U.S. GOLDMINING ISSUES YEAR-END LETTER TO SHAREHOLDERS

Core Viewpoint - U.S. GoldMining Inc. has made significant progress in 2024 on its Whistler Gold-Copper Project, achieving key milestones in exploration, resource development, and community engagement, positioning the company for future growth [2][12]. Group 1: Key Achievements in 2024 - Indicated resources increased by 117% to 6.5 million ounces gold-equivalent (AuEq), with an additional 4.2 million ounces AuEq in the Inferred category, enhancing confidence in the deposit's quality and scale [3][4]. - The 2024 drill campaign yielded strong results, including 652.5 meters at 1.00 g/t AuEq and 120 meters at 1.00 g/t AuEq, extending the high-grade core and identifying a new high-grade zone [4]. - Over 13,000 feet (approximately 4,006 meters) of drilling was completed ahead of schedule and under budget, with zero safety incidents and no reportable environmental incidents, reflecting the company's commitment to responsible operations [5]. Group 2: Development Initiatives - Internal mining and metallurgical studies were conducted to inform future scoping work, alongside environmental and archaeological studies to support permitting efforts [6]. - Collaboration with Alaskan authorities on the West Susitna Access Road aims to improve infrastructure access and enhance long-term development prospects for the Whistler Project [6][11]. Group 3: Community Engagement - The company directed over $4.3 million into the Alaskan economy through partnerships with local contractors and suppliers, and contributed $60,000 to local organizations supporting community initiatives [7][8]. Group 4: Future Outlook - The outlook for gold, copper, and silver remains positive, with Whistler positioned to meet the growing demand for critical minerals, particularly copper, which is essential for the clean energy transition [9]. - Strong political support for resource exploration and development in Alaska is anticipated, with encouraging messages from President-elect Trump regarding the future of mining in the state [10]. - The anticipated development of the West Susitna Access Road aligns with government efforts to support responsible resource development, providing a compelling path forward for the project [11].