#Canada #GoldMining #Uranium #Alberta #Rea Project

GoldMining Inc. Advances Rea Uranium Project with Drilling Approval

GoldMining Inc., listed on TSX as GOLD and NYSE American as GLDG, is excited to announce a significant milestone for its Rea Uranium Project located in Alberta, Canada. The Alberta Energy Regulator has officially approved the proposed metallic minerals exploration program aimed at this promising site in the Western Athabasca Basin.

Project Highlights

The Rea Project is a collaboration with Orano Canada Inc., wherein GoldMining holds a 75% stake compared to Orano’s 25%. The project's land spans approximately 125,328 hectares and is strategically positioned next to Orano's high-grade Dragon Lake prospect, which is part of their Maybelle River project. This location is key, as it is approximately 60 kilometers away from some of the world's most substantial uranium deposits, including Paladin Energy Limited's Triple R deposit and NexGen Energy Inc.'s Arrow deposit, both currently under development.

Exploration Plans

The approved exploration endeavors at the Rea Project will involve an extensive drilling program incorporating diamond core drilling with up to 15 drillholes. The planned drilling could be executed using either a small portable tracked or skid-mounted rig for ground-based sampling or a helicopter-portable rig, allowing for flexibility depending on site-specific conditions.

Drillholes are anticipated to reach depths of up to 500 meters, aiming for a total drilling distance of approximately 7,500 meters. Additionally, GoldMining has received a favorable consultation adequacy decision from the Aboriginal Consultation Office of Alberta, demonstrating the company's commitment to engaging with local Indigenous communities during the exploration phase.

Alastair Still, the CEO of GoldMining, remarked on the importance of this approval in advancing their strategy to unlock additional value for shareholders. He pointed out that preliminary analysis has identified key areas for follow-up exploration within three distinct corridors, totaling over 70 kilometers of promising drill targets that resonate with the geophysical signatures of known uranium deposits in the Athabasca Basin.

Historical Context

The Rea Uranium Project, which comprises 16 contiguous exploration permits, has a rich history of exploration, with past efforts from notable companies like Eldorado Nuclear Ltd. and Uranerz Exploration and Mining Ltd. between the mid-1970s and late 1990s. These previous explorations included geochemical surveys and diamond drilling—137 drill holes totaling 28,751 meters—which led to the discovery of the Dragon Lake prospect in 1988, showcasing high-grade uranium intersections that illuminated the area’s potential.

The Rea Project, which was staked by Brazilian Gold Corporation in 2005, has undergone significant discoveries since then. The permitting process also saw Orano gain a minority interest, solidifying a collaborative future in uranium exploration between experienced players in the industry.

Next Steps

To further hone in on uranium targets before drilling, GoldMining plans to conduct additional geophysical surveying and processing. The objective is to refine the current drilling program and explore the potential of three interpreted northwest-trending corridors that suggest significant geological structures that could lead to valuable uranium findings.

As part of GoldMining's broader strategy, the focus remains on building robust relationships with Indigenous communities and stakeholders while pursuing mineral exploration that aligns with environmental and social responsibility.

As the exploration plans for the Rea Uranium Project unfold, the investment community and stakeholders will watch closely, as the outcome could prompt a new era of activity in the Alberta mining sector, reaffirming Canada’s standing in the global uranium market.

About GoldMining Inc.

GoldMining Inc. is dedicated to the exploration and acquisition of gold resources throughout the Americas. With a strong portfolio encompassing various resource-stage projects in Canada, the USA, Brazil, Colombia, and Peru, the company aims to leverage its strategic acquisitions for sustained shareholder value. For more details about GoldMining, visit their website at www.goldmining.com.