Brookmount Gold Corp. Announces Corporate Restructuring & Special Dividend to Shareholders

Link:https://www.otcmarkets.com/otcapi/company/dns/news/document/71891/content

NEW YORK, January 10, 2024.- The Board of Directors of OTC-traded company Brookmount Gold (Brookmount Explorations, Inc.) (OTC: BMXI) (BMXI.US) is pleased to announce today that it has commenced implementation of a restructuring of the Company's operations. Pursuant to this restructuring, The Company will inject its North American production assets in Canada and Alaska into a second US based, publicly traded company ("Newco"), with shares in Newco to be ultimately distributed as a special dividend to The Company's existing shareholders in proportion to their existing shareholdings in Brookmount. This initiative has been taken as a means to extract maximum shareholder value for the North American assets (Yukon in Canada and MacArthur Creek and Atlin in Alaska). The planned restructuring of these assets in a separate entity will streamline the path to production status and enhance financing capability. The Indonesian assets of The Company, comprising the Talawaan and Alason operations will remain in Brookmount. Completion of the restructuring plan will be contingent on the finalisation of proper definitive agreements with the OTC traded company for the transaction, and the fulfillment of applicable regulatory requirements in connection with the planned share dividend.

As part of the ongoing strategy relating to the Indonesian assets, heapleaching operations will be

"rebooted" (recommenced), at the Alason property in February as a new "BOT" (build, operate, transfer) operating agreement has been signed with our former (pre Covid) Chinese partner at the site, and partial repatriation of cash flow generated from the Talawaan operation will come onstream later in January, in accordance with the restructured dividend policy of the Joint Venture.

Additionally, The Company's Management has determined that, following the closing out of the books for the 2023 financial year, the ongoing audit will be broadened to include this latest year of what will be a full 3 year audit of the most up to date financial statements for inclusion in filings relating to future uplisting and capital raising plans.

As a key component of its asset restructuring plan, the Company will acquire a controlling interest in an OTC quoted company for cash and stock. Following closing of the planned acquisition, anticipated next month, the OTC company will be renamed North American Gold Corp., with a majority of directors to be provided by the Company, and Errin Kimball, currently Operations Director for North America, appointed as CEO. All shares acquired by the Company in the new OTC company, both now and in the future, will be distributed by way of special dividend to the existing shareholders of Brookmount in proportion to their existing shareholding in The Company..

"I am very pleased, that after many months of intense effort, our team has been able to deliver on a strategy to extract maximum value from our hard won portfolio of gold assets in Asia and North America," commented Nils Ollquist, CEO. Mr Ollquist continued: "Our shareholders have shown great resilience and patience as we slowly developed the building blocks for a global gold production platform. With many years of experience in the global mining and extraction industries to its credit, The Board believes that the planned spin off and listing of our North American assets, together with a renewed focus on improvement and expansion of our Asian properties, will deliver the best possible outcome and maximum profits for our shareholders who will ultimately hold shares in 2 individual entities with a presence in the worlds most significant gold markets."

Brookmount Gold is an American-listed Company operating gold mines in Southeast Asia and exploration and production assets in North America.

Founded in 2017, Brookmount Gold is a high-growth gold-producing Company incorporated and listed in the United States. The Company is actively looking to secure additional high-quality gold assets with JORC/NI 43-101 verified reserves.

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.

Brookmount Gold Corp (Brookmount Explorations, Inc.)

Investor Relations

ir@bmxigold.com

www.brookmountgold.com