GoldMining announces resource estimate for the Yellowknife Gold Project

4 March 2019

GoldMining Inc. is pleased to announce an updated mineral resource estimate for its 100% owned Yellowknife Gold Project, Northwest Territories, Canada. The mineral resource estimate was prepared by SRK Consulting (U.S.), Inc. and includes a measured and indicated resource of 14,108,000 tonnes grading 2.33 g/t gold (1,059,000 ounces) and an inferred resource of 9,302,000 tonnes grading 2.47 g/t gold (739,000 ounces) using a variable cut-off of 0.5 and 1.5 g/t gold for pit constrained and underground resources, respectively. 

Highlights:

• Updated mineral resource for the Yellowknife Project includes a measured and indicated resource of 1,059,000 ounces grading 2.33 g/t gold and an inferred resource of 739,000 ounces grading 2.47 g/t gold (Table 1);
• This resource estimate increases GoldMining's aggregated measured and indicated resource to 10,530,000 ounces gold (13,429,000 ounces gold equivalent) and aggregated inferred resource to 12,444,000 ounces gold (14,896,000 ounces gold equivalent) resulting in a 13% increase in the measured and indicated categories and an 11% increase in the inferred category across all of its Projects (Table 2);
• Extensive historic exploration work completed on the Project including diamond drilling (231,600 m in 1,061 holes), underground development (2,399 m), bulk sampling (10,200 t) and positive metallurgical studies;
• Project is accessible by permitted winter road extending 95 km north from Yellowknife with nearby infrastructure including hydro-electric power, air transportation, service providers and skilled workforce; and
• Located in the mining-friendly jurisdiction of the Northwest Territories, home to major mines operated by DeBeers, Rio Tinto, and The Washington Companies.
   

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