Currently, the Company has 144,806,560 shares outstanding, no warrants outstanding, cash of approximately $8.7 million and no debt.
Garnet Dawson, CEO of GoldMining, commented: "With the exercise of all outstanding warrants, the Company has further strengthened its balance sheet and is positioned to continue evaluating additional acquisition opportunities in the Americas and advance several of its key projects in 2020. In early 2020, the Company expects to complete a resource estimate and file a technical report on the Yarumalito Project, GoldMining’s latest acquisition in Colombia."
GoldMining’s existing project portfolio includes global measured and indicated resources of 10.5 million ounces gold (13.4 million ounces gold equivalent) and inferred resources of 12.4 million ounces gold (14.9 million ounces gold equivalent). See Table 1 below for further details.
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. Additionally, GoldMining owns a 75% interest in the Rea Uranium Project, located in the Western Athabasca Basin of Alberta, Canada.
The above aggregated resource statement is provided for information purposes only. Investors should refer to the underlying technical reports referenced above for project-specific factors relating to each resource estimate.
Paulo Pereira, President of GoldMining Inc. has reviewed and approved the technical information contained in this news release. Mr. Pereira holds a Bachelor 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.
This document contains certain forward-looking statements that reflect the current views and/or expectations of the Company with respect to its business and future events, including expectations respecting the completion of proposed work and technical reports on its projects, its acquisition strategy and the sufficiency of existing capital to fund its exploration and other plans. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which it operates. 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 potential for delays in exploration or development activities, accidents and equipment breakdowns, title and permitting matters, labour and other legal disputes, fluctuating metal prices, unanticipated costs and expenses 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 the Company’s annual information form for the year ended November 30, 2018 and other filings with Canadian securities regulators, which are available under the Company’s profile at www.sedar.com, 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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