U.S. GoldMining Launches Initial Economic Assessment For Whistler Gold-Copper Project In Alaska Under S-K 1300 and NI 43-101

Benzinga·04/15/2025 10:04:53

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The PEA will consider the existing Project mineral resource estimate comprising 294 million tonnes (Mt) at 0.68 grams per tonne (g/t) gold equivalent (AuEq) for 6.48 million ounces (Moz) AuEq in the indicated resource category, and 198 Mt at 0.65 g/t AuEq for an additional 4.16 Moz AuEq in the inferred resource category. See Table 1 for details of this estimate.
The timing of the planned PEA is aligned with strong metal pricing, with gold hitting a series of record high prices over the past year and current spot gold exceeding $3,000/oz, versus the mineral resource estimate gold price of $1,850/oz.
The decision to proceed with the PEA follows successful drilling programs completed in 2023 and 2024, which included the best ever drill intercept of 652.5 meters at 1.00 g/t AuEq (see news release dated September 30, 2024) and discovery and expansion of additional high-grade mineralization within the Whistler Deposit.
The Company has completed an internal gap analysis to ensure a comprehensive dataset will inform the PEA. A Request for Proposal ("RFP") process is currently underway to identify a mine engineering firm that will partner with the Company to complete the study. Further details regarding the successful applicant and expectation around timing for completion of the PEA will be announced at the completion of the RFP process.
Strong policy tailwinds for the Project within a supportive climate of state and federal policies respecting responsible resource extraction in Alaska (see news releases dated January 27, 2025, and March 24, 2025).
Whistler is the closest large undeveloped gold-copper mineral deposit to Anchorage, Alaska's largest city (see Figure 1) and therefore has good proximity to existing highways, port facilities, grid power and a skilled work force, supply chain and services sector.

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