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Brookmount Gold Announces Buyout of Joint Venture Partner and Associated Terms

By: Newsfile

Reno, Nevada--(Newsfile Corp. - July 2, 2024) - The Board of Directors of Brookmount Gold (OTC Pink: BMXI) is pleased to announce that a definitive agreement for the acquisition of 100% ownership and control of The Company's operations in Talawaan has now been signed. "This is a significant milestone for Brookmount Gold and lays the groundwork for our future," commented CEO Nils Ollquist. "Whilst the agreement will facilitate full management control of the Talawaan operation by the Company, including the cash generated therefrom, the Company will continue to maintain a close and effective relationship with our long-term partners, including payment of a 25% royalty on net earnings generated by the operation."

Mr. Ollquist continued: "From here, we will utilize our industry expertise and the experience of Chief Geologist Errin Kimball to "prove-up" reserves and increase production. With operational control, we now have the right to explore and exploit the 50-hectare property, including implementing a drilling program to carry the balance of provable reserves on our financial statements, while also guiding future gold exploitation."

Further details on the terms of the Acquisition will be uploaded onto the Company's website shortly.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/6707/215205_f7b0fa4af49059b2_001.jpg

Brookmount Gold Investor Relations Contact:
FastPitch IR
brookmountgold@fastpitchir.com
(312) 999-0187
Brookmount Gold Website: https://brookmountgold.com
Brookmount Gold X Profile: https://x.com/brookmountgold

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215205

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