Drilling Program At São Jorge Project

VANCOUVER – GoldMining Inc. reported on the 2025 RC drilling program at its São Jorge Project in the Tapajós gold district, Pará State, Brazil. The ongoing program, including reverse circulation (RC) drilling is designed to test new targets outside of known areas of mineralization and is the most extensive exploration program undertaken by the Company to date. Results from other components of the program, including drilling designed to target expansion of the São Jorge deposit, will be reported as results are available. There has been new exploration discoveries at four new gold prospects within 3.5 kilometre (km) radius of the existing São Jorge deposit. 

Drill intercepts at Dragon West include: 1) 1 metre (m) at 5.98 grams per tonne (“g/t”) gold (Au) from 19 metres (m) depth (SJRC-004-25). 2) 1 m at 3.08 g/t Au from 2 m depth (SJRC-006-25). Drill intercepts at William North include: 1) 1 m at 2.90 g/t Au from 49 m depth (SJRC-032-25). 2) 1 m at 1.75 g/t Au from 44 m depth (SJRC-033-25). Drill intercepts at Ivonette include: 1) 9 m at 0.43 g/t Au from 1 m depth (SJRC-043-25),including 1m at 1.06 g/t Au from 4 m depth.

Drill intercepts at William South include: 1) 4 m at 1.78 g/t Au from 12 m depth (SJRC-46-25), including 1 m at 5.03 g/t Au.

A total of 8,514 metres of drilling completed to date, comprising 3,862 m diamond core, 2,553 m RC and 2,100 m auger drilling, of a total planned drilling program of up to 5,000 metres diamond core and 3,000 metres auger drilling. For the first time ever on the Project, RC drilling was introduced, which replaced some of the budgeted diamond core drilling as a cost effective method to test multiple shallow targets. A significant number of diamond core, RC and auger samples are currently being processed at the laboratory and/or undergoing quality assurance and quality control procedures.

Further planned activities include the resumption of RC drilling in the near-term to complete step out drilling on the new discoveries, and potential for additional follow-up diamond core drilling. A number of additional surface geochemical anomalies support potential expanded auger drilling. Geophysical surveying including Induced Polarisation (“IP”) is currently underway. Airborne LiDAR survey completed to assist with mapping and sampling programs.

Alastair Still, Chief Executive Officer, said, “GoldMining is excited to report initial exploration results from our 2025 exploration program designed to test for new targets, outside of known areas of mineralization, at our São Jorge Project. These initial assay results demonstrate at least 4 new zones of mineralization that have never previously been drilled, each of which occurs more than 1 km away from previously known mineralization. The nature and style of mineralization, similar to that of the existing mineral resources at the São Jorge deposit, has ideally positioned us for follow-up drilling that will be designed to better define and quantify additional near-surface mineralization occurring over a 12 km x 7 km geochemical footprint identified over the São Jorge property-scale mineral system. 

In addition to furthering our exploration of these newly identified targets, we have further exploration results pending that tested for additional zones of mineralization, including drilling that targeted extension of the known mineral resource area. The excellent infrastructure at the 46,000 hectare Project includes an existing 50-person camp and easy access to paved highway and grid power that has facilitated our exploration activities as we advance our programs to better quantify the gold endowment of this highly prospective regional-scale property in the rapidly emerging Tapajós gold district.”