The Elk Gold Project

THE ELK GOLD PROJECT

@goldmtnmine_

/goldmountainmine

/company/goldmountainmine

@goldmountainmine_ JANUARY 2021 CAUTIONARY NOTE

Disclaimer

The information in this Presentation is provided in summary form and does not purport to be complete.

Recipients of this Presentation who are considering acquiring securities of Gold Mountain Mining Corp. (“Gold Mountain”) are reminded that any such purchase or subscription must not be made solely on the basis of the information contained in this Presentation but are referred to the entire body of publicly disclosed information regarding Gold Mountain and the entirety of any agreements, term sheets and other disclosure which is provided in connection with any such acquisition of securities, and any other information being furnished to the investor. This Presentation is not intended to be, nor should it be, relied upon as advice to investors or potential investors and does not take into account the investment objectives, ﬁnancial condition or needs of any particular investor. These should be considered, with or without professional advice, when deciding if an investment is appropriate.

Gold Mountain does not guarantee the accuracy or completeness of such information. Statements in this document are made as of the date of this document unless stated otherwise, and neither the delivery of this document at any time, nor any sale hereunder, shall under any circumstances create an implication that the information contained herein is correct as of any subsequent date.

Neither the issue of this Presentation nor any part of its contents is to be taken as any form of contract, commitment or recommendation on the part of Gold Mountain or the directors of the Company to proceed with any transaction or accept any offer and the right is reserved to terminate any discussions or negotiations with any prospective investors. Gold Mountain reserves the right without any notice or liability to the recipient of this Presentation or its advisers to: (i) change any of the procedures, timetable or requirements or terminate negotiations at any time prior to the signing of any binding agreement with investors; (ii) provide different information or access to information to different persons; (iii) agree variations to the property, rights and liabilities; and (iv) to negotiate at the same time with more than one person.

CAUTIONARY NOTE TO U.S. INVESTORS CONCERNING ESTIMATES OF MEASURED, INDICATED AND INFERRED RESOURCES This Presentation uses the terms “Measured”, “Indicated” and “Inferred” Mineral Resources as deﬁned in accordance with Canadian National Instrument 43-101. United States readers are advised that while such terms are recognized and required by Canadian securities laws, the United States Securities and Exchange Commission does not recognize them. Under United States standards, mineralization may not be classiﬁed as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve calculation is made. United States readers are cautioned not to assume that all or any part of the mineral deposits in these categories will ever be converted into reserves. In addition, “Inferred Resources” have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Resource will ever be upgraded to a higher category. United States readers are also cautioned not to assume that all or any part of an Inferred Resource exists, or is economically or legally mineable.

Industry and Market Data

This Presentation includes market and industry data and forecasts that were obtained from third-party sources, industry publications and publicly available information. Third-party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of included information. Although management believes it to be reliable, Gold Mountain has not independently veriﬁed any of the data from third-party sources referred to in this presentation, or analyzed or veriﬁed the underlying studies or surveys relied upon or referred to by such sources, or ascertained the underlying economic assumptions relied upon by such sources.

2 FORWARD LOOKING STATEMENTS DISCLAIMER

Certain statements contained in this presentation, including information as to the future performance of Gold Mountain (“Gold Mountain”) or the combined entity (the “Resulting Issuer”) constitute forward looking information. This includes but is not limited to certain information on the Elk Gold Project. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements include, among other things, the following: obtaining a mine permit amendment in Q2 2021, commissioning a 70,000 tpa mining operation in Q4 2021, receiving ﬁnal government approval to increase the mining operation to 324,000 tpa by Q3 2024, obtaining an environmental assessment certiﬁcate required for a 324,000 tpa operation, acquiring the mine permit needed for a 324,000 tpa, phase 1 of the exploration program being in Q1 2021, completing an update to the preliminary economic assessment in Q2 2021, beginning a second phase of exploration in Q4 2021, statements regarding the range of mineral resource and grade on all exploration targets, estimates and assumptions in respect to pricing, capital expenditures and operating costs, the anticipated results of any drill program, including that such drill programs will increase the size of the mineral resource and the ability of GOld Mountain to enter into a toll milling agreement in the near term and to construct a mill on site by year 4 of production.

Forward-looking statements are necessarily based on a number of estimates and assumptions related to future business, economic, regulatory, market, political, social and other conditions that, while considered reasonable by Gold Mountain, are inherently subject to significant uncertainties and contingencies, including timely completion of government regulatory review of the current mine permit amendment and future permit requirements for production scenarios, completion of consultations with First Nations in a reasonable timeframe, the ability to obtain additional financing to fund its operations and expansions, the ability to source proper equipment, the continued availability of staff, obtaining the environmental assessment certificate and the mine permit required to expand to 324,000 tpa, obtaining all necessary ancillary permits, negotiating an agreement for toll milling to treat ore for years 1-3, the ability to finance a new mill onsite, economic assumptions set out in the PEA will remain valid. For forward looking information related to exploration assumes: that the intercepts of the drill programs will continue to show the anticipated gold mineralization required to delineate a mineral resource, availability of funding to execute such programs, availability of the permits and authorizations necessary to conduct the drill programs. In assessing the reasonableness of the Forward Looking Statements, management is also relying on the information and conclusions in the Technical Report entitled “NI 43-101 Technical Report Preliminary Economic Assessment on the Elk Gold Project. Merritt, British Columbia” dated September 21, 2020 with an effective date of July 3, 2020 (the “Technical Report”) a copy of which is available on Gold Mountain’s SEDAR profile at www.sedar.com. All forward looking statements assume that the Gold Mountain will continue to make the payments due to Equinox Gold Corp. in order to maintain ownership of the Elk Gold Project.

Many known and unknown factors could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements, including any of the assumptions not coming to fruition. Such risks include, but are not limited to risks relating to: the construction and start up of new mines; nature of mineral exploration, development and operations; volatility of commodity prices; title matters; insurance and uninsured risks; environmental hazards; permitting risks; infrastructure; competition for exploration, development and operation rights; uncertainty and inherent sample variability; reliability and uncertainty of mineral resource estimates; government regulation; operational labour and employment matters; uncertainty and inherent sample variability; community relationships; impact of pandemic disease on global economic conditions and economic performance; production estimates; cost estimates; reclamation costs; transaction risks; liquidity and availability of additional financing; no earnings history; attracting and retaining talented personnel and possible conflicts of interest of directors and officers.

