InvestorsIssue 01 | September 17, 2026
GOLDMINING AT A GLANCE
Advancing Core Assets across the Americas
Welcome to the inaugural issue of The Core Catalyst, where we highlight the key components of GoldMining and how we are executing our strategy by advancing our core projects to unlock value from our portfolio of assets across the Americas.
We are currently navigating a remarkably strong macroeconomic environment for precious metals, making this the perfect time to ensure our shareholders understand how we are actively seeking to build value. After a decade of strategically assembling an Americas portfolio of gold and gold-copper assets during cycle lows, GoldMining has entered harvest mode.
We can no longer simply be considered a passive resource holder; we are an active, catalyst-driven developer with the team, the capital and the capacity to advance our premier assets.
Our strategy is currently anchored by three core pillars:
- Balance Sheet: The Company has no debt and holds approximately US$178 million1 in cash and publicly traded securities at current market prices, the balance of which almost equates to the entire current market capitalization of GoldMining.
- Capacity to Advance Rapidly: We are systematically engineering our assets, recently delivering two robust preliminary economic assessments (PEAs) for our São Jorge and La Mina projects, outlining NPV5% of US$532 million2 and US$1.0 billion3, respectively.
- Advancing District-Scale Upside: We are actively executing exploration programs to expand our footprint and unlock regional synergies. This includes recent exploration activity at the Yarumalito Project in Colombia and ongoing drilling at São Jorge in Brazil, alongside exploration at the Whistler Project, owned by U.S. GoldMining, in which GoldMining holds a 71% interest.
The PEAs are preliminary in nature, and there is no certainty that the reported results will be realized. They include inferred mineral resources, which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEAs, including the conceptual economics set out therein, will be realized.
In future briefs, we expect to provide you with ongoing, high-level updates on global gold trends, operational milestones, and our progress as we advance and quantify the fundamental value of our projects.
Alastair Still
President & CEO, GoldMining
For official company announcements and detailed technical disclosure, please refer to GoldMining’s news releases and regulatory filings, which are available at www.sedarplus.ca.
GOLDMINING AT A GLANCE
GoldMining has built a substantial resource base across four countries in the Americas, with assets spanning exploration, resource definition and economic assessment. With two PEAs completed in 2026, drilling and exploration underway, and a debt-free balance sheet, the Company is positioned to advance its highest-potential assets while continuing to unlock value across the broader portfolio.
| 13.1 Moz AuEq4 Measured & Indicated Resources |
9.0 Moz AuEq Inferred Resources |
| 100%-Owned Americas Portfolio Canada, Brazil, Colombia & Peru U.S. exposure held via 71% interest in USGO |
2 PEAs in 2026 São Jorge (Brazil) & La Mina (Colombia) |
| No Debt Debt-free balance sheet at May 31, 2026 |
Gold + Copper Exposure across a diversified portfolio in the Americas |
| 2026 Exploration Activity São Jorge and U.S. GoldMining’s Whistler Project, with exploration also completed at Yarumalito |
C$230.1M Equity Holdings¹ C$108.4M US GoldMining (NASDAQ: USGO) C$100.8M Gold Royalty (NYSE-A: GROY) C$17.9M NevGold (TSX-V: NAU) C$2.9M Australian Mines (ASX: AUZ) |
The portfolio provides GoldMining with exposure to a broad base of gold and gold-copper resources and multiple opportunities across the Americas. Our focus for the remainder of 2026 and beyond is to seek to execute the catalysts required to drive market recognition of the underlying project economics of our core assets and fundamentally demonstrating the potential to become economic, buildable mines.
EXPLORE THE GOLDMINING PORTFOLIO →
LOOKING AHEAD
In the next edition, we’ll explore the project’s 46,485-hectare land package, regional-scale exploration potential and its position within the Tapajós Gold District2.
1. Cash balance of C$21.4M as at latest filing for the quarter ended May 31, 2026. The closing prices of shares underlying equity holdings as at Sept 16, subject to USD:CAD FX of 1.41 and USD:AUD FX of 1.42
2. See “NI 43-101 Technical Report and Preliminary Economic Assessment for the São Jorge Gold Project, Pará State, Brazil”, with an effective date of June 9, 2026; Base case economics utilize $3,500/oz Au
3. See “NI 43-101 Technical Report and Preliminary Economic Assessment for the La Mina Gold-Copper Mineral Deposit, Antioquia, Republic of Colombia”, effective April 22, 2026; Base case at US$3,500/oz Au
4. Refer to GoldMining’s global resource table on the website for further information and reference to the relevant technical reports
MORE FROM GOLDMINING
View our Corporate Presentation
September 2026 →
São Jorge PEA Technical Report
GoldMining Files PEA Technical Report for its São Jorge Project, Brazil →
Mid-Year 2026 Shareholder Update
GoldMining Issues Mid-Year 2026 Shareholder Update →
TECHNICAL DISCLOSURE
Tim Smith, P. Geo., Vice President Exploration of GoldMining, has supervised the preparation of, and verified and approved, all scientific and technical information contained herein. Mr. Smith is also a qualified person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").
Technical disclosure regarding the projects described herein has been prepared by the Company in accordance with Canadian National Instrument 43-101 ("NI 43-101"), which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the U.S. Securities and Exchange Commission and the scientific and technical information contained herein may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements.
FORWARD-LOOKING STATEMENTS
Certain of the information contained in this newsletter constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws ("forward-looking statements"), which involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to the results of the PEAs, resource estimates, the Company’s plans and expectations regarding its projects and future opportunities and proposed work and studies thereon. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which GoldMining operates. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: the inherent risks involved in the exploration and development of mineral properties, fluctuating metal prices, unanticipated costs and expenses, risks related to government and environmental regulation, social, permitting and licensing matters, and uncertainties relating to the availability and costs of financing needed in the future. These risks, as well as others, including those set forth in GoldMining's Annual Information Form for the year ended November 30, 2025, and other filings with Canadian securities regulators and the SEC, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that forward-looking statements, or the material factors or assumptions used to develop such forward-looking statements, will prove to be accurate. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities law.
GoldMining Inc.
Email: [email protected]
Suite 1830, 1188 West Georgia Street,
Vancouver, British Columbia
Canada V6E 4A2
TSX: GOLD | NYSE American: GLDG
www.goldmining.com