GoldMining Files Technical Report for São Jorge Gold Project in Brazil

The technical report, dated June 9, 2026, models strong economic potential for the site. At a base case gold price of $3,500 per ounce, the project demonstrates an after-tax net present value of $532 million and an internal rate of return of 42.4%. Should gold prices reach $4,400 per ounce, the company projects the net present value to rise to $836.8 million, with an initial payback period of 2.4 years.

Infrastructure access remains a core component of the project's viability, as the site sits adjacent to existing power grids and paved highways. Plans call for a processing rate of 5,500 tonnes per day using standard gravity and leach circuits, which are expected to yield metallurgical recoveries of 90%. The company estimates an average annual production of 51,250 ounces of gold over a 10.6-year mine life, with an all-in sustaining cost of $1,464 per ounce.

CEO Alastair Still noted that the filing represents a key step in advancing the company’s broader portfolio. While the current findings remain preliminary and include speculative inferred mineral resources, GoldMining is moving ahead with pre-feasibility work and ongoing exploration drilling at surrounding targets to further de-risk the property before finalizing a construction decision.