#Colombia #GoldMining #Antioquia #La Mina

GoldMining Inc. Files Technical Report for La Mina Project

On June 8, 2026, GoldMining Inc. (TSX: GOLD, NYSE American: GLDG) announced the filing of a comprehensive technical report for its La Mina Project located in Antioquia, Colombia. This detailed report, which includes the updated preliminary economic assessment (PEA) known as the 2026 PEA, highlights a robust after-tax net present value (NPV) of $1 billion and a strong internal rate of return (IRR) of 32%. With these figures, GoldMining aims to underscore the project’s economic potential and its strategic significance in their overall portfolio.

Highlights of the 2026 PEA

The technical report conveys several key financial metrics that portray the La Mina Project as a financially attractive endeavor:

• - Strong Economics: The base cases illustrate an NPV of $1 billion at a 5% discount rate, with an IRR of 32.2% and an initial payback period estimated at approximately 2.7 years, suggesting quick returns on investment.
• - Leverage to Spot Prices: The report highlights that at current commodity prices—approximately $4,775 per ounce of gold, $5.75 per pound of copper, and $77 per ounce of silver—the NPV scenarios could rise to about $1.8 billion with an IRR soaring to 49.1%, and a quicker payback of 1.9 years.
• - Capital Efficiency: Initial capital expenditures for the project are projected at $523 million, establishing an attractive 1.9 times ratio of the NPV to initial capital. This ratio reflects the project’s promising return on investment.
• - Production Forecast: La Mina anticipates an impressive average annual production of approximately 152.4 thousand ounces of gold equivalent (AuEq) during the initial five years of operation, accumulating a total of 1.5 million ounces of AuEq across an expected mine life of 11.2 years.
• - Cost Profile: The report estimates a total cash cost of $872 per ounce of gold alongside an all-in sustaining cost (AISC) of $1,045 per ounce, calculated on a by-product basis, showcasing a resilient cost structure.
• - Operational Model: The PEA outlines a conventional open-pit mining operation, utilizing a truck-and-shovel approach with a processing capacity set at 15,000 tonnes per day, employing recognized techniques to achieve high metallurgical recoveries of 91% for gold, 80% for copper, and 64% for silver.

CEO Statement

Alastair Still, CEO of GoldMining, remarked on the significance of this report, stating, "The completion of the updated La Mina PEA marks a significant milestone for GoldMining as we actively advance our Americas portfolio. This study effectively illustrates strong economic fundamentals for the project in conjunction with its exceptional leverage to the current metal price environment." He emphasized that the $1 billion NPV underscores the intrinsic value and growth potential, which can be enhanced further through targeted exploration and development efforts.

Cautionary Notes

It is critical to mention that the PEA is preliminary and holds various assumptions about the economic viability of resources. The projected results are not guaranteed, and the report's estimates concerning inferred mineral resources carry a substantial level of uncertainty and thus should not be interpreted as commitments.

GoldMining remains committed to advancing its endeavors in Colombia, aiming to unlock further value from its resource assets through continuous exploration and development. For detailed information on the project and PEA, parties interested can refer to the full technical report available through the company’s profiles on regulatory platforms, such as SEDAR and the SEC.

About GoldMining Inc.

GoldMining Inc. is a public mineral exploration company concentrating on acquiring and developing gold resources across the Americas. With a strategic acquisition approach, GoldMining boasts a diversified portfolio of gold and gold-copper projects across Canada, the United States, Brazil, Colombia, and Peru.

This technical report serves to reinforce the strategic growth trajectory GoldMining is pursuing and highlights a positive outlook for stakeholders in the company’s future endeavors in the mineral exploration sector.