Gold Mountain disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information or future events, except as required by applicable law.

To the extent any forward-looking statements in this Presentation constitute "future-oriented financial information" or "financial outlooks" within the meaning of applicable securities laws, such information is being provided to demonstrate the anticipated market access and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking information generally, are, without limitation, based on the assumptions and subject to the risks set out above. The actual financial position and results of operations may differ materially from management's current expectations and, as a result, revenue and profitability may differ materially from the revenue and profitability profiles provided in this Presentation. Such information is presented for illustrative purposes only and may not be an indication of actual financial position or results of operations.

Gold Mountain disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information or future events. All forward-looking statements made in this presentation are qualified by the foregoing cautionary statements and may be impacted by the risks set out in the Appendix to this presentation. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly, should not put undue reliance on such statements. Investors should not make an investment decision prior to reading and considering: a) this disclaimer; b) all information and risk factors set out in the Appendix to this presentation; and c) the Technical Report on the Elk Gold Project, a copy of which is has been filed on Gold Mountain’s SEDAR profile at www.sedar.com.

Qualified Person Grant Carlson, P. Eng, Bayshore’s Chief Operating Officer and a qualified person as defined in National Instrument 43-101, has reviewed and approved the technical information contained herein.

3 LEADERSHIP

Entrepreneur with experience across a host of industries. CPA, CBV - Experienced metals and mining executive – Mr. Smith has extensive experience in organizing finance President and CEO of Azarga Uranium Corp (AZZ.TO) and KEVIN SMITH and construction of commercial and industrial development BLAKE STEELE Director of Azarga Metals Corp. (AZR.v) Formerly Director CEO / Director projects. Mr. Smith is currently the CEO/Director of Gold Independent Director of Finance of SouthGobi Resources (1878.HK) (Ivanhoe Mountain (GMTN) and Polarity Minerals. Mines Group).

P.Eng, MBA - Mining Engineer with 30 years experience. P.Eng, MBA - COO for Rover Metals, Mining Engineer with Currently Senior Vice President-Business Development, RONALD WOO over 20 years experience. Previously: Project Manager for KEITH MINTY Stope Capital Advisors. Formerly Director of Asanko Gold President Ledcor; Technical Services Manager for Western Coal Corp, Independent Director (AKG.NYSE) and Auryn Resources Inc. (AUG.TO). Northern Senior Mine Engineer for Hunter Dickinson. Miner’s Mining Man of the Year recipient in 2000. Director of FenixOro Gold (FENX.CN)

President, CEO and Director of Centurion Minerals Ltd. B.A., CPA, CA - Mr. Hobbs is a professional accountant with (CTN.v) Over 30 years of corporate structuring, strategic 7 years experience. Former Manager at BDO Canada LLP. planning, financing and management experience. CEO and BRAYDON HOBBS Previously with Woodbridge Homes as Director of Finance DAVID TAFEL Director of Portofino Resources (POR.v) and Gold Mountain CFO and with Deloitte UK LLP as Manager in Assurance - Private Independent Director (GMTN) Markets.

P.Eng - Mining Engineer with over 15 years experience, President of HJFC Corporate Development Inc. which GRANT CARLSON Previously Consultant with SRK and Mining Engineer with HOWARD JONES sources and structures private transactions. Former Vice COO Taseko Mines Ltd. Independent Director President of Corporate Development for Pembina Pipeline Ltd. Director of Gold Mountain (GMTN)

BA., LLB - Corporate and Securities Lawyer with over 15 PhD. P.GEO. - CEO and Director of Pacific Ridge Exploration ALEXANDER BAYER years in the capital markets. Extensive experience as Ltd. (PEX.V) and Director Almaden Minerals (AMM.TO). He is director and officer with mining companies operating at all GERALD CARLSON General Counsel & a past President of AMEBC and President of the Society of stages of development. Principal of Bayer Law Corporation. Director Corporate Secretary Economic Geologists Canada Foundation. Former Director of Azarga Uranium (AZZ.TO).

LLB - Chairman of K92 Mining Inc. (KNT.v). Formerly Chairman of Nevsun Resources Ltd. Chairman of San Marco MBA, AA, P.Eng. - Executive Chairman of Prime Mining Corp. TOOKIE ANGUS Resources (SMN.v) and previous Managing Director of DANIEL KUNZ (PRYM.v). Director of Silver Bull Resources (SVB.TO). Former Endeavor Mining (EDV.TO). Over 40 years of experience President/COO of Ivanhoe Mines Ltd. (IVN.TO) Mr. Kunz is Advisor structuring and financing mining ventures. Will provide Advisor credited with discovering and expanding the Oyu Tolgoi guidance to management on finance, mergers and Deposit. Will support on the exploration of Elk Project. acquisitions. 4 KEY THEMES

Elk Gold

PROPERTY MINERAL RESOURCE / PEA EXPLORATION

▪ Listing on TSXV under symbol “GMTN” ▪ NI 43-101 mineral resource: ▪ Abundant opportunities for major 1 ▪ GMTN owns 100% interest of the Elk ○ Measure and Indicated : discoveries: Elk Gold mineral resource 454,000 AuEq ounces at 5.33 g/t AuEq Gold Project in the Merritt area of British 1 remains open in both directions along ○ Inferred : strike and down-dip and there are 8 other Columbia, Canada 95,000 AuEq Ounces at 6.57g/t AuEq ▪ 2 km from all-season highway and the ▪ PEA contemplates a 50,000 ounce per established gold zones with drill results Elkhart Lodge - commercial card lock year mine plan by Year 4 that indicate additional potential for gas station, diner and motel ▪ PEA results in a Post-Tax NPV (5%) of discovery 2 ▪ Elk Gold Property is a massive 16,716 $191M @ US$1,600 long term gold price ▪ Multi-phase $3M multi-phase drill 2 hectares (41,306 acres) land package ▪ Low Op Ex / Cap Ex program to delineate further mineral ▪ The Elk Gold Project is a past producing ▪ CA$6.9M Startup CapEx resources and add to exploration targets ▪ CA$26M Expansion CapEx high grade Gold Mine ▪ Current exploration targets from existing ▪ AISC US$735/oz ▪ 127,069m of historic drilling, extensive drilling data show potential for increased geochemical and geophysics programs mineral resources ▪ Exploration objective to deﬁne additional open-pit amenable, high-grade gold.

