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GoldMining Enhances Value of the Crucero Gold Project, Peru by Reducing Third-Party Royalty

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GoldMining Inc. has reduced the existing third-party royalty on its Crucero gold project in Peru, significantly enhancing the potential value of the property. The company paid US$70,000 to Compañía de Minas Buenaventura S.A.A. to amend and reduce the royalty to a 3% net smelter return (NSR) and has the option to further reduce it to a 1% NSR by making an additional payment of US$200,000 over the next 10 years. The Crucero Project is located in Peru and boasts significant mineral resource estimates, indicating the company's commitment to unlocking value from its portfolio of resource-stage gold and gold-copper projects in the Americas.

GoldMining Inc. ha ridotto i diritti di terzi esistenti sul suo progetto aurifero Crucero in Perù, aumentando significativamente il valore potenziale della proprietà. L'azienda ha pagato 70.000 dollari USA alla Compañía de Minas Buenaventura S.A.A. per modificare e ridurre il royalty a un rendimento netto dallo smelter (NSR) del 3% e ha l'opzione di ridurlo ulteriormente all'1% NSR effettuando un ulteriore pagamento di 200.000 dollari USA nei prossimi 10 anni. Il Progetto Crucero si trova in Perù e vanta stime significative delle risorse minerarie, dimostrando l'impegno della compagnia nell'incrementare il valore del suo portafoglio di progetti auriferi e oro-rame in fase di risorsa nelle Americhe.
GoldMining Inc. ha reducido el royalty de terceros existente en su proyecto de oro Crucero en Perú, mejorando significativamente el valor potencial de la propiedad. La compañía pagó 70,000 dólares a Compañía de Minas Buenaventura S.A.A. para modificar y reducir el royalty a un retorno neto de fundición (NSR) del 3%, y tiene la opción de disminuirlo aún más a un 1% NSR mediante un pago adicional de 200,000 dólares en los próximos 10 años. El Proyecto Crucero está ubicado en Perú y cuenta con estimaciones significativas de recursos minerales, indicando el compromiso de la empresa para aumentar el valor de su cartera de proyectos de oro y cobre-oro en etapa de recurso en América.
골드마이닝 인크.는 페루에 있는 크루세로 금 프로젝트에서 기존의 제삼자 로열티를 감소시켜 재산의 잠재가치를 크게 증진시켰습니다. 이 회사는 로열티를 3% 순제련수익(NSR)으로 줄이고, 향후 10년 동안 추가로 20만 달러를 지불하여 그것을 1% NSR로 더 줄일 수 있는 옵션을 갖기 위하여 7만 달러를 Compañía de Minas Buenaventura S.A.A.에게 지불하였습니다. 크루세로 프로젝트는 페루에 위치하고 있으며, 회사의 아메리카의 자원 단계 금 및 금-구리 프로젝트 포트폴리오의 가치를 개방하는 데의 헌신을 나타내는 상당한 광물 자원 추정치를 자랑합니다.
GoldMining Inc. a réduit la redevance tierce existante sur son projet aurifère de Crucero au Pérou, améliorant ainsi considérablement la valeur potentielle de la propriété. La société a payé 70 000 dollars à Compañía de Minas Buenaventura S.A.A. pour modifier et réduire la redevance à un retour de fonderie net (NSR) de 3% et dispose de l'option de la réduire davantage à 1% NSR en effectuant un paiement supplémentaire de 200 000 dollars au cours des 10 prochaines années. Le projet Crucero est situé au Pérou et présente des estimations significatives de ressources minérales, témoignant de l'engagement de l'entreprise à valoriser son portefeuille de projets d'or et d'or-cuivre au stade de la ressource dans les Amériques.
GoldMining Inc. hat die bestehende Drittanbieter-Royalty für sein Crucero-Goldprojekt in Peru verringert, was den potenziellen Wert der Liegenschaft erheblich steigert. Das Unternehmen zahlte 70.000 US-Dollar an Compañía de Minas Buenaventura S.A.A., um die Royalty auf eine 3%ige Netto-Schmelzerlös (NSR) zu reduzieren und hat die Option, diese innerhalb der nächsten 10 Jahre durch eine zusätzliche Zahlung von 200.000 US-Dollar auf 1% NSR weiter zu senken. Das Crucero-Projekt befindet sich in Peru und verfügt über bedeutende Schätzungen der Mineralressourcen, die das Engagement des Unternehmens zeigen, den Wert seines Portfolios von Gold- und Gold-Kupfer-Projekten in der Ressourcenphase in Amerika zu erhöhen.
Positive
  • GoldMining Inc. has demonstrated proactive efforts to enhance the value of its property by reducing an existing third-party royalty.
  • The company paid US$70,000 to amend and reduce the royalty to a 3% net smelter return (NSR) and has the option to further reduce it to a 1% NSR by making an additional payment of US$200,000 over the next 10 years.
  • The Crucero Project, situated in Peru, has significant mineral resource estimates, including 30.65 million tonnes grading 1.01 g/t gold for 0.99 million ounces indicated and an additional 35.78 million tonnes grading 1.00 g/t gold for 1.15 million ounces inferred.
Negative
  • Potential risks in the future in terms of making the additional payment of US$200,000 to further reduce the royalty to a 1% NSR, depending on the financial position of the company and the gold market conditions over the next 10 years.

