Gold Mountain Drills 31m at 5,030ppm TREO and Maps 12km Lithium Anomaly Corridor

Exploration Breakthroughs in Brazil

Gold Mountain Limited (ASX – GMN) has marked a pivotal quarter ending December 2025, showcasing its growing expertise in exploring critical minerals in Brazil. The company’s efforts at the Irajuba Rare Earths Prospect and Salinas South Lithium Prospect have moved beyond early-stage exploration, delivering drill results and geochemical data that validate their geological models and underpin the potential for resource definition.

At Irajuba, located within the Down Under Project in Bahia, Gold Mountain successfully transitioned a conceptual exploration target into a drill-validated rare earth system. Diamond drilling confirmed thick, laterally continuous mineralisation hosted in saprolite and saprock, with grades closely matching initial predictions. Notably, the magnet rare earth oxide (MREO) content averaged around 50% of total rare earth oxides, a metric that positions Irajuba favourably against many global rare earth projects. This high proportion of magnet rare earths is particularly significant given their value in permanent magnets and emerging technologies.

Lithium Potential in the Lithium Valley

Meanwhile, at Salinas South in Minas Gerais’ renowned Lithium Valley, Gold Mountain’s extensive stream sediment sampling revealed multiple lithium anomaly corridors extending up to 12 kilometres. These anomalies align with northeast-trending structural controls and fertile granite margins, mirroring the geological settings of established lithium producers in the region. The presence of pathfinder elements such as tantalum and rubidium, alongside artisanal workings, adds confidence that the company is targeting genuine lithium-bearing pegmatite systems. The discovery of significant gold anomalies further enhances the prospectivity of the area.

Financial and Corporate Developments

To support its advancing exploration programs, Gold Mountain raised $3.57 million through an accelerated pro-rata entitlement offer and placement, priced between 5 and 6.5 cents per share. This capital injection is earmarked for the next phases of drilling in Brazil. Additionally, the company announced the pending sale of its Papua New Guinea assets for $2 million, subject to due diligence, with proceeds intended to bolster Brazilian exploration and working capital.

Exploration expenditure for the quarter was $1.605 million, reflecting active fieldwork and technical studies, while no production or development activities were reported. The company ended the quarter with $1.447 million in cash, representing approximately 0.65 quarters of funding based on current outgoings. Management remains confident in securing further funding through asset sales and capital markets to sustain operations.

Strategic Outlook

Gold Mountain’s achievements in the December quarter underscore its technical capability and strategic focus on globally critical minerals. The Irajuba project’s high-grade rare earth mineralisation and the extensive lithium anomalies at Salinas South collectively position the company to transition from exploration to resource definition. Upcoming work will include further diamond drilling, metallurgical testing to confirm extraction viability, and soil sampling to refine lithium drill targets.

With a strengthened portfolio and capital base, Gold Mountain is poised to unlock value in Brazil’s mineral-rich provinces, aligning with global demand for rare earths and lithium essential to clean energy technologies and electric vehicles.