Gold Mountain Proceeding with Open Pit Test at Elk Gold Project

    




 TSX-V TRADING SYMBOL:  GUM Website: aumtn.com 

 VANCOUVER, Oct. 2, 2012 /CNW/ - Gold Mountain Mining Corporation (the  "Company" or "Gold Mountain") is pleased to announce that the Company  has recently received government permits to proceed with a bulk sample  program to confirm open pit mining parameters projected in the  Preliminary Economic Assessment report that was completed in early  2011. The 10,000 tonne bulk sample is projected to be completed this  fall and is estimated to contain 6,000 ounces of gold. Crews and  equipment have been mobilized and mining in progressing. 

 The location of the bulk sample pit is east of the previous Bonanza open  pit and underground operations. The bulk sample program will mine the  eastern extension of the same vein structure previously mined in the  early 1990's and produced 51,500 ounces of gold. 

 The operations will focus on determining the optimum open pit mining  process and will also provide a more representative grade for the Elk  Gold potential resource. It had been noted previously that the  high-nugget effect of the gold deposit yielded an underestimate of the  in-situ gold grade based on the assays generated from surface diamond  drill holes. The bulk sample program will provide a confirmation of  this hypothesis for the Elk Gold project. 

 In addition, the bulk sample will provide more information on the  structural and grade continuity as well as mining and milling  characteristics for the Elk gold-bearing structures. 

 Information gained from the bulk sample program will be invaluable for  the planning of the production phase for the Elk Gold project. This  step towards the production of the Elk Gold deposit will be most  critical for future planning and optimization. 

 The Company's Senior Geologist, Robert Wilson, P.Geo., acts as the  Company's Qualified Person for technical disclosure per National  Instrument 43-101, and has reviewed and approved the technical content  of this press release. 

 About Gold Mountain Mining 

 Gold Mountain is a new public resource company managed by an experienced  team of professionals with a solid track record of exploration and  development success.  The Company owns 100% of the 16,700 hectare Elk  Gold project, which the Company intends to develop into a precious  metal producer within the next two years, and is also seeking  additional near-term production assets to further build shareholder  value.  Additional information is available on Sedar.com or on the  Company's new website at www.aumtn.com. 

 Neither the TSX Venture Exchange nor its Regulation Services Provider  (as that term is defined in the policies of the TSX Venture Exchange)  has reviewed or accepts responsibility for the adequacy or accuracy of  this Release. 

 ON BEHALF OF THE BOARD 

 "Chris McLeod" (signed) Chris McLeod, President & CEO 

  

 Forward-Looking Statements:  This news release contains forward-looking  statements that are based on the Company's current expectations and  estimates. Forward-looking statements are frequently characterized by  words such as "plan", "expect", "project", "intend", "believe",  "anticipate", "estimate", "suggest", "indicate" and other similar words  or statements that certain events or conditions "may" or "will" occur,  and include, without limitation, statements regarding the closing of  further tranches of the Offering, the use of proceeds from the   Offering and the Company's plans with respect to the exploration and  development of its projects. Such forward-looking statements involve  known and unknown risks, uncertainties and other factors that could  cause actual events or results to differ materially from estimated or  anticipated events or results implied or expressed in such  forward-looking statements. Any forward-looking statement speaks only  as of the date on which it is made and, except as may be required by  applicable securities laws, the Company disclaims any intent or  obligation to update any forward-looking statement, whether as a result  of new information, future events or results or otherwise.  Forward-looking statements are not guarantees of future performance and  accordingly undue reliance should not be put on such statements due to  the inherent uncertainty therein. 

Gold Mountain Mining Corporation


CONTACT:  Chris McLeod President & CEO or Rod Shier, Chief FinancialOfficer at604 558-4653 


    

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