U.S. GoldMining Inc. has announced the completion of its 2026 exploration program at the Whistler Gold-Copper Project in Alaska. The Company reported that the program, which began in the summer field season, involved drilling 17 core holes across ten target areas. The total footage drilled reached 7,493 meters, described by the Company as the largest drilling program in its history.
The drilling focused on the Whistler Orbit, a 7.5 km by 4.5 km area containing the existing Whistler and Raintree deposits. The Company aims to delineate new gold-copper mineralized porphyry intrusions and extend known mineral systems. The project covers a 100% owned land package of approximately 53,700 acres.
Regarding the project's economic framework, a preliminary economic assessment (PEA) conducted in March 2026 modeled an after-tax Net Present Value (NPV5%) of $2.04 billion and an Internal Rate of Return (IRR) of 33.0%. The study assumed base-case prices of $3,200 per ounce of gold, $4.50 per pound of copper, and $37.50 per ounce of silver. The Company noted that this economic analysis conservatively incorporates only the indicated mineral resources from the Whistler deposit.
Current mineral resource estimates for the Whistler, Raintree West, and Island Mountain deposits total 5.41 million ounces of gold equivalent (AuEq) in the indicated category and 4.97 million ounces of AuEq in the inferred category. On-site core logging and sampling are currently underway. The Company anticipates receiving initial assay results from regional mapping and prospecting in the coming weeks and through the end of 2026, pending laboratory turnaround times.
