U.S. GoldMining Inc. (NASDAQ: USGO) ("U.S. GoldMining" or the "Company") is pleased to provide an update on its fully funded 2026 exploration program and highlight recent federal policy engagement at its Whistler Gold-Copper Project in Alaska ("Whistler" or the "Project"). 

Highlights:

2026 Exploration Program Progress

The Company's diamond core drilling campaign remains active with two rigs operating at site. Drilling to date has focused on testing high-priority porphyry targets within the broader Whistler Orbit area, where multiple stacked geological, geochemical, and geophysical vectors have delineated high-priority anomalies.

Concurrently, field crews are progressing surface exploration, including detailed mapping, geochemical sampling, and prospecting over regional target areas, including Snow Ridge, Long Lake Hills, Muddy Creek, and Island Mountain, to maintain a deep pipeline of drill-ready targets for future campaigns.

Core logging and sampling facilities are fully operational on site, and initial batches of core samples have been dispatched to the laboratory with initial assay results anticipated in the coming weeks.

Community Engagement & Permitting Pathway

The Company has continued to proactively advance its stakeholder engagement initiatives across the Matanuska-Susitna Borough and neighboring Native communities throughout the West Susitna Mineral District. The Company is dedicated to establishing a clear, responsible pathway toward future permitting by prioritizing workforce safety, early and transparent community consultation, local hiring, and environmental stewardship.

Federal and State Policy Engagement

Management continues to actively engage with key municipal, state and federal stakeholders to elevate the strategic significance of the Whistler Project within the emerging West Susitna Mineral District. 

To date in 2026, Company leadership has participated in extensive meetings at the Alaska State Capitol in Juneau and in Washington, D.C. On August 24, 2026, U.S. GoldMining hosted a congressional site tour at Whistler as part of the Western Caucus Foundation visit to Alaska.

The Western Caucus Foundation is an independent, non-profit organization that conducts educational programs and field tours focused on issues affecting the American West and rural communities, including natural resource development, infrastructure, permitting and economic growth. The Alaska field tour provided an opportunity for Members and congressional staff to see firsthand the scale and potential of the emerging West Susitna Mineral District and the infrastructure needed to support its development. The congressional delegation included:

The delegation and accompanying senior congressional committee staff reviewed the vision for Whistler as a potential multi-decade project integrated into the State of Alaska's proposed West Susitna Access Road corridor (see Figure 2). The visit highlighted strong interest in supporting critical American resource projects situated entirely on State lands.

Technical Information

For further information regarding the Project, please see the technical report summary titled "Whistler Gold-Copper Project, S-K 1300 Technical Report Summary and Initial Assessment with Economic Analysis, Alaska, United States of America" (the "S-K 1300 Report") prepared under subpart 1300 of Regulation S-K under the U.S. Securities Act of 1933 ("S-K 1300") and the Canadian National Instrument 43-101 ("NI 43-101") technical report titled "Whistler Gold-Copper Project, NI 43-101 Technical Report and Preliminary Economic Assessment", each dated effective March 2, 2026. The S-K-1300 Report is available under the Company's profile at www.sec.gov and the NI 43-101 Report is available under its profile at www.sedarplus.ca.

Tim Smith, P.Geo., Chief Executive Officer of the Company, has supervised the preparation of this news release and has reviewed the additional scientific and technical information contained herein. Mr. Smith is a qualified person as defined under NI 43-101 and S-K 1300.

About U.S. GoldMining Inc.

U.S. GoldMining Inc. is an exploration and development company focused on advancing the 100% owned Whistler Gold-Copper Project, located 105 miles (170 kilometers) northwest of Anchorage, Alaska, U.S.A. The Whistler Project consists of several gold-copper porphyry deposits and exploration targets within a large regional land package entirely on State of Alaska mining claims totaling approximately 53,700 acres (217.5 square kilometers).

Visit www.usgoldmining.us for more information.

Forward-Looking Statements

SOURCE U.S. GoldMining Inc.

SOURCE: U.S. GoldMining Inc.

For additional information, please contact: U.S. GoldMining Inc., Alastair Still,
Chair; Tim Smith, Chief Executive Officer, Telephone Toll Free: 1-833-388-9788,
Email: info@usgoldmining.us

COMTEX_491532916/2197/2026-08-27T06:30:00