Gold Mountain Mining Corp. announced that its wholly owned subsidiary has entered into a loan agreement with Hedge Minerals Corp., an arm's length third party to the Company. The Lender has provided a secured loan to the Company in the principal amount of up to $1,500,000, of which $1,000,000 has been advanced to the Company.

The Loan shall bear interest at a rate equal to 15.0% per annum and payable on the first day of each month in arrears, mature twenty-four (24) months from the date of the Loan, and shall be secured by way of a share pledge over all of the shares of Elk Gold Mining Corp., an indirect subsidiary of the Company which owns and operates the Elk Gold Project. The Company has the option to prepay the Loan at any time on or after March 13, 2024 on six months' notice or with a lump sum penalty payment equal to six months' interest.