- U.S. GoldMining Inc. reported an **operating loss of $2.5 million** and a **net loss of $2.5 million** for the three months ended August 31, 2025, an improvement from an operating loss of **$5.1 million** and a net loss of **$5.0 million** in the prior year period.  **[1947244_0001437749-25-030869_ex_869070.htm:11]**  For the nine months ended August 31, 2025, the company recorded an **operating loss of $5.7 million** and a **net loss of $5.6 million**.  **[1947244_0001437749-25-030869_ex_869070.htm:14]** 
- As of August 31, 2025, U.S. GoldMining Inc. held **cash and cash equivalents of $3,575 thousand** and **restricted cash of $59 thousand**, with **total assets of $5,956 thousand** and **total liabilities of $1,089 thousand**.  **[1947244_0001437749-25-030869_ex_869070.htm:11]** 
- The cash and other assets held by U.S. GoldMining Inc. are **solely for its own operations** and are not available for use by GoldMining Inc. or its other subsidiaries.  **[1947244_0001437749-25-030869_ex_869070.htm:17]** **[1947244_0001437749-25-030869_ex_869069.htm:20]**

U.S. GoldMining Inc. Reports Q3 2025 Operating Results

- U.S. GoldMining Inc. hosted **Congressman Nick Begich** at its **Whistler Gold-Copper Project** in Alaska on **September 21, 2025**, highlighting national-level interest in responsible resource development opportunities.  **[1947244_0001493152-25-015880_ex99-1.htm:0]** **[1947244_0001493152-25-015880_form8-k.htm:1]** 
- The company is actively advancing its **initial economic assessment study (PEA)** for the Whistler Project, aiming to define a potential economic base-case mining opportunity.  **[1947244_0001493152-25-015880_ex99-1.htm:0]** 
- Recently released metallurgical test work, a key component of the PEA, demonstrated **gold recoveries of 85.3%**, representing a **22% improvement** over prior results.  **[1947244_0001493152-25-015880_ex99-1.htm:0]** 
- The Whistler Project has a Mineral Resource Estimate of **6.48 Moz AuEq Indicated** and **4.16 Moz AuEq Inferred**.  **[1947244_0001493152-25-015880_ex99-1.htm:1]**

U.S. GoldMining Inc. Hosts Congressman Nick Begich at Whistler Gold-Copper Project

- U.S. GoldMining Inc. hosted Congressman Nick Begich at its **Whistler Gold-Copper Project** on **September 21, 2025**, following a visit by Senator Lisa Murkowski in August 2025, underscoring **growing political interest** in Alaska's resource opportunities.  **[1947244_20250929TO85130:0]** 
- The company is actively advancing its **Preliminary Economic Assessment (PEA)** for the project and has extended its **2025 exploration program** into early October to maximize scout drilling coverage.  **[1947244_20250929TO85130:0]** 
- Recent metallurgical test work, a key component of the PEA, demonstrated **gold recoveries of 85.3%**, representing a **22% improvement** over prior results.  **[1947244_20250929TO85130:0]**

U.S. GoldMining Hosts Congressman Begich at Whistler Gold-Copper Project

- U.S. GoldMining Inc. announced updated metallurgical test work results for its Whistler Gold-Copper Project, achieving a combined gold recovery of up to **85.3% Au**, **79.1% Cu**, and **55.3% Ag**.  **[1947244_0001493152-25-014390_ex99-1.htm:0]** 
- This represents a **22% improvement** in gold recovery compared to previous test work, which yielded approximately 70% gold recovery from sulphide flotation alone.  **[1947244_0001493152-25-014390_ex99-1.htm:0]** 
- The enhanced recovery is attributed to a new process flowsheet combining conventional flotation with a sequential leach process, providing key inputs for the ongoing preliminary economic assessment (PEA).  **[1947244_0001493152-25-014390_ex99-1.htm:0]**

U.S. GoldMining Inc. announces improved gold recovery rates for Whistler Gold-Copper Project

- U.S. GoldMining Inc. announced updated metallurgical test work results for its Whistler Gold-Copper Project, achieving a combined overall recovery of up to **85.3% gold (Au)**, **79.1% copper (Cu)**, and **55.3% silver (Ag)**.  **[1947244_20250922TO79711:0]** 
- This gold recovery marks a **22% increase** over previous test work, which only included sulphide flotation, by incorporating a sequential leach process.  **[1947244_20250922TO79711:0]** 
- The test work successfully produced a **copper concentrate grading 23.7% Cu**.  **[1947244_20250922TO79711:0]** 
- These results will provide key metallurgical recovery and process flowsheet inputs for the ongoing Preliminary Economic Assessment (PEA) of the project.  **[1947244_20250922TO79711:0]**

U.S. GoldMining (USGO)