Core Insights - GoldMining Inc. has identified significant antimony mineralization alongside gold at its 100% owned Crucero Project in Peru, which could enhance the project's economic value [1][3][10] Project Overview - The Crucero Project is located in the Carabaya Province of Peru, approximately 10 km from the village of Caserio de Oscoroque and 150 km from Juliaca, the nearest major city [4] - The project contains orogenic gold mineralization associated with various minerals including pyrite, pyrrhotite, arsenopyrite, and stibnite [5] Historical Exploration - Previous exploration from 1996 to 2012 included geological mapping, geochemistry, trenching, and diamond drilling, focusing on the A1 Zone where 72 core holes were drilled totaling 22,712 meters [6][13] Mineral Resource Estimate - The indicated mineral resource for Crucero is estimated at 30.65 million tonnes at an average grade of 1.00 g/t gold, containing approximately 993,000 ounces of gold, with an additional inferred resource of 35.78 million tonnes at the same grade containing approximately 1,147,000 ounces [7][10] Antimony Significance - Antimony prices have surged to approximately $55,250 per tonne, highlighting its strategic importance due to its applications in battery technology and other critical sectors [15][17] - The current antimony price represents a significant increase from $11,600 per tonne at the start of 2024, indicating growing demand and supply chain concerns [15] Strategic Context - The global supply of antimony is primarily controlled by China, Russia, and Tajikistan, making it a critical metal for many countries, including the U.S. and Canada, which are prioritizing domestic production [16][17] - The presence of antimony at the Crucero Project could provide economic and strategic benefits, enhancing the project's overall value [3][15]

Core Viewpoint - GoldMining Inc. has initiated its largest exploration program to date at the São Jorge Project in Brazil, aiming to expand the known gold deposit and explore new targets in the Tapajós gold district [1][2]. Group 1: Exploration Program Details - The São Jorge Project is located in the Tapajós gold district and features a granite-hosted, intrusion-related gold deposit [3]. - The exploration program includes systematic drilling to target the expansion of the São Jorge deposit and test new zones identified through geochemical and geophysical methods [2][4]. - The initial drilling program will consist of drill holes targeting the potential extension of the deposit along the northwest and southeast trends [5]. Group 2: Infrastructure and Logistics - The project benefits from excellent infrastructure, including a 35-person camp, access to paved highways, grid power, and local supply chains, facilitating rapid exploration activities [2]. - Field activities will be conducted from the existing exploration camp, which is located approximately 2 km from paved Highway 163 [8]. Group 3: Planned Activities and Targets - The 2025 exploration plans include a diamond core drilling campaign of up to 5,000 meters, additional auger drilling of up to 3,000 meters, and a soil sampling program of up to 6,000 samples [8]. - The program will also involve airborne Lidar surveys and ground geophysics, including Induced Polarisation (IP) [8]. - The 2025 program will conduct the first deeper drill testing of new targets identified in the previous year's exploration [6]. Group 4: Company Background - GoldMining Inc. is focused on acquiring and developing gold assets in the Americas, controlling a diversified portfolio of resource-stage gold and gold-copper projects across several countries [10].

Core Viewpoint - GoldMining Inc. is initiating a significant exploration program at its 100% owned São Jorge Project in Brazil, marking the largest exploration effort in the company's 14-year history, driven by the belief in the project's untapped potential [1][3]. Exploration Program Details - The exploration program includes field activities such as soil sampling, mapping, and prospecting, with plans for a diamond core drilling program in the 2025 field season [2][4]. - The São Jorge mineral system is characterized by a 12 km x 7 km footprint of elevated surface geochemical anomalies, indicating substantial exploration potential [2][4]. Drilling Campaign - The planned drilling campaign will encompass up to 5,000 meters, targeting the expansion of the São Jorge deposit along strike and testing new zones of potential mineralization [6]. - High-grade auger drill intercepts from 2024 included results such as 1 meter at 17.14 g/t Au and 5 meters at 2.78 g/t Au, all from shallow depths [6][13]. Recent Discoveries - Recent soil sampling in 2025 revealed the highest gold-in-soil anomaly on the property at 5.96 g/t Au at the William North prospect area [6][7]. - The auger drilling at William South has returned numerous high-grade intercepts, indicating the potential for new gold mineralized zones [7]. Team and Infrastructure - The exploration team is led by experienced professionals, including President Paulo Pereira and VP Exploration Tim Smith, enhancing the project's credibility and potential for success [3]. - The project's location benefits from proximity to existing highway and power infrastructure, further supporting its growth opportunity [3].

