Mr. Alastair Still reports

GOLDMINING FILES PEA TECHNICAL REPORT FOR ITS SAO JORGE PROJECT, BRAZIL

Goldmining Inc. has filed a technical report, which includes the previously announced preliminary economic assessment (the PEA), in respect of its Sao Jorge project, located in Para state, Brazil.

The technical report, titled "NI 43-101 Technical Report and Preliminary Economic Assessment for the Sao Jorge Gold Project, Para State, Brazil" with an effective date of June 9, 2026, is available under the company's respective profiles at SEDAR+ and the Securities and Exchange Commission. All currency amounts herein are in United States dollars unless otherwise indicated.

The PEA is preliminary in nature, and there is no certainty that the reported results will be realized. The PEA includes inferred mineral resources, which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that this PEA, including the conceptual economics set out therein, will be realized.

Sao Jorge PEA highlights

• Strong economics and upside leverage: Modelled an after-tax net present value at a 5-per-cent discount rate (NPV 5 per cent) of $532-million and an after-tax internal rate of return (IRR) of 42.4-per-cent utilizing base case gold price of $3,500 per ounce (oz). At a gold price of $4,400/oz, the modelled after-tax NPV 5 per cent increases to $836.8-million, yielding an IRR of 58.6 per cent and an initial payback of just 2.4 years.
• High capital efficiency and infrastructure advantage: Initial capital is estimated at a highly manageable $202-million (including a 25-per-cent contingency), representing an attractive 2.6 times base case NPV 5 per cent 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 work force.
• Steady production and cash flow: 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.
• Conventional, resilient 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 per cent Au, supporting resilient margins and an estimated LOM all-in sustaining cost (AISC) of $1,464/oz.
• Advancing prefeasibility studies: The company is working to commence prefeasibility studies as the project is further derisked and moves forward with permitting toward a construction decision.

Alastair Still, chief executive officer of Goldmining, commented: "Filing the Sao Jorge technical report marks the next step in the advancement of our portfolio. We are excited by the project's compelling proposition, which pairs a manageable initial capital requirement with steady gold production and a robust base case NPV set out in the PEA. In addition to offering significant exploration potential, the study highlights the asset's potential resilient margins and rapid payback profile. In parallel to advancing and derisking the property as we commence prefeasibility studies, we remain focused on drilling nearby exploration targets within our prospective regional-scale property as we continue to unlock value across our broader multimillion-ounce Americas portfolio"

For further information regarding the project, including the PEA, please refer to the technical report.

Qualified person

Imola Gotz, MSc, PEng, FEC, vice-president, project development, of the company and a qualified person, as such term is defined in National Instrument 43-101, has supervised the preparation of this news release and has reviewed and approved the scientific and technical information contained herein.

About Goldmining Inc.

Goldmining 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 United States, Brazil, Colombia and Peru.

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