U.S. GOLDMINING UPDATE ON EXPLORATION AND SUSTAINABILITY ACTIVITIES AT THE WHISTLER GOLD-COPPER PROJECT, ALASKA

In This Article:

ANCHORAGE, Alaska, Aug. 28, 2024 /PRNewswire/ - U.S. GoldMining Inc. (NASDAQ: USGO) ("U.S. GoldMining" or the "Company") is pleased to provide a progress update on activities related to exploration, environmental baseline activities and stakeholder engagement across the Whistler Gold-Copper Project (the "Whistler Project" or "Project") for the 2024 field season in Alaska. The Whistler Project comprises four distinct mineral deposits: Whistler, Raintree West Pit, Raintree West Underground and Island Mountain.

Highlights

  • Ongoing confirmatory drilling of the Whistler and Raintree West deposits has produced over 2,500 metres of core so far this year with productivity rates approximately 50% better than the prior year.

  • The technical team is rapidly advancing the geological understanding of the Whistler and Raintree West deposits, leading to new targets to expand the known deposits.

    • Three new drill holes have been completed to date this season, one at Raintree West and two at Whistler.

    • WH23-03 was also successfully extended by an additional 274.35 metres to a depth of 874.5 metres, following up on the previously reported drill intercept which ended in mineralization comprised of 547.15 meters at 1.06 grams per tonne (g/t) AuEq, comprised of 0.77 g/t gold (Au), 0.17% copper (Cu) and 1.55 g/t silver (Ag), from 53.0 meters depth to end of hole at 600.15 meters (see U.S. GoldMining news release dated January 16, 2024, for further information).

    • Assays are pending for the 2024 drilling completed to date.

  • Surface exploration activities have commenced within the Whistler-Raintree area, also referred to as the 'Whistler Orbit', in proximity to the known deposits, which occur within a classic 'porphyry cluster' that has potential for discovery of additional mineralized intrusive centers.

  • Environmental survey work has continued to build upon baseline datasets.

  • The Company's management has conducted significant stakeholder engagement activities, including meeting with local policy makers, community organizations, Native groups and local community members.

  • Recently, the Company hosted the Sustainability Committee of its board of directors at Whistler, which emphasizes the focus on sustainable exploration activities and dedication to earning social license to operate to help place the Project on a clear line of site through to future potential mine permitting.

  • The Company has proudly supported local hiring and procurement initiatives as well as making sponsorship contributions to local community organizations.