GoldMining Inc. Grants Australian Mines Limited Option for Significant Stake in Boa Vista Project
Vancouver, BC – July 2, 2025 – GoldMining Inc. (TSX: GOLD, OTCQX: GLDFF) (“GoldMining” or the “Company”) announced today a significant development in its strategic growth, having entered into an option agreement with Australian Mines Limited (“Australian Mines”) for the Boa Vista gold project located in the Tapajós region of Pará State, Brazil. This agreement grants Australian Mines the opportunity to acquire up to an 80% interest in the project, with a total potential consideration of up to $7 million.
The Boa Vista project represents a promising gold exploration asset within GoldMining’s extensive portfolio. The option agreement, which has been formally executed, outlines a structured pathway for Australian Mines to increase its ownership over time through defined exploration and development milestones. This strategic move by GoldMining allows for the advancement of the Boa Vista project by leveraging the expertise and capital of Australian Mines, while retaining a substantial residual interest.
Under the terms of the agreement, Australian Mines will have the option to acquire an initial 50% interest in the Boa Vista project by making a payment of $2 million in cash and issuing $1 million worth of Australian Mines common shares to GoldMining. Following this initial earn-in, Australian Mines will have the option to acquire an additional 30% interest, bringing their total ownership to 80%, by incurring a further $4 million in exploration expenditures on the project.
The collaboration with Australian Mines, a company with a growing presence in the mining sector, is anticipated to accelerate the exploration and potential development of the Boa Vista project. GoldMining’s management views this transaction as a positive step in unlocking the inherent value of its Brazilian assets and fostering shareholder value.
“We are very pleased to have reached this agreement with Australian Mines Limited,” stated Amalia Varga, President and CEO of GoldMining Inc. “The Boa Vista project has shown encouraging potential, and this option agreement provides a clear path for its continued exploration and development. Partnering with a company like Australian Mines, with their proven commitment to resource exploration, will undoubtedly contribute to the successful advancement of this asset.”
The Boa Vista project has been the subject of prior exploration activities, and GoldMining believes that with focused investment and strategic management, it has the potential to become a significant contributor to its overall asset base. This option agreement aligns with GoldMining’s strategy of advancing its projects through strategic partnerships and joint ventures, thereby managing risk and maximizing shareholder returns.
Further details regarding the terms of the option agreement will be made available in GoldMining Inc.’s upcoming regulatory filings. The company remains committed to its exploration and development objectives across its portfolio of gold projects in Brazil, Colombia, and Canada.
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PR Newswire Heavy Industry Manufacturing published ‘GoldMining Options Up to 80% of the Boa Vista Project to Australian Mines Limited for Total Consideration of Up to $7 million’ at 2025-07-02 00:08. Please write a detailed article about this news in a polite tone with relevant information. Please reply in English with the article only.