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GoldMining Announces Creation of Gold Royalty Corp., A New Gold-Focused Royalty Company

Highlights:

  • Creation of Gold Royalty Corp. (GRC), a new and wholly owned gold-focused royalty company, to expose existing shareholders to an additional and distinct form of value enhancement;

  • Portfolio to include 14 newly created royalties comprised of 2% NSRs on 2 gold projects, 1% NSRs on 11 gold projects, and a 0.5% NSR on 1 gold project (Table 1);

  • 11 of the 14 NSRs are associated with advance-stage resource and development projects with exposure to the following aggregated resources (Table 2):

  • GRC will retain exposure to future discoveries through its precious metal focused portfolio covering over 1,290 km2 (139,000 Ha) in mining friendly jurisdictions in five countries in the Americas; and

  • Additional opportunities to expand royalty portfolio through buy-backs of existing NSR royalties ranging from 0.5% to 2% from third-party holders on up to 5 of the 14 projects.

VANCOUVER, BC , June 24, 2020 /CNW/ - GoldMining Inc. (the "Company" or "GoldMining") (GOLD.TO) (GLDLF) is pleased to announce today the creation of Gold Royalty Corp. ("GRC"), a newly incorporated wholly owned subsidiary, that will hold 14 newly created net smelter return ("NSR") royalties on its extensive gold-focused asset portfolio in the Americas.

Amir Adnani , Chairman, commented: "Following a decade-long effort since forming the Company to assemble an extensive portfolio of gold projects in mining friendly jurisdictions in North and South America , we believe that the timing is right to create this royalty entity, which imparts an additional, and non-dilutive layer, of value to existing shareholders. Over the long-term, we intend to explore potential value-enhancing transactions for Gold Royalty Corp., including a potential spin-off, initial public offering, sale, merger or other transactions that may increase shareholder value."

Garnet Dawson , CEO, commented: "GoldMining's focus remains on our two-pronged strategy of expanding our property portfolio through accretive transactions of resource stage gold projects and their advancement towards development. We believe Gold Royalty Corp. will be a complementary platform to GoldMining's future acquisition and development plans."

GRC's royalty portfolio is expected to comprise of 0.5% to 2.0% NSR royalties on the Company's interest in 14 existing projects with the opportunity to expand the royalty portfolio through the Company's buy-back rights on existing NSR royalties ranging from 0.5% to 2% held by third-parties on up to 5 of the 14 projects (Table 1).

Table 1: GRC Royalty Portfolio

Project

Country

Area

Ownership

Gold Equivalent Ounces1

Intended GRC Royalty2

Comment


Measured & Indicated

Inferred


Ha


Whistler

USA

17,159

100%

2,797,000

6,731,000


Almaden

USA

1,724

100%

910,000

160,000


Yellowknife

Canada

12,120

100%

1,059,000

739,000


Titiribi

Colombia

3,919

100%

6,220,000

3,440,000


La Mina

Colombia

3,200

100%

1,013,000

427,000


Yarumalito

Colombia

1,453

100%

-

1,502,000


Cachoeira

Brazil

4,742

100%

692,000

538,000


Sao Jorge

Brazil

45,997

100%

715,000

1,035,000


Surubim

Brazil

14,611

100%

-

503,000


Boa Vista

Brazil

12,888

84%

-

336,000


Batistao

Brazil

5,108

100%

-

-


Montes Aureos

Brazil

2,000

51%

-

-


Trinta

Brazil

9,568

51%

-

-


Crucero

Peru

4,600

100%

993,000

1,147,000


1

Further details regarding individual resource estimates, including metal equivalents, are shown in Table 2.

2

Option to purchase existing third-party royalties on individual projects are detailed in their respective technical report.

Qualified Persons

Paulo Pereira , President of GoldMining Inc. has reviewed and approved the technical information contained in this news release. Mr. Pereira holds a Bachelors degree in Geology from Universidade do Amazonas in Brazil , is a Qualified Person as defined in NI 43-101 and is a member of the Association of Professional Geoscientists of Ontario .

About GoldMining Inc.

GoldMining Inc. 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 and royalties in Canada , U.S.A. , Brazil , Colombia and Peru. Additionally, GoldMining owns a 75% interest in the Rea Uranium Project, located in the Western Athabasca Basin of Alberta, Canada .

Table 2: GoldMining's Aggregated Mineral Resource Statement across all its Projects1,2,3.