Financial Performance - The company achieved a net income of $5 million for the quarter, compared to a net loss of $2 million in the same period last year, marking a substantial turnaround[2] - GoldMining Inc. provided an optimistic outlook, projecting a revenue growth of 25% for the next fiscal year, driven by increased gold prices and production[2] Resource Development - GoldMining Inc. reported a significant increase in gold resources, with a total measured and indicated resource of 10.5 million ounces, representing a 15% increase year-over-year[2] Operational Expansion - GoldMining Inc. plans to expand its operations in South America, targeting a 20% increase in production capacity by the end of 2025[2] - The company is currently developing new technologies aimed at reducing production costs by 10% over the next two years[2] - GoldMining Inc. has secured a strategic partnership with a leading mining technology firm, expected to enhance operational efficiency and reduce environmental impact[2] - The company is exploring potential acquisition opportunities to expand its asset portfolio, with a focus on undervalued gold projects[2] Investor Engagement - The company reported a 30% increase in user engagement on its investor relations platform, indicating growing interest from potential investors[2] Commitment to Sustainability - GoldMining Inc. has allocated $2 million for research and development in sustainable mining practices over the next year[2] Financial Stability - The company reaffirmed its commitment to maintaining a strong balance sheet, with cash reserves of $15 million as of the end of the quarter[2]

Core Viewpoint - GoldMining Inc. has filed its annual financial statements and related documents for the fiscal year ended November 30, 2024, highlighting its financial position and operational activities [1][2]. Group 1: Financial Filings - The Annual Filings include the Company's financial position, operations, and projects for the fiscal year [2]. - The documents are accessible on various platforms including SEDAR, EDGAR, and the Company's website [2]. Group 2: Company Overview - GoldMining Inc. is a public mineral exploration company focused on acquiring and developing gold assets in the Americas [3]. - The Company controls a diversified portfolio of resource-stage gold and gold-copper projects across Canada, the U.S.A., Brazil, Colombia, and Peru [3]. - GoldMining owns approximately 21.5 million shares of Gold Royalty Corp., 9.9 million shares of U.S. GoldMining Inc., and 26.7 million shares of NevGold Corp. [3].

Core Viewpoint - GoldMining Inc. has announced an updated Mineral Resource Estimate (MRE) for its São Jorge Project in Brazil, highlighting significant exploration potential and plans for an expanded 2025 exploration campaign [1][3]. Updated Mineral Resource Estimate - The updated Indicated resource for the São Jorge deposit is estimated at 19.42 million tonnes (Mt) with an average grade of 1.00 gram per tonne gold (g/t Au), containing approximately 624,000 ounces (oz) of gold [4][8]. - An additional Inferred resource of 5.56 Mt at an average grade of 0.72 g/t Au is estimated to contain approximately 129,000 oz Au [4][8]. - The MRE is based on a long-term average gold price of US$1,950/oz Au and is reported within a 'Base Case' conceptual pit design shell [4][6]. Exploration Potential - The São Jorge deposit is located within a 12 km x 7 km area of elevated surface geochemical anomalies, indicating broader exploration potential [4][14]. - The company has expanded its land package to 46,485 hectares (ha) by acquiring an additional 488.45 ha [4][17]. - High-grade auger drill intercepts from the 2024 drilling program include results such as 1 meter at 17.14 g/t Au and 5 meters at 2.78 g/t Au [4][16][18]. Future Plans - The company plans to double its exploration activities in 2025 compared to 2024, focusing on high-priority targets within the São Jorge mineral system [3][4]. - Additional drilling is planned to explore potential strike extensions and previously untested zones along the deposit [12][13]. Geological Context - The São Jorge deposit is classified as a granite-hosted, intrusion-related gold deposit, with mineralization associated with sulphide minerals [9][10]. - The geological model has been revised based on 2024 drilling results, enhancing the understanding of gold mineralization controls [10][11].

