GoldMining Reports Initial Drill Results and Confirms Multiple New Mineralized Targets across Sao Jorge Project, Brazil

GoldMining Reports Initial Drill Results and Confirms Multiple New Mineralized Targets across São Jorge Project, Brazil PR Newswire VANCOUVER, BC, Oct. 20, 2025 VANCOUVER, BC, Oct. 20, 2025 /PRNewswire/ - GoldMining Inc. (the "Company" or "GoldMining") (TSX: GOLD) (NYSE American: GLDG) is pleased to report initial assay results from its previously announced 2025 RC drilling program at its 100% owned São Jorge Project ("São Jorge" or the "Project") in the Tapajós gold district ("Tapajós"), Pará State, Brazil. The ongoing program, including reverse circulation ("RC") drilling results in this release, is designed to test new targets outside of known areas of mineralization and is the most extensive exploration program undertaken by the Company to date. Results from other components of the program, including drilling designed to target expansion of the São Jorge deposit (the "Deposit"), will be reported as results are available. Highlights: New exploration discoveries at four new gold prospects within 3.5 kilometre ("km") radius of the existing São Jorge deposit. Drill intercepts include: Dragon West:  1 metre ("m") at 5.98 grams per tonne ("g/t") gold ("Au") from 19 metres ("m") depth (SJRC-004-25), and; 1 m at 3.08 g/t Au from 2 m depth (SJRC-006-25). William North:    1 m at 2.90 g/t Au from 49 m depth (SJRC-032-25), and; 1 m at 1.75 g/t Au from 44 m depth (SJRC-033-25). Ivonette:    9 m at 0.43 g/t Au from 1 m depth (SJRC-043-25), including 1m at 1.06 g/t Au from 4 m depth. William South:    4 m at 1.78 g/t Au from 12 m depth (SJRC-46-25), including 1 m at 5.03 g/t Au. A total of 8,514 metres of drilling completed to date, comprising 3,862 m diamond core, 2,553 m RC and 2,100 m auger drilling, of a total planned drilling program of up to 5,000 metres diamond core and 3,000 metres auger drilling. For the first time ever on the Project, RC drilling was introduced, which replaced some of the budgeted diamond core drilling as a cost effective method to test multiple shallow targets. A significant number of diamond core, RC and auger samples are currently being processed at the laboratory and/or undergoing quality assurance and quality control procedures. Further planned activities include the resumption of RC drilling in the near-term to complete step out drilling on the new discoveries, and potential for additional follow-up diamond core drilling. A number of additional surface geochemical anomalies support potential expanded auger drilling. Geophysical surveying including Induced Polarisation ("IP") is currently underway. Airborne LiDAR survey completed to assist with mapping and sampling programs. Alastair Still, Chief Executive Officer of GoldMining, commented: "GoldMining is excited to report initial exploration results from our 2025 exploration program designed to test for new targets, outside of known areas of mineralization, at our São Jorge Project. These initial assay results demonstrate at least 4 new zones of mineralization that have never previously been drilled, each of which occurs more than 1 km away from previously known mineralization. The nature and style of mineralization, similar to that of the existing mineral resources at the São Jorge deposit, has ideally positioned us for follow-up drilling that will be designed to better define and quantify additional near-surface mineralization occurring over a 12 km x 7 km geochemical footprint identified over the São Jorge property-scale mineral system.  In addition to furthering our exploration of these newly identified targets, we have further exploration results pending that tested for additional zones of mineralization, including drilling that targeted extension of the known mineral resource area. The excellent infrastructure at the 46,000 hectare Project includes an existing 50-person camp and easy access to paved highway and grid power that has facilitated our exploration activities as we advance our programs to better quantify the gold endowment of this highly prospective regional-scale property in the rapidly emerging Tapajós gold district." Project Overview The São Jorge Gold Project is located in the Tapajós gold district (see Figure 1) in the south-central portion of the Amazon Craton. The São Jorge gold deposit is a granite-hosted, intrusion-related gold deposit, which is a similar deposit style to the Tocantinzinho gold mine located approximately 80 km northwest of São Jorge. Exploration activities at the Project carried out by the Company over the past two years have successfully delineated several new exploration targets comprising gold ± copper ± molybdenum ± silver soil geochemical anomalies, which cumulatively outlines a potential large mineral system (see new releases dated March 18 and April 14, 2025). 