GoldMining Acquires Existing NSR Royalty on Its Yarumalito Project, Colombia
VANCOUVER, BC, March 14, 2022 /PRNewswire/ - GoldMining Inc. (the "Company" or "GoldMining") (TSX:GOLD) (NYSE:GLDG) is pleased to announce that it has acquired an existing 1% net smelter return ("NSR") royalty on the Company's Yarumalito Project in Colombia from Newrange Gold Corp. ("Newrange"). Pursuant to the agreement, the Company paid Newrange CAD$100,000 in cash and delivered 10,000 common shares of the Company.
Alastair Still, CEO of GoldMining, commented, "Yarumalito was acquired by the Company in 2019 as part of a strategic consolidation of three projects in the Mid Cauca Belt of Colombia that form a district-scale property package in one of the underexplored gold-copper belts in the world. By acquiring this royalty, GoldMining provides additional optionality for future exploration, joint ventures or value-enhancing transactions as we continue our disciplined approach of unlocking value from our portfolio of gold and gold-copper projects located throughout the Americas."
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 in Canada, U.S.A., Brazil, Colombia, and Peru. The Company also owns 20 million shares of Gold Royalty Corp. (NYSE:GROY).
Forward-looking Statements
This document contains certain forward-looking statements that reflect the current views and/or expectations, including regarding its strategic and project plans for 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. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: delays to plans caused by restrictions and other future impacts of COVID-19 or any other inability of the Company to meet expected timelines for planned project activities, including the timing of proposed project studies and programs; the inherent risks involved in the exploration and development of mineral properties, fluctuating metal prices, proposed studies may not confirm GoldMining's expectations for its projects, unanticipated costs and expenses, risks related to government and environmental regulation, social, permitting and licensing matters, 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, 2021, and other filings with Canadian securities regulators and the U.S. Securities and Exchange Commission, 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. The Company 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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SOURCE GoldMining Inc.