VANCOUVER, May 14, 2018 /CNW/ - GoldMining Inc. (the "Company" or "GoldMining") (TSX-V: GOLD; OTCQX: GLDLF) is pleased to announce that, further to its news release dated April 26, 2018, the Company has completed its indirect acquisition of the Narrow Lake property (the "Property"). The Property includes the N1 and N2 claims, which cover a total area of 618 hectares and are contiguous with the southern boundary of the Company's Nicholas Lake-Ormsby property, one of the four properties that comprise the Yellowknife Gold Project ("YGP"), which the Company acquired in July 2017. With the acquisition of the Property, the YGP now has an expanded total area of 12,120 hectares.
Pursuant to the Agreement, GoldMining paid $50,000 in cash and issued 33,333 common shares of the Company to the vendor (the "Vendor") in consideration for the Property. An additional $100,000, payable in cash or common shares of the Company, at the Company's discretion, will be due on the first anniversary of the closing date.
GoldMining granted the Vendor a 1% net smelter royalty with respect to the N1 and N2 claims upon commercial production.
About GoldMining Inc.
GoldMining Inc. is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas. Through its disciplined acquisition strategy, GoldMining now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, U.S.A., Brazil, Colombia and Peru. Additionally, GoldMining owns a 75% interest in the Rea Uranium Project, located in the Western Athabasca Basin of Alberta, Canada.
Neither the TSX Venture Exchange nor their Regulation Services Providers (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
