Latest news with #USGO
Cision Canada
9 hours ago
- Business
- Cision Canada
U.S. GoldMining Inc. Selects Ausenco to Deliver Initial Economic Assessment At Whistler Gold-Copper Project, Alaska
, June 9, 2025 /CNW/ - U.S. GoldMining Inc. (NASDAQ: USGO) (" U.S. GoldMining" or the " Company") is pleased to announce it has selected Ausenco Engineering Canada ULC (" Ausenco") as the principal consulting firm to lead its proposed initial assessment study (" PEA") for the Whistler Gold-Copper Project (" Whistler" or the " Project"), located 105 miles northwest of Anchorage, Alaska. The study, as previously announced April 15, 2025, is intended to constitute an initial assessment under U.S. Regulation S-K 1300 (" S-K 1300") and a preliminary economic assessment under Canadian National Instrument 43-101 (" NI 43-101"). Highlights: The PEA is intended to explore and outline a development opportunity at the Whistler Project for a stand-alone open pit mine and concentrator facility located approximately 100 miles northwest of Anchorage in south-central Alaska, a region which has significant existing and ongoing infrastructure development. The PEA will consider the Whistler mineral resource estimate which currently stands at 6.48 million ounces (Moz) gold equivalent (AuEq) compiled from the indicated resource category and 4.16 Moz AuEq in the inferred resource category (see Table 1 for details). The Project is anticipated to benefit from the deposit's near-surface, higher-grade core material in the early years of production. The PEA will utilize an updated mineral resource estimate to be completed by Moose Mountain Technical Services, which will include 2024 drilling that was not available for the previous mineral resource estimate. In addition, metallurgical test work is currently being conducted by Base Metallurgical Laboratories Ltd., as previously announced on April 24, 2025. The Company completed a comprehensive bidding process, receiving initial expressions of interest from 13 consulting firms, followed by a rigorous Request for Proposal (" RFP") review of six shortlisted candidate firms. Ausenco was selected from this process on the strength of its experience across all disciplines and its track record in recent delivery of comparable studies. Tim Smith, Chief Executive Officer of U.S. GoldMining, commented:"We're delighted to be able to announce that we have partnered with Ausenco on this important work program. We're excited to begin working towards delivering the first PEA on Whistler, which we believe could present a robust future mining opportunity and has the potential to unlock significant value for shareholders. We look forward to providing periodic updates as the study progresses, for which we are currently targeting completion before year-end." David Thomas, Vice President, Minerals & Metals, Southwest USA of Ausenco, commented:"Ausenco is pleased to partner with U.S. GoldMining on the Whistler Gold-Copper Project PEA. We've successfully completed studies for clients around the world, including initial concept studies, pre-feasibility studies and definitive studies. As a lifelong Alaskan who lived many years in the Matanuska-Susitna (Mat-Su) Borough – where the Whistler Project is located - I'm delighted to add to the direct Alaskan experience of the team and help deliver U.S. GoldMining a robust, sustainable mining study." About U.S. GoldMining Inc. U.S. GoldMining Inc. is an exploration and development company focused on advancing the 100% owned Whistler Gold-Copper Project, located 105 miles (170 kilometers) northwest of Anchorage, Alaska, U.S.A. The Whistler Project consists of several gold-copper porphyry deposits and exploration targets within a large regional land package entirely on State of Alaska Mining claims totaling approximately 53,700 acres (217.5 square kilometers). Visit for more information. About Ausenco Ausenco is a global company redefining what's possible. The team is based out of 21 offices working across five continents to deliver services worldwide. Combining deep technical expertise with a 30-year track record, Ausenco delivers innovative, value-add consulting, studies, project delivery, asset operations and maintenance solutions to the minerals and metals and industrial sectors ( Table 1 Mineral Resource Estimate for the Total Project (Effective date: September 12, 2024) Notes to Table 1: 1. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves. 2. Inferred mineral resources are subject to uncertainty as to their existence and as to their economic and legal feasibility. The level of geological uncertainty associated with an inferred mineral resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability. 3. The mineral resource estimate for the Whistler, Island Mountain, and the upper portions of the Raintree West deposits have been confined by an open pit with "reasonable prospects of economic extraction" using the following assumptions: Metal prices of US$1,850/oz gold (Au), US$4.00/lb copper (Cu) and US$23/oz silver (Ag); Payable metal of 95% payable for Au and Ag, and 96.5% payable for Cu; Refining costs for g of US$8.00/oz, for Ag of US$0.60/oz and for Cu of US$0.05/lb; Offsite costs for Au of US$77.50/wmt, for Ag of US$3.50/wmt and for Cu of US$55.00/wmt; Royalty of 3% net smelter return royalty (NSR); Pit slopes are 50 degrees; Mining cost of US$2.25/t for waste and mineralized material; and Processing, general and administrative costs of US$7.90/t. 4. The lower portion of the Raintree West deposit has been constrained by a mineable shape with "reasonable prospects of eventual economic extraction" using a US$25.00/t cut-off. 5. Metallurgical recoveries are: 70% for Au, 83% for Cu, and 65% Ag for Ag grades below 10g/t. The Ag recovery is 0% for values above 10g/t for all deposits. 