U.S. GoldMining completes exploration program at Alaska project

ANCHORAGE - U.S. GoldMining Inc. (NASDAQ:USGO), whose stock has surged nearly 33% over the past six months according to InvestingPro data, has completed its 2025 exploration program at the wholly-owned Whistler Gold-Copper Project in Alaska, the company announced Monday.

The program focused on developing new drill targets at the Whistler Orbit and Muddy Creek prospect areas. A total of 169 scout auger drill holes were completed in a systematic grid pattern over the Whistler Orbit, an area spanning approximately 7.5 km by 4.5 km surrounding existing gold-copper porphyry deposits. The company maintains a strong financial position with a current ratio of 7.11, indicating substantial liquid assets to fund its exploration activities.

The company reported that multiple occurrences of new porphyry intrusive rock were mapped from top-of-bedrock scout drilling. The exploration also determined that much of the till overburden in the Whistler Orbit is shallower than previously interpreted, potentially indicating targets close to the surface.

At the Muddy Creek area, six mapping and sampling transects were completed across gossanous outcrops, covering a total area of 5 km by 2.5 km. The company collected 106 rock grab samples and 7 silt samples, with assay results pending for both sites.

"We are pleased to have successfully completed our 2025 exploration program at the Whistler Project in line with our objective to develop a pipeline of targets for potential future discoveries," said Tim Smith, Chief Executive Officer of U.S. GoldMining.

The company is also advancing a previously announced initial assessment study for the project, with the goal of defining a potential economic base-case mining opportunity.

The Whistler Project consists of several gold-copper porphyry deposits and exploration targets within a regional land package on State of Alaska Mining claims totaling approximately 53,700 acres. According to the company’s statement, the project’s mineral resource estimate comprises 294 Mt at 0.68 g/t AuEq for 6.48 Moz AuEq Indicated, plus 198 Mt at 0.65 g/t AuEq for 4.16 Moz AuEq Inferred.

This article is based on a press release statement from U.S. GoldMining Inc.

In other recent news, U.S. GoldMining Inc. announced that its parent company, GoldMining Inc., has filed unaudited financial statements for the three and nine months ending August 31, 2025, with the U.S. Securities and Exchange Commission. The financial information, which is unaudited and not prepared according to U.S. generally accepted accounting principles, may be subject to future adjustments. U.S. GoldMining has also increased the maximum number of shares available in its at-the-market offering, as per a prospectus supplement filed with H.C. Wainwright & Co., LLC. Additionally, the company appointed Barry Olson, a mining industry veteran, as a Special Advisor, bringing over 30 years of experience, including his role in developing Mexico’s Peñasquito mine.

In infrastructure developments, the West Susitna Access Project, which aims to connect U.S. GoldMining’s Whistler Gold-Copper Project to Alaska’s existing infrastructure, is progressing with government backing. Meetings between the company’s CEO and Alaska’s Governor and Matanuska-Susitna Borough Mayor have underscored the project’s importance. The Alaska Industrial Development and Export Authority has submitted a permit application for a 78.5-mile access road, which would enhance year-round access to the remote Whistler site. These developments mark significant steps for U.S. GoldMining in expanding its operational and strategic capabilities.

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