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U.S. GoldMining Inc. - USGO STOCK NEWS

Welcome to our dedicated page for U.S. GoldMining news (Ticker: USGO), a resource for investors and traders seeking the latest updates and insights on U.S. GoldMining stock.

U.S. GoldMining Inc. (NASDAQ: USGO) is a dynamic mineral exploration and development company with a primary focus on gold and copper. The company is actively developing the Whistler Project in Alaska's Yentna Mining District, approximately 170 km northwest of Anchorage. This project encompasses a substantial gold-copper porphyry deposit and has been a significant focus for U.S. GoldMining Inc.

Recent achievements at the Whistler Project include the successful 2023 drilling program, which confirmed the high-grade continuity of the deposit. This program also extended the known mineralization boundaries, showcasing one of the longest drill intercepts of consistent mineralization in the project's history. The latest drill results have not only validated the geological model but also indicated potential expansions at depth and along strike.

U.S. GoldMining Inc. is now preparing for the 2024 field season, which will include confirmatory and step-out drilling in Whistler and Raintree West deposits. The current exploration program is fully funded, with the company holding over $10 million in cash and cash equivalents as of March 31, 2024. This strong financial position enables the company to advance its exploration initiatives effectively.

Moreover, the company boasts a robust technical team dedicated to unlocking further value from the Whistler Project. The ongoing efforts aim to identify additional porphyry-hosted deposits within the broader Whistler-Raintree mineral system, known for its promising gold-copper mineralization potential.

With clear strategic goals and substantial financial backing, U.S. GoldMining Inc. is well-positioned to enhance shareholder value through its dedicated exploration and development activities, capitalizing on the high gold and copper prices in the market.

News

GoldMining Subsidiary, U.S. GoldMining, Announces Confirmatory Results, Including Highest Drill Intercept to Date at the Whistler Gold-Copper Project, Alaska

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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.
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GoldMining Completes Sale of Nutmeg Mountain to NevGold and Receives $3 Million in NevGold Shares

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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.
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U.S. GoldMining Intersects 547 meters at 1.06 g/t Gold Equivalent Including 176 meters at 1.55 g/t Gold Equivalent at the Whistler Gold-Copper Project, Alaska

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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.
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GOLDMINING TO ADVANCE THE REA URANIUM PROJECT, ONE OF THE LARGEST LAND PACKAGES IN WESTERN ATHABASCA BASIN, CANADA

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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.
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GOLDMINING INC. TARGETS EXPANSION AT THE SÃO JORGE GOLD PROJECT, BRAZIL

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GoldMining Inc. (TSX: GOLD) (NYSE American: GLDG) provides an update on its 100% owned São Jorge gold project in Brazil. The project is located in the Tapajos Gold District and has considerable mineral exploration potential, with a large geochemical footprint and multiple gold and copper anomalies. The company plans to prioritize exploration targets for potential drill testing in 2024.
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Corporate Update

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GoldMining Inc. (GOLD: TSX, GLDG: NYSE American) announces a renewed at-the-market equity program (ATM Program) with the intention to distribute up to US$50 million of common shares to the public. The company is not obligated to make any sales of Offered Shares under the Distribution Agreement. The net proceeds of any sales under the ATM Program will be used to fund the exploration and development of its mineral properties, including to complete minimum work programs, property payments, and other expenditures to maintain the Company's property rights, to fund future acquisitions, and for working capital.
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GoldMining Releases Inaugural Sustainability Report

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GoldMining Inc. has released its inaugural Sustainability Report, highlighting its strong track record in health and safety, focus on recycling water, commitment to local stakeholders, and diversity and inclusion initiatives. The report is aligned with the United Nations' Sustainable Development Goals and is available on the company's website.
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U.S. GOLDMINING TARGETS EXPANSION AT THE WHISTLER GOLD-COPPER PROJECT, ALASKA

Rhea-AI Summary
U.S. GoldMining Inc. provides an update on its 2023 Phase 1 drilling program at the Whistler Gold-Copper Project in Alaska. The program aims to expand and increase confidence in existing gold-copper deposits and test prospective exploration targets. Three drill holes have been completed at the Whistler Deposit, and assays are pending. The company has also commenced drilling at the Rainmaker South target, located southeast of the Whistler Deposit.
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GoldMining Announces Filing of PEA Technical Report For La Mina Project, Colombia

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GoldMining Inc. has announced the filing of an independent Technical Report and Preliminary Economic Assessment (PEA) for its La Mina Project in Colombia. The PEA highlights include a projected life of mine production of approximately 1.74 million gold equivalent ounces and an after-tax Net Present Value of approximately $279 million at base case commodity prices. The PEA results have been revised to address minor corrections and clarifications.
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U.S. GOLDMINING COMMENCES DRILLING PROGRAM AT WHISTLER GOLD-COPPER PROJECT, ALASKA

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U.S. GoldMining commences drilling program at Whistler gold-copper project, Alaska
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FAQ

What is the current stock price of U.S. GoldMining (USGO)?

The current stock price of U.S. GoldMining (USGO) is $8.32 as of December 20, 2024.

What is the market cap of U.S. GoldMining (USGO)?

The market cap of U.S. GoldMining (USGO) is approximately 107.9M.

What is U.S. GoldMining Inc.'s primary focus?

U.S. GoldMining Inc. focuses on the exploration and development of gold and copper deposits, primarily at the Whistler Project in Alaska.

Where is the Whistler Project located?

The Whistler Project is located in the Yentna Mining District, approximately 170 km northwest of Anchorage, Alaska.

What were the results of the 2023 drilling program?

The 2023 drilling program at Whistler successfully confirmed the high-grade continuity of the deposit and extended known mineralization boundaries.

What are the plans for the 2024 exploration program?

The 2024 exploration program will include confirmatory and step-out drilling in the Whistler and Raintree West deposits, focusing on expanding and optimizing the existing mineral resource.

How is the 2024 drilling program funded?

The 2024 drilling program is fully funded, with U.S. GoldMining Inc. holding over $10 million in cash and cash equivalents as of March 31, 2024.

Who is leading the exploration efforts?

The exploration efforts are led by a strong technical team under the supervision of Tim Smith, Chief Executive Officer of U.S. GoldMining Inc.

What is unique about the Whistler Project?

The Whistler Project is one of the largest undeveloped gold-copper resources in the United States not yet in the hands of a major mining company.

How does the Whistler Project contribute to the company's value?

The Whistler Project's large resource potential and ongoing exploration success significantly enhance the value proposition for U.S. GoldMining Inc. and its shareholders.

What additional mineral potential does the Whistler Project have?

The Whistler Project is believed to contain multiple additional intrusive centers with potential for new porphyry-hosted gold-copper deposits.

How can I get more information about U.S. GoldMining Inc. and the Whistler Project?

For more information, visit the company's website at www.usgoldmining.us, where you can find detailed reports, high-resolution figures, and the VRIFY 3D presentation.

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U.S. GoldMining Inc.

NYSE:USGO

USGO Rankings

#4345 Ranked by Market Cap
N/A Ranked by Dividends

USGO Stock Data

107.89M
1.52M
88.09%
4.23%
0.17%
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