PEA Technical Report For The Whistler Project

ANCHORAGE, AK – U.S. GoldMining Inc. has filed an S-K 1300 technical report summary and a Canadian National Instrument 43-101 (NI 43-101) technical report respecting the initial economic assessment for the initial economic assessment (PEA) on the Whistler Gold-Copper Project
After-tax net present value at 5% discount rate (NPV5%) of $2.0 billion, an internal rate of return (“IRR”) of 33%, and initial payback of 2.1 years, at Base Prices. At spot prices, the estimated after-tax NPV5% increases to approximately $4.9 billion, an IRR of 62%, and initial payback of 1.2 years. Annual production of 345,000 gold equivalent (AuEq) ounces (oz) over the first three years. Life of mine (LOM) average annual production of 246,000 oz AuEq over the initial 14.6 year mine life. At Base Prices, approximately 25% contribution from copper, a designated critical mineral by the U.S. Department of the Interior. Initial capital expenditures of approximately US$1.3 billion, including a 20% contingency, and LOM All-In Sustaining Costs (“AISC”) of $1,046 per gold ounce (by-product basis). The PEA considers only one of three deposits on the property with stated Resources. Several additional targets nearby the Whistler deposit have been identified for further exploration.
Tim Smith, Chief Executive Officer, said, “With the completion of our Whistler PEA we’ve achieved a major milestone for the Project and the Company. We are extremely pleased with the results of the PEA, which delivers exceptional value and sets a solid foundation for the Whistler Project. We look forward to continuing to advance mining studies at the Project in the near term. We are also encouraged about the potential to expand the model by integrating additional resources through additional work. We’re also excited about our exploration strategy across the Project to develop a pipeline of future potential discoveries building towards continued resource growth. We expect to share details of our 2026 exploration program at Whistler in the coming weeks, which includes testing of numerous promising porphyry gold-copper targets within the Whistler Orbit.”