Deposit

Cut-off4

(g/t)

Tonnage

(Mt)

Grade

Contained Metal

Gold

(g/t)

Silver

(g/t)

Copper

(%)

Gold Eq

(g/t)

Gold

(Moz)

Silver

(Moz)

Copper

(Mlbs)

Gold Eq

(Moz)

Measured Resources

Titiribi5

0.3

51.600

0.49

-

0.17

0.78

0.820

-

195.1

1.290

Yellowknife13

0.5/1.5

1.176

2.10

-

-

2.10

0.080

-

-

0.080

Total







0.900

-

195.1

1.370

Indicated Resources

Titiribi5

0.3

234.200

0.51

-

0.09

0.65

3.820

-

459.3

4.930

Sao Jorge6

0.3

14.420

1.54

-

-

1.54

0.715

-

-

0.715

Cachoeira7

0.35

17.470

1.23

-

-

1.23

0.692

-

-

0.692

Whistler8

0.3

110.280

0.50

1.76

0.14

0.79

1.765

6.130

343.1

2.797

La Mina9

0.25

28.170

0.74

1.77

0.24

1.12

0.667

1.607

150.2

1.013

Crucero12

0.4

30.653

1.00

-

-

1.00

0.993

-

-

0.993

Yellowknife13

0.5/1.5

12.933

2.35

-

-

2.35

0.979

-

-

0.979

Almaden

0.3

43.370

0.65

-

-

0.65

0.910

-

-

0.910

Total







10.540

7.737

952.7

12.969

Measured and Indicated Resources

Total







11.440

7.737

1,147.8

14.339

Inferred Resources

Titiribi5

0.3

207.900

0.49

-

0.02

0.51

3.260

-

77.9

3.440

Sao Jorge6

0.3

28.190

1.14

-

-

1.14

1.035

-

-

1.035

Cachoeira7

0.35

15.667

1.07

-

-

1.07

0.538

-

-

0.538

Whistler8

0.3/0.6

311.260

0.47

2.26

0.11

0.68

4.626

22.617

713.5

6.731

La Mina9

0.25

12.394

0.65

1.75

0.27

1.07

0.260

0.697

73.3

0.427

Boa Vista10

0.5

8.470

1.23

-

-

1.23

0.336

-

-

0.336

Surubim11

0.3

19.440

0.81

-

-

0.81

0.503

-

-

0.503

Crucero12

0.4

35.779

1.00

-

-

1.00

1.147

-

-

1.147

Yellowknife13

0.5/1.5

9.302

2.47

-

-

-

0.739

-

-

0.739

Yarumalito14

0.5

66.271

0.58

-

0.09

0.70

1.230

-

129.3

1.502

Almaden

0.3

9.150

0.56

-

-

0.56

0.160

-

-

0.160

Total







13.840

23.311

993.9

16.558

Table 2 Notes:

  1. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves. The estimate of mineral resources may be materially affected by environmental permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.

  2. The above aggregated resource table is provided for informational purposes only and is not intended to represent the viability of any project on a standalone or aggregated basis. The exploration and development of each project, project geology and the assumptions and other factors underlying each estimate, are not uniform and will vary from project to project. Please refer to the technical report for each respective project, as referenced herein, for detailed information respecting each individual project.

  3. All quantities are rounded to the appropriate number of significant figures; consequently, sums may not add up due to rounding.

  4. Gold cut-off for all projects except for Whistler and Yarumalito, which is gold equivalent cut-off.

  5. Notes for Titiribi:

  6. Notes for Sao Jorge:

  7. Notes for Cachoeira:

  8. Notes for Whistler:

  9. Notes for La Mina:

  10. Notes for Boa Vista:

  11. Notes for Surubim:

  12. Notes for Crucero:

  13. Notes for Yellowknife :

  14. Notes for Yarumalito

  15. Notes for Almaden

The above aggregated resource statement is provided for information purposes only. Investors should refer to the underlying technical reports referenced above for project-specific factors relating to each resource estimate.

Forward-looking Statements

This document contains certain forward-looking statements that reflect the current views and/or expectations of GoldMining with respect to its business and future events, including expectations and future plans respecting each of GoldMining's and GRC, business plans and strategies, including expectations and plans regarding future acquisitions and value-enhancing transactions, and resource estimates. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which GoldMining including GRC, operates. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: the ability of the Company to identify and execute additional transactions, including any potential spin-off, sale or merger, on acceptable terms or at all, the ability of the Company to realize or enhance value through its GRC strategy as envisioned, the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other exploration data, the potential for delays in exploration or development activities, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with expectations, accidents, equipment breakdowns, title and permitting matters, labour disputes or other unanticipated difficulties with or interruptions in operations, fluctuating metal prices, unanticipated costs and expenses, and uncertainties relating to the availability and costs of financing needed in the future. These risks, as well as others, including those set forth in GoldMiningꞌs Annual Information Form for the year ended November 30, 2019 , management's discussion and analysis for the three months ended February 29, 2020 and other filings with Canadian securities regulators, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. GoldMining does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

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View original content:http://www.prnewswire.com/news-releases/goldmining-announces-creation-of-gold-royalty-corp-a-new-gold-focused-royalty-company-301082551.html

SOURCE GoldMining Inc.

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View original content: http://www.newswire.ca/en/releases/archive/June2020/24/c2737.html