6. The NSR equations are: below 10g/t Ag: NSR (US$/t)=(100%-3%)*((Au*70%*US$54.646/t) + (Cu*83%*US$3.702*2204.62 + Ag*65%*US$0.664)), and above 10g/t Ag: NSR (US$/t)=(100%-3%)*((Au*70%*US$56.646g/t) + (Cu*83%*US$3.702*2204.62)). 7. The Au Equivalent equations are: below 10g/t Ag: AuEq=Au + Cu*1.771 +0.0113Ag, and above 10g/t Ag: AuEq=Au + Cu*1.771. 8. The specific gravity for each deposit and domain ranges from 2.76 to 2.91 for Island Mountain, 2.60 to 2.72 for Whistler with an average value of 2.80 for Raintree West. 9. Numbers may not add due to rounding. For further information regarding the Project and the mineral resource estimates referenced herein, refer to the technical report summary titled "S-K 1300 Technical Report Summary Initial Assessment for the Whistler Project, South Central Alaska" with an effective date of September 12, 2024, and the technical report titled "NI 43-101 2024 Updated Mineral Resource Estimate for the Whistler Project, South Central Alaska" with an effective date of September 12, 2024, available under the Company's respective profiles at and Tim Smith, Chief Executive Officer of the Company, has supervised the preparation of this news release and has reviewed and approved the scientific and technical information contained herein. Mr. Smith is a "qualified person" as defined under NI 43-101. Forward-Looking Statements Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" within the meaning of the United States federal securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Such statements include statements with regard to the Company's expectations regarding the Project and the proposed PEA. Words such as "expects", "anticipates", "plans", estimates" and "intends" or similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on U.S. GoldMining's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict and involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of future exploration may not confirm expectations, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals or permits, title disputes other risks inherent in the exploration and development of mineral properties and the other risk factors set forth in the Company's filings with the U.S. Securities and Exchange Commission at. and Canadian Securities Administrators at Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release. Forward-looking statements contained in this news release are made as of this date, and U.S. GoldMining does not undertake any duty to update such information except as required under applicable law.
Cision Canada
6 days ago
- Business
- Cision Canada
GoldMining Applauds Inclusion of U.S. GoldMining in Russell 3000® Index
Milestone Underscores GoldMining's Strategic Buildout of a ~$197M Equity Portfolio VANCOUVER, BC, June 3, 2025 /CNW/ - GoldMining Inc. (the "Company" or "GoldMining") (TSX: GOLD) (NYSE American: GLDG) is pleased to announce that its majority-owned subsidiary, U.S. GoldMining Inc. ("U.S. GoldMining") (Nasdaq: USGO), has been added as a member of the broad-market Russell 3000 ® Index according to a preliminary list published by FTSE on its website in connection with its annual reconstitution of the index. The reconstitution is expected to take effect after the U.S. Market closes on June 27, 2025. GoldMining owns 9.9 million shares of U.S. GoldMining, representing an approximate 79% ownership, with a market value of approximately $131 million based on the closing price of such shares on June 2, 2025. Alastair Still, CEO of GoldMining, commented: "We are thrilled to see U.S. GoldMining recognized for its progress with this inclusion in the Russell 3000 ®. This milestone validates the success of our Company's strategic IPO launch of U.S. GoldMining just over two years ago and highlights the tangible value created for our shareholders. With multiple high-priority exploration targets and an initial economic assessment underway at the Whistler Gold-Copper Project in Alaska, we see compelling upside as U.S. GoldMining advances its portfolio." Strengthening GoldMining's Equity Portfolio In addition to its stake in U.S. GoldMining, the Company also owns: Over 21.5 million shares of Gold Royalty Corp. (NYSE American: GROY), valued at approximately $56 million based on the closing price of such shares on June 2, 2025. Over 26 million shares of NevGold Corp. (TSXV: NAU), valued at approximately $10 million based on the closing price of such shares on June 2, 2025. Together, these holdings bring the current market value of GoldMining's equity portfolio to approximately $197 million. The market capitalization of the Company on an undiluted basis is approximately $210 million, based on the closing price of such shares on June 2, 2025. GoldMining remains debt-free and, in addition to its equity portfolio, owns 100% of a project portfolio totaling 12.4 million gold equivalent ounces (measured & indicated) and 9.1 million gold equivalent ounces (inferred) across the Americas. Visit for more information and technical reports. About the Russell 3000 ® Index The Russell 3000 ® Index includes the 4,000 largest U.S.