Infill Core Sampling At Sao Jorge From First Two Holes

VANCOUVER - GoldMining Inc. reported initial infill assay results from the first two holes assayed as part of an ongoing fourteen hole infill core sampling program. The confirmatory assay program targets existing unsampled core intervals from previous drill programs at the 100% owned Sao Jorge property, located alongside regional highway BR-163 in the Tapajos region, Para State, Brazil.

GoldMining initiated a preliminary economic assessment ("PEA") at Sao Jorge on completion of a Mineral Resource estimate. Initial PEA work has identified opportunities to better define and expand existing mineralization, and included this infill drill core sampling program. The Company intends to announce additional assay results from this program as it progresses.

Alastair Still, CEO, said, "This is an exciting period for GoldMining as we advance several projects, including Sao Jorge, towards a preliminary economic assessment and as encountered here, the geologic results highlight the unrealized potential in our extensive portfolio of assets within the Americas. The assay results released previously unsampled core has identified potential additional mineralized intervals not previously recognized or sampled and helps support the grade and continuity of known mineralization at Sao Jorge. Drill core collected by previous operators at Sao Jorge had not been continuously sampled, and we identified intervals with weak to moderate hydrothermal alteration in areas of unsampled core from earlier drill programs. Previous sampling programs focused on strongly altered zones based on a visual determination with limited or intermittent sampling in broader zones characterized by varying degrees of alteration and mineralization. These unsampled intervals are the target of our infill sampling program and will help better define limits of mineralization in certain areas of the deposit."

Results include an interval of weak to moderate alteration and mineralization within a previously unsampled interval from 50.0 to 70.0m in hole SJD-094-11 and extensive sections of SJD-058-06 from 140.0 to 259.0m which was drilled as a twinned hole next to SJD-058A-06 with the majority of the hole previously unsampled that contained extensive sections of strongly altered and mineralized materials that may be atypical of the remaining holes to be re-sampled. The costs for sample preparation and assaying for this program of work is being funded using cash on hand.