional Exploration: Gold Mountain undertook a detailed and wide spaced rock chip sampling program in the Southwestern part of the Mt Wipi to Monoyal structural corridor primarily within EL2306. A total of 383 rock chip samples were collected, with the aim of identifying prospects for future follow up work. Numerous rock chip samples containing elevated copper, gold, silver, molybdenum, and silver were collected and these data are now being complied and analysed to identify high priority targets. The highest recorded values from this rock chip sampling program are. 37.3g/t Au from LYRC694 with a total of 88 samples recording gold values over 0.10g/t Au and 343g/t Ag from LYRC708, with a total of 45 samples recording values over 10g/t Ag. 13.76% Cu from LYRC636, with a total of 83 samples recording values over 1,000ppm Cu, and 26 samples recording values over 1% Cu: 478ppm Mo from LYRC556, with a total of 24 samples recording values over 50ppm Mo: 20.93% Zn from LYRC571 with a total of 58 samples recording values over 1,000ppm Zn. Announcement • Dec 23
Gold Mountain Limited Provides Update on the Company's Drilling and Regional Exploration Program At Its Wabag Project Gold Mountain Limited provided its shareholders with an update on the company's drilling and regional exploration program at its Wabag Project. GMN initiated a drilling program at the Mt Wipi project which commenced in August 2021 to test targets identified from high grade rock chip samples (up to 9.64% copper, 1.96g/t gold and 100g/t silver), channel samples (including 5m @ 2.57% copper, 0.53g/t gold and 33.56g/t silver) and trenching, including MWTR003, which intersected: 37m @ 0.25% Cu, 0.24g/t Au, and 5.4g/t Ag from 6m, which includes a 22m zone from 9m which assayed 0.32% Cu, 0.38g/t Au, and 7.7g/t Ag 62m @ 0.18% Cu, 0.20g/t Au, and 4.65g/t Ag from 145m, which includes a 26m zone from 145m which assays 0.29g/t Au, 0.28% Cu and 6.7g/t Ag. These zones are being tested by MWD005, which is currently being drilled. As of the 17th of December, four holes (MWD001 to 004 totalling 1,110m) have been completed at the Mt Wipi Prospect with a fifth hole, (MWD005) currently being drilled and is at a depth of 244m. Assay results from MWD001 and 002 both show evidence of strong alteration with associated elevated copper mineralisation to 0.33% Cu in MWD001 over a 1m interval, and gold to 0.31g/t Au, silver to 30g/t Ag and molybdenum to 151ppm intersected in MWD002, again over 1m intervals. All the holes that GMN have drilled to date have encountered alteration associated with sulphides, predominantly in the form of pyrite with trace to 1.0% chalcopyrite intersected in all the holes. Holes MWD001, MWD002 and MWD004 intersected skarn style alteration within highly hornfelsed sediments containing, garnet, diopside, silica, epidote and carbonates associated with pyrite. Hole MWD003 intersected an altered diorite with fracture controlled and micro quartz sulphide veined mineralisation, with chalcopyrite and molybdenum observed. Hole MWD005 exhibits strong alteration and fracturing with pyrite sulphides disseminated in the skarn matrix and in small veins and fractures. Further exploration undertaken concurrently with the drilling has continued to grow the prospective footprint at Mt Wipi with additional skarns and potential porphyry intrusives beingdefined along strike and to the north of the current drilling. Announcement • Nov 29
Gold Mountain Limited Provides Wabag Project Drilling Update Gold Mountain Limited provided its shareholders with an update on the Company's current drilling programme at its Wabag Project, PNG. Drilling commenced at the Mt Wipi prospect in August 20211, and as at 29 November, four holes (MWD001 to MWD004) have been completed for a total of approximately 1,110m. The drill rig is currently in the process of being moved to another site and it is expected that a fifth hole (MWD005) will be completed prior to a break for Christmas and the New Year. All the samples from the first three holes have been transported to the Intertek laboratory in Lae with assays pending. Samples from MWD004 will be dispatched to the laboratory in the first week of December. The Intertek laboratory is experiencing slow turn around of samples due to a shortage of staff Australia wide and more particulary at their Townsville laboratory where the sample pulps from the current