1 Measured and Indicated Resource of 2,699,000 tonnes at 5.33g/t AuEq and Inferred Resource of 454,000 tonnes at 6.57g/t AuEq. See “Appendix: Mineral Resources” 1 The mineral resource estimate is effective July 3, 2020. Mineral resources that are not mineral reserves do not have demonstrated economic viability. See “Appendix: Mineral Resources and Appendix: Preliminary Economic Assessment” 2 The results from the PEA are preliminary in nature and include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the preliminary economic assessment will be realized. See “Appendix: Preliminary Economic Assessment and Appendix: Life of Mine Annual Cash Flow Summary” for details 5 $2,200 Permit CAPITALIZATION, HISTORY AND MILESTONES Acquired Submission by GMMC $2,000

GOLD PRICE (USD) Equinox $1,800 acquires Elk Gold Project $1,600

Capital Structure $1,400 Shares Outstanding 48,972,978 $1,200

$1,000 Options 3,648,853

$800 Warrants 2,889,340 Bayshore purchases Discovered Mined 51k Au oz Elk Gold Project $600 Fully Diluted 55,511,171 from Equinox for $10M $400

$200 1985 1990 1995 2000 2005 2010 2015 2020 2021

2019 Q1 2020 Q4 2020 Q4 2021 Q1 2021 Q2 2021 Q2 2021 Q4 2024 Q3

FREEFORM GOLD GOLD MINERAL GOLD GOLD MOUNTAIN 50,000 OZ / Y BAYSHORE QUALIFYING MOUNTAIN MOUNTAIN RESOURCE / MOUNTAIN MINING EA & MINE MINERALS TRANSACTION TRADES EXPLORATION PEA UPDATE PERMIT OPERATIONS PERMIT*

Bayshore Freeform acquires Gold Mountain $1.5M Phase 1 Update mineral Final decision on Commission Elk Final decision purchases from Bayshore to create resumes trading on Diamond Drill resource model to permit expected Gold Mining on Certificate Equinox for Gold Mountain TSXV under the Program include 2020/Q4 from Government start up expected from $10M Mining Corp. symbol GMTN drill results Government

*The results from the PEA are preliminary in nature and include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the preliminary economic assessment will be realized. See “Appendix: Preliminary Economic Assessment and Appendix: Life of Mine Annual Cash Flow Summary” for details 6 PATH TO PRODUCTION: 2020 PEA STUDY SUMMARY*

NPV (5%) Mine Life AISC Expansion Capital Cost CAD$ 191 million 10 Years US$ 735 / oz CAD$ 26 million @ 5% discount rate Open Pit CA$ 993 / oz Yr 3, 50k ounces per year mill *Long-term gold price $1,600

LOM AuEq Head Grade Annual Production Initial Capital Cost Payback Period 5.33 g/t 50,000 oz/yr CAD$ 6.9 million 6 months 92% gold recovery Avg. yrs 4-10 Based on Toll Milling yr 1-3 From start of production NPV ($M) NPV ($M)

GOLD PRICE ($US/tOZ) PERCENT CHANGE (%)

* The results from the PEA are preliminary in nature and include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the preliminary economic assessment will be realized. See “Appendix: Preliminary Economic Assessment” for details * See “Appendix: Mineral Resource” for inputs into head grade * AISC means “All In Sustaining Costs” 7 REGIONAL OVERVIEW - BRITISH COLUMBIA

BC MINING INDUSTRY IS A PILLAR OF THE ECONOMY

▪ Valued at CAD$12 billion, with 17 actively operating mines, 2 smelters and over 1000 significant industrial mineral and aggregate operations.*

▪ Among the safest political jurisdictions in the world for mining.

▪ One of the shortest shipping routes from North America to Asia, minimizing transportation costs for gold concentrate sales to China and Japan.

LEGEND

Cities

Mines MPD Ports

Airports

* According to a new study by the Mining Association of BC (MABC) and Mining Suppliers Association of BC (MSABC). See “Appendix: Other Information” for details 8 REGIONAL OVERVIEW - PROXIMITY TO INFRASTRUCTURE

Kodiak MPD

LEGEND

Cities

Mines

Ports

Airports

● Not all gold ounces are created equally. Many mines are situated in remote areas, requiring extensive infrastructure investments. ● The Elk Gold Project is within 2 km of the all-season Highway 97C, 30 minutes to Merritt’s and Kelowna’s workforce, 1 hour to milling facilities and 4 hours away from Vancouver Ports. ● The Thompson Nicola region has year round accessibility which allows for mining and drilling throughout the entire year.

9 REGIONAL OVERVIEW - GEOLOGY

The Elk Gold Project is host to a gold-bearing mesothermal quartz + sulphide vein deposit.

High grade gold veins hosted by intrusive and volcanic rocks.

Gold mineralization occurs within structurally controlled pyritic quartz veins.

The mineralized veins strike east-west and LEGEND occur along the Princeton Group discontinuity between Otter Intrusions Granite the Nicola volcanic

Summers Pluton Granite group and the Osprey Lake Batholith. Osprey Granite

Batholith Granodiorite

Andestic volcanics

10 REGIONAL OVERVIEW - SITE PLAN AND INFRASTRUCTURE

Pit 2 – Bulk Sample Exploration Office Soil Stockpile

Waste Rock Storage

Ore Stockpile

Contractor Laydown Pit 1 – Historic Pit

Highway 97C – 2km from site

Location Ready to Expand Turn Key Operation ● Commuting distance to Merritt and ● Siwash zone has mineral resource ● 2 established pits with gold on Kelowna - No camp required estimate - open at strike and depth surface ● 2km off all season highway and the ● Eight other zones all showing ● Ore stockpile pad Elkhart Lodge - commercial similar grades and structure ● Water management infrastructure cardlock gas station, diner, motel ● $3M targeted Multi Phased Drill in place ● Access to site from highway via all Program ● 127,069m of historic drilling ($30M season gravel road (2km) ● 16,716 Hectare Land Package to replace*)

* Replacement cost assumes $235/m exploration cumulative costs 11 Intended Permitting and Expansion Milestones Permit expansion to 50k ounces per year throughput - Budget $2.5M*

YEAR 1 YEAR 2 YEAR 3 ▪ 70,000tpa Initial Mining Rate (Year 1-3) - 19,000oz/yr Au production, below EA trigger threshold, fast to production, eliminates schedule Environmental Assessment Certiﬁcate - ($2.0M) risk of EA process.

