Brookmount Gold Corp. Reports Financial Results

Link: https://www.otcmarkets.com/stock/BMXI/news/Brookmount-Gold-Corp-Reports-Financial-Results?id=365367

BROOKMOUNT GOLD CORPORATION.

Brookmount Gold Corp. Reports Financial Results

Los Angeles, California--(Newsfile Corp. July 15, 2022) - Brookmount Gold Corp. (OTC PINK: BMXI) ("Brookmount"), a Nevada incorporated company is pleased to provide this update to shareholders on its operational and financial progress.

Key Points:

46% Increase in Net Profit for the comparable period in the prior year

43% Increase in Revenue for the comparable period in the prior year

Net Profit of $1.9 million

Revenue $4.6 million

Total Assets increased to $26 million

Proceeding with the acquisition on the Alaska (US) side of the Tintina Gold Belt

The Company recently filed its first quarter financial results for the quarter ended 5/31/2022. Highlights included:

The Company continued to record strong operating results during the first quarter, with net profit of $1.9 million, for the 3 months to 5/31/2022, compared with $1.3 million for the comparable period in the prior year, an increase of 46%. Revenue for the quarter was $4.6 million, up by 43% over the corresponding period in 2021.

This sustained strength in operating performance reflected continuing improvements at the Companys Talawaan operations, where, in addition to continuing to extract and process ore from high grade seams running across the property, significant upgrades were carried out during the period, with construction of additional processing and crushing capacity and additional reserve acreage acquired.

Total Assets increased to $26 million from $22 million at 9/30/2021 while shareholders funds increased to $24mm from $21 million over the same period.

The Company continued to make good progress both in our operating results and our expansion initiatives, where we are now moving forward with an acquisition on the Alaska (US) side of the Tintina Gold Belt, commented Nils Ollquist, CEO.

We will continue to pursue new opportunities for expansion of our precious metals platform including the purchase of additional properties both in North America and Australia. Mr Ollquist concluded: Following the recent upheaval in the cryptocurrency market, opportunities are evolving for precious metals producers such as BMXI, to partner with companies in the Blockchain arena. This is an area we are currently exploring with a number of significant players and we will continue to update our shareholders and followers as we move forward with this initiative.

Brookmount currently conducts its gold mining and processing operations through its Indonesian subsidiary incorporated in Sulawesi Province, Republic of Indonesia, one of Asia most dynamic and rapidly expanding economies with extensive reserves of natural resources and minerals including timber, coal, gold and hydrocarbons. The Company has also acquired a significant gold resource in the Yukon, Canada area of the Tintina Gold Belt and is actively expanding its North American investment platform.

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.

For more information:
Brokers and Analysts
Chesapeake Group
info@chesapeakegp.com
410-825-3930

Brookmount Gold Corp
Tel: 213.266.7661
bmxicorporate@gmail.com