GoldMining Commences 2026 Exploration Drilling Program at its Yarumalito Gold-Copper Project, Colombia

Rhea-AI Summary

GoldMining (NYSE American: GLDG) has started a fully funded, exploration-focused core drilling program at its 100%-owned Yarumalito gold-copper project in Colombia's Mid Cauca belt.

The diamond drill will complete about 1,200 metres, targeting the mineralized P-1 porphyry and building on historical intercepts up to 257 m at 0.50 g/t Au and 0.1% Cu from surface.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Positive

• Fully funded 2026 diamond core drilling program of approximately 1,200 metres
• Focus on mineralized P-1 porphyry unit, principal host of Au-Cu at Yarumalito
• Program follows comprehensive relogging and a new, enhanced geological model
• Historical intercepts up to 257 m at 0.50 g/t Au and 0.1% Cu from surface
• Yarumalito located in Colombia’s Mid Cauca belt near established gold-copper deposits

Negative

• None.

News Market Reaction – GLDG

+1.83%

2 alerts

+1.83% News Effect

-8.2% Trough Tracked

+$4M Valuation Impact

$248.05M Market Cap

0.5x Rel. Volume

On the day this news was published, GLDG gained 1.83%, reflecting a mild positive market reaction. Argus tracked a trough of -8.2% from its starting point during tracking. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $4M to the company's valuation, bringing the market cap to $248.05M at that time.

Data tracked by StockTitan Argus on the day of publication.

What This Means

This announcement details a fully funded 1,200-metre core drilling program at Yarumalito, targeting ...

Analysis

This announcement details a fully funded 1,200-metre core drilling program at Yarumalito, targeting the mineralized P-1 porphyry and following up on long historical intercepts such as 257 m @ 0.50 g/t Au. It extends GoldMining’s 2026 exploration push alongside prior programs in Brazil and PEAs in Colombia and Alaska. Investors may track drill results, any expansion of mineralized zones, and how this complements the company’s existing economic studies and development planning across its portfolio.

Key Figures

Drill program length: 1,200 metres Historical intercept YAR-06: 257 m @ 0.50 g/t Au, 0.1% Cu Historical intercept YAR-08: 250 m @ 0.51 g/t Au, 0.13% Cu +1 more

4 metrics

Drill program length 1,200 metres 2026 exploration-focused core drilling at Yarumalito

Historical intercept YAR-06 257 m @ 0.50 g/t Au, 0.1% Cu From surface at Yarumalito P-1 porphyry

Historical intercept YAR-08 250 m @ 0.51 g/t Au, 0.13% Cu From surface at Yarumalito P-1 porphyry

Historical intercept YAR-11 141.4 m @ 0.77 g/t Au, 0.09% Cu From surface at Yarumalito P-1 porphyry

Historical Context

5 past events · Latest: May 14 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 14	Annual meeting results	Positive	-6.8%	Shareholders re-elected six directors and confirmed auditors with strong support.
Apr 28	Updated PEA release	Positive	-1.7%	La Mina PEA outlined $1.0B after-tax NPV5% and 32.2% IRR in Colombia.
Mar 30	Exploration program start	Positive	-0.9%	Company launched a fully funded, 8,000-metre drill program at São Jorge in Brazil.
Mar 05	Executive appointment	Positive	-3.7%	Appointed Imola Götz as VP, Project Development, adding 30+ years of mine experience.
Mar 02	Subsidiary PEA milestone	Positive	+0.6%	Highlighted positive initial PEA at majority-owned U.S. GoldMining’s Whistler project.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent positive corporate and project updates have often coincided with flat-to-negative next-day price moves, showing a tendency for the stock to underreact or sell off on good news.

Recent Company History

Over the past six months, GoldMining has reported governance milestones, multiple economic studies and new exploration programs. Notably, an updated La Mina PEA on Apr 28, 2026 with strong $1.0B NPV and 32.2% IRR, and a fully funded 8,000-metre São Jorge drill program on Mar 30, 2026 both saw modest negative price reactions. Even the May 14, 2026 annual meeting, where all directors were elected with over 91% support, coincided with a -6.78% move. Today’s Yarumalito drilling launch fits this pattern of operational progress against a cautious tape.