▪ 324,000tpa Mining Rate Starting Year 4 – Early Engagement ($0.1M) 50,000oz/yr Au production, expansion funded with cash flow. EA Readiness Decision ($1.0M)

▪ Positive/productive consultation with First Nation Communities prior to the mine permit. Process Planning ($0.3M) ▪ Support from Local Communities – letter of support Application Development and from the City of Merritt. Review ($0.3M) ▪ Phase 1: 70,000tpa Permit Amendment has been Effects Assessment & accepted through screening and is in application Recommendations ($0.3M) review. Anticipated completion Q2 2021.

Decision by Environmental ▪ Environmental Assessment Process for Mine Assessment Oﬃce Expansion: Coordinated Authorizations of Major Mine Permits ($0.5M) ○ Established relationships with First Nations and regulators. Pre-Application for Mine Permits ($0.2M) ○ Existing environmental database to build on.

○ Increased benefits to communities and British Application Screening ($0.1M) Columbia.

○ Funded through project cash flow ($2.5M Application Review ($0.2M) budget).

Decision by Statutory Decision ○ Will commence upon completion of Phase 1 Makers Permit.

* The results from the PEA are preliminary in nature and include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the preliminary economic assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. See “Appendix: Preliminary Economic Assessment and Appendix: Life of Mine Annual Cash Flow” for details 12 MILLING - Phase 1 - Contract / Toll Milling - Year 1-3

▪ Toll milling simplifies the initial mining permit application and reduces the capital cost required to reach commercial production. ▪ Toll mill contract with variable pricing, protects from lower gold price while maintaining high upside exposure. ▪ Opportunity to supplement toll mill’s Cu-Au feed with Elk Gold high grade Au mineralized material. ▪ 130 km from Elk Gold Project. ▪ Favorable Mill Characteristics: ○ 15,000 tpd capacity Cu-Au mill ○ Flow sheet ideal for Elk Gold mineralized material (Gravity and Sulphide flotation) and designed for flexibility ▪ PEA Estimated CA$45 dollar per tonne processed.

August 2020 Metallurgical Test Program ▪ Metallurgical testwork simulated the Toll Miller’s operating parameters to establish compatibility. ▪ The testwork demonstrates the viability of processing a blended mineralized material at the Toll Mill, confirming the PEA’s assumptions. ▪ The addition of the Elk Gold mineralized material increased the concentrate gold grade by 80% (at the tested 1:9 blend ratio ) validating the strong metallurgical recovery/compatibility of blended Elk Gold mineralized material at the Toll Mill. 13 MILLING - Phase 2 - On Site Milling - Year 4 Onward

▪ CapEx $23.5M ; anticipated to be self funded through free cash flow at current gold prices. ▪ Reduces Processing Cost relative to toll milling. ▪ Eliminates toll mill charges and highway haulage costs. ▪ Provides the ability to sell concentrate directly to smelter. ▪ Efficiencies of vertical integration of mining and milling within the same company.

Aug 2020 Metallurgical Testwork Program ▪ Results support the PEA assumptions of

a 92% recovery and 115g/t concentrate 2,102 grade. ▪ The gold recovery to rougher concentrate in all samples tested was greater than 97%. 1,247

▪ Metallurgical response was not 830 1,006 sensitive to primary grind size. There 803 692 659 is potential to increase the size of the 56.8 338 primary grind and reduce the 273 operating and capital cost of the process plant. ▪ No impurities identified that would impact the saleability of gold concentrate. 14 GOLD MINERALIZATION AT THE ELK GOLD PROJECT

LEGEND N Historical Pits and initial Site Previous drilling confirms that the Elk Gold Project hosts multiple gold mineralized Bullion Zone zones within the 16,716 hectare property boundary. The Elk Gold is a mesothermal, intrusive related, gold vein system. Siwash North Mineral Resource Zone Siwash East Zone Gold occurs in pyritic quartz veins along with minor base metals. Quartz veins occur Gold Creek in fractures and shears within a granitic intrusion. Lake Zone

End Zone

Elusive Zone

High Grade Gold Prospect

Discovery Zone Siwash North Mineral Resource zone includes pit constrained Measured & Indicated 454,000 oz AuEq and Inferred 95,000 oz AuEq* South Zone

* Effective date of mineral resource estimate is July 3, 2020. See “Appendix: Mineral Resource Estimate” for details 15 NI 43-101 MINERAL RESOURCE ESTIMATE

Elk Gold Total Mineral Resources* Classiﬁcation Tonnes AuEq (g/t) Au (g/t) Ag (g/t) AuEq Ounces

Measured 385,000 6.25 6.18 6.20 76,000 Indicated 2,314,000 5.17 5.06 9.73 378,000 Meas. & Ind. 2,699,000 5.33 5.22 9.23 454,000 Inferred 454,000 6.57 6.40 14.17 95,000

Focused exploration on the Siwash North Zone resulted in the delineation of a robust mineral resource and further exploration potential.

Limited exploration on the other eight known zones yielded data that suggests further mineral resource potential. The data accumulated to date suggests parallel structures across the Elk Gold Project and forms the basis for the proposed $3M multi-phased drill program.

*The mineral resource estimate is effective July 3, 2020 and uses CIM definitions for their classification. Mineral resources that are not mineral reserves do not have demonstrated economic viability. See “Appendix: Mineral Resource Estimate” for details 16 HISTORIC EXPLORATION - SUMMARY

Extensive exploration has identified nine gold mineralized zones: ● Majority of exploration to date has focused on the Siwash North Zone in order to delineate a mineral resource and conduct bulk sample mining. Significant exploration work has been conducted on the property, including: ● Two bulk samples, extracting a combined 54k oz Au @ 93 g/t* ● 127,069 metres of drilling (please see table) ● 23,201 geochemical soil samples ● 4,216 hectares mapped; 8.1 km trenching ● 211 km of Geophysical Surveys Drilling-To-Date by Zone* # Drill Zone Meterage Significant Intercepts Holes Main Mineral Siwash North 1,110 113,658 m Resource Zone Gold Creek 24 2,140 m 27.22 g/t over 0.36m South Zone 41 4,615 m 220.0 g/t over 0.50m Lake Zone 30 3,518 m 55.4 g/t over 0.55m End Zone 7 340 m 24.4 g/t over 0.50m Discovery 12 868 m 22.01 g/t over 0.37m Bullion 5 1,058 m 47.55 g/t over 0.30m Siwash East 4 505 m 1.43 g/t over 0.40m TOTAL 1,237 127,069 m

*Information on historic production is summarized in the Elk Gold Technical Report entitled “NI 43-101 Technical Report Preliminary Economic Assessment on the Elk Gold Project” dated September 21, 2020, effective July 3, 2020 and filed on Gold Mountain SEDAR profile on September 24, 2020. 17 HISTORIC EXPLORATION - SIWASH NORTH MINERAL RESOURCE ZONE

Past operators focused exploration drilling on the Siwash North Zone with over 90% of the overall drilling to date.

