07:16 AM EDT, 06/09/2025 (MT Newswires) -- GoldMining ( GLDG ) on Monday said it has closed a non-brokered private placement of 373,135 common shares qualifying as "flow-through shares" at $1.34 apiece, yielding $500,000 in proceeds.

The company will use a proceeds from the sale to incur eligible Canadian exploration expenses that will qualify as flow-through mining expenditures in relation to the Yellowknife gold project by Dec. 31, 2026.

GoldMining ( GLDG ) said it has commenced the first exploration at Yellowknife since 2012. The project has high-grade open pit mineral resource deposits that are distinct from the past-producing underground Discovery Mine.

"We are extremely excited to be commencing a new chapter of modern gold exploration in the historically prolific and high-grade Yellowknife greenstone belt," said Alastair Still, CEO of GoldMining ( GLDG ).

The mineral resource estimate for Yellowknife is estimated to total 14.1 million tonnes at an average grade of 2.33 g/t gold containing approximately 1.06 million ounces of gold in measured and indicated categories.

GoldMining's ( GLDG ) share price at last look gained 1.9% to US$0.78 in U.S. pre-market trading on Monday.