Field Teams Mobilized To Execute 2023 Exploration Program At Whistler Gold-Copper Project

VANCOUVER  U.S. GoldMining Inc. reported on the successful completion of its initial public offering in April 2023 - in which the 2023 exploration program and budget was approved. The Company has started executing its plans to unlock the value of the Company's Whistler gold-copper project in Alaska, and has mobilized field teams to commence exploration activities. Phase 1 of the Company's inaugural exploration program has commenced with field crews undertaking rehabilitation work on the existing Whistler camp which will enable the commencement of core drilling, mine engineering and environmental baseline studies later in the 2023 summer field season.

The Company is fully permitted to commence exploration activities at Whistler following the receipt of permits in September 2022 from the Alaska Department of Natural Resources, and the exploration program is fully funded following the recently completed IPO. U.S. GoldMining is committed to responsible exploration and mining practices and strives to make investments that support the local economy, environmental sustainability and social responsibility.

Tim Smith, Chief Executive Officer, said, “We are now fully funded and permitted to start our inaugural exploration program at Whistler. We have engaged leaders in the industry with significant local knowledge to execute our exploration plans and we are excited to commence the Phase 1 program. With several exploration targets already identified, we are eager to get to work and drive forward the rediscovery of Whistler."

The Whistler camp contains the essential infrastructure and equipment required to re-start exploration this coming summer. The camp is located adjacent to the fully operational Whiskey Bravo Airstrip and just 6 kilometers from the Whistler gold-copper deposit via an existing access road. Renovation of the existing camp and construction of additional facilities to support operational requirements is expected to be completed in July 2023, ready for commencement of exploration activities and drilling by August of this year.