Past operator mined 51,460 ounces, with an average of 97 g/t*

Current 43-101 Mineral Resource: • M&I = 454,000 AuEq oz @ 5.33 g/t AuEq* • Inferred = 95,000 oz @ 6.57 g/t AuEq* • Open along strike and depth. • Potential to expand open pit and underground mineral resources.

*Effective date of the mineral resource estimate is July 3rd, 2020. See “Appendix: Mineral Resource Estimate” for details. For information on historic production, see the Elk Gold Technical Report entitled “NI 43-101 Technical Report Preliminary Economic Assessment on the Elk Gold Project” dated September 21, 2020, effective July 3, 2020 and filed on Gold Mountain’s SEDAR profile on September 24, 2020. Drill results in the Siwash North Mineral Resource Zone 18 informed the mineral resource estimate. HISTORIC EXPLORATION - ADDITIONAL ZONES

1. Potential for Mineral Resource Increase

2. Drilling in exploration targets indicates that the additional zones have similar structure and grades to the Siwash mineral resource*

3. Open along strike and depth

4. Gold mineralization occurs within structurally controlled pyritic quartz veins.

*See “Appendix: Drill Results” for details on historic drilling across these zones 19 EXPLORATION - MULTI-PHASED DRILL PROGRAM

Multi-Phase Program - 2020 & 2021 Zone Phase Budget Meters Goal

Focus will be on drilling as the target Siwash North 1 $1,500,000 7,150 Increase inferred resources zones have sufficient geophysical and geochemical data to guide an effective Gold Creek 2 $650,000 3,250 Increase inferred resources drill program. The program is designed South Zone 2 $495,000 2,475 Increase inferred resources to expand the mineral resource base and identify further exploration targets Lake Zone 2 $150,000 750 Increase inferred resources across the five of the nine known Elusive Zone 2 $150,000 750 Develop deposit model mineralized zones. The drill program will include both delineation and step TOTAL $2,945,000 14,325 out drilling.

Exploration Range Upside In Select Zones*

Zone Tonnes Upside of Au Range (Oz)

Siwash North 1,013,000 326,000

Gold Creek Zone 1,215,000 141,000

Lake Zone 1,215,000 102,000

South Zone 1,215,000 70,000

TOTAL 4,658,000 638,000

*Exploration targets are conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in targets being delineated as a mineral resource. See “Appendix: Exploration Targets” for details 20 EXPLORATION - SIWASH NORTH MINERAL RESOURCE

Siwash North Pit Historic Pit S N

Starter pit @ 200 tpd 100 m depth

900 tpd pit to 190 m depth

OPEN

Gold occurs in multiple stacked veins FROM SURFACE, dipping to the south. The grades at Elk Gold Siwash North Mineral Resource Area are up to 400 g/t* gold. Known mineralization extends to 300m depth. Siwash North Mineral Resource Model

*See “Appendix: Mineral Resource” which provides the average grades of the mineral resource estimate. See the Elk Gold Technical Report entitled “NI 43-101 Technical Report Preliminary Economic Assessment on the Elk Gold Project” dated September 21, 2020, effective July 3, 2020 and filed on Gold Mountain’s SEDAR profile on September 24, 2020 for a detailed discussion on the mineral resource model. 21 EXPLORATION UPSIDE

Bullion Zone 0.3m @ 47.6 g/t N OPEN ALONG STRIKE (TO EAST)

Siwash North Mineral Resource Zone Correlation of the geophysical surveys M&I 454,000 AuEq oz Inf 95,000 AuEq oz and the known exploration targets suggests that the mineralization occurs along east-west striking, magnetic low Gold Creek Zone 0.2m @ 84.6 g/t features. Structurally controlled Lake Zone gold vein system. 7 0.6m @ 88.0 g/t known distinct parallel targets OPEN TO SOUTH End Zone 0.5m @ 24.4 g/t OPEN Magnetic signatures similar to the Discovery Zone Siwash mineral resource occur 0.4m @ 22.0 g/t Multiple additional targets with strong throughout the property suggesting the potential to add potential for additional future ounces South Zone 0.5m @ 220.0 g/t discoveries.

OPEN

Multiple known high grade gold vein prospects identified in a 5km x 5km area.

* For drill results on each of the above zones, see “Appendix: Drill Results” for details 22 LOGO

CONTACT Suite 1000 - 1285 West Pender Street Vancouver, BC , V6E 4B1 (778) 869-7699 [email protected]

23 APPENDIX: PRELIMINARY ECONOMIC ASSESSMENT - DETAILS

Base Case: $1,600/oz LOM gold and an exchange Additional PEA Parameters: rate of 1.35 (C$/US$)

Gold Price LOM US$1,600 Gold Recovery 92% Exchange Rate 1.35 Silver Recovery 90% NPV @5% Pre-tax and mining duties CAN $318 million Gold Payable 97% Net present value (NPV 5%) After-tax CAN $191 million Silver Payable 90% Pre-production capital costs CAN $6.9 million Gold TC/RC $6.00/oz After tax payback period 6 months Silver TC/RC $0.50/oz All in sustaining costs (AISC) per ounce gold US $735 / troy ounce NSR Royalty 2% PEA life of mine (LOM) 10 years LOM Avg. Mining Cost $3.03/t mined LOM metal production Au mined 405,515 oz Toll Milling Cost (200 tpd) $45/t milled LOM metal production Au recovered 373,074 oz On-site Milling Cost (900 tpd) $21.03/t milled LOM mineralized material mined 2,397k tonnes G&A $4.96/t milled LOM average gold head grade 5.26 g/t Expansion Capital Cost $26M LOM average silver head grade 8.78 g/t Life of Mine Revenue CAN $788 million Life Of Mine Strip Ratio 34.9

