VANCOUVER, Jan. 9, 2018 /CNW/ - GoldMining Inc. (the
"Company" or "GoldMining") (TSX-V: GOLD; OTCQX:
GLDLF) is pleased to announce that it has entered into an agreement
(the "Agreement") with Viking Gold Exploration Inc. to indirectly
acquire the Maguire Lake property (the "Property"). The
Property includes the RG1, RG2 and RG3 claims, which cover a total
area of 1,797.6 hectares and are contiguous with the western
boundary of the Company's Nicholas
Lake-Ormsby property, one of the four properties that
comprise the Yellowknife Gold Project ("YGP"), which the Company
acquired in July 2017. The YGP has
been the subject of substantial drilling, underground development
and historic gold production from the high-grade Discovery
Mine.
Pursuant to the Agreement, GoldMining will issue 60,000 common
shares of the Company in consideration for the Property. The
transaction is subject to customary closing conditions, including,
among other things, receipt of requisite approvals. The parties
currently expect closing to occur by the end of January 2018. Upon completion of the transaction,
the YGP will have an expanded total area of 11,502 hectares.
The Property is located approximately 2 kilometres west of the
historic Discovery Mine. Total historic production from this
high-grade, underground gold mine between 1949 and 1968 was
estimated to have been approximately one million ounces of gold.
Reference to historical production at the Discovery Mine is
for informational purposes only and is not indicative of the
Company's potential future results at the YGP. Mineralization at
the Discovery Mine consists of gold bearing "saddle-reef" type
quartz veins hosted in the fold hinges of isoclinal folded
meta-sedimentary rocks of the Burwash Formation, one of several
units that comprise the Archean age Yellowknife Supergroup.
Future exploration programs would be designed to examine the
potential for this style of mineralization on the YGP, including
the Property.
Qualified Person
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
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 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, 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.
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 the completion of the
acquisition of the Property and its projects. 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
acquisition of the Property will complete as contemplated and that
the conditions under the Agreement will be satisfied.
Investors are cautioned that all forward-looking statements
involve risks and uncertainties, including: that the parties may
not satisfy all of the conditions under the Agreement, 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
its projects, and that GoldMining may not be able to confirm
historical exploration results. 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, nor its Regulation Services
Providers (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
SOURCE GoldMining Inc.