SOURCE: Gold Mountain Explorations

June 12, 2007 08:00 ET

Gold Mountain Intersects Gold-Silver Mineralization at Yoquivo; El Indio Surface Discovery Yields 33.50 g/t Gold, 3,230 g/t Silver

TORONTO--(Marketwire - June 12, 2007) - Gold Mountain Exploration (OTCBB: GMEX) ("Gold Mountain" or the "Company") and partner West Timmins Mining Inc. (TSX: WTM) announced today that initial drill testing of the Yoquivo Project has intersected multiple zones of silver-gold mineralization. Surface mapping conducted during the on-going drill program has also identified two new, high-grade gold-silver mineralized vein systems. The Yoquivo Project covers the entirety of the historic Yoquivo Mining District and is located 35 km southeast of the recently opened Ocampo Gold--Silver Deposit.

Vein and Stockwork Silver-Gold Targets Intersected

Three diamond drill holes have now been completed on the Yoquivo Project. Hole Y07-01 targeting the El Gambusino vein returned 289 g/t silver and 2.18 g/t gold over a 70 cm width at a vertical depth of approximately 32.00 metres. A second zone of anomalous silver-gold mineralization was intersected deeper in the hole (Table 1).

Diamond drill hole Y07-02, collared 590 metres northeast of hole-01, tested the southern end of the Muralla trend. Muralla is a silver-gold mineralized quartz stockwork zone developed over widths of 5 to 40 metres. Hole Y07-02 intersected a quartz stockwork zone and anomalous silver and gold over 27.50 metres. The core of this zone returned 12.00 metres averaging 40.18 g/t silver and 0.15 g/t gold.

Drill hole Y07-03 targeting the northern portion of the Muralla and the La Nina mineralized trend has been completed and results are pending. The 3,000 metre Phase 1 drill program will also target extensions to the high-grade San Francisco mine (historically reported production grade of 10.90 g/t gold and 1,120 g/t silver) and other mineralized structures including the recently discovered El Indio system (see below).

Hole        From              To          Interval  Gold  Silver
No.  (Meters Down Hole) (Metres Down Hole) Metres    g/t  g/t
Y07-01     41.10            41.80          0.70     2.18  289.00
          185.75           188.40          2.65     0.41   32.68

Y07-02    102.00           114.00         12.00     0.15   40.18
Table 1: Drill Intercepts, Yoquivo Project - intervals are interpreted to represent 115-120% of true thicknesses.

High Grade Surface Mineralization at El Indio, Lucero

Geological mapping has identified two new gold-silver mineralized structures. The El Indio vein-breccia system is located 250 metres east of, and parallel to, the historic San Francisco mine trend. Eight grab samples collected over 270 metres along the strike of this vein-breccia system returned values ranging from 0.544 to 33.50 g/t gold and 39.1 to 3,230 g/t silver.

The Lucero occurrence is located 350 metres west of the western-most mineralized trend previously identified on the property. Three grab samples collected from historic workings on this structure returned an average grade of 10.63 g/t gold and 169.6 g/t silver. Initial drill testing of the El Indio system will be included in the current drill program and a systematic sampling will be initiated in the Lucero area.

Quality Control and Assurance

Geochemical results reported herein are from halved drill core and grab samples collected from surface on the Company's Yoquivo Project. Core sampling is conducted on site by trained personnel and sealed samples are transported to ALS-Chemex's preparation facilities in Chihuahua, Mexico by employees of consulting firm Minera Cascabel S.A. de C. V. on behalf of West Timmins Mining Inc. The remaining half of the drill core is stored in a secure facility on the project site. Grab samples are sealed on site and similarly transported.

All samples were assayed for gold by standard fire assay-ICP finish with a 50 gram charge. Samples additionally underwent 34 element ICP-MS analysis. Gold values in excess of 3.00 g/t were re-analyzed by fire assay with gravimetric finish for greater accuracy. Silver, zinc, copper and lead values in excess of 100 ppm, 1%, 1% and 1%, respectively, were also repeated by fire assay. For quality control purposes blank and analytical control standards were inserted into the sample sequence at regular intervals -- no discrepancies are reported.


Gold Mountain's corporate website can be found at Details of the Yoquivo Au-Ag Property can be found under the Projects section of the website. A detailed PowerPoint presentation is also available on the company home page under the Quick Link section. Shareholders are advised to sign up to the company e-mail distribution list in order to stay up to date with company developments.

Gold Mountain Explorations ("Gold Mountain") (OTCBB: GMEX) is a mineral exploration company focused on Gold-Silver exploration in the Sierra Madre Occidental Gold-Silver Province of Mexico. The Sierra Madre Occidental Gold Province is the primary gold/silver trend in Mexico. Gold Mountain has entered into a 50/50 joint venture with West Timmins Mining Inc on the 2500 hectare Yoquivo Au-Ag Property in the Yoquivo District, Chihuahua State, Mexico.

Forward-Looking Statements:

This press release contains forward-looking statements, particularly as related to, among other things, Gold Mountain's business strategy. The words or phrases "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers" or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, and other factors that may cause Gold Mountain's actual results, performance or achievements, or developments in its industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks, uncertainties and other factors that are detailed in Gold Mountain's Quarterly and Annual Reports and other documents Gold Mountain files from time-to-time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Gold Mountain cautions readers not to place undue reliance on such statements. Gold Mountain does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from Gold Mountain's expectations and estimates. Gold Mountain Explorations

Contact Information

  • Contact:
    Adam Cegielski
    (905) 882-7044