For further details on the assumptions and parameters used for the Elk Gold Project economics, please see the Elk Gold Technical Report entitled “NI 43-101 Technical Report Preliminary Economic Assessment on the Elk Gold Project” dated September 21, 2020, effective July 3, 2020 and ﬁled on Gold Mountain Mining Corp.’s SEDAR proﬁle on September 24, 2020. APPENDIX: PEA - LIFE-OF-MINE ANNUAL CASH FLOW SUMMARY

Unit Total Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Open Pit Production Mineral Resources Mined dmt ('000s) 2,397 70 70 70 324 324 324 324 324 324 243 Non-Mineral Resources Mined dmt ('000s) 83,617 2,056 1,940 2,358 3,003 4,041 13,749 14,126 17,075 16,492 8,777 Au (g/t) 5.26 11.4 7.2 7.4 5.5 5 5.2 5.6 5.1 3.8 4 Ag (g/t) 8.78 10.5 6.1 7 6.3 7.6 9.2 11.6 10.9 7.9 8.4 S (%) 0.71 0.8 0.1 0.1 0.7 0.5 0.7 1 0.8 0.8 0.8 Strip Ratio (nr:r) 34.9 29.4 27.7 33.7 9.3 12.5 42.4 43.6 52.7 50.9 36.1 Au Mined oz ('000s) 406 25.6 16.3 16.6 57 51.9 54.7 58.5 53.3 40.1 31.6 Au Recovered oz ('000s) 373 23.5 15 15.3 52.4 47.7 50.3 53.8 49.1 36.9 29.1 Ag Mined oz ('000s) 677 23.5 13.8 15.9 65.9 78.9 96 120.7 113.9 81.9 66 Ag Recovered oz ('000s) 609 21.2 12.4 14.3 59.3 71 86.4 108.6 102.5 73.7 59.4 Revenue Au Price US$/oz 1,777 1,717 1,645 1,625 1,600 1,600 1,600 1,600 1,600 1,600 Au Price $/oz 2,401 2,320 2,223 2,196 2,162 2,162 2,162 2,162 2,162 2,162 Au Payable $ '000s 817,342 56,481 34,751 33,997 115,136 103,178 108,717 116,371 106,063 79,776 62,873 Ag Price US$/oz 19.27 19.07 18.52 18.27 18.11 18.11 18.11 18.11 18.11 18.11 Ag Price $/oz 26 26 25 25 24 24 24 24 24 24 Ag Credit $ '000 14,971 552 320 357 1,465 1,739 2,114 2,658 2,510 1,804 1,453 Cost of Gold Revenue Gold Payable Deduction $ '000 24,520 1,694 1,043 1,020 3,454 3,095 3,261 3,491 3,182 2,393 1,886 NSR $ '000 15,812 1,093 672 658 2,227 1,996 2,103 2,251 2,052 1,543 1,216 TC/RC $ '000 2,238 141 90 92 315 286 302 323 294 221 174 Total Cost of Revenue $ '000 42,570 2,928 1,805 1,769 5,996 5,378 5,666 6,065 5,528 4,158 3,277 Cost of Silver Revenue Silver Payable Deduction $ '000 1,497 55 32 36 146 174 211 266 251 180 145 NSR $ '000 263 10 6 6 26 31 37 47 44 32 26 TC/RC $ '000 304 11 6 7 30 36 43 54 51 37 30 Total Cost of Revenue $ '000 2,065 75 44 49 202 240 292 367 346 249 201 Gross Revenue Gold $ '000 774,771 53,553 32,946 32,227 109,140 97,801 103,050 110,305 100,535 75,618 59,596 Gross Revenue Silver $ '000 12,906 476 276 308 1,263 1,499 1,822 2,291 2,163 1,555 1,253 Capital Costs Total Owner's Costs $ '000 16,165 4,515 4,600 4,390 380 380 380 380 380 380 380 Total Capital Cost $ '000 44,094 6,945 0 26,049 200 200 200 200 150 5,100 5,050 Operating Costs Mining Cost (Total Material) $ '000 255,395 3,401 8,255 9,640 11,601 14,296 39,840 41,239 48,239 49,841 29,043 Highway Haulage $ '000 1,548 516 516 516 0 0 0 0 0 0 0 Mineral Processing $ '000 56,867 0 0 0 8,424 8,424 8,424 8,424 8,424 8,424 6,323 Toll Milling $ '000 9,450 3,150 3,150 3,150 0 0 0 0 0 0 0 Total Operating Cost $ '000 323,259 7,067 11,921 13,306 20,025 22,720 48,264 49,663 56,663 58,265 35,365 Total Cash Costs, Net PBC $ '000 370,612 18,051 16,245 43,437 19,342 21,801 47,022 47,952 55,030 62,190 39,543 AISC US$/oz 735 Net Before Tax Cash Flows $ '000 404,160 35,501 16,701 -11,210 89,798 76,000 56,029 62,354 45,505 13,428 20,053 Tax Expense $ '000 161,641 13,316 6,836 382 32,034 30,092 22,288 24,957 18,263 5,415 8,057 After Tax Cash Flows $ '000 242,519 22,185 9,865 -11,592 57,764 45,908 33,741 37,396 27,242 8,013 11,997

The results from the preliminary assessment are preliminary in nature and include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. For further details on the assumptions and parameters used for the Elk Gold Project economics, please see the Elk Gold Technical Report entitled “NI 43-101 Technical Report Preliminary Economic Assessment on the Elk Gold Project” dated September 21, 2020, effective July 3, 2020 and filed on Gold Mountain’s SEDAR profile on September 24, 2020. APPENDIX: MINERAL RESOURCES

adf Classification Tonnes AuEq (g/t) Au (g/t) Ag (g/t) AuEq Ounces

Elk Gold Pit-Constrained Mineral Resources (cutoff AuEq 0.5 g/t) Measured 380,000 6.24 6.16 6.21 75,000 Indicated 2,111,000 4.80 4.70 8.47 319,000 Measure + Indicated 2,491,000 5.02 4.93 8.13 394,000 Inferred 259,000 4.58 4.46 9.57 37,000