2025 São Jorge Mineral System Exploration Program Surrounding the previously delineated São Jorge deposit, which has a defined 1.4 km strike length, the broader mineral system comprises a zone of contiguous surface geochemical anomalies over an area of 12 km x 7 km, which at present frames the extent of the gold-in-soil geochemical footprint which the Company interprets to be the surface expression of a broad intrusive related gold mineral system. The São Jorge mineral system is defined by a comprehensive exploration data set which the Company has developed over the previous campaigns. In addition to the 12,193 soil and 1,132 rock samples collected to date, previous IP surveys suggest broad sub-surface chargeability anomalies which may relate sulphide mineralization in bedrock. At the deposit, sulphide content demonstrates a positive correlation with gold content. The ongoing 2025 geophysical program comprises approximately 40 line km of IP surveying which is approximately 75% complete, which will tie into the prior IP grid and provide a comprehensive 3D interpretation of zones of potential sulphide mineralization (chargeability anomalies) in bedrock. These systematic exploration programs, combined with drone imagery and LiDAR surveying to map topography and areas of prior informal mining ('garimpos'), and surface geological mapping and prospecting, serves to build up a comprehensive data set to delineate and prioritize prospective zones for drill testing. The Company's 2025 drilling program has the objective to test the numerous targets developed from these prior exploration programs, and has, to date, comprised 3,862 m diamond core, 2,553 m RC and 2,100 m auger drilling. Auger drilling which tests to a maximum depth of 15 m vertical is used as a first pass drill test of the top of weathered bedrock (saprolite) beneath transported colluvial cover. RC drilling subsequently provides a relatively cheap and rapid test to approximately 50 m vertical depth through the saprolite profile and into top of fresh bedrock. Finally, diamond core drilling (to depths in excess of 500 m vertical) provides deeper testing of potential mineralized zones in bedrock.  Of the 65 RC holes drilled to date for a total of 2,553 metres, assays have been returned for 47 holes, with the remaining 18 holes pending assays. To date, four drill target areas have returned +1g/t Au intercepts in RC drilling and warrant immediate additional step out RC drilling to delineate geometry and extents of mineralization, potentially followed by deeper follow-up diamond core drilling.  Dragon West: Located 2.5 km west of the Deposit, comprising seven holes drilled on three fences to test a zone of elevated gold-in-soil geochemistry coincident with a WNW-ESE striking linear feature in magnetics. The host rock comprises monzogranite (equivalent host lithology of mineralization at the Deposit). Additional infill and step out RC drilling is planned to define the extent and geometry of mineralization. William North: Located 3.3 km north of the Deposit, comprising four holes drilled on two fences to test beneath a shallow garimpo (informal colluvial mine) with exposed weathered (saprolitic) monzogranite containing abundant gossan and sulphide mineralization. Drilling has not yet fully undercut the garimpo; subsequently deeper diamond core drilling follow up is planned. Ivonette: Located 2 km southeast of the Deposit, comprising six holes drilled on two fences to test a zone of elevated gold-in-soil geochemistry coincident with a WNW-ESE striking linear feature in magnetics. Additional infill and step out RC drilling is planned to define the extent and geometry of mineralization. William South: Located 2 km north of the Deposit, comprising seven holes drilled on a single fence to test beneath a zone of elevated gold-in-soil geochemistry which extends west of the portion of the prospect previously drilled with auger in 2024 (results included 1 m at 17.14 g/t Au from 12 m depth and 5 m at 2.78 g/t Au from 10 m depth, see news releases September 9 and November 11, 2024). The 2025 RC drilling intersected weathered monzogranite containing disseminated pyrite mineralization. An additional 13 RC holes are pending assays. The Dragon West, Ivonette and Dragon South drill prospects potentially align along a WNW striking structural corridor, parallel with the São Jorge trend (see Figure 2). Similarly, the William North and South prospects are interpreted to lie within WNW striking structural corridors. Mineralization at the Project potentially occurs at the intersection of these WNW oriented structural corridors with prospective monzogranitic phases of the intrusive bedrock.  