GoldMining Inc. announced the results of a National Instrument 43-101 ("NI 43-101") mineral resource estimate for its Crucero Gold Project (the "Crucero Project" or the "Project") located in the Department of Puno, southeastern Peru. The estimate includes an indicated resource of 30,653,000 tonnes grading 1.0 g/t gold (1.0 Moz) and an inferred resource of 35,779,000 tonnes grading 1.0 g/t gold (1.1 Moz) at a 0.4 g/t gold cut-off. Highlights includes: The Crucero NI 43-101 resource estimate includes an indicated resource of 1.0 Moz gold (30,653,000 tonnes at an average grade of 1.0 g/t gold) and an inferred resource of 1.1 Moz gold (35,779,000 tonnes at an average grade of 1.0 g/t gold) at a 0.4 g/t gold cut-off (See Tables 1 and 2 for details); and This resource estimate increases GoldMining's global measured and indicated resource to 9.5 Moz gold (12.4 Moz gold equivalent) and inferred resource to 11.7 Moz gold (14.2 Moz gold equivalent) across all of its projects resulting in a 13% increase in the indicated category and an 11% increase in the inferred category. The Crucero Project occurs within the Puno Orogenic Belt, which is host to orogenic gold deposits and associated extensive alluvial deposits in eastern Peru and Bolivia. The Project is road accessible by paved road from Juliaca to the town of Crucero, approximately 150 km to the northeast, with the remaining 50 km to the site by gravel road. High-power electrical lines pass within 8 km of the property. The Project is comprised of three mining and five exploration concessions with an aggregate area of 4,600 hectares. The three mining concessions are held indirectly by a subsidiary of GoldMining through a 30-year assignment from a third party running until 2038 and are subject to certain net smelter return royalties of 1 to 5%, based on monthly gold prices. The A1 deposit, as currently defined by trenching and drilling, strikes northwest and dips vertically to steeply to the northeast. The deposit is approximately 750 m long by 100 m in width and has been traced to a vertical depth of 400 m, but most of the drilling is confined to within 250 m of surface. The deposit is open at depth and along strike to the northwest and southeast. The structurally controlled gold mineralization is associated with sulphide veins hosted within strongly deformed metasedimentary rocks. GoldMining engaged Global Mineral Resource Services to prepare an independent NI 43-101 technical report for the Crucero Project, including an updated pit constrained resource estimate for the A1 deposit. The A1 deposit was modelled on a series of cross-sections and level plans from which a three-dimensional wireframe model was constructed for the mineralized zone at an approximate grade boundary of 0.1 g/t gold. Diamond drill holes (72) totaling approximately 23,000 metres and eleven trenches totaling approximately 3,285 metres were used to define the model (Figs. 1 and 2). High-grade gold values were capped at 17 g/t gold with 19 assays falling above this value. Assay sample lengths were composited at 2.5 metres within the domain. Variography was used to model the grade continuity and to determine the search ellipse orientations and dimensions for interpolation. Ordinary kriging was used to estimate gold into blocks measuring 10 x 10 x 10 metres in dimension. Average bulk density of 2.85 g/cm3 was used to convert block model volumes to tonnages.