Mr. Alastair Still reports

GOLDMINING COMMENCES ENVIRONMENTAL BASELINE AND PERMITTING WORK IN CONJUNCTION WITH PRE-FEASIBILITY STUDY AT SAO JORGE, BRAZIL

In conjunction with the previously announced prefeasibility study (PFS), Goldmining Inc. has commenced environmental and socioeconomic baseline studies required for the preparation of the environmental impact assessment (EIA) and environmental impact report (RIMA) to support the multistep licensing and permitting process at its 100-per-cent-owned Sao Jorge gold project, located in Para state, Brazil.

Highlights:

• PFS engineering lead: The company has engaged global engineering firm SLR Consulting to lead the multidisciplinary engineering and metallurgical work required for the PFS. SLR will drive these activities from its offices in Belo Horizonte, a major hub for the Brazilian mining industry.
• Environmental and permitting lead: CLAM Environmental has been engaged to execute the environmental and socioeconomic baseline studies required for the preparation of the EIA and the RIMA to support the multistep licensing and permitting process in Brazil.
• Deep local expertise: Both firms have technical familiarity with the Para state mining jurisdiction. SLR authored the project's existing technical report, including its mineral resource estimate, and CLAM has a strong permitting record, including its environmental work on the neighbouring Tocantinzinho project.
• Infill drilling update: Three diamond core drill rigs are currently turning on site, with over 1,000 metres safely drilled to date in the planned 6,000-metre program, which is designed to improve confidence in the current mineral resource estimate and to provide the geotechnical and metallurgical data necessary to inform the conceptual mine plan and process flowsheet for the PFS.

Alastair Still, chief executive officer of Goldmining, commented: "Sao Jorge remains a priority project for Goldmining, and our ramp-up of activities reflect our efforts to advance Sao Jorge through the prefeasibility and permitting stages. With three drills currently turning on site and over 1,000 metres already safely completed, we are making steady progress at Sao Jorge. Advancing a project through prefeasibility and permitting requires technical partners who bring both global rigour and local expertise. By engaging SLR and CLAM, we have retained two reputable firms with substantial experience in Brazil. SLR's familiarity with our deposit and CLAM's permitting experience in Para State position us well as we integrate this new drill data to advance the project."

Advancing the 2026 infill drill program

The company's diamond drilling campaign is actively advancing with three rigs currently executing the planned 6,000-metre program, with over 1,000 metres safely drilled to date. The campaign is designed to reduce drill spacing in areas currently classified as inferred mineral resources, particularly around the margins of the deposit's main mineralized core. This infill strategy targets improved interpreted geological and geostatistical continuity to support an updated MRE.

In addition to resource conversion, the program will yield fresh core samples to facilitate advanced mineralogical sampling and metallurgical testing, as well as essential data for the geotechnical stability analysis of the proposed open pit and major site facilities.

Engagement of SLR Consulting for the prefeasibility study

Goldmining has engaged SLR to lead the multidisciplinary engineering and metallurgical efforts required for the PFS. SLR partners with mining and minerals clients globally as their trusted advisers, having built a global industry reputation for high-quality work and integrity. As a global engineering consultancy with extensive expertise in the mining sector, SLR brings significant experience preparing robust technical reports in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

SLR has vast operational experience in Latin America and is already highly familiar with the Sao Jorge asset as the author of the existing MRE. The firm will lead the PFS workstreams from its offices in Belo Horizonte, ensuring the study benefits from proximity to Brazil's premier mining and mining service sectors.

Engagement of CLAM Environmental for baseline and EIA studies

To oversee the critical environmental and social parameters of the project, the company has engaged CLAM to execute environmental and socioeconomic baseline studies. This work is the foundational step leading to the preparation of the EIA and RIMA, which are required for the multistep licensing process in Brazil.

CLAM provides environmental management, corporate sustainability and integrated ESG consulting services. With nearly 30 years of experience providing technical solutions for integrated social and environmental management, CLAM has an established record of engagement with the Para State Secretariat of Environment, Climate and Sustainability (SEMAS). The firm has extensive experience in Brazil's mining industry, including environmental work on the Tocantinzinho project, located in the same region as Sao Jorge.

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.

On June 11, 2026, the company announced a PEA for Sao Jorge that modelled 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 (net present value), 5 per cent) 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 (oz), 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.

For further information regarding the project, including the PEA referenced in this news release, please refer to 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, which is available under the company's profiles on SEDAR+ and EDGAR.

Qualified person

Imola Gotz, MSc, PEng, FEC, vice-president, project development, of the company, a qualified person as defined in National Instrument 43-101, has supervised the preparation of, verified and approved the scientific and technical information contained in this news release. Ms. Gotz is not independent of the company.

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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