U.S. GoldMining Inc. - USGO STOCK NEWS

GoldMining has announced positive assay results from the first drill hole of its São Jorge Project in Brazil. The drilling program aims to confirm high-grade mineralization and improve resource estimates. Highlights include a 163m interval grading 1.02 g/t gold, with notable intersections of 37m at 2.26 g/t gold and 20m at 1.37 g/t gold. The project is strategically located in the Tapajós Gold District, near existing infrastructure. The results are expected to enhance the geological model and future resource estimations.

GoldMining has announced promising preliminary results from the geophysical survey reprocessing of its Rea uranium project in the Western Athabasca Basin. The Company, which owns 75% of the project, has identified over 70 km of prospective trends within three distinct corridors. The project encompasses approximately 125,328 hectares and surrounds Orano Canada's Dragon Lake prospect. Notable findings include anomalous uranium values and pathfinder elements in multiple drill holes across the Maybelle River, Net Lake, and Keane Lake corridors. CEO Alastair Still emphasized the cost-efficiency and strategic relevance of this work towards unlocking shareholder value. Future exploration will focus on refining targets for drilling.

U.S. GoldMining (NASDAQ: USGO) has published its 2024 Sustainability Factsheet, outlining the company's environmental and community initiatives. Key highlights include the advancement of the Whistler Gold-Copper Project in Alaska, potential contributions to the U.S. domestic supply of copper, and economic benefits to local Alaskan communities. The company spent $4.3M with local suppliers, awarded key contracts to local businesses, and donated over $60,000 to community causes. Health and safety measures included 192 hours of training and 2,070 hours of management activities. The board boasts 50% female representation. The detailed factsheet is available on the company's website.

GoldMining has commenced drilling at its São Jorge Gold Project in Brazil, spanning 45,997 hectares. The project includes 1,000 meters of diamond core drilling and 3,000 meters of power auger drilling. Objectives include confirming structural controls on high-grade mineralization and exploring new targets along a NW-SE high-strain corridor. The drilling will test surficial geochemical anomalies within a 12 km x 7 km area, comprising gold, copper, and molybdenum. The project sits within the Tapajos Gold District, noted for producing over 20 million ounces of gold. A new geological model may optimize mineral resource estimates, potentially leading to new discoveries.

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.