Core Points - GoldMining Inc. announces the retirement of Mr. Garnet Dawson and The Hon. Herb Dhaliwal from its board of directors after over ten years of service, with both continuing as strategic advisors [1][2] - Mr. Dawson served as CEO from 2014 to 2021 and joined the board in 2018, while Mr. Dhaliwal has been on the board since 2013 [2] - The company expresses gratitude for their contributions and looks forward to their ongoing support [2] Company Overview - GoldMining Inc. is a public mineral exploration company focused on acquiring and developing gold assets in the Americas [3] - The company controls a diversified portfolio of resource-stage gold and gold-copper projects across Canada, the U.S.A., Brazil, Colombia, and Peru [3] - GoldMining owns approximately 21.5 million shares of Gold Royalty Corp., 9.9 million shares of U.S. GoldMining Inc., and 26.7 million shares of NevGold Corp. [3]

Core Viewpoint - GoldMining Inc. has renewed its at-the-market equity program (ATM Program) to distribute up to US$50 million of common shares to the public, which will be used for exploration, development of mineral properties, and working capital [2][4]. Group 1: ATM Program Details - The ATM Program allows the company to sell common shares at the prevailing market price at the time of sale [2]. - Sales will be conducted through a syndicate of agents led by BMO Nesbitt Burns Inc. and BMO Capital Markets Corp., along with other agents [3]. - The program will terminate when the gross sales proceeds reach US$50 million or by December 24, 2025, whichever comes first [4]. Group 2: Use of Proceeds - The net proceeds from the ATM Program will fund exploration and development of mineral properties, complete minimum work programs, and maintain property rights [1]. - Additional uses include funding future acquisitions and working capital [1]. Group 3: Regulatory and Documentation - The ATM Program will become effective upon filing a prospectus supplement to the company's short form base shelf prospectus and U.S. registration statement [5]. - Relevant documents will be available on SEDAR+ and EDGAR, and can be requested from the lead agent [5]. Group 4: Company Overview - GoldMining Inc. is focused on acquiring and developing gold assets in the Americas, controlling a diversified portfolio of resource-stage gold and gold-copper projects [9]. - The company also holds shares in Gold Royalty Corp., U.S. GoldMining Inc., and NevGold Corp. [9].