-traded stocks by market capitalization and serves as the foundation for the Russell 1000 ® and Russell 2000 ® indexes. FTSE Russell's annual reconstitution reflects the changing U.S. equity landscape. As of June 2024, more than US$10.6 trillion in assets are benchmarked to Russell indexes. Qualified Person Paulo Pereira, P. Geo., President of GoldMining, has supervised the preparation of, and verified and approved, all other scientific and technical information herein this news release. Mr. Pereira is also a qualified person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (" NI 43-101"). About GoldMining Inc. The Company is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas. Through its disciplined acquisition strategy, the Company now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, U.S.A., Brazil, Colombia, and Peru. The Company also owns 21.5 million shares of Gold Royalty Corp. (NYSE American: GROY), 9.9 million shares of U.S. GoldMining Inc. (Nasdaq: USGO), and over 26 million shares of NevGold Corp. (TSXV: NAU). See for additional information. Notice to Readers Technical disclosure regarding the Project has been prepared by the Company in accordance with NI 43-101. NI 43-101 is a rule of the Canadian Securities Administrators 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 ("SEC") and the scientific and technical information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements. For further information regarding the Company's projects and the resource estimates disclosed herein, please refer to the Company's most recent Annual Information Form and the technical reports filed under the Company's profile at and Cautionary Statement on Forward-looking Statements Certain of the information contained in this news release 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, statements respecting the Company's expectations regarding U.S. GoldMining Inc. and its projects and often contain words such as "anticipate", "intend", "plan", "will", "would", estimate", "expect", "believe", "potential" and variations of such terms. Such 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, which may prove to be incorrect. Investors are cautioned that forward-looking statements involve risks and uncertainties, including, without limitation: 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, any inability to complete work programs as expected, the Company's plans with respect to the Project may change as a result of further planning or otherwise, 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 GoldMiningꞌs most recent Annual Information Form 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. SOURCE GoldMining Inc.
Cision Canada
15-05-2025
- Business
- Cision Canada
U.S. GoldMining Provides Update on Exploration Targets at the Whistler Gold-Copper Project, Alaska
, May 15, 2025 /CNW/ - U.S. GoldMining Inc. (NASDAQ: USGO) (" U.S. GoldMining" or the " Company") is pleased to provide an update on the results of exploration target delineation and analysis performed for the Whistler Gold-Copper Project (the " Whistler Project" or the " Project") in Alaska, U.S.A. Highlights: The Whistler Project lies within the emerging West Susitna Mineral District located just 100 miles west of Anchorage, Alaska. The Company's 100% owned land package consists of 53,700 acres of State mining claims encompassing three separate gold ± copper ± silver mineral systems identified to date. Whistler - Raintree mineral system – includes the Whistler and Raintree West deposits which are hosted within the broader Whistler Orbit intrusive center, comprising multiple additional mapped porphyry intrusions spread over an area of approximately 5 x 5 km, interpreted as a classic 'porphyry cluster' with potential for additional gold ± copper ± silver mineralization to be discovered. Island Mountain mineral system – encompasses the known Island Mountain deposit plus several additional porphyry or intrusion related gold targets over an area of mapped intrusive rocks with diameter of +3 km. Muddy Creek mineral system – a large gold-in-soil geochemical footprint over an area of approximately 6 km x 4 km with an intrusion-related gold geochemical signature. The Company is currently undertaking further analysis to rank and prioritize the numerous targets located across each of the three gold ± copper ± silver mineral systems identified to date, and to develop phased exploration programs which could commence this coming summer. Tim Smith, Chief Executive Officer of U.S. GoldMining, commented: "The three Au-Cu-Ag porphyry deposits which comprise the existing Whistler Project mineral resource estimate - Whistler, Raintree and Island Mountain - occupy only ~1% of the Company's land holdings, highlighting the broader potential for the Project. Across the Project's large land package, we have identified numerous additional porphyry or intrusion related drill targets. Importantly, we recognize that the initial deposits delineated from approximately 75,000 meters of drilling completed to date, each occur within a broader mineral system that encompasses similar geological characteristics with the known deposits, thereby highlighting the