GoldMining Inc. Drives $2B NPV at Whistler Gold‑Copper Project With 5,000m Drilling & Rising Gold Prices

Overview

GoldMining Inc. (NASDAQ: USGO) continues to advance its exploration and development agenda across several key assets. The company’s 2026 program focuses on the Whistler Gold‑Copper Project in Alaska, while also maintaining operational priority on the São Jorge project and holding strategic interests in the Whistler region. Recent developments are accompanied by favorable macro‑environmental factors, including a rebound in the gold spot price and supportive U.S. federal policy initiatives.

Exploration Program Update – Whistler Gold‑Copper Project

• Drilling Progress: 11 diamond‑core drill holes totaling over 5,000 meters have been completed across eight distinct targets within the Whistler Orbit area.
• Targets: Active drilling is underway in the Whistler‑Raintree district, with additional work on Long Lake Hills, Muddy Creek, Snow Ridge, and Island Mountain.
• Assay Timeline: Initial assays for the completed holes are expected in the coming weeks.
• Economic Assessment: The exploration program builds on the previously announced preliminary economic assessment (PEA). Using only the estimated indicated mineral resources from the main Whistler deposit, the PEA models an after‑tax net present value (NPV₅ %) of $2.0 billion at a 5 % discount rate, an internal rate of return (IRR) of 33 %, and an initial payback period of 2.1 years at base‑case prices.

Policy and Market Context

• Federal Engagement: On 24 August 2026, GoldMining hosted members of the U.S. House of Representatives and senior congressional staff for a visit to the Whistler site, underscoring policy support for the project.
• Gold Market Conditions: The gold spot price has recovered to nearly $4,700 USD per troy ounce, the highest level since 14 May. This rebound is linked to the expansion of U.S. Treasury bond repurchases announced on 19 August, which lifted yields, dollar strength, and gold prices by approximately 3 %.
• Resource and Financing Considerations: While higher metal prices enhance project economics, GoldMining notes that resource quality, technical feasibility, regulatory approvals, capital access, and cost structures remain critical determinants of long‑term viability.

Operational Focus – São Jorge and Whistler

GoldMining has shifted its operational focus to the São Jorge project, positioning it as a core asset for upcoming development stages. Simultaneously, the company retains additional interest in Whistler, aligning with its exploration strategy to generate a pipeline of new porphyry discoveries that could drive long‑term resource expansion.

Financial Snapshot

GoldMining’s negative P/E reflects its continued investment in exploration and development, positioning the company for future growth as its projects mature.

All figures and statements are derived from the information provided in the news releases dated 27 and 28 August 2026, and the company’s publicly available financial data.