Elk Gold Underground Mineral Resources (cutoff AuEq 5.0 g/t) Measured 5,000 7.48 7.42 5.70 1,000 Indicated 203,000 9.03 8.76 22.84 59,000 Measured + Indicated 208,000 8.99 8.73 22.43 60,000 Inferred 195,000 9.21 8.97 20.27 58,000

Elk Gold Total Mineral Resources Measured 385,000 6.25 6.18 6.20 76,000 Indicated 2,314,000 5.17 5.06 9.73 378,000 Measured + Indicated 2,699,000 5.33 5.22 9.23 454,000 Inferred 454,000 6.57 6.40 14.17 95,000

NOTE 1: Drill centres for Measured, Indicated and Inferred are 25m, 50m and 75m respectively NOTE 2: The effective date of the mineral resource estimate is July 3, 2020 CIM definitions were used in classification of the Mineral Resource. The metric tonnes were rounded to the nearest thousand and the ounces rounded to the nearest hundred. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. For details relating to data verification, key assumptions and parameters and methods used for the Mineral Resource Estimate, please see the Elk Gold Technical Report entitled “NI 43-101 Technical Report Preliminary Economic Assessment on the Elk Gold Project” dated September 21, 2020, effective July 3, 2020 and filed on Gold Mountain Mining Corp.’s SEDAR profile on September 24, 2020. APPENDIX: EXPLORATION TARGETS

Zone Tonnes Grade (g/t) Contained Au (oz) Siwash North 338,000 - 1,013,000 5.0 - 10.0 54,000 - 326,000 Gold Creek Zone 405,000 - 1,215,000 1.8 - 3.6 23,000 - 141,000 Lake Zone 405,000 - 1,215,000 1.3 - 2.6 17,000 - 102,000 South Zone 405,000 - 1,215,000 0.9 - 1.8 12,000 - 70,000 TOTAL 1,553,000 - 4,658,000 2.13 - 4.26 106,000 - 638,000

Exploration Ranges The size and concentration of exploration targets was determined based on the existing 3D drill hole data for each zone along with the structural similarities of each zone to the known Siwash North mineral resource estimate.

Exploration targets are conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the targets being delineated as a mineral resource. Historic APPENDIX: DRILL RESULTS Existing Holes 41 SOUTH ZONE: 1 of 2 Meters 4615 Open Strike / Depth Gold Silver Thickness Hole ID (g/t) (g/t) (m) SSD95-164 2.48 0.30 and 1.35 2.78 SSD95-166 2.87 1.97 and 15.47 0.22 SSD95-167 4.32 0.20 and 4.25 0.58 and 1.13 9.43 SSD95-168 2.21 1.40 SSD95-169 2.18 11.69 SSD95-170 1.58 0.49 SSD95-202 2.08 0.60 SSD10-003 0.65 9.29 and 1.14 3.20 SSD10-004 1.04 7.81 SSD12-255 4.58 16.25 0.49 SSD12-227 1.01 5.35 1.88 SSD12-228 1.03 0.47 7.27 SSD12-226 8.01 14.38 15.75 including 220.00 310.00 0.50 including 10.50 14.80 0.50 SSD12-218 3.59 18.94 4.99 SSD12-232 13.05 31.57 4.50 including 55.30 148.00 0.58 SSD12-234 1.00 6.40 1.00 Phase 1 - Exploration * Colour gradient represents au soil geochemical contours Holes 16 * For complete information on historic drilling see, the Elk Gold Technical Report entitled “NI 43-101 Technical Report Meters 2,475 Preliminary Economic Assessment on the Elk Gold Project” dated September 21, 2020, effective July 3, 2020 and filed on Gold Mountain’s SEDAR profile on September 24, 2020. APPENDIX: DRILL RESULTS Historic Existing Holes 41 SOUTH ZONE: 2 of 2 Meters 4615 Open Strike / Depth Gold Silver Thickness Hole ID (g/t) (g/t) (m) SSD12-234 1.00 6.40 1.00 SSD12-255 1.01 0.56 4.00 and 1.23 15.10 0.50 SSD12-257 3.62 2.40 1.05 SSD12-230 1.19 1.61 8.98 SSD12-231 N/A N/A N/A SSD12-246 13.05 31.57 4.32 including 55.30 148.00 0.85 SSD12-247 1.43 2.00 3.85 and 2.97 6.74 1.55 SSD12-244 1.13 1.80 2.00 SSD12-259 1.21 4.57 2.75 and 1.26 6.64 3.50 and 1.08 0.80 3.00 SSD12-243 1.47 1.50 1.35 SSD12-254 1.21 1.80 2.75 and 1.06 1.11 3.50 and 1.59 2.24 2.50 SSD12-249 1.66 2.31 2.25 SSD12-250 1.53 3.18 0.52 and 1.48 5.00 0.34 SSD12-232 13.05 31.57 4.50 including 55.30 148.00 0.58 Phase 1 - Exploration Holes 16 * Colour gradient represents au soil geochemical contours * For complete information on historic drilling see, the Elk Gold Technical Report entitled “NI 43-101 Technical Report Meters 2,475 Preliminary Economic Assessment on the Elk Gold Project” dated September 21, 2020, effective July 3, 2020 and filed on Gold Mountain SEDAR profile on September 24, 2020. APPENDIX: DRILL RESULTS LAKE ZONE: 1 of 2

Historic Existing Holes 30 Meters 3518 Open Strike / Depth Gold Silver Thickness Hole ID (g/t) (g/t) (m) SLD90-056 2.95 2.60 SLD90-057 1.13 5.75 SLD90-059 4.46 0.50 SLD95-148 2.26 1.18 and 4.06 0.94 SLD95-149 1.69 4.56 and 2.46 4.35 SLD95-150 9.99 2.57 including 55.44 0.55 including 18.45 0.36 SLD95-200 7.70 1.44 including 15.91 0.67 SLD05-436 1.11 4.48 and 2.87 2.60 SLD05-437 3.05 1.60 including 13.73 0.30 Phase 1 - Exploration Holes 5 * Colour gradient represents au soil geochemical contours Meters 750

