GoldMining Expands Portfolio of Active Exploration Assets in Brazil, New 'Colider' Exploration Concession Granted in Mato Grosso State

The most recent news release, dated November 12, 2025, announced that GoldMining Inc. has been granted the renewal of an exploration concession for its Colíder Project in the Mato Grosso State of Brazil. The renewal, for exploration claim 866032/2008, is effective from October 30, 2025, and is valid for three years. The Chief Executive Officer, Alastair Still, stated that the Colíder concession adds to their prospective gold (± copper) projects in the emerging Alta Floresta Gold Belt. Initial analysis of historic data suggests high prospectivity for bedrock gold and copper mineralization, providing additional optionality to their extensive portfolio. The company plans to compile and validate historic exploration results, followed by planning for systematic exploration.

This news release is administrative in nature, concerning the renewal of an exploration concession. While positive for maintaining property rights and exploration optionality, it does not present new drill results, resource estimates, or significant strategic developments. Therefore, its direct impact on the stock price is likely neutral to routinely positive, confirming continued operational activity.

However, it is important to assess this news within the context of recent developments: * Sao Jorge Project (Brazil): On October 20, 2025, GoldMining reported initial drill results from its 2025 exploration program at Sao Jorge, identifying at least four new mineralized zones over 1 km away from previously known mineralization. This program, which exceeded its planned 8,000 meters of drilling, was described by the company as "Material - Positive" and positions them for follow-up drilling. This demonstrates active and successful exploration on a core asset. * Crucero Project (Peru): Multiple news releases (April 23, 2025, August 20, 2025) highlighted the significant gold-antimony mineralization at Crucero, with plans to incorporate antimony into a new gold-antimony mineral resource estimate. This re-evaluation unlocks additional value from an existing asset due to rising antimony prices. * Rea Uranium Project (Canada): Exploration approval was received (May 1, 2025) for a diamond drilling program on the 75%-owned Rea Uranium Project in the Athabasca Basin, a high-grade uranium district. An updated NI 43-101 technical report was filed (May 28, 2025). This marks a new, strategic commodity focus. * Whistler Project (Alaska): The majority-owned subsidiary, U.S. Goldmining Inc., was included in the Russell 3000 Index (June 3, 2025), increasing its visibility and liquidity. Additionally, Alaska committed to advancing critical infrastructure (West Susitna Access Project) that could significantly benefit the Whistler Gold-Copper Project (July 29, 2025). * Capital Management: The company executed several block trades of NevGold Corp. shares (August 26-27, 2025) and closed a $500,000 flow-through private placement for the Yellowknife project (June 9, 2025). These actions, along with the renewal of its At-The-Market (ATM) equity program for $50 million (December 21, 2024), demonstrate ongoing capital raising and strategic monetization to fund exploration and maintain a "debt-free" status. * Financials (as of August 31, 2025): The company reported cash and cash equivalents of $6.46 million. Working capital increased to $5.96 million. While cash burn from operating activities remains significant (approx. $7.62 million for the 3 months ended Aug 31, 2025), this has been partially offset by proceeds from investment sales and ATM offerings.

In summary, while the Colíder concession renewal itself is a routine administrative update, it falls within a period of robust operational activity and positive developments across GoldMining's diverse project portfolio, including new exploration successes and strategic de-risking of assets. Therefore, the news contributes positively to the overall sentiment, even if not individually material.

GoldMining Inc. is a mineral exploration company focused on the acquisition, exploration, and development of gold and gold-copper projects in the Americas. It holds a large and diversified portfolio of resource-stage gold and gold-copper projects across Canada, the USA, Brazil, Colombia, and Peru. The company's strategy involves leveraging its portfolio value through exploration, strategic partnerships, and potential monetization of non-core assets to fund its most promising projects.

Flagship Projects & Development: * S\u00e3o Jorge Project (Brazil): This is a key focus for active exploration. An updated Mineral Resource Estimate (effective Jan 28, 2025) showed Indicated resources of 624,000 oz Au at 1.00 g/t and Inferred resources of 129,000 oz Au at 0.72 g/t (using a $1,950/oz gold price and 0.27 g/t Au cut-off). The company has stated the deposit remains open in all directions with a 12 km x 7 km geochemical footprint, indicating significant exploration potential. The 2025 exploration program, the largest in the company's history, has already identified multiple new mineralized targets. * Whistler Gold-Copper Project (Alaska, USA): Held through its 79%-owned subsidiary, U.S. Goldmining Inc. This project hosts significant copper and gold resources (Indicated: 1 billion lbs copper, 3.72M oz gold; Inferred: 300 million lbs copper, 0.23M oz gold). Recent news highlights its strategic value due to surging copper prices and potential benefits from proposed government-backed infrastructure development in Alaska. An initial economic assessment is underway. * Crucero Project (Peru): This project is being re-evaluated for its significant gold-antimony mineralization. Historical drill results have been re-analyzed to confirm high-grade AuEq intercepts, with a new gold-antimony mineral resource estimate anticipated to substantially increase the gold equivalent metal content. * Rea Uranium Project (Western Athabasca Basin, Canada): GoldMining holds a 75% interest, with Orano Canada Inc. holding 25%. The project has received exploration approval for diamond drilling and is located in a world-renowned high-grade uranium district, representing a strategic diversification into critical metals. * Yellowknife Gold Project (Canada): A 100%-owned project with an existing resource (Indicated: 1.059M oz Au; Inferred: 739k oz Au) that is currently undergoing its first exploration program since 2012. * Boa Vista Project (Brazil): GoldMining entered into an earn-in agreement with Australian Mines Limited (AUZ) for AUZ to acquire up to 80% interest in the project. This strategic move allows GoldMining to de-risk the asset and retain a 20% interest, while focusing management resources on other core projects.