drilling programme are sent for multi-element analysis. Once assay results are received Gold Mountain will release them to the market. MWD001 to MWD003 were drilled to test the Northwest copper molybdenum and gold anomaly, where a distinct copper + molybdenum and gold in soil anomaly was identified by a-80 mesh soil programme2 followed up by anomalous results in trench MWTR003. The copper in soil anonmaly has dimensions of 1000m x 500m and contains values up to 0.29% Cu, 0.5 g/t Au and 37ppm Mo. Hole MWD001 intersected oxidised skarn, intruded by various diorites and intermediate dykes and a number of structures. MWD002 intersected a variably altered feldspar diorite interspersed with a strongly calc-silicate altered sediment sequence which contains evidence of skarn mineralisation, and MWD003 intersected a moderately structurally affected quartz feldspar porphyritic diorite. Announcement • Aug 25
Gold Mountain Limited Commences Maiden Diamond Drilling Programme at Highly Prospective Mt Wipi Prospect Gold Mountain Limited announced that the first hole at the Mt Wipi prospect has been collared and drilling has commenced on the Northwest Copper anomaly which is also referred to as Targets 1 and 2. MWD001 is being drilled at the southern end of the Northwest anomaly (Target 2) to test an interpreted buried porphyry system. The Northwest copper anomaly was defined by approximately 11 samples that returned assays in excess of 1,000ppm Cu in soils and a maximum of 2,900ppm Cu, associated with a spot gold high of 0.52g/t Au. Recent excavation of a trench (MWTR003) along the western edge of the anomaly has highlighted a quartz diorite, diorite and quartz feldspar porphyry as well as skarns and hornfelsed sediments with occasional malachite staining evident. Results from the trench are pending. The first hole is testing target 2 of the Northwest Copper anomaly where high levels of copper in soil (+1,000ppm Cu) with anomalous gold, silver, bismuth, and molybdenum were recorded. MWD001 will be drilled to a depth of between 250m to 350m, with the final depth depending on the observed geology in the drillhole. MWD001 is the first in a 6-hole diamond drilling programme totaling 2,000m expected to be completed by December 2021. Announcement • Aug 14
Gold Mountain Limited has completed a Follow-on Equity Offering in the amount of AUD 5.118166 million. Gold Mountain Limited has completed a Follow-on Equity Offering in the amount of AUD 5.118166 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 102,500,000
Price\Range: AUD 0.02
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 153,408,308
Price\Range: AUD 0.02
Transaction Features: Rights Offering Announcement • Jul 15
Gold Mountain Limited Commences of Maiden Diamond Drilling Programme At Mt Wipi Gold Mountain Limited announced that drilling will recommence at its Wabag project in July, with an initial four-hole programme planned for the highly prospective Mt Wipi tenement. The Mt Wipi tenement was granted on the 14th of August 2020. From the date of grant, GMN has undertaken a staged exploration programme on EL2632. This work comprised of a review of the airborne geophysical data for the EL, which resulted in the identification of up to 10 target areas. This was followed by ground checking of these targets and visiting other areas of interest where outcropping copper mineralisation was observed to by local landowners. The Waa Creek area was selected as the priority target, and a systematic exploration programme comprising of stream sediment, rock chip and channel sampling was undertaken. The work culminated in a soil sampling programme which identified copper and gold in soil anomalies. Trench sampling and mapping across the high geochemical anomalies in the target areas is either completed or ongoing to assist in the final siting of drill holes. The work has identified the first three priority targets. Drilling is planned to commence in July with 4 diamond drill holes (with an approximate depth of 250m) planned to test three targets. The targets2 are referred to as: Target 1A: Coincident copper/molybdenum/tungsten/indium anomaly over 800m in length x 250m width and includes target 1B at the southern end of the anomaly, The anomalous geochemistry appears to drape along the western edge of a potassium high in the airborne radiometric data, Additional sampling is required to