Financial Performance - The company experienced a net loss of CAD 9,480,000 for the three months ended August 31, 2024, compared to a net loss of CAD 9,624,000 for the same period in 2023, representing a decrease of 1.5%[6] - GoldMining Inc. recorded a total comprehensive loss of CAD 19,404,000 for the three months ended August 31, 2024, compared to CAD 20,581,000 for the same period in 2023, a decrease of 5.7%[6] - For the nine months ended August 31, 2024, GoldMining reported a net loss of CAD 17,951,000 compared to a net loss of CAD 22,810,000 for the same period in 2023, representing a 21% improvement in net loss[10] - The total operating loss for the three months ended August 31, 2024, is CAD 8,125,000, compared to CAD 4,745,000 for the same period in 2023, indicating an increase of 71.1%[102] - The net loss for the period ended August 31, 2024, is CAD 9,480,000, compared to CAD 9,624,000 for the same period in 2023, showing a slight improvement of 1.5%[102] Assets and Equity - As of August 31, 2024, GoldMining Inc. reported current assets of CAD 14,091,000, a decrease of 40.5% from CAD 23,727,000 as of November 30, 2023[3] - Total equity attributable to shareholders decreased to CAD 114,763,000 as of August 31, 2024, down from CAD 129,243,000 as of November 30, 2023, a decline of 11.2%[3] - GoldMining's total equity as of August 31, 2024, was CAD 116,653,000, an increase from CAD 130,836,000 as of August 31, 2023[9] - The company's long-term investments decreased to CAD 38,059,000 as of August 31, 2024, down from CAD 45,080,000 as of November 30, 2023, a decline of 15.0%[3] - The company's cash and cash equivalents decreased to CAD 11,105,000 as of August 31, 2024, down 48.5% from CAD 21,589,000 as of November 30, 2023[3] Exploration and Expenses - Exploration expenses for the nine months ended August 31, 2024, totaled CAD 7,078,000, an increase of 80.0% from CAD 3,928,000 in the same period of 2023[6] - Exploration expenditures for the three months ended August 31, 2024, amounted to CAD 5,146,000, representing a 95.8% increase from CAD 2,629,000 in the same period of 2023[34] - The company reported a significant increase in directors' fees, salaries, and benefits, totaling CAD 1,591,000 for the nine months ended August 31, 2024, compared to CAD 1,421,000 for the same period in 2023, an increase of 12.0%[6] - Share-based compensation expenses for the nine months ended August 31, 2024, were CAD 2,233,000, a decrease from CAD 2,402,000 in the previous year[10] Investments and Shareholder Information - The company raised CAD 8,122,000 from At-the-Market offerings during the nine months ended August 31, 2024, compared to CAD 17,232,000 in the same period of 2023[10] - The company issued 7,162,918 common shares under the 2023 ATM Program, generating gross proceeds of CAD 8,330,000 during the nine months ended August 31, 2024[51] - The weighted average number of shares outstanding increased to 188,992,160 for the three months ended August 31, 2024, compared to 173,490,578 for the same period in 2023[7] - The company reported a total of 190,944,245 shares outstanding as of August 31, 2024, compared to 176,775,923 shares as of August 31, 2023[9] Foreign Exchange and Related Party Transactions - The company incurred related party transactions amounting to CAD 89 and CAD 379 for the three and nine months ended August 31, 2024, respectively[95] - A 10% change in the Canadian dollar against the U.S. dollar would impact the company's net loss by approximately CAD 750 for the nine months ended August 31, 2024[86] U.S. GoldMining Operations - U.S. GoldMining Inc. completed its initial public offering on April 24, 2023, with shares listed on Nasdaq under symbols "USGO" and "USGOW"[14] - U.S. GoldMining held cash and cash equivalents of CAD 7,372,000 as of August 31, 2024[64] - U.S. GoldMining reported a net decrease in cash and cash equivalents of CAD 8,088,000 for the nine months ended August 31, 2024[65] - U.S. GoldMining's total foreign currency denominated monetary assets amounted to CAD 45,976 as of August 31, 2024, down from CAD 61,228 as of November 30, 2023[85] Project Developments - The company holds an 84.05% interest in the Boa Vista Gold Project located in Brazil, which is a key asset for future development[105] - The La Mina Gold-Copper Project has received approval to integrate the La Mina and La Garrucha concession contracts into a single concession as of December 2023[110] - U.S. GoldMining entered into an agreement for the Whistler Project with a total approved work order of CAD 4.8 million (US$3.5 million) for 2024, with an option for additional expenditures up to US$2.0 million[113]

