Brookmount Gold Announces Strong Q1 2024 Results

Link:https://www.otcmarkets.com/otcapi/company/dns/news/document/73959/content

Reno, NV, Apr 15, 2024 / OTC Disclosure & News Service / - Brookmount Gold (OTC: BMXI) today announced strong operating results for Q1 2024, with sales of $4.7 million in Q1 2024 vs. $4.5 million in Q1 2023, an increase of 4% over the prior year period. Net Income was $2.8 million for Q1 2024, vs. $2.5 million for Q1 2023, an increase of 12% over the prior year period.

"We are excited about our continued positive operating results from our Talawaan operation and look forward to getting our second and very profitable Alason property (also in North Sulawesi) back into production very soon", commented CEO, Nils Ollquist. "With the gold price recently reaching all-time highs at $2,400 an ounce, we remain solidly optimistic about Brookmount's operating revenue growth and subsequent continuation of strong profits going forward."

Ollquist continued, "There are important milestones to note in the near-term for Brookmount, which we anticipate coming to fruition in the next 60-90 days. Firstly, we recently contracted with the Hall Chadwick Group (based in Sydney, AUS) and Accell Audit & Compliance (based in Florida, USA) to complete our 3-Year PCAOB Audit, with a site visit to Talawaan scheduled for April 20th ', 2024. Errin Kimball, Global Director of Operations at Brookmount, and myself will be present to help facilitate the visit and coordinate with the auditor. Additionally, Errin will be conducting geological diligence to derive an understanding of the value of the recently discovered high-yield gold seam on the perimeter of the Talawaan property. Secondly, we've reached an agreement in-principle to purchase the Talawaan Mining Operations from our Joint-Venture Partner, with a closing date set for June 30, 2024. We are excited to take-over operations at the Talawaan mine and convert the operation from an investment to a wholly owned and controlled operational unit of Brookmount."

Ollquist concluded, "We appreciate our shareholders continued dedication to our vision of becoming a world-class gold mining company and look forward to bringing you positive updates toward that vision very soon."

Safe Harbor Statements: Except for the historical information contained herein, certain of the matters discussed in this communication constitute "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995. Words such as "may," "might," "will," "should," "could," "anticipate," "estimate," "expect," "predict," "project," "future," "potential," "intend," "seek to," "plan," "assume," "believe," "target," "forecast," "goal," "objective," "continue" or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding benefits of the proposed license, expected synergies, anticipated future financial and operating performance and results, including estimates of growth. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. For example, the expected timing and likelihood of completion of the pending transaction, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the pending transaction that could reduce anticipated benefits or cause the parties to abandon the transaction, the ability to successfully integrate the businesses, the occurrence of any event, change or other circumstance that could give rise to the termination of the negotiations, the risk that the parties may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the proposed transaction, the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of Brookmount's common stock. All such factors are difficult to predict and are beyond our control. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this report, except as required by applicable law or regulations.

Investor Relations Contact:

Brookmount Explorations, Inc. (Brookmount Gold) & FastPitch IR

brookmountgold@fastpitchir.com

Brookmount Gold

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