Brookmount Gold Corp. (Brookmount Explorations, Inc.) Expands Portfolio with a third North American Acquisition in The Atlin Gold Belt, British Columbia, Canada

NEW YORK, April 13, 2023 (GLOBE NEWSWIRE) -- American-listed company Brookmount Gold (Brookmount Explorations, Inc.) (OTC: BMXI) (BMXI.US) a gold mining Company operating in North America and Asia, announced yesterday the acquisition of 70% of a gold mining operation located in the Atlin Gold Belt, in Canada’s North Western British Columbia.

Brookmount, whose shares currently trade in OTC Markets, plans to start exploiting the new facility in the 3^rd quarter of this year.

The acquisition is the consequence of a binding agreement signed on August 30 last year and accordingly announced to the markets. Final acquisition has now been completed following completion of comprehensive due diligence.

The Atlin Project, as it is known internally, covers around 100 hectares and is a historic "hard rock" mine that has a track record of producing valuable minerals. According to the Company’s geologists, “it has substantial room for expansion”.

Atlin has various vein structures on the property, with samples showing assays as high as 1oz (35 grams) per tonne. Based on the developed mine levels, a block of likely ore has been identified on the property, containing approximately 76,000 tonnes with an average grade of 0.17oz (6 grams) of gold per tonne. Currently, this resource is non NI 43-101 compliant, Brookmount will be undertaking the necessary drilling and associated work to bring this resource to a NI 43-101 compliant status. 

"We are pleased to announce the acquisition of this, our third project in North America," said Nils Ollquist, CEO of Brookmount Gold. "This is a strategic investment for us and aligns with our goal of expanding our operations in developed gold markets such as USA, Canada and Australia. We believe that the Atlin project has great potential, and its proximity to our other properties in Canada and Alaska should streamline production, when it comes on stream, and reduce costs associated with gold production."

As consideration for the acquisition, Brookmount will issue 1 million restricted shares to the vendor, along with a cash payment of $25,000. Net profit from operations at the Atlin facility will be distributed 70% by the Company and 30% to the vendor.

The new acquisition in Canada is part of an expansion plan that aligns with Brookmount’s two existing projects in North America, Moosehorn (Canada) and McArthur Creek (USA). The project will facilitate integration of a hard rock mining operation with current alluvial-based projects. Hard rock sites, such as Atlin, generally offer ore grades that are substantially higher than those found in alluvial structures. This is a significant step in the Company’s expansion efforts in North America, as it enhances the value of the Company's gold platform and solidifies its position as a diverse global gold producer.

Founded in 2018, the Company is actively looking to secure additional high-quality gold assets with JORC/NI 43-101 verified resources.

In a recent investors call, Brookmount announced its intention to file for uplisting on the NASDAQ or NYSE American exchange, immediately after the delivery of the 3-year PCAOB audit that is currently being finalized.

Brookmount Gold Corp (Brookmount Explorations, Inc.)

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