VANCOUVER, June 13, 2017 /CNW/ - GoldMining Inc.
("GoldMining" or the "Company") (TSX-V: GOLD; OTCQX: GLDLF) is
pleased to announce that, further to its news release dated
May 10, 2017, the Supreme Court of
British Columbia has issued an
order approving the agreement (the "Agreement") between GoldMining,
its wholly-owned subsidiary and the receiver appointed in respect
of Tyhee N.W.T. Corp. under the Bankruptcy and Insolvency
Act, pursuant to which the Company will acquire 100% of the
Yellowknife Gold Project ("YGP" or the "Project") and nearby Big
Sky Property ("Big Sky").
The Company's acquisition of YGP and Big Sky remain subject to
customary closing conditions, including completion of asset
transfers. The Company currently expects the transaction will
complete in late-June 2017.
As previously announced, the total consideration payable by
GoldMining under the transaction consists of 4,000,000 common
shares of the Company, which will be subject to customary escrow
provisions and released over an eight-month period. Please refer to
the Company's news release dated May 10,
2017 for further information regarding the Agreement and the
transaction contemplated thereunder.
About YGP and Big Sky
The YGP has been the subject of substantial drilling,
underground development and historic gold production. Big Sky
represents an earlier stage exploration property package located
south of the YGP and 17 km north of the city of Yellowknife.
The YGP includes a 50-person winterized camp and fuel storage
and is accessible by winter road from Yellowknife or by air to a 1,000 m long gravel
airstrip located on site. The YGP is comprised of five deposits —
Nicholas, Ormsby, Bruce, Goodwin and Clan Lake — located 50 to 90
km north of the city of Yellowknife in the Northwest Territories.
Over 230,000 metres of diamond drilling has been completed to
date at the YGP, including 141 holes (27,590 m) drilled at
the Nicholas Lake deposit, 707 holes (157,570 m) drilled at the
Ormsby and Bruce deposits, 28 holes (5,934 m) drilled at the
Goodwin Lake deposit, and 185 holes (40,515 m) drilled at the Clan
Lake deposit.
Qualified Person
Paulo Pereira, President of
GoldMining 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
National Instrument 43-101 and is a member of the Association of
Professional Geoscientists of Ontario.
About GoldMining Inc.
GoldMining is a public mineral exploration company focused on
the acquisition and development of gold projects in Colombia and other regions of the Americas.
GoldMining is advancing its Titiribi and La Mina Gold-Copper
Projects located in the Department of Antioquia, Colombia, its Cachoeira and São Jorge Gold
Projects located in the State of Pará, northeastern Brazil, its Whistler Gold-Copper Project
located in the State of Alaska,
United States of America, and its
Rea Uranium Project in the western Athabasca Basin in northeast Alberta, Canada.
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 respecting the Project and Big Sky, the closing of the
transaction and any future exploration programs and other work on
the Project and Big Sky. Forward-looking statements are based on
the then-current expectations, beliefs, assumptions, estimates and
forecasts about the business and the markets in which GoldMining
operates, including that the parties will satisfy or waive all
conditions required to complete the transactions under the
Agreement, including receipt of all required regulatory and court
approvals, that GoldMining will confirm historical exploration
results. Investors are cautioned that all forward-looking
statements involve risks and uncertainties, including: 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 GoldMiningꞌs 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,
uncertainties relating to the availability and costs of financing
needed in the future, including to fund any exploration programs on
the Project and Big Sky, that the parties may not satisfy all
conditions required under the Agreement and that GoldMining may not
be able to confirm historical exploration results or complete a
current resource estimate for the Project. These risks, as well as
others, including those set forth in GoldMiningꞌs 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.
Neither the TSX Venture Exchange, the Toronto Stock Exchange
nor their Regulation Services Providers (as that term is defined in
the policies of the TSX Venture Exchange and the Toronto Stock
Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
SOURCE GoldMining Inc.