The RC drill has recently been remobilized to site and follow up drilling is ongoing at each of the prospects described above, with the objective to expand the mineralization intersected to date and potentially define new mineral resources.  Table 1 São Jorge 2025 drilling program (as of October 20, 2025).  Prospect Name DDH Interval From (m)  Interval To  (m)  Sample Length  (m)  Au Grade (g/t)  Dragon West  SJRC-001-25 NSR  SJRC-002-25 4 5 1 0.30 SJRC-003-25 NSR SJRC-004-25 19 23 4 1.76 including 19 20 1 5.98 SJRC-005-25 17 18 1 0.21 21 22 1 0.55 SJRC-006-25 2 3 1 3.08  SJRC-007-25 to  SJRC-014-25 NSR  SJRC-015-25 19 20 1 0.42 SJRC-016-25 to SJRC-017-25 NSR SJRC-018-25 3 4 1 0.19 SJRC-019-25 to SJRC-028-25 NSR SJRC-029-25 4 5 1 0.15 William North  SJRC-030-25 to SJRC-031-25 NSR SJRC-032-25 37 38 1 0.11 49 50 (EOH) 1 2.90 SJRC-033-25 39 40 1 0.17 41 42 1 0.21 44 45 1 1.75 49 52 3 0.40 Pedro Gaúcho  SJRC-034-25 15 16 1 0.19 SJRC-035-25 25 26 1 0.13 SJRC-036-25 5 7 2 0.13 16 17 1 0.27 18 19 1 0.14 SJRC-037-25 to SJRC-038-25 NSR Ivonette SJRC-039-25 NSR SJRC-040-25 6 11 5 0.20 19 30 11 0.37 including 23 24 1 0.81 29 30 1 0.63 SJRC-041-25 to SJRC-042-25 NSR SJRC-043-25 1 10 9 0.43 including 4 5 1 1.06 SJRC-044-25 NSR William South SJRC-045-25 21 22 1 0.48 47 48 1 0.22 SJRC-046-25 12 16 4 1.78 including 13 14 1 5.03 including 14 15 1 1.19 24 25 1 0.19 49 51 2 0.13 Note: 'NSR': no significant results. True width of mineralization is estimated to be approximately two-thirds of downhole length, assuming primarily steeply dipping vein-hosted mineralization intersected by inclined (-60° dip) drill holes. Table 2 São Jorge RC drill hole collar location coordinates (as of October 20, 2025).  Hole Number Easting Metres (UTM Zone  21S) Northing  Metres (UTM Zone  21S) Elevation   (m above  sea level)  Dip  (°) Azimuth   (°) Depth  (m) Status SJRC-001-25 653891 9282977 199.57 -60 180 40 Results Received  SJRC-002-25 653893 9282926 205.33 -60 180 30 Results Received SJRC-003-25 654099 9282889 196.39 -60 180 25 Results Received SJRC-004-25 654258 9282949 198.09 -60 180 30 Results Received SJRC-005-25 653894 9282789 200.33 -60 360 25 Results Received SJRC-006-25 654098 9282786 223.67 -60 360 30 Results Received SJRC-007-25 654271 9282741 216.01 -60 360 25 Results Received SJRC-008-25 653486 9283739 247.26 -60 360 15 Results Received SJRC-009-25 653490 9283841 247.47 -60 360 21 Results Received SJRC-010-25 653688 9283855 241.80 -60 360 25 Results Received SJRC-011-25 653683 9283940 227.63 -60 360 30 Results Received SJRC-012-25 653689 9284042 236.42 -60 360 25 Results Received SJRC-013-25 653918 9283957 239.75 -60 360 30 Results Received SJRC-014-25 653903 9284037 239.93 -60 360 25 Results Received SJRC-015-25 653882 9284141 191.36 -60 360 25 Results Received SJRC-016-25 652641 9282394 191.36 -60 150 30 Results Received SJRC-016B-25 652641 9282394 190.07 -60 330 30 Results Received SJRC-017-25 652698 9282469 192.36 -60 150 30 Results Received SJRC-018-25 652728 9282565 190.55 -60 150 30 Results Received SJRC-019-25 652559 9282342 189.39 -60 130 18 Results Received SJRC-020-25 652486 9282288 187.20 -60 180 25 Results Received SJRC-021-25 652387 9282150 188.78 -60 180 21 Results Received SJRC-022-25 652301 9282197 189.17 -60 180 25 Results Received SJRC-023-25 652223 9282137 226.90 -60 180 25 Results Received SJRC-024-25 652129 9282110 188.33 -60 180 25 Results Received SJRC-025-25 652028 9282132 190.07 -60 180 25 Results Received SJRC-026-25 651930 9282116 186.76 -60 180 25 Results Received SJRC-027-25 651827 9282125 186.81 -60 180 26 Results Received SJRC-028-25 652802 9282206 192.68 -60 330 31 Results Received SJRC-029-25 652736 9282180 190.47 -60 330 21 Results Received SJRC-030-25 656200 9286496 219.02 -60 360 50 Results Received SJRC-031-25 656201 9286520 217.62 -60 360 50 Results Received SJRC-032-25 656200 9286545 216.43 -60 360 50 Results Received SJRC-033-25 656236 9286543 216.62 -60 360 70 Results Received SJRC-034-25 659993 9281950 227.79 -60 360 50 Results Received SJRC-035-25 659917 9281909 230.39 -60 330 50 Results Received SJRC-036-25 659900 9281940 229.68 -60 360 30 Results Received SJRC-037-25 659789 9281849 230.76 -60 330 50 Results Received SJRC-038-25 659693 9281802 229.05 -60 330 40 Results Received SJRC-039-25 658549 9281097 236.21 -60 45 30 Results Received SJRC-040-25 658596 9281155 231.24 -60 45 39 Results Received SJRC-041-25 658647 9281203 227.16 -60 45 33 Results Received SJRC-042-25 658724 9281148 223.86 -60 45 30 Results