VANCOUVER, BC, April 29, 2024 /PRNewswire/ - GoldMining Inc. (the "Company" or "GoldMining") (TSX: GOLD) (NYSE American: GLDG) is pleased to announce that the Company, through a wholly owned subsidiary, has completed a transaction with Compañía de Minas Buenaventura S.A.A. ("Buenaventura") to reduce an existing third-party royalty (the "Royalty") on its 100% owned Crucero gold project ("Crucero" or the "Project"), Peru.

Highlights:

  • The Royalty was granted by a previous operator that acquired the Project in 2008 and was based on a sliding scale that reached a maximum 5% net smelter return ("NSR") for gold prices above USD$800 per ounce.

  • The Company paid US$70,000 to Buenaventura to amend and reduce the Royalty to a 3% NSR.

  • The Company can further reduce the Royalty to a 1% NSR by making an additional payment of US$200,000, at any time over the next 10 years.

Alastair Still, CEO, commented: "With this transaction, we have significantly reduced an overly burdensome royalty and enhanced the potential value of the Crucero property. This helps position us to continue advancing our disciplined strategy of unlocking value from our diversified portfolio of resource-stage gold and gold-copper projects in the Americas."

The Crucero Project is located 150 km northeast of the city of Juliaca in the Department of Puno, in southeastern Peru.  Mineral resource estimates for the Project include 30.65 million tonnes grading 1.01 g/t gold for 0.99 million ounces indicated and an additional 35.78 million tonnes grading 1.00 g/t gold for 1.15 million ounces inferred1. The Project has had significant historical investment and exploration by prior operators, including over 24,000 m of drilling over 79 holes, and numerous targets have been identified for future exploration.

1Readers should refer to the 43-101 Technical Report ("NI 43-101") titled "Technical Report on the Crucero Property, Carabaya Province, Peru", with an effective date of December 20, 2017, which is available on the Company' profile at www.sedarplus.ca.

Qualified Person

Paulo Pereira, P. Geo., President of GoldMining, has supervised the preparation of and approved the scientific and technical information contained herein. Mr. Pereira is a qualified person as defined in NI 43-101.

About GoldMining Inc.

The Company is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas. Through its disciplined acquisition strategy, the Company now controls a diversified portfolio of resource-stage gold and gold-copper projects and strategic investments in Canada, U.S.A., Brazil, Colombia, and Peru. The Company also owns approximately 21.5 million shares of Gold Royalty Corp. (NYSE American: GROY), 9.9 million shares of U.S. GoldMining Inc. (Nasdaq: USGO), and 26.7 million shares of NevGold Corp. (TSXV: NAU). Based on the closing prices of such securities on April 26, 2024, these securities have an aggregate current market value of US$116.4 million. See www.goldmining.com for additional information.

Notice to Readers

Technical disclosure regarding the Whistler 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.

Cautionary Statement on 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 potential future plans and expectations of the Company regarding the Project and its future exploration potential. 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, any inability to commence and complete work as expected, the Company's exploration and development plans may change in the future as a result of further planning or otherwise,  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 the Company's Annual Information Form for the year ended November 30, 2023, 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.

Cision View original content:https://www.prnewswire.com/news-releases/goldmining-enhances-value-of-the-crucero-gold-project-peru-by-reducing-third-party-royalty-302129234.html

SOURCE GoldMining Inc.

FAQ

What steps has GoldMining Inc. taken to enhance the value of the Crucero Gold Project in Peru?

GoldMining Inc. has reduced the existing third-party royalty on its 100% owned Crucero Gold Project in Peru by making a payment of US$70,000 and has the option to further reduce it to a 1% net smelter return (NSR) by making an additional payment of US$200,000 over the next 10 years.

What are the mineral resource estimates for the Crucero Project in Peru?

The Crucero Project has mineral resource estimates of 30.65 million tonnes grading 1.01 g/t gold for 0.99 million ounces indicated and an additional 35.78 million tonnes grading 1.00 g/t gold for 1.15 million ounces inferred.

Who supervised the preparation of the scientific and technical information contained in the press release?

The scientific and technical information contained in the press release was supervised by Paulo Pereira, P. Geo., President of GoldMining, who is a qualified person as defined in NI 43-101.

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