U.S. GoldMining Inc. - USGO STOCK NEWS

U.S. GoldMining (NASDAQ: USGO) has announced its 2024 exploration program at the Whistler Gold-Copper Project in Alaska. The program aims to build on the 2023 confirmatory results, including a significant 547-meter intercept at 1.06 g/t gold equivalent (AuEq). The 2024 effort will focus on confirmatory and step-out drilling at the Whistler and Raintree West deposits, targeting the extension of high-grade mineralization and testing new areas within the Whistler Orbit.

The project boasts a combined mineral resource estimate of 1.94 Moz gold and 0.422 Blbs copper in the Indicated category, and 4.67 Moz gold and 0.711 Blbs copper in the Inferred category. The Company is fully funded, with over $10 million in cash and cash equivalents as of March 31, 2024. The exploration program is set to commence in July 2024, supported by existing camp facilities. Commodity prices are favorable, with gold and copper reaching all-time highs.

GoldMining announced the voting results of its annual general meeting held on May 16, 2024. The meeting saw a quorum of 32.49% of outstanding shares represented. All nominees listed in the management's information circular dated March 25, 2024, were elected as directors. Significant votes were cast for Amir Adnani (92.02%), David Garofalo (92.07%), Garnet Dawson (94.45%), David Kong (94.26%), Gloria Ballesta (68.38%), Hon. Herb Dhaliwal (94.13%), Mario Bernardo Garnero (94.52%), and Anna Tudela (93.95%). Additionally, PricewaterhouseCoopers LLP was reappointed as the auditor for the ensuing year. Detailed voting results are available on SEDAR+.

GoldMining Inc. (TSX: GOLD) (NYSE American: GLDG) released its 2023 Sustainability Report, highlighting a focus on health and safety, community support, environmental initiatives, and diversity. The report showcases efforts to ensure responsible exploration and development practices while creating shared value for local communities. The Company's commitment to sustainability is evident in its approach and goals aligned with the United Nations' Sustainable Development Goals.

GoldMining Inc. has reduced the existing third-party royalty on its Crucero gold project in Peru, significantly enhancing the potential value of the property. The company paid US$70,000 to Compañía de Minas Buenaventura S.A.A. to amend and reduce the royalty to a 3% net smelter return (NSR) and has the option to further reduce it to a 1% NSR by making an additional payment of US$200,000 over the next 10 years. The Crucero Project is located in Peru and boasts significant mineral resource estimates, indicating the company's commitment to unlocking value from its portfolio of resource-stage gold and gold-copper projects in the Americas.

GoldMining Inc. announces the filing of its annual financial statements, management's discussion and analysis, and annual report for the year ended November 30, 2023. The filings provide insights into the company's financial position, operations, and projects.

GoldMining Inc. reports positive assay results from its subsidiary, U.S. GoldMining, confirming continuity of high-grade core at the Whistler Gold-Copper Project in Alaska. The program resulted in 547 meters at 1.06 g/t Gold Equivalent, including 176 meters at 1.55 g/t Gold Equivalent. The company holds $129 million in cash and publicly traded equities, and the CEO is optimistic about future strategic initiatives.

GoldMining Inc. has announced the completion of the sale of the Nutmeg Mountain Project to a subsidiary of NevGold Corp, receiving $3 million in payment through the issuance of 10,000,000 common shares. This transaction has crystallized immediate value for GoldMining, allowing the company to retain potential upside to the Project's future potential and remain focused on advancing and unlocking value from other assets in its portfolio. The company now has $132 million of aggregate equity holdings in NevGold, U.S. GoldMining Inc., and Gold Royalty Corp. The transaction realized an attractive rate of return for GoldMining, with total consideration received being $9.0 million for the Project, which was acquired in 2020 for consideration of $1.15 million. GoldMining is now the largest shareholder of NevGold, holding approximately 29.4% of the outstanding NevGold Shares, providing the company continued exposure to the potential upside of Nutmeg Mountain and other assets. NevGold is required to make additional contingent payments to GoldMining of up to $7.5 million. The transaction allowed GoldMining to crystallize value while remaining focused on unlocking value and advancing its other assets throughout North and South America.

U.S. GoldMining Inc. announces positive assay results from the 2023 drilling program at the Whistler Gold-Copper Project in Alaska. The results confirm continuity of high-grade, near-surface core mineralization, extending the Deposit beyond previous known extents. The Company plans to re-commence an approximate 10,000 meter drilling program at the Project at the start of the 2024 field season.

GoldMining Inc. (GOLD) announces plans for advancing the Rea uranium project in Western Athabasca Basin, Alberta, Canada. The Project is owned 75% by the Company and 25% by Orano Canada Inc. Uranium prices have risen to US$80.25 per pound, and the Athabasca Basin is home to the world's richest uranium mines. The Project surrounds Orano's Maybelle River project, and the Company is working to reactivate exploration efforts to target a major regional shear zone.