Brookmount Gold Reports on Progress of Corporate Restructuring

Link:https://www.otcmarkets.com/otcapi/company/dns/news/document/72063/content

Reno NV, January 16, 2024.- The Board of Directors of OTC-traded company Brookmount Gold (Brookmount Explorations, Inc.) (OTC: BMXI) (BMXI.US) is pleased to update shareholders on the progress of the corporate restructuring announced last week. The Company is now close to finalizing the acquisition of a controlling interest in an OTC listed company, which previously had activities in renewable energy technology and, importantly, has access to gold mining assets in the US, which could be acquired and brought onstream as an important complement to existing assets in Alaska and Canada.

The Company proposes to cover a portion of the $175,000 cash cost of the acquisition with cash received as part of the initial tranche of funds to be remitted to the Company's bank account in the US later this month, from the Joint Venture in Talawaan, Indonesia, the restructuring of which was completed late last year. Closing of the acquisition is anticipated by the end of February, immediately following which, steps will be taken to seek the necessary regulatory approvals for the planned special dividend to shareholders as set out in The Company's press release last week.

The Board is pleased with the progress of the restructuring announced last week." commented Nils Ollquist, CEO of Brookmount. "We are particularly pleased that, following the renegotiation of our Joint Venture Agreement in Indonesia, we can begin to utilise some of the cash flow generated from our Talawaan operations in pursuing expansion of our business interests in the US. It is also opportune that the OTC listed company has access to a number of attractive gold mining assets, including one property for which NR43-101 certification of reserve value is currently being sought.

We will continue to update our shareholders as we progress towards finalisation of the restructuring".

Mr Ollquist concluded.

Brookmount Gold is an American-listed Company operating gold mines in Southeast Asia and owning 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 Brookmounts 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