TSX-V TRADING SYMBOL: GUM
Website:
aumtn.com
VANCOUVER, Nov. 4, 2015 /CNW/ - Gold Mountain Mining
Corporation (the "Company" or "Gold Mountain") is pleased to
announce that it has received an effluent discharge permit from the
BC Ministry of Environment for its 100% owned Elk Gold property,
located near Merritt, British
Columbia.
The effluent discharge permit allows the company to passively
release to the environment ground and rain water that accumulates
in the two bulk sample pits. The permit specifies the location and
frequency of water quality and other sampling that will continue to
ensure the water leaving the mine area remain within BC water
quality guidelines for the protection of aquatic life. Sample
results are reported to the Ministry of Environment. Gold Mountain
is committed to protecting the environment and ensuring that its
operations do not harm aquatic or land based life and has
proactively implemented progressive reclamation of lands disturbed
by exploration and mining to date.
Receipt of the discharge permit is one step in the process to
put the property into commercial production that speaks to the
relatively environmentally benign nature of the gold mineralization
and enclosing wall rock.
The existing Bulk Sample Permit allows the extraction of 4,000
banked cubic meters of mineralized material. Currently, 2,440 cubic
meters have been removed, leaving a permitted allowance of another
1560 cubic meters. An evaluation of the economics to mine
mineralized material along strike between the old and new pits was
completed and the level of risk associated with uncertainty
surrounding the weaker gold commodity price was deemed to be too
high. As a result the property has been placed on care and
maintenance.
The Company's Environmental Consultant, Marlin Murphy, P. Ag., EP, 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