U.S. GoldMining mobilizes 2026 exploration program at Whistler

U.S. GoldMining (USGO) has commenced activities on its planned exploration program at its Whistler Gold-Copper Project in Alaska. Highlights: Executing Growth Strategy: The 2026 Program will comprise diamond core drilling targeting several high-priority near-deposit potential upside opportunities and new targets within the Whistler – Raintree area. The objective is to develop a pipeline of discoveries that will underpin growth opportunities for the Project. Mobilization Underway: The Company has recently completed pre-mobilization of critical equipment and consumables to the Project. This proactive staging positions the exploration team to commence summer exploration activities and drilling as soon as conditions allow. Building on Strong Economic Foundation: The exploration strategy complements the strong Whistler economics and rapid payback demonstrated in the recently announced Whistler initial economic assessment. See news release dated March 2, 2026, which outlined: After-tax net present value at 5% discount rate of $2B, an internal rate of return of 33%, and initial payback of 2.1 years, at Base Prices. At spot prices, an after-tax NPV5% of approximately $4.9B, an IRR of 62%, and an initial payback of just 1.2 years. Untapped Potential: The 2026 PEA considers only one of three deposits with stated mineral resource estimates on the property, highlighting the district-scale potential the upcoming program aims to unlock. Tim Smith, CEO, commented: “We are excited to return to the field this coming summer to test our highest priority targets for new gold-copper porphyry discoveries in the Whistler Orbit. The strong initial base-case mine plan in the PEA gives us a strong foundation to confidently advance our exploration strategy. We look forward to sharing more details on the 2026 Program as we drive district-scale resource growth and the advancement of Pre-Feasibility level studies over the coming months.”