Received SJRC-043-25 658670 9281098 231.37 -60 45 30 Results Received SJRC-044-25 658616 9281042 234.90 -60 45 35 Results Received SJRC-045-25 656030 9284637 215.05 -60 360 51 Results Received SJRC-046-25 656018 9284612 215.71 -60 360 51 Results Received SJRC-047-25 656018 9284587 216.19 -60 360 60 Pending Results SJRC-048-25 656015 9284560 216.31 -60 360 55 Pending Results SJRC-049-25 656018 9284534 216.82 -60 360 55 Pending Results SJRC-050-25 656014 9284511 216.55 -60 360 55 Pending Results SJRC-051-25 656017 9284485 216.10 -60 360 39 Pending Results SJRC-052-25 656792 9284197 216.70 -60 360 51 Pending Results SJRC-053-25 656790 9284228 216.22 -60 360 51 Pending Results SJRC-054-25 656794 9284247 215.94 -60 360 51 Pending Results SJRC-055-25 656790 9284268 215.62 -60 360 51 Pending Results SJRC-056-25 656789 9284298 215.15 -60 360 56 Pending Results SJRC-057-25 656542 9284235 220.65 -60 360 60 Pending Results SJRC-058-25 656542 9284213 221.22 -60 360 56 Pending Results SJRC-059-25 656543 9284189 221.65 -60 360 60 Pending Results SJRC-060-25 656543 9284165 222.68 -60 360 52 Pending Results SJRC-061-25 656645 9284382 216.44 -60 360 60 Pending Results SJRC-062-25 656642 9284363 216.13 -60 360 60 Pending Results SJRC-063-25 656640 9284338 216.70 -60 360 60 Pending Results SJRC-064-25 656641 9284311 217.90 -60 360 60 Pending Results Data Verification For drill core sampling, samples were taken from the NQ/HQ core by sawing the drill core in half, with one-half sent to SGS Geosol Laboratórios Ltda. ("SGS") in Brazil for assaying, and the other half of the core retained at the site for future reference. Sample lengths downhole were uniformly 1.0 m. For the auger drilling program, samples were collected at 1 m sample intervals, with the material being dried, homogenized and split in the field to obtain a 1 kg representative sample which was sent to SGS for analysis. The remaining auger sample material is stored until the lab results are received, and a 1 kg sample duplicate is maintained in the archive. For the RC drilling program, samples were collected at 1 m sample intervals, generating approximately 25 kg samples, with the material being dried, homogenized and split in the field to obtain a 1 kg representative sample which was sent to SGS for analysis. The remaining RC sample material is stored until the lab results are received, and approximately 20 kg of the original samples are maintained in the archive. SGS is a certified commercial laboratory located in Vespasiano, Minas Gerais, Brazil, and is independent of GoldMining. GoldMining has implemented a quality assurance and quality control program for the sampling and analysis of drill core and auger samples, including duplicates, mineralized standards and blank samples for each batch of 100 samples. The gold analyses are completed by FAA505 method (fire-assay with an atomic absorption finish on 50 grams of material). Qualified Person Paulo Pereira, P. Geo., President of GoldMining, has supervised the preparation of, verified and approved all 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"). Visit www.goldmining.com for more information, including high-resolution figures, and to review the Technical Report titled "NI 43-101 Technical Report, São Jorge Project, Pará State, Brazil," with an effective date of January 28, 2025. About GoldMining Inc. GoldMining Inc. is a public mineral exploration company focused on acquiring and developing gold assets in the Americas. Through its disciplined acquisition strategy, GoldMining now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, the U.S.A., Brazil, Colombia, and Peru. The Company also owns approximately 21.5 million shares of Gold Royalty Corp. (NYSE American: GROY), 9.9 million shares of U.S. GoldMining Inc. (Nasdaq: USGO) and 19.1 million shares of NevGold Corp. (TSXV: NAU). See www.goldmining.com for additional information. Notice to Readers Technical disclosure regarding São Jorge 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. 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 the Project, the 2025 program and other expected work programs thereat, 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 GoldMining?s 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. View original content to download multimedia:https://www.prnewswire.com/news-releases/goldmining-reports-initial-drill-results-and-confirms-multiple-new-mineralized-targets-across-sao-jorge-project-brazil-302588510.html SOURCE GoldMining Inc. Contact: For additional information, please contact: GoldMining Inc., Amir Adnani, Co-Chairman; David Garofalo, Co-Chairman; Alastair Still, CEO; Telephone: (855) 630-1001, Email: [email protected]