potential for further discoveries using proven exploration vectors and methodologies. In addition to the recently announced initial economic assessment launched on the known gold-copper deposits, plus numerous exploration targets defined for further growth, Whistler is located proximally to major infrastructure and stands to benefit from partnering on State-led initiatives that will connect the Project to that infrastructure via the planned West Susitna Access Road. Furthermore, Whistler is situated within one of the more favorable mining jurisdictions in the United States, which is experiencing strong political tailwinds at both State and Federal levels. Coupled with recent all-time high gold prices and predicted strong future demand for copper, we are strongly encouraged by the potential to unlock significant additional value for stakeholders in 2025 and beyond." The Company's geological analysis conducted since completing the 2024 drilling campaign, indicates significant potential to build upon the Company's first two highly successful field seasons completed at Whistler during the summer of 2023 and 2024, and incorporates knowledge compiled from drilling, relogging of historical drill core, surface mapping and sampling, and geophysical processing and interpretation. Potential exploration programs are expected to run in parallel to the Company's previously announced initial economic assessment for the Project, thereby maximizing Whistler's full potential in investigating not only the mine development potential of the existing resources, but also to build a pipeline of resources which could feed into a larger potential future mining opportunity at the Whistler Project. Exploration programs, which are currently in the design phase, would aim to build upon the successes of the 2023-2024 exploration programs, that included: The longest drill intercept of consistent mineralization ever recorded at the Whistler Deposit: 652.5 meters (m) at 0.73 grams per tonne (g/t) gold (Au), 0.16% copper (Cu) and 1.5 g/t silver (Ag), or 1.00 g/t gold equivalent (AuEq) *, from 7.0 m to 659.5 m down hole. See news release dated September 30, 2024, for further information. A new drill discovery announced near Raintree West: 138.0 m at 0.99 g/t AuEq (comprised of 0.89 g/t Au and 0.05% Cu) plus 17.57 g/t Ag, 0.44% Pb and 0.95% Zn, located 500 meters south of the Raintree West deposit in an area with no previous drilling. See news release dated February 10, 2025, for further information. Technical Information Tim Smith, Chief Executive Officer of U.S. GoldMining, has supervised the preparation of this news release and has reviewed and approved the scientific and technical information contained herein. Mr. Smith is a "qualified person" as defined in Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects. For further information regarding the Project and the mineral resource estimates referenced herein, refer to the technical report summary titled "S-K 1300 Technical Report Summary Initial Assessment for the Whistler Project, South Central Alaska" with an effective date of September 12, 2024, and the technical report titled "NI 43-101 2024 Updated Mineral Resource Estimate for the Whistler Project, South Central Alaska" with an effective date of September 12, 2024, available under the Company's respective profiles at and About U.S. GoldMining Inc. U.S. GoldMining Inc. is an exploration and development company focused on advancing the 100% owned Whistler Gold-Copper Project, located 105 miles (170 kilometers) northwest of Anchorage, Alaska, U.S.A. The Whistler Project consists of several gold-copper porphyry deposits and exploration targets within a large regional land package entirely on State of Alaska Mining claims totaling approximately 53,700 acres (217.5 square kilometers). The Whistler Project Mineral Resource Estimate comprises 294 Mt at 0.68 g/t AuEq for 6.48 Moz AuEq Indicated, plus 198 Mt at 0.65 g/t AuEq for 4.16 Moz AuEq Inferred. Visit for more information, including high resolution figures. Forward-Looking Statements Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" within the meaning of the United States federal securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Such statements include statements with regard to the Company's expectations regarding the Project, planned work programs, including an initial economic assessment, and the project's exploration potential. Words such as "expects", "anticipates", "plans", estimates" and "intends" or similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on U.S. GoldMining's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict and involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of future exploration may not confirm expectations, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals or permits, title disputes other risks inherent in the exploration and development of mineral properties and the other risk factors set forth in the Company's filings with the U.S. Securities and Exchange Commission at. and Canadian Securities Administrators at Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release. Forward-looking statements contained in this news release are made as of this date, and U.S. GoldMining does not undertake any duty to update such information except as required under applicable law. SOURCE U.S. GoldMining Inc.
