GoldMining Inc. (NYSE American: GLDG) has filed a technical report containing a preliminary economic assessment (PEA) for its São Jorge gold project in Pará State, Brazil, according to a company statement.

The report, titled "NI 43-101 Technical Report and Preliminary Economic Assessment for the São Jorge Gold Project," carries an effective date of June 9, 2026, and is available through regulatory filings on SEDAR+ and the SEC's website.

The PEA models an after-tax net present value at a 5% discount rate of $532 million and an after-tax internal rate of return of 42.4%, using a base case gold price of $3,500 per ounce. At $4,400 per ounce, the modeled after-tax NPV rises to $836.8 million, with an IRR of 58.6% and an initial payback period of 2.4 years.

Initial capital is estimated at $202 million, including a 25% contingency. The PEA contemplates an open-pit operation processing 5,500 tonnes per day, with average annual gold production of 51,250 ounces over a 10.6-year mine life. Peak production of 57,200 ounces per year is projected for years two through four. The estimated all-in sustaining cost is $1,464 per ounce, with metallurgical gold recovery of 90%.

The company said it is working to commence pre-feasibility studies while advancing permitting at the project.

GoldMining CEO Alastair Still stated, "Filing the São Jorge Technical Report marks the next step in the advancement of our portfolio," adding that the company intends to drill nearby exploration targets within its regional property.

The company noted that the PEA is preliminary in nature and includes inferred mineral resources considered too speculative to be categorized as mineral reserves. There is no certainty that the results outlined in the PEA will be realized.