Mr. David Garofalo reports

GOLDMINING ANNOUNCES APPOINTMENT OF WARREN GILMAN TO THE BOARD OF DIRECTORS OF GOLD ROYALTY CORP.

Warren Gilman has joined the board of directors of Goldmining Inc.'s subsidiary, Gold Royalty Corp.

David Garofalo, chairman and chief executive officer of Gold Royalty, commented: "With his 30 years of experience as a deal maker and investor in the metals and mining sector, Warren will be an invaluable addition to our team as we advance our newly formed gold royalty business. As the chairman and CEO of CEF Holdings Ltd., a global mining investment company owned 50 per cent by CK Hutchison Holdings Ltd. (the flagship public company of Mr. Li Ka-shing) and 50 per cent by Canadian Imperial Bank of Commerce, Warren was instrumental in making a number of substantial and highly successful investments over the last decade. We are delighted to welcome Warren to Gold Royalty and look forward to working closely with him in achieving our goal to become a leader in the gold sector."

Mr. Gilman commented: "I am pleased to join the board of Gold Royalty and to be working together with David Garofalo, CEO of Gold Royalty, Amir Adnani and the GoldMining team. I have known David and Amir for decades and see tremendous resource sector experience and entrepreneurial capacity in this team. The maiden Gold Royalty Corp. portfolio of 14 royalties will be a substantial platform to build out our long-term plans. I look forward to backing Gold Royalty and this talented team to quickly grow our business into a leader in its field."

Mr. Gilman is the founder, chairman and CEO of publicly listed Queen's Road Capital Investment Ltd., a leading financier to the global resource sector. From 2011 to 2019 Mr. Gilman was the chairman and CEO of CEF Holdings. Prior to joining CEF, Mr. Gilman was the vice-chairman of CIBC World Markets. He was previously managing director and head of Asia Pacific region for CIBC for 10 years, where he was responsible for all of CIBC's activities across Asia. Mr. Gilman is a mining engineer who co-founded CIBC's global mining group. During his 26 years with CIBC he ran the mining teams in Canada, Australia and Asia and worked in its Toronto, Sydney, Perth, Shanghai and Hong Kong offices. He has acted as adviser to the largest mining companies in the world, including BHP, Rio Tinto, Anglo American, Noranda, Falconbridge, Meridian Gold, China Minmetals, Jinchuan and Zijin, and has been responsible for some of the largest equity capital markets financings in Canadian mining history.

Mr. Gilman obtained his BSc in mining engineering at Queen's University and his MBA from the Ivey Business School at Western University. He is chairman of the international advisory board of Western University and a member of the dean's advisory board of Laurentian University.

About Gold Royalty Corp.

Gold Royalty, a private wholly owned subsidiary of Goldmining, is a gold-focused royalty company. Gold Royalty's royalty portfolio is expected to initially comprise of 0.5-per-cent to 2.0-per-cent net smelter return (NSR) royalties on the company's interest in 14 existing projects with the opportunity to expand the royalty portfolio through the company's buyback rights on existing NSR royalties ranging from 0.5 per cent to 2 per cent held by third parties on up to five of the 14 projects.

About Goldmining Inc.

Goldmining is a public mineral exploration company focused on the acquisition and development of 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, United States, Brazil, Colombia and Peru. Additionally, goldmining owns a 75-per-cent interest in the Rea uranium project, located in the Western Athabasca basin of Alberta, Canada.

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