VANCOUVER, Sept. 10, 2013 /CNW/ - Gold Mountain Mining Corporation (the "Company" or "Gold Mountain") has partially completed the 2013 exploration program on its 100% owned Elk Gold property, located near Merritt, British Columbia.
Drilling on the property is currently ongoing with the targets on several deep IP anomalies south of the existing bulk sample pit. The targets have been chosen based on the IP work performed from 2010 through 2012 as well as the Titan IP survey completed in 2011. Samples will be sent for assay and results will be released upon completion of the analysis.
Drilling to the west of the existing pit will take place at the end of the drill program. The purpose of this drilling is to complete the required condemnation drilling on the proposed waste rock storage facility for the amendment to the existing mine permit.
Additional on-going work on the property this season includes geologic mapping, soil sampling and prospecting in the southern claims where in 2012 a new mineralized zone was discovered from which a grab sample yielded assay results of 7.36% copper, 226 g/t silver, 0.24% zinc and 0.38% lead. Results of this program will be released upon completion of the analysis.
The Company's Senior Geologist, Robert Wilson, P.Geo., acts as the Company's Qualified Person for technical disclosure per National Instrument 43-101, and has reviewed and approved the technical content of this press release.
About Gold Mountain Mining
Gold Mountain is a public resource company managed by an experienced team of professionals with a solid track record of exploration and development success. The Company owns 100% of the 16,700 hectare Elk Gold property, which the Company intends to develop into a precious metal producer within the next two years, and is also seeking additional near-term production assets to further build shareholder value. Additional information is available on Sedar.com or on the Company's website at www.aumtn.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.
ON BEHALF OF THE BOARD
"Chris McLeod" (signed)
Chris McLeod, President & CEO
Forward-Looking Statements: This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the closing of further tranches of the Offering, the use of proceeds from the Offering and the Company's plans with respect to the exploration and development of its projects. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE: Gold Mountain Mining Corporation
For further information:
Chris McLeod, President & CEO or Rod Shier, Chief Financial Officer at 604 558-4653