VANCOUVER, BC, Nov. 8, 2021 /PRNewswire/ - GoldMining Inc.
(the "Company" or "GoldMining") (TSX: GOLD) (NYSE
American: GLDG) is pleased to announce that BRI Mineração
Ltda. ("BRI"), a wholly-owned subsidiary of the
Company, has completed a transaction to replace the remaining 1.33%
net production royalty on the Company's Cachoeira Project in
Brazil, with a 0.5% net smelter
return royalty ("NSR") including a buy-back right to
repurchase half of the NSR. Pursuant to the agreement with the
royalty counterparty, BRI paid in Brazilian Reais the equivalent of
US$100,000 in cash and delivered
324,723 common shares of the Company to the counterparty in
settlement of a previously announced claim for pre-production
royalties by the counterparty. Under the terms of the buy-back, the
Company has a period of seven years to elect to purchase half of
the NSR (0.25%) upon payment in Brazilian Reais the equivalent of
US$250,000.
Alastair Still, CEO of
GoldMining, commented, "Since acquiring the Cachoeira project in
2012, we have completed various initiatives including engineering
and environmental studies and negotiating more attractive royalty
structures that can support future development. This
transaction enhances the value of our Cachoeira Project by
replacing an existing net production royalty that included an
annual pre-production payment, with an NSR royalty on more
favourable terms including a buy-back provision to acquire half of
the NSR and no pre-production payments. It is yet another
example of how we will 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 American: 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, 2020, 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.