Regulatory & Risk Context

Short Interest: 3.01%

Short Interest

3.01% of shares outstanding

as of 2026-05-29 Days to cover: 2.75

Key Terms

diamond core drill, porphyry, grams per tonne, core drilling

4 terms

diamond core drill technical

"Fully Funded Drill Program Underway: The diamond core drill is actively turning on site"

A diamond core drill is a rotating drill with a diamond-impregnated cutting bit used to extract intact cylindrical samples of rock from beneath the surface. For investors, these cores act like a medical biopsy for a potential mine—examining them reveals the rock layers, quantity and concentration of valuable minerals, and geological risks, which directly inform resource estimates, project value and investment decisions.

porphyry technical

"Expanding the Mineralized P-1 Porphyry: Testing new zones of potential bedrock mineralization"

A porphyry is a type of large, underground mineral deposit that contains valuable metals such as copper, gold, or molybdenum, often spread over a wide area. Think of it as a giant underground treasure chest, where the metals are embedded in rock formations. These deposits are important to investors because they can be the source of significant resource extraction projects with the potential for substantial economic returns.

grams per tonne technical

"257 metres ("m") at 0.50 grams per tonne ("g/t") gold ("Au") and 0.1% copper"

Grams per tonne (g/t) is a measure of how many grams of a precious or base metal are contained in one tonne of rock or ore. It tells investors the concentration of the metal: higher g/t means more metal packed into the same amount of material, which can lower production costs and raise the potential value of a mine. Think of it like the amount of sugar in a slice of cake—the more sugar per slice, the sweeter (and more valuable) each slice is.

core drilling technical

"commenced an exploration-focused core drilling program on its 100%-owned Yarumalito"

Core drilling is a technique used in exploration that extracts long, cylindrical samples of rock or soil from beneath the surface so geologists can directly see the layers, minerals and structures present. For investors, core samples act like a detailed biopsy of a potential deposit: they provide the most reliable evidence of what’s underground, helping estimate how much valuable material may be present, the cost of extraction, and the project's economic risk.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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VANCOUVER, BC, May 26, 2026 /PRNewswire/ - GoldMining Inc. (TSX: GOLD) (NYSE American: GLDG) (the "Company" or "GoldMining") is pleased to announce that it has commenced an exploration-focused core drilling program on its 100%-owned Yarumalito Gold-Copper Project ("Yarumalito" or the "Project") in the Mid Cauca gold-copper belt of Antioquia, Colombia.

Highlights:

• Fully Funded Drill Program Underway: The diamond core drill is actively turning on site for an approximate 1,200-metre systematic program.
  
  
• Testing a New and Enhanced Geological Model: Drilling will follow-up on high priority targets previously identified through comprehensive relogging of historical core.
  
  
• Expanding the Mineralized P-1 Porphyry: Testing new zones of potential bedrock mineralization in under-drilled portions of the host 'P-1' porphyry unit, the principal host of gold-copper ("Au-Cu") mineralization at the Project.
  
  
• Building on Historical Drill Intercepts:
  
  
  • 257 metres ("m") at 0.50 grams per tonne ("g/t") gold ("Au") and 0.1% copper ("Cu") from surface (YAR-06)
    
    
  • 250 m at 0.51 g/t Au and 0.13% Cu from surface (YAR-08)
    
    
  • 141.4 m at 0.77 g/t Au and 0.09% Cu from surface (YAR-11)

Alastair Still, President and Chief Executive Officer of GoldMining, commented: "Yarumalito sits in the heart of Colombia's prolific Mid Cauca belt, in close proximity to major discoveries like Collective Mining's Guayabales project and Aris Mining's Marmato mine. With diamond core drilling now underway on our second active exploration drilling program in the Americas for 2026, we are testing a newly refined geological model at Yarumalito. This large, highly accessible gold-copper porphyry system remains open in all directions and the targeted drill program is our first step in seeking to unlock the substantial step-out growth potential of the mineralized P-1 host unit."

About Yarumalito

The 100% owned Yarumalito project is located in the Mid Cauca Au-Cu Belt of central Colombia, approximately 105 kilometers south-southwest of Medellín, Colombia's second most important economic center, and 40 kilometers south of the Company's La Mina project. Neighbouring projects include Aris Mining Corporation's Marmato Gold Mine and Collective Mining Ltd.'s Guayabales Project. 

Gold-copper mineralization is related to porphyry intrusive bodies of potassic altered diorite with disseminated and fracture-controlled pyrite, chalcopyrite and magnetic, which is cross-cut by structurally controlled intermediate sulphidation epithermal veins containing pyrite, galena, sphalerite and chalcopyrite.

