Mr. Alastair Still reports

GOLDMINING APPOINTS PROJECT DIRECTOR TO LEAD NEXT PHASE OF ADVANCEMENT OF THE SAO JORGE GOLD PROJECT, BRAZIL

Goldmining Inc. has appointed Alexandre Soares Pimenta as project director for its 100-per-cent-owned Sao Jorge gold project, located in Para state, Brazil. Mr. Pimenta will lead the advancement of the project, including the commencement of prefeasibility activities and infill diamond drilling designed to support further evaluation and development planning.

Highlights:

• Experienced project leadership: Mr. Pimenta joins the Sao Jorge team with more than 25 years of experience in mining, metallurgy, engineering and large-scale industrial project development, including senior roles at ORE Investments, Gerdau, Mineracao Morro do Ipe, Alcoa World Alumina and Samarco Mineracao.
• Prefeasibility activities commencing: The company is initiating technical and engineering work to advance the project beyond its previously completed preliminary economic assessment (the PEA) and to evaluate the requirements for a potential future development decision.
• Infill drilling program: Goldmining is in the final stages of preparing for an infill diamond core drilling program with multiple drill rigs to improve the definition of the Sao Jorge deposit.

Alastair Still, chief executive officer of Goldmining, commented: "We are very pleased to welcome Alexandre to lead our efforts to advance the Sao Jorge project. His extensive experience delivering major mining projects in Brazil, combined with his expertise in engineering, project execution and capital management, will be invaluable as we progress the project into its next phase. With our proposed infill drilling program in the final stages of planning and preparation and with prefeasibility activities commencing, we are focused on further defining the deposit and advancing the technical work required to evaluate Sao Jorge's development potential."

About Alexandre Pimenta

Mr. Pimenta is a mechanical engineer and mining executive with more than 25 years of experience spanning engineering, feasibility studies, project implementation, construction, commissioning, operations and capital investment management. Throughout his career, he has led multidisciplinary teams and major capital projects in Brazil, with experience across the full project life cycle, from early stage technical studies and investment evaluation through construction and operational ramp-up. Most recently, he served as chief executive officer of Ativa Mineracao and director of engineering at ORE Investments.

Mr. Pimenta holds a bachelor's degree in mechanical engineering from the Federal University of Minas Gerais (UFMG), an MBA in innovation in maintenance from PUC Minas and a postgraduate specialization in business management from Fundacao Dom Cabral.

As project director, Mr. Pimenta will oversee the coordination of technical studies, engineering, project planning and implementation strategy, working with Goldmining's technical team and external consultants to advance Sao Jorge through its next phase of evaluation.

About Sao Jorge

The Sao Jorge gold project is located in the Tapajos gold district in Para state, Brazil, adjacent to regional highway BR-163. It is a granite-hosted, intrusion-related gold mineral system that is similar in style to the Tocantinzinho gold mine, located approximately 80 kilometres to the northwest, which commenced commercial production in 2024 and produced 171,871 ounces of gold in 2025. Operational results at the Tocantinzinho gold mine are not necessarily indicative of mineralization at Sao Jorge.

On June 11, 2026, the company announced a PEA for Sao Jorge that envisaged a conventional open-pit operation and gravity/leach circuit processing 5,500 tonnes per day (tpd) (1.9 million tonnes per annum (Mtpa)) over a 10.6-year mine life. The PEA modelled a base case after-tax net present value at a 5-per-cent discount rate (NPV 5) of $532-million (U.S.) and an after-tax internal rate of return (IRR) of 42.4 per cent, utilizing a base case gold price of $3,500 (U.S.) per ounce, supported by a stable production profile averaging 51,250 oz of gold annually.

The PEA is preliminary in nature and 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 the PEA, including the conceptual economics set out therein, will be realized.

Further information about the PEA referenced in this news release, including information in respect of data verification, key assumptions, parameters, risks and other factors, can be found in the technical report titled "NI 43-101 Technical Report and Preliminary Economic Assessment, Sao Jorge Project, Para State, Brazil," with an effective date of June 9, 2026, which is available under the company's profile on SEDAR+.

Qualified person

Tim Smith, PGeo, vice-president, exploration, of Goldmining, a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has supervised the preparation of, verified, and approved the scientific and technical information contained in this news release.

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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