the North West along strike as well as infill sampling within the anomaly given that >0.1% copper values were returned in the area; Target 1B: Coincident copper/molybdenum/gold/tungsten/indium anomaly at the southern end of that described above for target A, Copper values at this location returned >0.2% Cu and are associated with anomalous gold; Target 2: This is a strong tellurium/copper/gold anomaly with partially coincident tungsten/indium/tin defined along a NE linear feature possibly indicating a base metal/gold vein peripheral to a porphyry system under cover, unlike that at Targets 1A and 1B, The anomaly appears to lie along the North West edge of a potassic anomaly and coincident with a strong magnetic low; Target 3: This shows a strong Copper anomaly which is approximately 5 times the background readings, there is also a moderate indium/molybdenum/gold/tin system at the northern end of a 750 x 250m copper response which drapes over the western edge of a potassic anomaly within a diffuse magnetic high. In addition to the planned drilling programme at Mt Wipi, GMN is continuing the ongoing, soil sampling programme and regional stream sediment and rock chip programs with the soil sampling programme over the Waa Creek area nearing completion. GMN is extending its reconnaissance rock chip and stream sediment sampling programs to other parts of the EL to identify additional targets for drill testing. Announcement • May 21
Gold Mountain Limited Reports Drill Targets Identified at Mt Wipi Gold Mountain Limited updated the market on the progress of its exploration activities on the Mt Wipi prospect at the company's Wabag Project in PNG. Highlights: Mt Wipi (EL2632): Exploration work at Mt Wipi is ongoing with a soil sampling program well
advanced with assay results received for 390 of the 550 soil samples. Strong coherent coincident copper, molybdenum and gold in soil anomalies have been identified at three locations and four drill targets identified. Individual spot highs from the soil programme have returned values to 0.294% Cu and 0.52g/t Au, which are considered highly significant. Trace element porphyry pathfinder elements including tellurium, bismuth, tungsten and tin have also been recorded. Work is now underway to infill the initial 80m x 160m grid to 80m x 80m spacings and to excavate trenches which will traverse these anomalies. Additional wide spaced soil sampling over a larger area will be undertaken to expand the exploration footprint on the Mt Wipi exploration lease. Drilling is expected to start in mid-June at Mt Wipi to test the four initial targets generated by the soil programme. The company's geologists are also extending the reconnaissance programs to
other areas within EL2632 to identify additional targets at Mt Wipi. Mt Wipi (EL2632): Exploration on the Mt Wipi tenement is ongoing, with a soil sampling grid over the Waa Creek area nearing completion. The initial reconnaissance stream sediment sampling programme identified anomalous gold from drainages emanating from a magnetic low feature identified within EL2632 centred on
Waa Creek. Strongly anomalous gold values to 439ppb Au (MWD003) were returned, with other anomalous sites located up to 1.6 km from MWD003 in adjacent drainages (MWD002, 54ppb Au and MWD006, 41ppb Au). The Waa Creek soil grid was designed to cover this area of highly anomalous copper and gold geochemistry and a distinct magnetic low which lies within a well defined structural corridor. A soil programme was designed for this area, which initially comprised a 160m (E-W) by 80m (N-S) soil grid. Approximately 550, -80# soil samples have been collected to date. The soil samples were collected using a hand held auger, with the average depth of the auger hole
being between 1.5m to 2m. The aim of the sampling program is to collect weathered bedrock sitting below the organic soil horizon in order to perform multi-element analysis to identify areas which could potentially host porphyry or skarn depoists. The collection of these
weathered bedrock samples increases the probability that the elements identified in the samples are also contained in the host rock below the sample location. Results for the first 390 soil samples has highlighted 3 anomalous copper-gold areas within the Waa Creek soil grid. The anomalies have been designated. Target 1A: Coincident copper/molebdenum/tungsten/indium anomaly over 800m in length x 250m in width and includes target 1B at the southern end of the anomaly. The anomalous geochemistry appears to drape along the western edge of a potassium high in the airborne radiometric data. Additional sampling is required to the North West along strike as well as infill
