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Yellowknife Gold

Overview

The Yellowknife Gold (YGP) project is comprised of several properties (Nicholas Lake, Ormsby, Goodwin Lake, Clan Lake and Big Sky) that cover portions of the Yellowknife Greenstone Belt from 17 to 100 km north of the town of Yellowknife. The Yellowknife Greenstone Belt is reported to have historically produced over 15 million ounces of gold from the Con, Giant and Discovery Mines. The Discovery Mine, located on the Ormsby property, operated from 1950 to 1969 and is reported to have historically produced 1 million ounces of gold with an average grade of 28 g/t gold. The YGP has been the focus of substantial drilling, underground development and historic gold production.

Commodity: Gold

Ownership: 100%

Location: Northwest Territories

Infrastructure: Winter road, water, nearby electrical power at Bluefish Station

Property Size: 19,021 Ha

Deposit Type: Orogenic

Historic Resource*:

Measured and Indicated: 27.12 Mt grading 1.97 g/t gold (1,715,000 oz) at 0.5 g/t gold cut-off for open pit resources and 1.5 g/t gold for underground resources

Inferred: 5.77 Mt grading 2.62 g/t gold (487,000 oz) 0.5 g/t gold cut-off for open pit resources and 1.5 g/t gold for underground resources

*The above resource estimate is historical in nature and will not be treated as a current resource estimate by the Company as a qualified person has not done sufficient work on behalf of the Company to classify the historical estimate as a current mineral resource. While the historical resource estimate should not be relied upon, the Company believes the historical estimate provides an indication of the potential of the property and is relevant to any future exploration. The historical resource estimate for the YGP is based on a technical report completed for Tyhee by Bret Swanson, B.Eng. MAusIMM, MMSAQP, Jeff Volk, CPG, GAusIMM, M.Sc., Eric J Olin, M.Sc., MBA, RM-SME, and John Tinucci, Ph.D., P.E. titled "NI 43-101 Technical Report, Yellowknife Gold Project, Northwest Territories, Canada" with an effective date of September 7, 2012. Such technical report includes a feasibility study on the YGP, which was based on historic economic and other factors, which GoldMining is not treating as current, and should not be relied upon.

Drilling: 1,061 holes (231,609 m)

Technical Report: Technical report including a resource estimate is currently being prepared by an independent qualified person  

Images: Yellowknife Gold Images

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