GoldMining Inc. announced assay results from the first drill hole of its recently announced drilling program at the Company's 100% owned São Jorge Project in the Tapajós Gold district, Pará State, Brazil. The program consists of approximately 1,000 metres of total proposed diamond core drilling and 3,000 m of power auger drilling. The objectives of the program include, among other things, to complete confirmatory drilling within and near the margins of the existing São Jorge gold deposit, and test a reinterpretation of the structural controls on high-grade mineralization.

Assay results for the first diamond drill hole have been received and are reported in this release. Drill Program Details and Geological Description: São Jorge sits within the active and rapidly developing Tapajós Gold District, which is estimated to have produced over 20 million ounces of gold historically from artisanal mining of surface deposits, according to the Brazil National Mining Agency. The Tapajós is home to Serabi Gold Plc.'s producing high-grade underground Palito Mine and G Mining Ventures Corp.'s brand new Tocantinzinho open pit mine, which recently commenced commissioning of its ore processing facility.

São Jorge is located immediately adjacent to paved Hwy BR-163 and a new 138 kV powerline corridor tied into the district electrical grid recently constructed for Tocantinzinho. Exploration activities at São Jorge are operated from a permanent camp adjacent to the existing Deposit and just 3 kilometres from the highway. The Company commenced drilling at São Jorge in May 2024 (see news release dated May 29, 2024).

Structural analysis of historic mapping and oriented core from drilling by previous operators identified two principal vein/fracture orientations, the intersection of which produces a steeply plunging high-grade 'shoot' geometry. To test this interpretation, three infill (confirmatory) oriented core drill holes are planned within the known Deposit and near its margins. This drilling, including results of the first hole contained in this news release could provide evidence for a better understanding of the controls on high-grade mineralization and optimization of the resource modelling methodology.

SJD-120-24 intersected numerous zones of gold mineralization starting in the saprolite zone near the surface and extending into bedrock. Mineralization comprises fracture-controlled sulphide ± quartz veins, with the sulphides consisting of dominant pyrite with lesser chalcopyrite, along metre-scale northwest-southeast striking shear zones hosted within monzogranite and along a sheared footwall contact between monzogranite and syenogranite, which cumulatively defines the São Jorge high-strain corridor. Pyrite occurs as hairline stringers, disseminated grains and semi-massive pyrite in 3 ?

5 cm thick veins. Better gold grades are related to a higher abundance of sulphide minerals, particularly thicker veins, and/or a higher density of semi-massive to massive pyrite veins.