GOLD MOUNTAIN LIMITED — Capital/Financing Update 2017

Aug 22, 2017

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ASX RELEASE

Suite 2501 Level 25 St Martins Tower 31 Market Street Sydney NSW 2000 Australia (PO Box Q638 QVB Market Street NSW 1230 Australia) Tel: +61 (02) 9283 3880

23 August 2017

Gold Mountain funding commitments now total $5 million

Gold Mountain Limited (“GMN” or “Company”) is pleased to advise that it has now secured funding commitments totalling $5 million from new sophisticated investors, up from the $3.7 million reported on 24 July 2017.

Commitments have been received for a further $1.3 million and new shares will be allotted at $0.10 per share with a free option entitlement of one (1) option for every two (2) shares issued. These options are exercisable at $0.15 and expire on 30 June 2019.

As previously advised, the funds raised will be used for general working capital requirements and to fund ongoing exploration and project development activities at the Company’s flagship Crown Ridge Project in Papua New Guinea.

Gold Mountain is pleased to confirm that mobilisation of drilling rigs is expected to occur shortly with the drilling program and bulk sampling activities being undertaken to establish a maiden mineral resource at Crown Ridge.

Gold Mountain’s Managing Director Tony Teng commented: “Investor support continues to build for Gold Mountain and we are grateful for the commitment from our new and existing investors. We are pleased to confirm that $1 million of the further $1.3 million committed is from an existing shareholder whose investment in Gold Mountain now totals $2 million. This reflects the quality of investors we are attracting to Gold Mountain's register.

NB: The Company invites you to view the following:

• Photographs showing progress of drill site preparation and camp facilities www.goldmountainltd.com.au/gallery , and

• Article from Asia Miner (29/7/2017) - https://www.goldmountainltd.com.au/press-reports

For information please see our website www.goldmountainltd.com.au or contact:

Tony Teng Shareholder & Media Enquiries Managing Director Six Degrees Investor Relations 0414 300 044 Henry Jordan: 0431 271 538

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