Yahoo
10-02-2025
- Business
- Yahoo
U.S. GoldMining Expands Western High-Grade Zone at Whistler Gold-Copper Deposit, Alaska: Intersects 458 meters at 0.75 g/t Gold Equivalent, Including 48 m at 1.23 g/t AuEq and 116 m at 1.00 g/t AuEq
ANCHORAGE, AK, Feb. 3, 2025 /CNW/ - U.S. GoldMining Inc. (NASDAQ: USGO) ("U.S. GoldMining" or the "Company") is pleased to announce new assay results from its 2024 confirmatory diamond core drilling program completed at the Whistler Gold-Copper Project (the "Project") in Alaska, U.S.A. The results reported in this news release highlight WH24-03 & WH24-04, which build upon the earlier success of the 2024 drill program including multiple broad intercepts and the best drill hole in the history of the property to date. Tim Smith, Chief Executive Officer of U.S. GoldMining, commented: "As a follow-up to the high-grade previously intersected in the western portion of the Whistler Deposit (WH24-02: 120 m at 1.00 g/t AuEq), WH24-04 was drilled to further delineate and target a potential extension of this high-grade zone, with the goal of further upgrading the existing mineral resource profile of the Project. The assays returned for WH24-04, which exceed the grades seen in prior drilling, demonstrate that metal grade improves with depth in the western portion of the Whistler Deposit, as predicted. This further demonstrates the Company's understanding of the zonation and controls on mineralization and why we see the potential to expand the existing Project mineral resource estimate ("MRE") beyond the current 6.48 million gold equivalent ounces in indicated resources, and further 4.16 million gold equivalent ounces in inferred resources. These drill results build towards our ongoing objectives of optimizing the large, high-quality and robust MRE, while concurrently conducting ongoing engineering and environmental studies. On the back of these latest drill results, we're very excited heading into the 2025 exploration season. In addition to our strong local and state support, Whistler is also now positioned to see greater federal support following President Trump's Executive Order dated January 20, 2025, "Unleashing Alaska's Extraordinary Resource Potential." Selected Drill Highlights: WH24-04 confirmed and extended the high-grade mineralization located within the western portion of the Whistler Deposit, which was initially intersected in WH24-02 (see news release dated November 18, 2024): Main Zone intercept of 458 meters ("m") at 0.46 grams per tonne ("g/t") gold ("Au"), 0.16% copper ("Cu") and 1.66 g/t silver ("Ag"), or 0.75 g/t gold equivalent ("AuEq")*, from 224 m to 682 m depth down hole; Including higher-grade intercepts: 48 m at 1.23 g/t AuEq (0.61 g/t Au, 0.34% Cu and 2.19 g/t Ag) from 260 m depth; and 50 m at 0.98 g/t AuEq (0.73 g/t Au, 0.13% Cu and 1.50 g/t Ag) from 406 m depth; and 116 m at 1.00 g/t AuEq (0.76 g/t Au, 0.13% Cu and 1.75 g/t Ag) from 508 m depth. WH24-03 tested the deep northwest quadrant of the Whistler Deposit: 12.7 m at 1.96 g/t AuEq (1.30 g/t Au, 0.35% Cu, 2.37 g/t Ag) from 40 meters depth. 139.9 m at 0.47 g/t AuEq (0.21 g/t Au, 0.14% Cu, 0.97 g/t Ag) from 385 meters depth, including; 28 m at 0.85 g/t AuEq (0.41 g/t Au, 0.24% Cu, 1.74 g/t Ag) from 401 meters depth. Assays remain pending for one additional drill hole from the Company's 2024 drilling program. *See Table 1 for further information. 2024 Drilling Program As reported on September 30, 2024, the Company completed six diamond core holes for 4,006 meters during the 2024 field season at the Project. Drilling at the Whistler Deposit (see Figure 1) was aimed at further delineating and extending areas of high-grade mineralization within deeper portions of the Whistler Deposit, building upon the success of the 2023 drilling program, which included a standout drill intercept of 652.5 m at 1.00 g/t AuEq, comprised of 0.73 g/t Au, 0.16% Cu and 1.5 g/t Ag from 7.0 m depth to 659.5 m down hole (reported in drill hole WH23-03; see news release dated September 30, 2024). Drilling Results Discussion Whistler Deposit Drilling 2024 The western portion of the Whistler Deposit (see Figure 2) is relatively under drilled with respect to its potential for expansion of mineralization and improved delineation of higher grade mineralization. It follows that the