GOLD MOUNTAIN LIMITED — Capital/Financing Update 2023

Mar 26, 2023

Gold Mountain Limited

ACN 115 845 942

SUPPLEMENTARY PROSPECTUS

Important Information

This is a supplementary prospectus ( Supplementary Prospectus ) intended to be read with the prospectus dated 9 February 2023 ( Prospectus ) issued by Gold Mountain Limited ( Company ).

This Supplementary Prospectus is dated 27 March 2023 and was lodged with the Australian Securities and Investments Commission ( ASIC ) on that day. Neither ASIC nor ASX (and their respective officers) take any responsibility as to the contents of this Supplementary Prospectus.

To the extent of any inconsistency between this Supplementary Prospectus and the Prospectus, this Supplementary Prospectus will prevail. Unless otherwise indicated, terms defined and used in the Prospectus have the same meaning in this Supplementary Prospectus.

This is an important document and should be read in its entirety. If you do not understand it you should consult your professional advisors without delay.

1 OPTIONS ISSUED UNDER THE PROSPECTUS

On 7 March 2023 the Company issued 99,057,108 New Options under the Prospectus. The New Options have been quoted by ASX under the code “GMNO”.

The Shortfall Offer remains open under the Prospectus.

2 RESIGNATION AND APPOINTMENT OF DIRECTORS

Messrs Steven Larkins and Timothy Cameron resigned as Directors on 14 and 16 March 2023 respectively.

On 16 March 2023 Messrs David Evans and Aharon Zaetz were appointed Directors.

Attached to this Supplementary Prospectus are announcement made by the Company to the ASX on 14 and 16 March 2023 regarding the resignations and appointments.

The amendments to the Prospectus outlined in this Supplementary Prospectus should be read in conjunction with the Prospectus.

3 DIRECTORS INTERESTS

Section 10.2 of the Prospectus is varied to include the following table:

	Syed Hizam	Pay Chuan	David	Aharon
	Alsagoff	(Paul) Lim	Evans	Zaetz
Annual Remuneration	$12,000	$12,000	$12,000	$12,000
(excluding compulsory
superannuation)
Shares	26,815,483	91,380,000	182,102,741	7,501,001
Options (quoted and	7,433,382	21,398,333	92,238,167	2,666,667
unquoted)
Entitlement (New	5,363,097	18,276,000	36,420,548	1,500,200
Options)

4 DIRECTORS' AUTHORISATION

The Directors do not consider the information contained in this Supplementary Prospectus to be materially adverse to investors; and

This Supplementary Prospectus is issued by the Company and its issue has been authorised by a resolution of the Directors.

In accordance with section 720 of the Corporations Act, each Director has consented to the lodgement of this Supplementary Prospectus with ASIC.

Dated: 27 March 2023

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Mr David Evans Director

On behalf of Gold Mountain Limited