GoldMining Advances with Technical Report for São Jorge Project in Brazil Revealing Strong Economic Potential

GoldMining Inc. Files Technical Report for São Jorge Project

GoldMining Inc. (TSX: GOLD, NYSE American: GLDG) has officially filed a significant technical report concerning its São Jorge Project located in Pará State, Brazil. This report includes a preliminary economic assessment (PEA) that sheds light on the project’s economic viability and future potential.

The technical report, titled "NI 43-101 Technical Report and Preliminary Economic Assessment for the São Jorge Gold Project, Pará State, Brazil," is dated June 9, 2026. It is now available for public viewing on the company’s profiles at SEDAR and the SEC. All financial figures in the report are expressed in US dollars unless stated otherwise.

The PEA highlighted several key economic indicators that paint a promising picture for the São Jorge Project:

1. Economic Potential: The report estimates a robust after-tax net present value (NPV) of $532 million at a discount rate of 5%, assuming a base case gold price of $3,500 per ounce. Notably, if gold prices rise to $4,400 per ounce, the NPV would increase to $836.8 million, projecting an impressive after-tax internal rate of return (IRR) of 58.6% and a payback period of only 2.4 years.

2. Capital Efficiency: The estimated initial capital requirement stands at a manageable $202 million, including a 25% contingency. This low capital threshold is further facilitated by the project's advantageous location, which is in close proximity to existing power lines, paved highways, and a skilled local workforce. The capital-to-NPV5% ratio is an attractive 2.6x, indicating a strong economic leverage.

3. Steady Production Forecast: The PEA also outlines a consistent free cash flow forecast, projecting an average gold production of about 51,250 ounces annually over a mine life of approximately 10.6 years, peaking at 57,200 ounces per year during years 2 to 4.

4. Operational Framework: GoldMining plans to utilize a conventional open-pit mining method with a processing capability of 5,500 tonnes daily. The operational strategy includes a proven processing pathway that integrates standard gravity and leaching circuits, achieving high recovery rates of around 90% for gold, which supports resilient profit margins, with an estimated all-in sustaining cost (AISC) of $1,464 per ounce.

5. Next Steps: The company aims to kick off pre-feasibility studies, further de-risking the project as it progresses towards the permitting phase and a construction decision.

Alastair Still, GoldMining’s CEO, expressed enthusiasm about the São Jorge Project and its promising economic outlook. He stated, “Filing the São Jorge Technical Report represents a critical advancement in our asset portfolio. The combination of manageable initial capital requirements, consistent gold production, and a substantial base case NPV as outlined in the PEA is very compelling.”

As the company prepares for the next stages of development, it remains focused on exploring nearby targets within its expansive multi-million ounce portfolio throughout the Americas. GoldMining is dedicated to unlocking further value across its diverse range of resource-stage projects.

For additional details about the São Jorge Project and the full technical report, interested parties are encouraged to review the document available on the company's official channels.

About GoldMining Inc.

GoldMining Inc. is a public mineral exploration company dedicated to the acquisition and development of gold opportunities across the Americas. The company has cultivated a diverse portfolio of gold and gold-copper projects in countries like Canada, the USA, Brazil, Colombia, and Peru, driven by a strategic acquisition approach that emphasizes long-term value and sustainability.