sampling within the anomaly given that the >0.1% Cu values were returned in the area. Target 1B: Coincident copper/molybdenum/gold/tungsten/indium anomaly at the southern end of the area described above for Target 1A. Copper values at this location returned >0.2% Cu and is associated with anomalous gold. Target 2: This is a strong telluruim/copper/gold anomaly with partially coincident tungsten/indium/tin defined along a NE linear feature possibly indicating a basemetal/gold vein peripheral to a porphyry system under cover, unlike that
at Targets 1A and 1B - The anomaly appears to lie along the North West edge of a potassic anomaly and coincident with a strong magnetic low. Target 3: This shows a strong Copper annomly which is approximately 5 times the background readings, there is also a moderate indium/molebdenum/gold/tin system at the northern end of a 750m x 250m copper response which drapes over the western edge of a potassic anomaly within a diffuse magnetic high. Announcement • May 14
Gold Mountain Limited Announces to Update the Market on the Progress of Its Exploration Activities At the Company's Wabag Project in Png Gold Mountain Limited announced to update the market on the progress of its exploration activities at the company's Wabag Project in PNG. MCD009 was drilled at the Mongae prospect in January and February 2021. The hole was completed to a depth of 637m and was drilled to test below and along strike of elevated copper geochemistry intersected by hole MCD002, drilled in 2018. The hole was stopped at this depth due to the limited depth capability of the rig combined with adverse ground condition. The map showing the location of MCD009 with respect to the other drill holes at Mongae. The hole intersected the Wale Batholith, in the top 309m of the hole and at sporadic intervals for the rest of the hole. A microdiorite, or a less differentiated phase of the Wale Batholith was intersected in the remainder of the hole. MCD009 intersected widespread, low levels of copper mineralisation throughout the entire hole with associated Mo. Higher grade zones (+0.1% Cu) were intersected throughout the hole with the best intercept being 20m @ 0.18% Cu from 75m. Other intercepts of note are: 21m @ 0.13% Cu and 7ppm Mo from 186m, 13m @ 0.12% Cu and 23 ppm Mo from 363m, 46m @ 0.10% Cu and 39ppm Mo from 410m, 68m @0.10% Cu and 57ppm Mo from 534m. Announcement • May 12
Gold Mountain Limited announced that it expects to receive AUD 2.5 million in funding Gold Mountain Limited (ASX:GMN) announced that it has received commitments for a private placement of 62,500,000 shares at a price of AUD 0.04 each for gross proceeds of AUD 2,500,000 on May 12, 2021. The transaction is expected to close by June 15, 2021. Announcement • May 01
Gold Mountain Limited announced that it expects to receive AUD 1.0635 million in funding Gold Mountain Limited (ASX:GMN) announced a private placement of 26,587,500 common shares at a price of AUD 0.04 each for gross proceeds of AUD 1,063,500 on April 29, 2021. The company will pay proposed fee provision of up to 6% for placement introducers in the transaction. Announcement • Mar 12
Gold Mountain Limited Provides Exploration Update at Its 100% Owned Elk Gold Project Located Near Merritt, BC Gold Mountain Mining Corp. announced initial results from the Company's Phase 1 exploration program at its 100% owned Elk Gold Project located near Merritt, BC. The initial assay results incrementally expand the strike of known mineralized zones beyond the current resource model. The initial gold results from Phase 1 drilling incrementally expand the strike of known mineralization which infills and steps-out from the current resource model. Drill results include the following: SND20-004 intercepted 1.5m averaging 7.3 g/t Au (including 0.30m averaging 21.7 g/t Au). SND20-001 intercepted 1.3m averaging 7.2 g/t Au (including 0.30m averaging 30.5 g/t Au). SND20-020 intercepted 1.3m averaging 5.1 g/t Au (including 0.30m averaging 22.1 g/t Au). Relogging and sampling program uncovered a new vein intercept in historic hole: SND11-132, yielding 1.2m averaging 52.3 g/t Au (including 0.30m averaging 216 g/t Au). Current drilling targets down dip continuations of mineralization. Visual indications from recent diamond core intercepts suggest promise for significant mineralization. Announcement • Mar 09
