GoldMining Inc. (TSX: GOLD) (NYSE American: GLDG) is pleased to announce additional infill assay results from an infill core sampling program at the São Jorge property. The initial phase of the program targets existing unsampled core intervals from previous drill programs at the 100% owned São Jorge property, located alongside regional highway BR-163 in the Tapajos region, Pará State, Brazil (see Figures 1-3 and Tables 1-3).

Highlights:

• Assay results are reported from 11 historic holes to supplement results reported on October 4 (see Figure 1 for hole locations);
• Previously unsampled intervals of mineralized saprolite have been identified in at least two holes occurring from surface (see Figure 2 and 3):
  • SJD-067-06: 1.06 grams per tonne gold over 7.6m from surface to 7.6m; and
  • SJD-029-05: 0.62 g/t gold over 12.0m from surface to 12.0m
  • In both holes, the mineralization occurs in oxidized saprolite, well outside the limits of currently modeled mineralization
• SJD-003-05 includes a previously unsampled interval (see Figure 4):
  • 0.25 g/t over 6.4 m from 244.0m to 250.4m (including 1.27 g/t over 1.0m)
• SJD-014-05 includes previously unsampled intervals (see Figure 5):
  • 0.25 g/t over 3.0 m from 207.0m to 210.0m; and
  • 0.23 g/t over 2.0 m from 229.0m to 231.0m.

Alastair Still, CEO of GoldMining, commented: “This new information further demonstrates the potential of the São Jorge deposit which is located on an extensive 45,997 hectare land package easily accessible by state highway. These latest assay results from our infill sampling program confirm the presence of mineralized intervals of saprolite that were not only previously unsampled but importantly are located at surface and outside of any known mineralization or resource models. We are encouraged by the new information and will be reviewing opportunities to generate additional targets and expand the already exceptional potential of this large property.”

GoldMining initiated a preliminary economic assessment at São Jorge on completion of its recently announced updated Mineral Resource estimate for the project (see June 1, 2021 news release). Part of the initial PEA work has identified opportunities to better define existing mineralization, as evident from this infill drill core sampling program. The assay results released today has improved our understanding of the current models and enhances our identification of new mineralized intervals to be tested. Table 1 lists all significant assay intervals from the first phase of infill sampling; Table 2 lists collar locations from holes with infill sampling; and Table 3 lists all intervals sampled in the infill sampling program. The results of the initial infill sampling program justify a follow-up phase of additional sampling.

Table 1 – Selected significant gold assay results from infill sampling of previously unsampled core. Mineralized intervals above 0.1 g/t Au are reported.

Table 2 – Summary of gold assay results from previously unsampled core that comprise the first phase of the infill sampling program. Significant results are reported when there is an interval containing a sample grading above 0.10 g/t gold. Intervals showing NSV (no significant value) are reported when the interval does not contain a result exceeding 0.10 g/t gold.

Table 3 – Collar coordinates from all holes that comprise the initial infill sampling program.

All results are expressed as core length. There is insufficient work to estimate true thickness at this time.

Qualified Person

Paulo Pereira, P. Geo., President of GoldMining Inc. has supervised the preparation of, and approved, the scientific and technical information contained herein. Mr. Pereira supervised the sampling program and has verified the exploration information contained herein. Mr. Pereira is a Qualified Persons as defined in National Instrument 43-101.

Data Verification

For this program of 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 Labóratorios Ltda. (“SGS GEOSOL”) and the other half retained for future reference. SGS GEOSOL is a certified commercial laboratory located in Vespasiano, Minas Gerais, Brazil. GoldMining has implemented a stringent quality assurance and quality-control program for the sampling and analysis of drill core which includes insertion of duplicates, mineralized standards and blank samples for each batch of 100 samples. The gold analyses were completed by fire-assays with an atomic absorption finish on 50 grams of material. Repeats were carried out by fire-assay.

About GoldMining Inc.

GoldMining Inc. is a public mineral exploration company focused on the acquisition and development of 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, U.S.A., Brazil, Colombia, and Peru.  The Company also owns 20 million shares of Gold Royalty Corp. (NYSE American: GROY).