An existing mineral resource estimate ("MRE") was previously completed by the Company on the Project based on 50 historical drill holes (drilled between 2005 and 2013) containing approximately 18,000 m of core. The MRE comprises 66.3 million tonnes at 0.58 g/t Au and 0.09% Cu for 1.23 million ounces Au and 129 million pounds Cu of estimated inferred mineral resources. For further information regarding the Project, including the MRE, please see the 'Technical Report Yarumalito Gold-Copper Property, Departments of Antioquia and Caldas, Republic of Colombia', with an effective date of April 1, 2020, a copy of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca.

The approximate 1,200 m planned core drilling program is expected to comprise three drill holes to test the geometry and extents of the porphyry-style of mineralization in the 'P-1' intrusive phase, which is demonstrated from systematic relogging of historical drill core to represent the principal host lithology of the gold and copper mineralization. A fourth drill hole is planned to target epithermal veins mapped from abandoned underground historical mine workings, with the objective to test the geometry, width and grade characteristics of the over-printing epithermal mineralization. The minor underground historic workings are not active and there is no known artisanal mining occurring on the Property.

Qualified Person

Tim Smith, VP, Exploration of GoldMining, has supervised the preparation of, and verified and approved all scientific and technical information herein. Mr. Smith is also a qualified person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

About GoldMining Inc.

GoldMining Inc. is a public mineral exploration company focused on acquiring and developing 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, the U.S.A., Brazil, Colombia, and Peru.

Notice to Readers

Technical disclosure regarding the Project has been prepared by the Company in accordance with NI 43-101. NI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and the scientific and technical information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements.

Forward-looking Statements

Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws ("forward-looking statements"), which involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, statements respecting the Company's proposed exploration program at the Project and its strategy and business plans. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which GoldMining operates. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: the inherent risks involved in the exploration and development of mineral properties, fluctuating metal prices, unanticipated costs and expenses, risks related to government and environmental regulation, social, permitting and licensing matters, and uncertainties relating to the availability and costs of financing needed in the future. These risks, as well as others, including those set forth in GoldMiningꞌs Annual Information Form for the year ended November 30, 2025, and other filings with Canadian securities regulators and the SEC, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that forward-looking statements, or the material factors or assumptions used to develop such forward-looking statements, will prove to be accurate. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities law.

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SOURCE GoldMining Inc.

FAQ

What did GoldMining (NYSE American: GLDG) announce about the Yarumalito project on May 26, 2026?

GoldMining announced it has begun an exploration-focused core drilling program at its 100%-owned Yarumalito gold-copper project. According to GoldMining, the fully funded campaign targets about 1,200 metres of diamond drilling in Colombia’s Mid Cauca gold-copper belt, focusing on new and refined geological targets.

How large is GoldMining’s 2026 exploration drilling program at Yarumalito for GLDG shareholders?

The 2026 Yarumalito program is planned at approximately 1,200 metres of systematic diamond core drilling. According to GoldMining, the drill is already turning on site and will test high-priority targets generated from comprehensive relogging of historical core and an enhanced geological model.

What is the focus of GoldMining’s new drilling on the P-1 porphyry at Yarumalito (GLDG)?

The drilling focuses on expanding mineralization within the P-1 porphyry, the main gold-copper host at Yarumalito. According to GoldMining, the program will test under-drilled zones of potential bedrock mineralization as a first step toward evaluating step-out growth potential in the P-1 unit.

Which historical drill results is GoldMining building on at the Yarumalito gold-copper project?

GoldMining is building on several long gold-copper intercepts drilled from surface at Yarumalito. According to the company, key historical holes include 257 m at 0.50 g/t Au and 0.1% Cu, 250 m at 0.51 g/t Au and 0.13% Cu, and 141.4 m at 0.77 g/t Au.

Where is GoldMining’s Yarumalito project located and why is this important for GLDG investors?

Yarumalito lies in the Mid Cauca gold-copper belt in Antioquia, Colombia, a prolific mining district. According to GoldMining, the project is in proximity to discoveries such as Collective Mining’s Guayabales and Aris Mining’s Marmato, highlighting a well-endowed regional geological setting.

How does the 2026 Yarumalito drilling program support GoldMining’s exploration strategy for GLDG?

The program advances GoldMining’s exploration by testing a newly refined geological model at Yarumalito in 2026. According to the company, this is its second active exploration drilling program in the Americas for 2026 and aims to evaluate step-out growth potential in the mineralized P-1 host unit.