U.S. GoldMining Inc. Announces Positive Preliminary Economic Assessment for Whistler Project, Alaska

Key Highlights from the Technical Report

• Robust Project Economics: The Whistler Gold-Copper Project in Alaska has demonstrated strong financial metrics in its Preliminary Economic Assessment (PEA). Using base prices of \$3,200/oz gold, \$4.50/lb copper, and \$37.50/oz silver, the project estimates an after-tax Net Present Value (NPV) at a 5% discount rate of \$2.0 billion and an Internal Rate of Return (IRR) of 33%. The initial capital payback period is projected at only 2.1 years.
• Significant Upside at Spot Prices: At higher spot prices (\$5,000/oz gold, \$5.85/lb copper, \$70/oz silver), the after-tax NPV 5% rises to approximately \$4.9 billion and the IRR jumps to 62%. The payback period shortens to just 1.2 years, indicating substantial leverage to commodity prices.
• Impressive Production Profile: The mine is expected to produce an average of 345,000 gold equivalent ounces (AuEq) annually for the first three years. Over the initial 14.6-year mine life, average annual production is projected at 246,000 AuEq ounces.
• Critical Mineral Exposure: Approximately 25% of revenues come from copper—a designated critical mineral by the U.S. Department of the Interior. This strategic exposure may increase project attractiveness amid rising demand for critical minerals.
• Attractive Cost Structure: The project requires initial capital expenditures of approximately \$1.3 billion (including a 20% contingency). All-In Sustaining Costs (AISC) are estimated at \$1,046 per gold ounce (by-product basis), positioning Whistler competitively among global gold-copper operations.
• Exploration Upside: The PEA currently covers only one of the three deposits with stated resources on the property. Multiple additional targets near the Whistler deposit have been identified for further exploration, suggesting potential for future resource expansion.

Management Commentary & Strategic Outlook

Tim Smith, CEO of U.S. GoldMining, emphasized the significance of the PEA milestone, stating: “We are extremely pleased with the results, which deliver exceptional value and set a solid foundation for the Whistler Project. We look forward to advancing mining studies and exploring the potential to expand the model by integrating additional resources.” The company is preparing to share its 2026 exploration program details, which will focus on testing several promising porphyry gold-copper targets within the Whistler Orbit.

Technical and Regulatory Details

• The PEA is based on Canadian National Instrument 43-101 and U.S. S-K 1300 standards, ensuring compliance with both Canadian and U.S. regulatory frameworks.
• All financial figures are in U.S. dollars unless otherwise stated. The gold equivalent calculations consider contributions from copper and silver, using specific formulas disclosed in the report.
• The Whistler Project is located 105 miles (170 km) northwest of Anchorage, Alaska, and comprises several gold-copper porphyry deposits and exploration targets within a 53,700-acre (217.5 km²) land package, all on State of Alaska mining claims.
• Only preliminary assessment results are provided; the PEA includes assumptions and estimates, and there is no certainty these will be realized.

Potential Price-Sensitive Information for Shareholders

• Exceptional Project Economics: The high NPV, IRR, and rapid payback periods at both base and spot prices represent material developments that could positively impact share values.
• Resource Expansion Potential: Further exploration may unlock significant additional resources, offering future upside for investors.
• Exposure to Critical Minerals: The copper component provides strategic leverage to government-supported critical minerals initiatives, which may enhance project valuation or attract new investors.
• Timely Upcoming Exploration Program: Details of the 2026 exploration program, expected soon, could further impact investor sentiment and share price.
• Regulatory Compliance: The dual filing under U.S. and Canadian standards ensures transparency and broad investor access, which may increase confidence.
• Risks and Uncertainties: As highlighted in the forward-looking statements, risks include fluctuating commodity prices, permitting challenges, labor disputes, and environmental concerns. Investors should monitor these factors closely.

About U.S. GoldMining Inc. & Ausenco

U.S. GoldMining Inc. is dedicated to advancing the 100% owned Whistler Gold-Copper Project. The company’s management and technical teams are focused on unlocking value through exploration and development. Ausenco, a global engineering and consulting firm, supports the project with expertise in studies, project delivery, asset operations, and maintenance across the minerals and metals sector.

For more information, visit www.usgoldmining.us or contact the company directly at [email protected].

Disclaimer

This article contains forward-looking statements based on current expectations, estimates, and assumptions of U.S. GoldMining Inc. These statements are subject to risks and uncertainties that may cause actual results to differ materially. Investors should review risk factors in the company’s filings with the U.S. Securities and Exchange Commission and Canadian Securities Administrators. This article is for informational purposes only and does not constitute investment advice. Please conduct your own due diligence before making investment decisions.

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