U.S. GoldMining Announces 2024 Exploration Program

Core Viewpoint - U.S. GoldMining Inc. is advancing its Whistler Gold-Copper Project in Alaska, with a focus on confirmatory and step-out drilling in 2024, building on successful results from 2023 [1][3][4] 2024 Planned Exploration Program Highlights - The 2024 exploration program will target high-grade mineralization areas within the Whistler Deposit, aiming to expand existing mineral resources [4][6] - The project area, known as the 'Whistler Orbit', encompasses 53,700 acres of mining claims in Alaska, with existing mineral resource estimates at the Whistler and Raintree West deposits [2][4] - The program is fully funded with over $10 million in cash and cash equivalents as of March 31, 2024 [3] Drilling Results and Resource Estimates - The 2023 drilling results included a significant intercept of 547 meters at 1.06 grams per tonne (g/t) gold equivalent, indicating a robust mineralization profile [4] - The combined mineral resource estimate for the project includes 1.94 million ounces (Moz) of gold and 0.422 billion pounds (Blbs) of copper in the Indicated category, and 4.67 Moz gold and 0.711 Blbs copper in the Inferred category [4][9] Market Conditions - The project is positioned to benefit from rising commodity prices, with gold reaching approximately $2,400 per ounce and copper at about $5.00 per pound, alongside silver at a ten-year high of approximately $30 per ounce [4][5] Geological Insights - The geological team is exploring additional intrusive centers within the Whistler Orbit, which may host new gold-copper deposits, enhancing the project's potential [7] - The exploration strategy includes surface geological mapping, geochemical sampling, and lithogeochemical studies to identify and prioritize drilling targets [7] Team Expansion - The company has appointed Mr. Logan Boyce as Senior Project Geologist, bringing over 10 years of experience in gold project exploration and development [8]