Gold Mountain Limited (ASX: $GMN) Announcement Overview

Gold Mountain Limited (ASX: $GMN) has announced the receipt of a third batch of 12 stream sediment samples from the Irajuba tenements in the Down Under Project area. The samples have revealed very high grade results, extending and consolidating the areas of high grade results previously released on 24 July 2024. The company is excited about the potential for ultra-high grade hard rock monazite hosted REE-Nb-U-Sc mineralisation indicated by the new stream sediment sample results, coinciding with higher value TREO anomalies. Additional drill sites have been designed to test the extended areas of the most highly anomalous results for both hard rock monazite mineralisation and IAC mineralisation. Furthermore, new applications have been made by GMN on extensions of Irajuba anomalous catchments, and landowner agreements are being made as required to allow for drilling. The company has also ordered a second auger rig and lodged permits for drilling in the Irajuba area in NW Down Under Project.

Executive Commentary

The company is pleased to report the significant extension of Very Highly Anomalous Rare Earths on the Down Under REE Project. The new stream sediment sample results have provided valuable insights, indicating the potential for ultra-high grade hard rock monazite hosted REE-Nb-U-Sc mineralisation. We are committed to further exploration and have already designed additional drill sites to test the extended areas of the most highly anomalous results. Our focus on securing landowner agreements and obtaining necessary permits demonstrates our dedication to advancing our exploration activities. We are optimistic about the future workplan, including the radiometric traversing and stream sediment pan concentrate sampling, which are planned to further enhance our understanding of the project area.

Summary and Outlook

Gold Mountain Limited (ASX: $GMN) has made significant progress in extending the areas of Very Highly Anomalous Rare Earths on the Down Under REE Project. The company's future workplan, including the ordering of a second auger rig, identification of specific drill sites, and planned radiometric traversing, reflects its commitment to advancing exploration activities. The extension of priority drill areas and the application for new tenements demonstrate the company's proactive approach to maximizing the potential of the project. With ongoing efforts to secure permits and agreements, Gold Mountain is well-positioned to continue its exploration activities and unlock the full potential of the Down Under REE Project. The company's diversified project portfolio in Brazil and Papua New Guinea further underlines its commitment to exploring highly prospective areas for a range of metals, including rare earth elements, niobium, lithium, nickel, copper, and gold.