Brookmount Gold Announces Financial Results for 2024

• Brookmount Gold (sic. Brookmount Explorations Inc.) (OTC: BMXI), a leading gold exploration and development company, today announced its financial results for the year ended November 30, 2024.

Revenue for the 12 months reached $18.4 million, an increase of approximately 8.2% over the corresponding result of $17 million in 2023. One hundred percent of revenue during the year was comprised of direct sales of gold.

Net income for 2024 was approximately $9.3 million, representing an increase of 4% over the prior year result of $8.9 million, primarily reflecting the impact of higher gold prices during the year.

“We are pleased to report that the Company has continued the positive trend of performance of the past three years,” commented Nils Ollquist, CEO of Brookmount Gold. “As our shareholders are aware, in late 2024, Brookmount finalized the acquisition of full operational control and ownership of its Indonesian gold production operations.”

Mr. Ollquist continued: “During December 2024, we successfully transitioned management control while retaining key employees to ensure a seamless transition process. From January 2, 2025, Brookmount will orchestrate every aspect of the operation, including drilling, mining, processing, and sales. Our focus in the ensuing quarter will be to implement improved operational systems and mining and safety protocols, which we believe will lead to higher production levels and cash generation from gold sales.”

Mr. Ollquist concluded: “Over the past year, the global political situation has been profoundly impacted by wars in the Middle East and Ukraine, fears of conflict over the continuing independence of Taiwan, and significant increases in global inflation rates. Partly as a reflection of these trends, the price of gold has recently been increasing steadily and is now pushing $2,700/oz. Having completed the acquisition of our Indonesian gold operations, the Company will be well positioned to take advantage of this trend.”

The Company plans to host an investor conference sometime in mid-January 2025 to discuss financial results and provide an update on its strategic plans. Further information will be made available shortly.

Founded in 2018, Brookmount Gold is a high-growth gold-producing company incorporated and quoted on OTC Markets in the United States (OTC: BMXI) (BMXI.US), with operating gold mines in Southeast Asia and exploration and production assets in North America. In addition, the company is actively looking to secure additional high-quality gold assets with JORC/NI 43-101 verified resources.

Safe Harbor Statements:

Except for the historical information contained herein, certain of the matters discussed in this communication constitute “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995. Words such as “may,” “might,” “will,” “should,” “could,” “anticipate,” “estimate,” “expect,” “predict,” “project,” “future,” “potential,” “intend,” “seek to,” “plan,” “assume,” “believe,” “target,” “forecast,” “goal,” “objective,” “continue,” or the negative of such terms, or other variations thereof, and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements.

These forward-looking statements include, but are not limited to, statements regarding the benefits of the proposed license, expected synergies, anticipated future financial and operating performance and results, including estimates of growth. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication.

For example, the expected timing and likelihood of completion of the pending transaction, including the timing, receipt, and terms and conditions of any required governmental and regulatory approvals of the pending transaction, could reduce anticipated benefits or cause the parties to abandon the transaction; the ability to successfully integrate the businesses; the occurrence of any event, change, or other circumstance that could give rise to the termination of the negotiations; the risk that the parties may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all; risks related to disruption of management time from ongoing business operations due to the proposed transaction; and the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of Brookmount’s common stock.

All such factors are difficult to predict and are beyond our control. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this report, except as required by applicable law or regulations.