GoldMining Announces Resource Estimate for the Yellowknife Gold Project, Northwest Territories, Canada

Published: Mon, 03/04/19

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GoldMining Announces Resource Estimate for the Yellowknife Gold Project, Northwest Territories, Canada

Highlights:

Updated mineral resource for the Yellowknife Project includes a measured and indicated resource of 1,059,000 ounces grading 2.33 g/t gold and an inferred resource of 739,000 ounces grading 2.47 g/t gold (Table 1);
This resource estimate increases GoldMining's aggregated measured and indicated resource to 10,530,000 ounces gold (13,429,000 ounces gold equivalent) and aggregated inferred resource to 12,444,000 ounces gold (14,896,000 ounces gold equivalent) resulting in a 13% increase in the measured and indicated categories and an 11% increase in the inferred category across all of its Projects (Table 2);
Extensive historic exploration work completed on the Project including diamond drilling (231,600 m in 1,061 holes), underground development (2,399 m), bulk sampling (10,200 t) and positive metallurgical studies;
Project is accessible by permitted winter road extending 95 km north from Yellowknife with nearby infrastructure including hydro-electric power, air transportation, service providers and skilled workforce; and
Located in the mining-friendly jurisdiction of the Northwest Territories, home to major mines operated by DeBeers, Rio Tinto, and The Washington Companies.

Vancouver, British Columbia - March 4, 2019 - GoldMining Inc. (the "Company" or "GoldMining") (TSX: GOLD; OTCQX: GLDLF) is pleased to announce an updated mineral resource estimate for its 100% owned Yellowknife Gold Project (the "Yellowknife Project" or the "Project"), Northwest Territories, Canada. The mineral resource estimate was prepared by SRK Consulting (U.S.), Inc. ("SRK") and includes a measured and indicated resource of 14,108,000 tonnes grading 2.33 g/t gold (1,059,000 ounces) and an inferred resource of 9,302,000 tonnes grading 2.47 g/t gold (739,000 ounces) using a variable cut-off of 0.5 and 1.5 g/t gold for pit constrained and underground resources, respectively.

This resource estimate updates the previously disclosed historic estimate completed by the previous owner of the Project, and importantly represents an 18% increase in the measured and indicated resource grade versus the historic estimate. Since its acquisition of the Project, GoldMining has identified numerous areas for exploration, as well as additional targets for follow-up within its large land package.

Commenting on today's news release, Garnet Dawson, CEO of GoldMining commented, "The Yellowknife Gold Project is located in the underexplored Yellowknife Greenstone Belt, host to historic gold mines including the Con and Giant Mines located adjacent to the city of Yellowknife and the Discovery Mine, located on GoldMining's property. Since acquiring the Project, the Company has focused on compiling the large historic database, updating the historic resource estimate and applying for new Land Use Permits and Water Licence necessary for future exploration programs. With the updated resource estimate announced today and the necessary government approvals expected in the next few months, the Project is well positioned to advance to the next stage of economic study."

Please click this link for the full release: http://goldmining.com/news/index.php?content_id=299

Amir Adnani | Chairman
GOLDMINING INC

Direct: (604) 630 1000 EXT 401
Fax: (604) 682-3591
Cell: (604) 617-0054
Toll Free: 1-855-630-1001

GOLD: TSX | GLDLF: OTCQX | www.goldmining.com

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