Brookmount Gold Corp Announces it has Received Shareholder Approval to Reduce its Authorised Shares

Link: https://www.otcmarkets.com/otcapi/company/dns/news/document/64253/content

NEW YORK, January 17, 2023.- The Board of Directors of OTC-listed Company Brookmount Gold (Brookmount Explorations, Inc.) (OTC: BMXI) (BMXI.US) is pleased to announce today that it has received shareholder approval for the reduction of authorized shares from 2 billion to 200 million.

This initiative, foreshadowed in recent communications from The Company, was considered a key move in adjusting The Company's capital structure in preparation for a possible transition to listing on a senior exchange. In seeking the reduction to 200 million shares, the Board considered the projected ongoing capital commitments of The Company as it potentially moves through the listing process and beyond.

We are confident that this reduction in authorised shares will bring our Company's capital structure more in line with that of a medium sized listed company and simultaneously provide for the projected capital requirements arising from the anticipated launch of operations in our Canada and Alaska based facilities." Commented Nils Ollquist, CEO of Brookmount Gold.

The anticipated change will become effective following the completion of the necessary documentation with the Secretary of State of Nevada. The Company will provide an official update on this process shortly.

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

loannis Petratos

ir@bmxigold.com

www.brookmountgold.com

https://www.otcmarkets.com/stock/BMXI

Corporate

corporate@brookmountgold.com