Brookmount Gold Corp Reports Financial Results for Q2 2023

Link:https://www.otcmarkets.com/otcapi/company/dns/news/document/68159/content

NEW YORK, Jul. 20, 2023 - Brookmount Gold (Brookmount Explorations, Inc.) (OTC: BMXI) (BMXI.US), a gold exploration and development company, today announced its financial results for the second quarter ending in May 31, 2023, reporting a 15.6% in Net Profit Increase and a Strong Net Asset Growth to $35.768 million, a 37.1% increase over the same period last year.

The company has a diverse portfolio of exploration and production assets in gold projects across Indonesia, Canada and the United States.

During Q2 2023, the Company recorded a Net Profit of $2.207 million, with a year-over-year increase of 15.6%, while the sales reached $4.625 million, a 0.9% increase over the first quarter.

Exchange rate fluctuations proved to be a significant factor impacting sales during the quarter.

However, the Company experienced favourable gold price levels, supporting the sales of gold.

Brookmount Gold also reported a substantial increase in net assets, reflecting a growth rate of 37.1% compared to the same quarter last year, while total liabilities reduced by 33.3% to $1.301 million.

The strong result can be attributed to the continued exploration and development of its existing assets. The Company announced last month the kickstart of its North American gold production initiative at its expansive 330-acre McArthur Creek placer gold property in Alaska.

"We are thrilled with the outstanding results we achieved in the second quarter," said Nils Ollquist, CEO, and Executive Director of Brookmount Gold. "This exceptional financial performance is a testament to the dedication and hard work of the entire Brookmount team."

Founded in 2018, Brookmount Gold is a high-growth gold-producing company incorporated and quoted on OTC Markets in the United States, with operating gold mines in Southeast Asia and exploration and production assets in North America. The Company recently announced the commencement of gold production operations at the Alaskan McArthur Creek property.

ir@bmxigold.com

www.brookmountgold.com

Corporate

corporate@brookmountgold.com

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