Goldmining begins drilling at Sao Jorge

Executive Summary

• Goldmining Inc. has commenced its 2026 exploration drill program at the 100%-owned Sao Jorge project in Brazil’s Tapajos gold district.
• The company is executing an 8,000-metre, two-rig program to test high-priority targets, including the William South zone, which recently reported significant gold intercepts.
• The project features a large untested IP chargeability anomaly and a 12km x 7km footprint of elevated surface geochemical anomalies, indicating broad exploration potential.

Key Details

• Drilling Program Scope:
  • Two-rig, 8,000-metre exploration program.
  • Fully financed and actively turning on site.
  • Focus: Systematic drilling to follow up on high-priority targets generated through 2025 exploration in close proximity to the existing Sao Jorge mineral resource.
• William South Target Results (Reported Jan. 6, 2026):
  • Located within two kilometres of the main deposit.
  • SJRC-048-25: 12 metres at 2.38 grams per tonne gold (g/t Au) from 13 metres depth, including one metre at 22 g/t Au.
  • SJRC-049-25: Four metres at 1.11 g/t Au from 46 metres depth.
  • SJRC-047-25: One metre at 1.23 g/t Au from 16 metres depth.
• Geophysical and Geochemical Targets:
  • Testing new zones of potential bedrock mineralization at high-priority geochemical and geophysical targets.
  • Large untested induced polarization (IP) chargeability anomaly identified.
  • Continuing IP survey covering 49 line kilometres to the east of the deposit.
• Project Footprint and Potential:
  • Emerging and expanding mineral system defined by a 12-kilometre-by-seven-kilometre footprint of elevated surface geochemical anomalies surrounding the deposit.
  • Property size: 46,485 hectares.
  • Infrastructure: Grid power, highway access, and a fully operational 50-person camp.
• Qualified Person: Tim Smith, Vice-President, Exploration, verified and approved all scientific and technical information.

Notable Quotes

• "This drill program marks a pivotal step in our 2026 exploration strategy at Sao Jorge. We are exploring in the prolific Tapajos gold district, with an estimated 30 million ounces of historical surficial gold production, and our recent targeting work has outlined some of the most robust and continuous gold anomalies we've seen on our 46,485-hectare property. We already have excellent infrastructure in place, including grid power, highway access and a fully operational 50-person camp, so more of our dollars can go directly towards potentially expanding our mineral resource estimate." — Alastair Still, President and CEO