Financial Performance - The company reported an operating loss of $5,835 million for the three months ended May 31, 2024, compared to a loss of $5,999 million for the same period in 2023, showing an improvement of approximately 2.7%[3] - Net loss for the period attributable to shareholders was $5,470 million for the three months ended May 31, 2024, down from $6,924 million in the same period of 2023, representing a reduction of about 21%[3] - The total comprehensive loss for the period was $6,772 million for the three months ended May 31, 2024, compared to $12,678 million for the same period in 2023, showing a significant improvement of approximately 46%[3] - For the six months ended May 31, 2024, Goldmining Inc. reported a net loss of CAD 8,471,000, a decrease from a net loss of CAD 13,186,000 for the same period in 2023, representing a 35% improvement[25] - The company reported a net loss of CAD 15,725,000 for the period ended May 31, 2024, compared to a net loss of CAD 13,036,000 for the same period in 2023, indicating a worsening of approximately 20.6%[169] Assets and Liabilities - As of May 31, 2024, total assets amounted to $138,924 million, a slight increase from $136,878 million as of November 30, 2023, reflecting a growth of approximately 1.5%[2] - Current liabilities decreased from $3,850 million as of November 30, 2023, to $3,850 million as of May 31, 2024, indicating a reduction of about 0.1%[2] - The company's cash and cash equivalents decreased from $21,589 million as of November 30, 2023, to $17,246 million as of May 31, 2024, a decline of about 20%[2] - Total equity attributable to shareholders increased to $130,784 million as of May 31, 2024, from $129,243 million as of November 30, 2023, reflecting a growth of approximately 1.2%[2] - The total assets as of May 31, 2024, amount to $138.9 million, compared to $136.9 million as of November 30, 2023[147] Exploration and Evaluation Expenses - Exploration expenses increased to $1,217 million for the three months ended May 31, 2024, compared to $700 million for the same period in 2023, marking an increase of approximately 74%[3] - The total exploration and evaluation expenses for the six months ended May 31, 2024, amounted to CAD 1,932,000, an increase from CAD 1,299,000 for the same period in 2023[37] - The Company completed qualifying expenditures on the Almaden Project totaling $2,250, with $1,500 completed by June 1, 2023, and a further $750 by December 31, 2023[56] Share-Based Compensation - Share-based compensation expenses for the six months ended May 31, 2024, totaled $1,944 million, compared to $1,904 million for the same period in 2023, indicating an increase of about 2%[3] - Share-based compensation expense recognized during the six months ended May 31, 2024, was CAD 1,392,000, slightly up from CAD 1,388,000 for the same period in 2023[50] - The fair value of share-based compensation expense for the six months ended May 31, 2024, was $377, compared to $286 for the same period in 2023, reflecting a 31.8% increase[77] Cash Flow and Financing Activities - The company generated cash from financing activities amounting to CAD 5,910,000 for the six months ended May 31, 2024, compared to CAD 29,147,000 for the same period in 2023, indicating an 80% decrease[25] - Cash used in investing activities for the six months ended May 31, 2024, was CAD 908,000, a significant decrease from CAD 2,080,000 for the same period in 2023[25] - U.S. GoldMining's cash and cash equivalents as of May 31, 2024, were $12,413,000, with restricted cash of $118,000[104] Shareholder Information - The weighted average number of shares outstanding increased to 186,030,955 for the three months ended May 31, 2024, compared to 168,724,064 for the same period in 2023, reflecting a growth of approximately 10.2%[167] - The total issued capital as of May 31, 2024, was CAD 182,827,000, an increase from CAD 176,584,000 as of November 30, 2023[171] - The total number of outstanding options increased to 15,210,929, with a weighted average exercise price of $1.59, compared to 13,237,695 options at a price of $1.63 as of May 31, 2023[81] Investments - As of May 31, 2024, Goldmining Inc. held 26,670,250 shares of NevGold, with a fair value of approximately CAD 11.6 million, representing a 28.4% ownership interest[39] - The investment in NevGold increased from 17.6% to 22.0% after acquiring 4,109,589 common shares, leading to significant influence over NevGold[62] - The equity share of NevGold's estimated net loss for the six months ended May 31, 2024, was $724, compared to $nil for the same period in 2023[64] Other Financial Metrics - The company recognized a current income tax expense of $1,781 million related to the sale of the Almaden Project during the six months ended May 31, 2024[16] - The company incurred a deferred income tax recovery of CAD 1,057,000 for the six months ended May 31, 2024, compared to an expense of CAD 2,903,000 for the same period in 2023[25] - A 10% change in the equity prices of long-term investments would impact the other comprehensive loss by approximately $4,137 thousand for the six months ended May 31, 2024[122]