Company targeted this region in its 2024 drilling campaign. This focus also followed up on WH23-02, drilled in 2023, which demonstrated the potential to extend mineralization southwards along strike in the southwest quadrant of the Deposit, intersecting 142.3 m at 0.51 g/t AuEq from 305 m depth down hole (see news release dated January 16, 2024), and containing mineralization with a low gold:copper ratio and associated clay mineralogy indicative of relatively cooler and shallow mineralization. WH23-02 was thus interpreted to over-lie a hydrothermal center, which could contain deeper higher grade Au-Cu mineralization. Furthermore, WH24-02, drilled in 2024 (see news release dated November 18, 2024), returned additional positive results including a high-grade intercept of 120 m at 1.00 g/t AuEq, also testing the under-drilled western portion of the Whistler Deposit. The drill specifically targeted a position directly above a zone of stockwork quartz veining, interpreted as high temperature 'deep early' quartz veins. Such deep early quartz veins indicate the location of hydrothermal fluid ascent paths which brought Au-Cu up from below during the mineralization process. Thus, high grade mineralization was correctly postulated to occur between these geologically diagnostic zones, that is, above the deep early quartz veins, but below the relatively cool, low Au:Cu ratio mineralization seen in WH23-02. Following confirmation of this geological model (based on the positive results of WH24-02), the Company subsequently targeted additional under-drilled areas in the Whistler Deposit using these criteria to vector towards potentially higher grade mineralization. WH24-04 thus targeted 250 m vertically beneath WH23-02 and approximately 100 m to the south of the deep early quartz veining, to further test this geologic hypothesis of predictable high-grade zonation and to potentially extend mineralization into an under-drilled portion of the deposit. As predicted, WH24-04 subsequently intersected increasing gold:copper ratio down the drill hole, and over a total mineralized envelope of 591.00 meters at 0.66 g/t AuEq (0.37 g/t Au, 0.15% Cu and 1.48 g/t Ag) starting from 91 meters depth downhole. This mineralization intercept included, within the deeper portion of the envelope, a number of broad high grade zones (see Table 1 for details): 48 m at 1.23 g/t AuEq (0.61 g/t Au, 0.34% Cu and 2.19 g/t Ag) from 260 m downhole; 50 m at 0.98 g/t AuEq (0.73 g/t Au, 0.13% Cu and 1.50 g/t Ag) from 406 m downhole; and 116 m at 1.00 g/t AuEq (0.76 g/t Au, 0.13% Cu and 1.75 g/t Ag) from 508 m downhole. WH24-03 was designed to test the deep center-north of the Whistler Deposit. The upper part of the hole was primarily designed to infill poorly defined zones of copper-gold mineralization, and the deeper section designed to test a deep exploration target predicated on an observed zone of elevated molybdenum mineralization delineated in previous drilling, which suggested potential for higher grade gold-copper mineralization below this elevated molybdenum zone. The upper part of the hole intersected post-mineralization late-stage porphyry ("LSP") dykes striking at a shallow angle to the drill azimuth, with the exception of a short interval of high-grade mineralization located between LSP dykes, which returned 12.7 m at 1.96 g/t AuEq (1.30 g/t Au, 0.35% Cu, 2.37 g/t Ag) from 40 meters depth down hole. The middle section of the drill hole confirmed modelled mineralization grades hosted in Intermineral Porphyry, comprising 139.9 m at 0.47 g/t AuEq (0.21 g/t Au, 0.14% Cu, 0.97 g/t Ag) from 385.08 meters down hole, and including 28 m at 0.85 g/t AuEq (0.41 g/t Au, 0.24% Cu, 1.74 g/t Ag) from 401 meters down hole. In the lower portion of WH24-03 the postulated higher grade gold-copper mineralization below the elevated molybdenum zone was not intersected, however a newly defined zone of deep early quartz veins with three broad zones of low-grade mineralization was intercepted as follows: 36 m at 0.29 g/t AuEq (0.08 g/t Au, 0.12% Cu and 1.08 g/t Ag) from 643 m depth; 36 m at 0.40 g/t AuEq (0.20 g/t Au, 0.11% Cu and 1.23 g/t Ag) from 731 m depth; and 49 m at 0.28 g/t AuEq (0.18 g/t Au, 0.05% Cu and 1.90 g/t Ag) from 868 m depth. As successfully demonstrated with WH24-02 and WH24-04, the deep early