Gold Mountain Limited Updates the Market on the Progress of Its Exploration Activities at the Wabag Project in PNG Gold Mountain Limited updated the market on the progress of its exploration activities at the company's Wabag Project in PNG. MCD008 was completed to a depth of 684.30m in mid-December 2020. All the assays have now been received from this hole. The results have returned the longest (0.10% Cu) intercept recorded at the Monoyal-Mongae prospect to date with a 175m zone assaying 0.11% Cu and 65ppm Mo, using a 700ppm Cu COG (from 279m). If the Cu COG is reduced to 500ppm Cu, the intercept increases to 240m @ 0.10% Cu and 88ppm Mo, from 279m, which indictes the extent of the mineralisation within the hole. Individual 1m samples within the hole recorded highs of 0.32% Cu (470 to 471m), 3,000ppm Mo (631 to 632m) and 1.68 g/t Au (89m to 90m). MCD008 intersected wide zones of low grade copper mineralisation with associated Mo mineralisation. The molybdenum mineralisation is persistent and extensive with the last 94m of the hole assaying 133ppm Mo. MCD008 was designed to test beneath the highly anomalous Cu and Mo mineralisation intersected in MCD0034 and MCD0045, and it was hoped that this hole would test the core of the porphyry system where higher grade copper mineralisation was postulated to occur. Higher grade zones were not intersected, but long continuous zones of 0.10% Cu were, which are associated with very anomalous Mo mineralisation. The assay results from MCD008 indicates that the Monoyal prospect contains a large low grade porphyry, however to date no economic grade intercepts have been intersected. In light of the results from MCD008, GMN's porphyry expert, Phil Jones has revised the geological model for the Monoyal - Mongae Prospect and now postulates that the Wale Batholith, which has been intersected in holes MCD003 to 008, is an older intrusive which is moderately to weakly mineralised. Phil postulates that "If younger intrusives have cut the Wale Batholith they are more likely to contain increased levels of mineralisation as the copper, molybdenum and gold mineralisation within the Wale Batholith will be remobilised by the younger intrusive and deposited in higher grade pods which could prove to be of economic grade. Ten rock chip samples collected from an initial rock chip sampling programme at Lombokai Creek (eastern area of EL2306) in late 2019 identified skarn mineralisation in outcrops on the northern margins of the Wale Batholith. The outcropping skarns were highly anomalous in gold, copper and silver, an example of a sample from an outcropping skarn at Lombokai Creek is shown in Figure 4. Seven of the ten samples from Lombokai Creek assayed over 0.10% Cu with one sample assaying 10.0% Cu, two other samples recorded 1.36 g/t Au and 73 g/t Ag, respectively. The assay results for these samples were first reported to the ASX in January 20207. In light of the revised model for the Monoyal area, Lombokai Creek is considered a high priority target with recent soil and rock chip sampling covering this area to identify high grade skarn mineralisation which will be targeted by drilling. MCD009 was completed to a depth of 637m. The hole was stopped at this depth due to the limited depth capability of the rig combined with adverse ground condition. The hole intersected the Wale Batholith in the top 309m of the hole and at sporadic intervals for the remainder of the hole. The micro-diorite exhibits strongly potassic alteration (and potentially represents the high temperature core to a mineralised porphyry) compared with holes MCD001 to MCD008, MCD009 appear to contain more magnetite, quartz, epidote and iron pyrite veining than that observed in MCD003-008. Pyrite (~2% to 5%) has been observed in the diorite matrix and in veins and fractures (Figure 7 and Figure 8). Chalcopyrite and molybdenum veins have also been observed, however both of these minerals occur predominatly on fracture surfaces. Chalcopyrite content of the core varies from ~0.3% to 1.0% and molybdenum content ranges from absent to 0.3% molybdenum. Exploration on the Mt Wipi tenement is ongoing with a soil sampling grid over the Waa Creek area nearing completion. The programme has been designed to cover a distinct magnetic low adjacent to a well defined structure. The soil grid covers an area surrounding Waa Creek where previous stream sediment and channel samples returned anomalous copper and gold assays. Announcement • Jan 20
