Exciting Drilling Outcomes at the São Jorge Project in Brazil

GoldMining Inc. Reports Promising Drilling Outcomes

GoldMining Inc. (the "Company" or "GoldMining") (TSX: GOLD) (NYSE American: GLDG) has announced exciting results from its auger drilling program at the São Jorge Project, situated in the renowned Tapajós gold district of Brazil. This project, covering an impressive 460 square kilometers, continues to reveal substantial exploration potential as evidenced by recent high-grade assays from the auger drilling conducted in 2024.

Key Highlights from the Drilling Program

The auger drilling initiative has discovered multiple gold-in-bedrock targets that lie beneath significant surface soil anomalies. Noteworthy assay results highlight several intercepts exceeding 1 gram per tonne (“g/t Au”), including remarkable values such as:

• 1 meter at 10.2 g/t Au from 14 meter depth
• 5 meters at 2.78 g/t Au from 10 meter depth
• 3 meters at 1.05 g/t Au from 12 meter depth

Moreover, three contiguous gold-in-bedrock targets, particularly around the William South zone, have demonstrated the potential for further gold discoveries. The area is characterized by a multi-kilometer gold trend defined by soil and auger drill anomalies, approximately 2 km north of the São Jorge deposit.

Strategic Future Drilling Plans

As of now, only 13% of the extensive gold-in-soil anomalies have been tested using auger drilling. The company plans to continue systematic auger drilling into 2025, aiming to delineate additional gold-in-bedrock targets while preparing for more in-depth drilling to potentially uncover new gold resources at São Jorge.

The São Jorge Project Overview

GoldMining has been methodically executing its exploration strategy at the São Jorge site since May 2024, investigating both existing deposits and untouched areas rich in identified gold targets. This initiative is crucial as it confirms the historical production of over 20 million ounces of gold in the Tapajós region through artisanal mining activities.

Importantly, the location of the São Jorge Project is advantageous, being close to vital infrastructure including paved highways and power lines which connects to the district's electrical grid. This logistical support is essential for the exploration activities, which are managed from a permanent camp situated just 3 km from the highway.

Details of the 2024 Auger Drilling Program

The 2024 auger drilling program encompassed an impressive 3,098 meters across roughly 206 holes, completed in September 2024. This undertaking primarily targeted the prominent 'William South' area characterized by a broad high-tenor gold anomaly. Soil assays collected have showcased exciting values peaking at 2,163 ppb Au (2.163 g/t Au).

The method used in the auger program incorporated a powered rotary drill that allows penetration depths of 15-20 meters, enabling significant discoveries within shallow bedrock. The results from the drilling program further confirm the presence of gold-bearing mineralization in various locations across the property.

Quality Assurance and Data Verification

The rigorous quality control measures implemented by GoldMining include comprehensive data verification protocols. For core samples, precise techniques including sawing and splitting were utilized, allowing significant data retention for future analysis. The analysis of assays is conducted by reputable laboratories to ensure reliability in results.

About GoldMining Inc.

GoldMining Inc. is a significant player in the mineral exploration sector, focusing on acquiring and developing valuable gold assets in the Americas. The company has strategically positioned its portfolio to include diverse resource-stage gold and gold-copper projects in key South American countries as well as in North America. Moreover, it holds substantial shares in several gold-related enterprises, further diversifying its market presence.

Frequently Asked Questions

What are the recent developments in the São Jorge Project?

The recent auger drilling program has yielded encouraging high-grade results, identifying new gold-in-bedrock targets with promising assay values.

When are follow-up drilling activities planned?

GoldMining plans to continue with systematic auger drilling into 2025 to delineate further gold-in-bedrock targets.

What techniques are employed for the auger drilling program?

The program employs a powered rotary drill capable of reaching depths between 15-20 meters, focused on identifying primary gold mineralization.

Where is the São Jorge Project located?

The São Jorge Project is strategically located within the Tapajós gold district, an area known for historically high gold production.

What is the importance of the São Jorge drilling results?

The results are instrumental in defining potential new corridors of gold mineralization, enhancing the project’s overall resource prospects and exploration strategy.

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