Metallurgical Testwork Begins At Whistler Gold-Copper Project

ANCHORAGE, AK - U.S. GoldMining Inc. has commenced metallurgical testwork, which will help to inform the proposed initial economic assessment for the Whistler Gold-Copper Project, located 105 miles northwest of Anchorage, Alaska. The proposed study (PEA) will be intended to constitute an initial assessment under U.S. Regulation S-K 1300 and a preliminary economic assessment under Canadian National Instrument 43-101.

Tim Smith, Chief Executive Officer, said, "The Company is delighted to kick off one of the cornerstone studies intended to inform a robust PEA for the Project. Previous metallurgical testwork concluded that the Whistler gold-copper porphyry mineralization is amenable to a conventional flotation route that produces a saleable high quality copper concentrate with gold and silver credits. With previous testwork indicating recoveries of 70% and 83% for gold and copper respectively, we believe that there is room for recovery optimization. Our mission with this current round of testwork is to follow-up on the previous conventional flotation testwork and to optimize the process path. Additional variability data points will enable us to understand metal recoveries in different parts of the deposit, and to quantify the extent to which cyanide leaching can potentially return improved gold recoveries."