#United States #Anchorage #Alaska #U.S. GoldMining #West Susitna

U.S. GoldMining Provides Update on West Susitna Access Project

Anchorage, Alaska - In an exciting development for the mining and infrastructure sector, U.S. GoldMining Inc. (NASDAQ: USGO) has shared important updates regarding the proposed West Susitna Access Project (WSAP). This initiative, which is overseen by the state, aims to link the Whistler Gold-Copper Project to existing highways, railways, ports, and power facilities in Southcentral Alaska.

Funding Authorization for Vital Work

On August 27, 2026, the Alaska Industrial Development and Export Authority (AIDEA) approved funding of up to $25 million. This capital will finance critical geotechnical drilling programs, along with necessary permitting, hydrological, and engineering work crucial for advancing the WSAP. The geotechnical data obtained will play an essential role in finalizing the design of the proposed road.

According to Tim Smith, the Chief Executive Officer of U.S. GoldMining, this funding marks a significant step forward not only for the Whistler project but also for the broader West Susitna Mineral District. Smith expressed appreciation for the state of Alaska and AIDEA's commitment and discussed the important role this project will play in supporting the Alaskan economy and enhancing U.S. domestic mineral security.

Project Overview and Plans Ahead

The WSAP encompasses a 22-mile public road spearheaded by the Alaska Department of Transportation and Public Facilities (ADOTPF), along with a 78.5-mile public-private road managed by AIDEA. This road will terminate at U.S. GoldMining’s exploration camp situated near the Whistler deposit, significantly reducing travel times and logistical complexities for resource exploration in the region.

The road project’s objectives include not only improving access but also unlocking an array of natural resource development projects in the West Susitna Mining District. This could pave the way for establishing a prominent mining hub rich in infrastructure in Alaska.

Bill Kendig, Chair of the AIDEA Board, reiterated the board’s unwavering support for the WSAP, highlighting its strategic importance. He noted that this infrastructure is designed to provide opportunities for Alaskans both now and in the future. Furthermore, Brandon Brefczynski, AIDEA’s Deputy Executive Director, stressed that this initiative transforms theoretical routes into actual roads, thereby accelerating development efforts.

Technical Aspects of the Project

The newly allocated $25 million will cover vital elements including seismic surveys at proposed bridge sites, evaluations of material sites for gravel and fill, and preparations for state and federal permit applications necessary for construction phase drilling.

The project is intended to facilitate connections between existing roads, power, and rail infrastructure in Anchorage and future natural resource developments. Specifically, the anticipated Whistler Gold-Copper Project demonstrates impressive economic indicators, including an after-tax net present value (NPV) of $2 billion, a 33% internal rate of return (IRR), and a payback period of just over two years.

Conclusion

As work on the WSAP progresses, U.S. GoldMining anticipates continued collaboration with governmental and local stakeholders. The company remains committed to enhancing the economic landscape of Alaska through this vital infrastructure project while reinforcing its position in the critical minerals sector. As the project unfolds, it promises not only to create essential pathways but also to bolster the local economy and increase resource accessibility.

For more information about U.S. GoldMining and its initiatives, visit www.usgoldmining.us.