Announcement • Jul 06
U.S. Goldmining Commences 2026 Drilling Program At Whistler Gold-Copper Project U.S. GoldMining Inc. has commenced drilling as part of the previously announced 2026 exploration program at its 100% owned Whistler Gold-Copper Project in Alaska. The Program has safely and successfully ramped up, with the first drill activated ahead of schedule. The Company is actively drilling the high-priority Whistler Orbit targets. As porphyry systems typically occur in clusters, testing these near-deposit anomalies offers higher probability opportunities to discover potential new porphyry centers. The Whistler Orbit represents a classic 'porphyry cluster' spanning a 7.5 km by 4.5 km area. The technical team has systematically delineated over 25 individual exploration targets by stacking multiple lines of evidence, including geological mapping, geophysical surveying and geochemical vectors, to prioritize the highest-ranked targets to drill test in 2026. The start of drilling propels the Company into a catalyst-rich phase, designed to build upon the recent Whistler initial economic assessment. The PEA, which conservatively incorporates only the indicated resources from the Whistler deposit, one of three deposits with stated mineral resource estimates on the property, conceptually modeled an after-tax net present value at a 5% discount rate ("NPV5%") of USD 2.0 billion, a 33% internal rate of return ("IRR") and initial payback of 2.1 years, at base case prices. On-site core logging and cutting facilities are fully operational. The Company anticipates releasing the first batches of assay results by the end of the third quarter, subject to laboratory turnaround times. Geologically, gold-copper porphyries frequently occur in groups or 'clusters'. By targeting the Whistler Orbit right out of the gate, the 2026 Program is fully funded to drill a minimum of 6,000 meters of core to test the highest ranked 8 to 10 targets within the Whistler Orbit. The camp is fully active and the Company will provide the market with updates and assay results as the program advances. All references to dollar amounts are to United States dollars unless otherwise stated. Base-case prices used in the 2026 Whistler PEA are USD 3,200 per ounce gold, USD 4.50 per pound copper, and USD 37.50 per ounce silver, based on long term market consensus prices as of February 2026. Please refer to the technical report titled "Whistler Gold-Copper Project, S-K 1300 Technical Report Summary and Initial Assessment with Economic Analysis, Alaska, United States of America", dated effective March 2, 2026. The results of the PEA contained herein are preliminary in nature and are intended to provide an initial assessment of the Project's economic potential and development options of the Project. Among other things, the PEA, including its mine schedule, cost estimates and economic assessment, includes numerous assumptions and there can be no certainty that this economic assessment may be realized. USGO
Live News • Jul 06
U.S. GoldMining Begins 2026 Whistler Drilling Campaign Targeting New Gold-Copper Zones U.S. GoldMining has started its 2026 drilling program at the 100% owned Whistler Gold-Copper Project in Alaska, planning at least 6,000 meters of drilling across 8 to 10 high-priority targets in the Whistler Orbit porphyry cluster.
The program is focused on testing potential new porphyry centers near existing deposits, following a positive preliminary economic assessment for the Whistler deposit that indicated significant economic potential for the project.
U.S. GoldMining shares trade at $8.84, with the stock down 26.1% over the past 90 days.
This campaign is an important test of how much additional resource potential may exist around Whistler, and drilling outcomes could influence how investors think about the scale and optionality of the project as the story moves beyond the initial PEA. Announcement • Jun 10
U.S. Goldmining Provides Updates on the 2026 Exploration Program At Whistler Gold-Copper Project U.S. GoldMining Inc. has successfully mobilized all critical equipment and consumables to the Project ahead of schedule. Crews are actively constructing drill pads at high priority targets, with the drilling crew expected to mobilize to site to commence drilling in the coming weeks. The Program will feature diamond core drilling focused on high-priority targets within the Whistler – Raintree area. The objective is to develop a pipeline of discoveries that can underpin significant step-out growth opportunities for the Project. The upcoming exploration strategy is designed to build upon the recent Whistler initial assessment (PEA). The PEA, which incorporates only the Indicated Resources from the Whistler deposit, outlines an after-tax net present value at a 5% discount rate (NPV5%) of USD 2.0 billion, a 33% internal rate of return (IRR), and initial payback of 2.1 years, at base case prices. Base-case prices used in the 2026 Whistler PEA are USD 3,200 per ounce gold, USD 4.50 per pound copper, and USD 37.50 per ounce silver, based on long term market consensus prices as of February 2026. The Whistler Project contains three gold ± copper ± silver mineral systems: Whistler–Raintree contains the currently delineated Whistler and Raintree deposits; Island Mountain contains the namesake gold deposit and several additional undrilled targets; and Muddy Creek holds potential for discovery of an intrusive related gold system. The results of the PEA contained herein are preliminary in nature and are intended to provide an initial assessment of the Project's economic potential and development options of the Project. Among other things, the PEA, including its mine schedule, cost estimates and economic assessment, includes numerous assumptions and there can be no certainty that this economic assessment may be realized. 
