GoldMining Inc. (TSX:GOLD) (NYSE:GLDG) (the "Company" or "GoldMining") is pleased to announce the results of a preliminary economic assessment ("PEA") on its São Jorge Project (the "Project"), located in Pará State, Brazil.

All currency amounts herein are in US dollars unless otherwise indicated.

PEA Highlights

Strong Base Case Economics: The PEA sets out a base case scenario with an after-tax net present value at a 5% discount rate ("NPV5%") of $532 million and an after-tax internal rate of return ("IRR") of 42.4% utilizing base case gold price of $3,500 per ounce ("oz") and an initial payback of 2.8 years.

Leverage to Gold Price: At spot gold prices ($4,400/oz), the after-tax NPV5% increases to $836.8 million, yielding an IRR of 58.6% and an initial payback of just 2.4 years.

High Capital Efficiency & Infrastructure Advantage: Initial capital is estimated at a highly manageable $202 million (including a 25% contingency), representing an attractive 2.6x base case NPV5% to initial capital ratio. This relatively low capital hurdle is directly supported by the Project's ideal location, situated adjacent to existing power lines, paved highways, and an available skilled workforce.

Balance Sheet Backing: The Company's strong balance sheet comprising approximately $183 million1 in cash and publicly traded securities positions it well to advance the Project through the next stages of development.

Cash Generator for the Company: The PEA envisages a robust internal free cash flow, supported by a stable gold production profile averaging an estimated 51,250 oz annually over a 10.6-year life of mine ("LOM"), with peak gold production of 57,200 oz per year in years 2 through 4.

Resilient Cost Profile: The PEA highlights relatively strong estimated margins, supported by an estimated life of mine All-In Sustaining Cost ("AISC") of $1,464/oz.

Conventional Operation: The PEA contemplates a conventional open-pit truck-and-shovel operation and a processing rate of 5,500 tonnes per day. A proven processing flowsheet utilizing standard gravity and leach circuits achieves high metallurgical recoveries of 90% Au.

Advancing Pre-Feasibility Studies: The Company plans to expeditiously commence pre-feasibility studies as the Project is further de-risked and moves forward with permitting towards a construction decision.