* Colour gradient represents au soil geochemical contours * For complete information on historic drilling see, the Elk Gold Technical Report entitled “NI 43-101 Technical Report Preliminary Economic Assessment on the Elk Gold Project” dated September 21, 2020, effective July 3, 2020 and filed on Gold Mountain SEDAR profile on September 24, 2020. APPENDIX: DRILL RESULTS LAKE ZONE: 2 of 2 Historic Existing Holes 30 Meters 3518 Open Strike / Depth Gold Silver Thickness Hole ID (g/t) (g/t) (m) SLD05-438 6.87 1.12 including 18.43 0.30 SLD05-439 9.01 2.10 including 14.26 0.50 including 21.26 0.50 SLD05-439 3.12 0.30 SND12-201 9.24 34.30 0.35 SND12-204 0.96 2.00 0.30 SLD12-209 45.30 17.60 0.33 SLD12-211 2.73 5.25 1.00 SLD12-215 11.85 97.75 1.00 SND12-198 0.65 17.30 0.50 SND12-207 7.65 9.02 2.03 including 37.55 38.35 0.30 and 0.85 3.24 1.16 SND12-207 1.35 4.05 1.00 and 7.11 11.00 0.50 Phase 1 - Exploration Holes 5 Meters 750 * Colour gradient represents au soil geochemical contours * For complete information on historic drilling see, the Elk Gold Technical Report entitled “NI 43-101 Technical Report Preliminary Economic Assessment on the Elk Gold Project” dated September 21, 2020, effective July 3, 2020 and filed on Gold Mountain SEDAR profile on September 24, 2020. APPENDIX: DRILL RESULTS GOLD CREEK ZONE

Historic Existing Holes 24 Meters 2140 Open Strike / Depth Gold Silver Thickness Hole ID (g/t) (g/t) (m) SND02-322 2.66 0.30 SND02-323 1.31 0.30 SND02-324 1.78 0.62 SND00-304 27.22 - 0.36 SND00-305 5.25 - 0.37 SND11-155 84.60 319.00 0.20 SND11-156 12.11 52.90 0.40 SND11-158 38.70 100.00 0.20 SND11-159 0.72 5.60 0.25 SND11-160 - - 0.40 SND96-291 4.49 - 1.97 SND96-293 19.68 150.86 0.30 SND96-295 2.40 0.63 SND00-307 3.22 0.32 Phase 1 - Exploration Holes 21 Meters 3,250 * Colour gradient represents au soil geochemical contours * For complete information on historic drilling see, the Elk Gold Technical Report entitled “NI 43-101 Technical Report Preliminary Economic Assessment on the Elk Gold Project” dated September 21, 2020, effective July 3, 2020 and filed on Gold Mountain SEDAR profile on September 24, 2020. APPENDIX: DRILL RESULTS Historic Existing Holes 10 BULLION ZONE Meters 1058 Open Strike / Depth Gold Silver Thicknes Hole ID (g/t) (g/t) s (m) SND04-376 1.24 - 0.30 and 2.75 - 1.00 SND04-377 13.66 - 0.32 and 5.50 - 0.43 SND04-379 1.36 - 3.35 and 2.73 - 0.50 and 1.10 - 0.34 SND02-314 1.18 - 0.30 SND02-315 1.18 - 0.65 and 8.43 - 0.65 GW12-003 15.75 36.30 0.50 and 16.80 41.30 0.50 SND12-280 47.55 326.50 0.30 and 3.81 8.40 0.30 and 1.37 22.20 0.30 SND12-281 9.42 27.25 0.30 and 3.92 7.85 0.76 and 1.00 2.32 1.90 and 1.75 7.40 0.49 SND12-282 1.75 7.40 0.30 and 18.85 47.30 0.40 and 0.81 3.10 0.30 and 2.02 1.70 0.42

* Colour gradient represents au soil geochemical contours Phase 1 - Exploration Holes - * Colour gradient represents au soil geochemical contours Meters - * For complete information on historic drilling see, the Elk Gold Technical Report entitled “NI 43-101 Technical Report Preliminary Economic Assessment on the Elk Gold Project” dated September 21, 2020, effective July 3, 2020 and filed on Gold Mountain SEDAR profile on September 24, 2020. APPENDIX: DRILL RESULTS END ZONE

Historic Existing Holes 7 Meters 340 Open Strike / Depth Gold Silver Thickness Hole ID (g/t) (g/t) (m) EZD95-153 10.05 - 0.56 EZD95-154 10.56 - 0.30 GWD95-155 0.93 - 0.33 GWD95-156 3.81 - 0.29 EZD95-158 24.40 - 0.50 Phase 1 - Exploration Holes - Meters -

* Colour gradient represents au soil geochemical contours

Historic Existing Holes 12 Meters 868 Open Strike / Depth Gold Silver Thickness Hole ID (g/t) (g/t) (m) DSD95-159 13.60 0.68 including 22.01 0.37 and 4.80 0.33 DSD95-161 4.46 0.30 DSD95-201 1.03 0.40 DSD12-236 1.81 20.88 1.00 DSD12-237 1.12 5.45 0.94 DSD12-238 1.05 0.30 DSD12-240 1.71 0.30 Phase 1 - Exploration Holes - Meters -

Sources

The information on BC’s mining industry is from the following website accessed on June 16, 2020: https://www.mining.com/mining-generates-billions-for-british-columbia-economy/

Past Production Information on past production is pulled from the Elk Gold Technical Report entitled “NI 43-101 Technical Report Preliminary Economic Assessment on the Elk Gold Project” dated September 21, 2020, effective July 3, 2020 and ﬁled on Gold Mountain’s SEDAR proﬁle on September 24, 2020.

Referenced Technical Reports The following technical reports is the source material for the comparative Mineral Resource disclosure:

Skeena Resources Limited NI 43-101 Technical Report for the Snip Project, effective July 20, 2020 NI 43-101 Technical Report for the Eskay Creek Project, effective November 7, 2019

Ascot Resources Ltd. NI 43-101 Technical Report for the Premier & Red Mountain Gold Project, effective April 15, 2020

Battle North Gold Corporation NI 43-101 Technical Report for the Bateman Gold Project, effective May 5, 2020

Treasury Metals Inc. NI 43-101 Technical Report for the Goliath Gold Project, effective July 1, 2019 NI 43-101 Technical Report for the Goldlund Gold Project, effective July 22, 2020

Radisson Mining Resources Inc. NI 43-101 Technical Report for the O’Brien Project, effective July 15, 2020 NI 43-101 Technical Report for the New Alger Gold Property, effective May 1, 2020

Maritime Resources Corp. NI 43-101 Technical Report for the Hammerdown Gold Project, effective February 29, 2020