Black Mountain Gold Closes Private Placement for Proceeds of CDN $5,000,000

Vancouver, British Columbia--(Newsfile Corp. - February 12, 2021) - Black Mountain Gold USA Corp. (BMG: TSXV) ("BMG" or the "Company") announced on January 19, 2021 that it was engaging in a non-brokered private placement (the "Private Placement") of 10,000,000 units at a price of CDN $0.40 per unit, for gross proceeds of CDN $4,000,000. On January 22, 2021 the Company announced that, as a result of strong investor interest, the Company was increasing the Private Placement to 12,500,000 units (the "Units") at a price of CDN$0.40 per Unit for proceeds of CDN$5,000,000.

The Company wishes to announce that it has closed the Private Placement of the 12,500,000 Units for proceeds of CDN$5,000,000

Each of the 12,500,000 Units consisted of one common share and one-half share purchase warrant, each whole share purchase warrant (each, a "Warrant") being exercisable for a period of two years until February 12, 2023 at a price of CDN$0.60 per share. The Warrants are subject to an accelerated expiry in the event the common shares of the Company trade on the Exchange at a price of CDN$1.00 or higher for 10 consecutive trading days.

A finder's fee of 8% cash was payable on a portion of the Private Placement for a total of CDN$120,880 paid.

The common shares comprising part of the Units and any common shares issued upon exercise of the Warrants are subject to a four month Exchange hold period expiring on June 13, 2021.

Proceeds of the Private Placement will be used to advance exploration of the Company's Mohave Gold Project and for general working capital purposes.

Graham Harris, CEO commented, "We are pleased to close this oversubscribed financing and look forward to ramping up our 2021 work program."

To find out more about Black Mountain Gold USA Corp. please contact Investor Relations at (604) 662-8184 or email


"Graham Harris"

CEO, Director

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

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Arizona which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for gold/silver, changes in exploration costs and government royalties, export policies or taxes in Arizona and other factors or information. The Company's current plans, expectations and intentions with respect to development of its business and of the Mohave Gold Project may be impacted by economic uncertainties arising out of Covid-19 pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Mohave Gold Project. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.


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