A Rocky Road to Recovery Reiterates the Importance of Gold

FinancialBuzz.com News Commentary

NEW YORK, June 4, 2021 /PRNewswire/ -- Gold prices increased nearly 8% throughout the month of May, making it the best month for the yellow metal since July of last year. The value of gold is difficult to predict, as it depends on many economic variables as well as on decisions made by the Federal Reserve. However, gold is often viewed as a safe haven in times of economic and political uncertainties. Timothy Ord, President and Editor of The Ord Oracle, explained according to Kitco that "we could see $2,700 around the year 2024 just because of the timing of the rally - from the bottom in 2016 to almost $2,100-high in August 2020. That leg-up lasted four years. Then from the August high, we went down to the March lows of this year. And now, we are beginning the second half of the rally." Gold Mountain Mining Corp. (TSX-V: GMTN) (OTC: GMTNF), New Gold Inc. (NYSE: NGD), Prime Mining Corp. (TSX-V: PRYM) (OTC: PRMNF), Sun Summit Minerals Inc. (TSX-V: SMN) (OTC: SMREF), Equinox Gold Corp. (NYSE: EQX)

Despite the recovering economy and lower number of pandemic cases in the U.S., the government is still injecting liquidity into the financial system, as fiscal and monetary stimuli are being implemented. These measures, which are meant to help bring the economy back to pre-pandemic highs, have consequences, specifically the devaluation of the dollar and inflation. Gold is widely viewed as an inflation hedge - a reliable measure of protection against purchasing power risk.

Gold Mountain Mining Corp. (TSX-V: GMTN) (OTCQB: GMTNF) announced yesterday breaking news that, "it has successfully executed three Memorandum of Understanding's ("MOU") with surrounding Indigenous communities, establishing a process for ongoing engagement towards social and economic collaboration.

'By taking an inclusive approach since we acquired the project, we continue to build a strong foundation with surrounding Indigenous communities and governments,' stated Kevin Smith, CEO of Gold Mountain Mining. 'The MOU's and mining contract with Nhwelmen-Lake are a result of our positive engagement and provide the company with momentum as we continue to scale this project through collaborative partnerships.'

Memorandum of Understanding

The MOU's will strengthen Gold Mountain's corporate initiative and further showcase the Company's efforts to prioritize its investment in Indigenous communities within the Nicola Thompson region. The execution of the MOU's represents the Company's commitment to open and collaborative working relationships between the Indigenous communities for all activities at the Elk Gold Project moving forward.

Nhwelmen-Lake LP

Additionally, Gold Mountain's mining contractors Nhwelmen-Lake LP, a majority Indigenous owned excavating company, are currently mobilizing equipment and are set to begin mine construction at the Elk Gold project. This endeavor is forecasted to provide up to 30 on site job opportunities and will help strengthen the region's economy for the next 10 years."

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New Gold Inc. (NYSE: NGD) reported last month that the Mines Act permit enabling mining of the B3 zone was issued by the Ministry of Energy, Mines and Low Carbon Innovation. "This is a significant milestone for the New Afton Mine," stated Renaud Adams, President & CEO. "With the receipt of the B3 permit, ore extraction activities will begin this quarter and ramp-up over the year. C-Zone development continues to advance with C-Zone extraction expected to begin in the second half of 2023." As previously announced, the C-Zone permitting process was initiated during the first quarter with the submission of the pre-application package to the Ministry of Energy, Mines and Low Carbon Innovation, Ministry of Environment and Climate Change Strategy and Indigenous groups.

Prime Mining Corp. (TSX-V: PRYM) (OTCQB: PRMNF) reported back in April additional positive results from its ongoing 15,000-metre Phase 1 drill program at its wholly owned Los Reyes gold-silver project in Sinaloa State, Mexico. Currently, 5 diamond drills are active until the commencement of the rainy season in August 2021. The results announced today include initial core assay results from the Zapote-South, Noche Buena and San Miguel East deposits, which are three of eight known deposits that comprise the current mineral resource at Los Reyes. Thirteen drill holes are being reported on, including eight holes from Zapote-South, four from Noche Buena and one from San Miguel East.

Sun Summit Minerals Inc. (TSX-V: SMN) (OTC: SMREF) reported in May initial drill results from its fully funded, 2021 exploration program on its Buck Property, central B.C. Assays from five of the 18 completed holes are reported. Bob Willis, Sun Summit's CEO, stated: "The 2021 program has started off with exceptional results. Our first hole in the Horseshoe zone cut a long and continuous interval of significant gold mineralization which contained a high-grade zone which clearly indicates the potential of high-grade sweeteners within bulk tonnage-style grades.

Equinox Gold Corp. (NYSE: EQX) announced back in May its first quarter 2021 summary financial and operating results. Christian Milau, CEO of Equinox Gold, commented: "It's certainly been a busy start to the year with closing of the Premier Gold acquisition, subsequent integration of the Mercedes Mine and Greenstone Project into our portfolio, and increasing our interest in Greenstone to 60%. We also commenced early works construction at Greenstone, Santa Luz construction is 30% complete and on track for first gold early next year, the Los Filos expansion is underway and we are making good progress opening up the higher-grade Brownie deposit at Mesquite.

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