quartz veins potentially underly zones of high-grade gold-copper mineralization. Thus, the region directly overlying this newly identified zone of deep early quartz veining in the lower portion of WH24-03, represents a potential deep target for future follow-up drilling. Table 1 – Project drill assay intercepts from the 2024 drilling program, received as of February 3, 2025. Bold intervals correspond with those reported in the 'Selected Drill Highlights' section above. Hole Number Interval From(m) Interval To(m) Core Length(m) Gold Grade(g/t) Copper Grade (%) Silver Grade (g/t) AuEq (g/t)* Lead Grade (%) Zinc Grade (%) WH23-03-EXT 0.41 717.00 716.59 0.68 0.15 1.40 0.93 - - Including 7.00 659.46 652.46 0.73 0.16 1.50 1.00 - - Including 131.00 307.00 176.00 1.24 0.19 1.66 1.55 - - And 373.50 423.00 49.50 0.92 0.10 1.82 1.10 - - And 441.00 457.00 16.00 1.03 0.20 1.64 1.36 - - And 480.00 501.00 21.00 0.80 0.35 2.11 1.37 - - And 523.00 539.00 16.00 0.83 0.30 1.14 1.31 - - And 575.00 632.00 57.00 1.07 0.17 1.18 1.36 - - WH23-03-EXT 698.03 717.00 18.97 0.52 0.11 1.02 0.70 - - WH24-01 107.00 109.00 2.00 0.45 - 8.60 0.58 0.61 3.07 WH24-01 147.00 151.00 4.00 0.28 - 7.10 0.42 0.44 1.20 WH24-01 159.00 161.00 2.00 0.64 - 4.50 0.72 0.29 1.59 WH24-01 249.00 266.00 17.00 0.33 0.07 41.97 0.45 0.33 0.75 Including 249.00 253.00 4.00 0.78 0.22 171.55 1.12 1.19 2.53 WH24-01 280.60 300.00 19.40 0.31 - 1.81 0.38 0.12 0.40 Including 284.00 286.00 2.00 1.23 - 4.70 1.32 0.37 1.27 WH24-01 311.00 372.38 61.38 0.36 0.09 4.43 0.53 0.14 0.39 Including 321.00 362.00 41.00 0.41 0.11 5.43 0.61 0.15 0.49 WH24-02 227.00 500.96 273.96 0.48 0.12 0.86 0.71 - - Including 291.00 444.00 153.00 0.65 0.14 0.74 0.90 - - Including 291.00 411.00 120.00 0.72 0.16 0.83 1.00 - - Including 297.00 337.00 40.00 0.82 0.25 1.13 1.28 - - And 357.00 377.00 20.00 0.96 0.16 0.93 1.26 - - WH24-03 40.00 52.74 12.74 1.30 0.35 2.37 1.96 - -385.08 525.00 139.92 0.21 0.14 0.97 0.47 - - Including 401.00 429.00 28.00 0.41 0.24 1.74 0.85 - -643.00 679.00 36.00 0.08 0.12 1.08 0.29 - -731.00 767.00 36.00 0.20 0.11 1.23 0.40 - -868.00 917.00 49.00 0.18 0.05 1.90 0.28 - - WH24-04 91.00 682.00 591.00 0.37 0.15 1.48 0.66 - - Including 224.00 682.00 458.00 0.46 0.16 1.66 0.75 - - Including 260.00 308.00 48.00 0.61 0.34 2.19 1.23 - - And 406.00 456.00 50.00 0.73 0.13 1.50 0.98 - - And 508.00 624.00 116.00 0.76 0.13 1.75 1.00 - - Notes: WH23-03-EXT drilled down-plunge to test the deeper extents of mineralization within the Whistler Deposit eastern high-grade core, therefore the mineralized intervals reported are not representative of true width. The mineralized intercepts within WH24-01 are estimated to be approximately two-thirds of true width. WH24-02 and WH24-03 drilled oblique to dip and strike to test the vertical profile of mineralization, therefore the mineralized intervals reported are not representative of true width. WH24-04 tested obliquely across strike and to depth to test the vertical profile of mineralization, thus the mineralized intervals reported are estimated to be approximately half to two-thirds of true width. *AuEq is calculated consistent with the methodology outlined in the report summary titled "S-K 1300 Technical Report Summary Initial Assessment for the Whistler Project, South Central Alaska" with an effective date of September 12, 2024, and the technical report titled "NI 43-101 2024 Updated Mineral Resource Estimate for the Whistler Project, South Central Alaska" with an effective date of September 12, 2024, each available under the Company's profile at and (collectively, the "Technical Reports"). Specifically, for drilling reported prior to the 2024 MRE update (WH23-03-EXT and WH24-01): below 10g/t Ag: AuEq=Au + Cu*1.5733 +0.0108Ag, and above 10g/t Ag: AuEq=Au + Cu*1.5733. For drilling reported subsequent to the 2024 MRE update (WH24-02, -03 & -04): below 10g/t Ag: AuEq=Au + (Cu%*1.771) + (Ag*0.0113), and above 10g/t Ag: AuEq=Au + (Cu%*1.771). AuEq calculations do not include Pb and Zn as it is unknown whether these metals can be recovered. Table 2 – Project 2023 & 2024 drill hole collar location coordinates. Hole Number Easting Meters(UTM Zone 18) Northing Meters(UTM Zone 18) Elevation(m above sea level) Depth (m) Azimuth(Degrees) Dip (Degrees) Status WH23-01 518,782 6,871,260 886.0 467.87 