Gold Mountain Limited Announces Significant Results at Mt Wipi Affirm Gold Mountain's Multiple Target Strategy Gold Mountain Limited update the market on the progress of its exploration activities at the company's Wabag Project in PNG. The Wabag Project: the company porphyry copper-gold molybdenum deposits at its Wabag Project in the highly prospective Papuan Mobile Belt (PMB) of Papua New Guinea. The location of the Wabag Project with respect to significant deposits within the PMB. The Wabag Project contains ten Exploration Licences (ELs) which cover an area of approximately 2,775 km2, and which was previously covered by Exploration Licences Applications (ELAs) held by BHP in 2012. The company has identified three distinct copper-gold porphyry targets at the Wabag Project (Mt Wipi, Sak Creek and Monoyal) and as a result of this, the company has developed a multi-target exploration programme to advance these projects. The company's exploration strategy provides the opportunity for a copper-gold discovery at three prospects as well as exploration upside to identify other areas of significant mineralisation within the tenement package. Exploration work has resumed at Mt Wipi and Monoyal after the Christmas break with further work on Sak Creek scheduled to begin in the near future. The locations for the three main areas targets by the company, Mongae-Monoyal, Sak Creek and Mt Wipi. The mineralisation at Mt Wipi, Sak Creek and Monoyal all sit on and are adjacent to prominent NE trending structural lineaments, these lineaments are usually associated with mineral deposits within the PMB, (i.e. Ok Tedi, Mt Kara, and Hidden Valley). Mt Wipi (EL2632) Update: exploration at Mt Wipi is at an early stage. The company applied for this tenement in 2019 as it was located along strike of Sak Creek and the Mongae /Monoyal prospects. The company initiated exploration in the Waa Creek drainage as this was an area that was highlighted as containing copper bearing rocks by the local landowners. After the grant of the tenement, the company undertook an initial reconnaissance sampling programme in and around the Waa Creek drainage identifying copper mineralisation associated with skarns and intrusive. As a result of this initial work, the company followed up the results with channel sampling and mapping. The results of which are presented below. Rock Chip Samples: a total of 28 rock chip samples weighing approximately 3 to 4 kg have been collected to date with EL2632. The rock chip samples were (predominantly outcrop samples collected from the Waa Creek area. These samples have returned copper values to 9.2%, gold to 1.03 g/t and silver to 84 g/t (sample number 152158). Rock chip samples collected in and around Waa Creek within EL2632, and the rock chip samples in and adjacent to the Waa Creek drainage with respect to a distinct magnetic low. In the Waa Creek area, outcrop and float rock samples were selectively collected over a 3 km by 1 km area. The rocks sampled were predominantly associated with mineralised skarns and intrusives. Petrology from two samples collected from Waa Creek identified two different styles of copper-gold mineralisation in the drainage with one sample (152157) being a highly silicified, potassic altered diorite which has been flooded by hydrothermal fluids causing strong pervasive alteration and mineralisation including covellite (supergene after chalcopyrite) chalcopyrite and pyrite. A second petrological sample (152158) was classified as an endoskarn, which contained garnet (38%), epidote (20%) and biotite (10%) with copper minerals such as malachite, chalcopyrite and chysocolla being observed, which is indicative of a shallow weathering profile of the outcropping lithologies. The petrological studies also identified fine-grained native gold (20-40 microns diam.) in sample 152160 and is associated with skarn mineralisation. This sample was also collected from Waa Creek. Channel Samples: On receipt of the rock chip assays and the petrological studies from the Waa Creek area, follow up work in the form of continuous channel sampling along the banks of Waa Creek was undertaken (where possible). The aim of this work was to obtain detailed rock chip geochemistry for the drainage and to geologically map the area. A total of 67 channel samples were collected from outcrops along the banks of Waa Creek. Four highly anomalous Cu-Au-Ag intercepts associated with veining and or structures were recorded, these intercepts are: 5m @ 2.57% Cu, 0.53 g/t Au and 33.56 g/t Ag from 172m; 3m @ 2.51% Cu, 0.54 g/t Au and 27.36 g/t Ag from 163m; 7m @ 0.91% Cu, 0.19 g/t Au and 3.62 g/t Ag from 33m; and 7m @ 0.82% Cu, 0.63 g/t Au and 7.37 g/t Ag from 45m. The channel samples were collected as continuous 1m samples from outcrops along the creek bank with each sample weighing between 3-4kg. Samples were dispatched to Intertek in Lae for sample preparation and analysed for gold (FA50) as well as multi-element analysis (4A/OE). Where possible, sampling was extended into zones either side of the mineralised veins or structures, however, some of the channel sampling ended in mineralisation and could not be extended due to dense foliage, steep topography and, or lack of exposure. Announcement • Dec 30
Gold Mountain Limited announced that it expects to receive AUD 0.8025 million in funding Gold Mountain Limited (ASX:GMN) announced a private placement of 14,590,910 fully paid ordinary shares at a price of AUD 0.055 per share for gross proceeds of AUD 802,500.05 on December 29, 2020. The company expects to close the transaction on December 30, 2020. Announcement • Dec 01
Gold Mountain Limited Announces Executive Director Appointments The Board of Gold Mountain Limited announced that former BHP Project Manager, Tim Cameron has agreed to take on a role among the Company's Executive Directors, effective immediately. Boasting more than three decades of experience in project development and management in various roles throughout Australasia and the Americas, the appointment is a coup for GMN, and will be complementary to his existing role as Chief Executive Officer. The Board recognized that Managing Director, Tony Teng will transition into a new position as an Executive Director. Mr. Teng has played a critical role in guiding GMN through the last six years and has contributed significantly to securing funding for the Company. Announcement • Nov 17
Gold Mountain Limited has completed a Follow-on Equity Offering in the amount of AUD 2 million. Gold Mountain Limited has completed a Follow-on Equity Offering in the amount of AUD 2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 36,363,636
Price\Range: AUD 0.055
Transaction Features: Subsequent Direct Listing Announcement • Nov 16
Gold Mountain Limited announced that it expects to receive AUD 2 million in funding Gold Mountain Limited (ASX:GMN) announced a private placement of 36,363,636 shares at a price of AUD 0.055 per share for gross proceeds of AUD 2,000,000 on November 16, 2020. The transaction will include participation from entities affiliated with Matt Liddy. Announcement • Sep 26
Gold Mountain Limited Announces Outcrop Samples from the Recently Granted Mt Wipi Tenement Highlight the Prospectivity of the Area Gold Mountain Limited announced that exploration activity has commenced on the recently granted and highly prospective Mt Wipi tenement (EL2632). Since the grant of the tenement on the 14th of August, GMN has moved quickly collecting a total of 28 float and outcrop samples from five drainages at the southern end of the tenement. Assay results for these samples are highly encouraging with copper values ranging from 100ppm Cu to 9.64% Cu, gold from 0.01 g/t Au to 1.96 g/t Au and silver from 0.14 g/t Ag to 144 g/t Ag. The samples were part of an initial early reconnaissance programme to determine the prospectively of part of the tenement and investigate areas where the local landowners had informed GMN representatives that they had observed copper mineralization in the creeks. Samples were collected from rocks outcropping in riverbanks or from float samples. Sampling was undertaken in 5 streams that drain the southern part of the EL. Rocks which exhibited veining, fracturing or obvious mineralization were collected. Visible copper was observed in 8 of the 28 samples, occurring either as malachite, chalcopyrite, azurite or bornite.