GOLD MOUNTAIN LIMITED — Capital/Financing Update 2017

Jul 23, 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

24 July 2017

Gold Mountain’s funding commitments now at $3.7 million

Gold Mountain Limited (“ GMN” or “ Company” ) is pleased to advise that it has now secured a total of $3.7 million in funding commitments from new sophisticated investors, up from the $3 million reported on 2 June 2017. Of the $3.7 million committed, $3.4 million has now been banked. Gold Mountain anticipates it will receive funding commitments above the stated $3.7 million in the near term.

New shares will be allotted shortly at a price of $0.10 per share with a free option entitlement of one (1) for every two (2) shares issued. The options are exercisable at $0.15 and expire on 30 June 2019.

The funds raised will be used for general working capital requirements and ongoing exploration and project development activities at the flagship Crown Ridge Project in PNG. Activities include the planned drilling program which is aimed at establishing a maiden mineral resource for Crown Ridge, and ongoing bulk sampling activity which is building the case for a low-cost, bulk mining operation.

Tony Teng, Managing Director of Gold Mountain Limited, commented: “This funding commitment again illustrates the unlocked value that some sophisticated investors see in our Crown Ridge project. We expect that the upcoming drilling and ongoing bulk sampling program will be a key step is realising some of this value.

“With recently added highly prospective leases which give us a much larger project area, Gold Mountain has assembled an asset portfolio in a region that hosts several multi-million ounce precious metals projects. Crown Ridge has every chance of becoming another PNG ‘elephant’, and that is what appeals to our investors. We are grateful for their support and will continue to update shareholders on exploration and development activity.”

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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