140.80 - 49.0 All assays received WH23-02 518,779 6,871,253 886.0 605.64 229.20 - 60.1 All assays received WH23-03-EXT 518,776 6,871,253 886.0 874.50 189.20 - 82.9 All assays received WH23-04 520,193 6,869,142 352.0 560.83 134.80 - 78.0 All assays received WH24-01 520,494 6,871,260 497.0 445.77 14.63 - 46.9 All assays received WH24-02 518,452 6,871,362 849.0 716.30 135.43 - 75.2 All assays received WH24-03 518,746 6,871,335 859.0 961.9 309.69 - 80.1 All assays received WH24-04 518,680 6,871,248 876.0 832.20 185.85 - 78.0 All assays received WH24-05 520,495 6,871,258 497.0 777.85 184.37 - 55.3 Assays Pending Technical Information Tim Smith, Chief Executive Officer of U.S. GoldMining, has supervised the preparation of this news release and has reviewed and approved the scientific and technical information contained herein. Mr. Smith is a "qualified person" as defined in Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects. For further details regarding the Project and the mineral resource estimates reported herein, please refer to the Technical Reports. Data Verification For the Project drill core sampling program, samples were taken from NQ/HQ diameter core by sawing the drill core in half, with one-half sent to Bureau Veritas Commodities Canada Ltd. ("BV") in Fairbanks, Alaska, for sample preparation, then to BV's analytical laboratory in Vancouver, Canada for assaying, and the other half of the core is retained at the site for future reference. Sample lengths downhole were generally 2.0 m, except where samples were taken to honor geological contacts. BV is a certified commercial laboratory and is independent of U.S. GoldMining. The Company has implemented a quality assurance and quality control program for the sampling and analysis of drill core samples, including duplicates, mineralized standards and blank samples for each batch of core samples. The gold analyses were completed by lead collection fire assay fusion with AAS finish (FA430 method) on 30 grams test weight. Copper, silver and other base metals assays (total suite of 45 elements) were assayed by 4-acid digestion and ICP-MS analysis (MA200 method) on 0.25 grams test weight. About U.S. GoldMining Inc. U.S. GoldMining Inc. is an exploration and development company focused on advancing the 100% owned Whistler Gold-Copper Project, located 105 miles (170 kilometers) northwest of Anchorage, Alaska, U.S.A. The Whistler Project consists of several gold-copper porphyry deposits and exploration targets within a large regional land package entirely on State of Alaska Mining claims totaling approximately 53,700 acres (217.5 square kilometers). The Whistler Project Mineral Resource Estimate comprises 294 Mt at 0.68 g/t AuEq for 6.48 Moz AuEq Indicated, plus 198 Mt at 0.65 g/t AuEq for 4.16 Moz AuEq Inferred. Visit for more information, including high resolution figures. Forward-Looking Statements Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" within the meaning of the United States federal securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Such statements include statements with regard to the Company's expectations regarding the Project, including its future potential and planned future programs, and the potential future benefits deriving from the Presidential Executive Order. Words such as "expects", "anticipates", "plans", estimates" and "intends" or similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on U.S. GoldMining's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict and involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of future exploration may not confirm expectations, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals or permits, title disputes other risks inherent in the exploration and development of mineral properties and the other risk factors set forth in the Company's filings with the U.S. Securities and Exchange Commission and Canadian Securities Administrators at Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release. Forward-looking statements contained in this news release are made as of this date, and U.S. GoldMining does not undertake any duty to update such information except as required under applicable law. View original content to download multimedia: SOURCE U.S. GoldMining Inc. View original content to download multimedia:
