Note 17 - Segmented Information

12 Months Ended

Nov. 30, 2025

Disclosure of entity's operating segments [text block]

17.

Segmented Information

The Company conducts its business in the acquisition, exploration and development of mineral properties as two operating segments, with U.S. GoldMining being one distinct operating segment, and all other subsidiaries, or "Others" being the second operating segment. The Company operates in five principal geographical areas: Canada (country of domicile), Brazil, United States, Colombia and Peru.

The Company's total non-current assets, total liabilities and operating loss by geographical location are detailed below:

	Total non-current assets
	As at November 30,		As at November 30,
	2025		2024
	($)		($)
Canada		156,661		54,308
Colombia		31,308		31,414
Brazil		12,665		11,936
Peru		7,452		7,470
United States		2,291		2,517
Total		210,377		107,645

	Total operating loss
	For the year ended
	November 30, 2025		November 30, 2024
	($)		($)
Canada		11,880		14,288
United States		8,383		7,506
Brazil		3,997		1,961
Colombia		1,637		1,483
Peru		387		338
Total		26,284		25,576

The Company's total assets, liabilities, operating loss and net loss for its two operating segments, U.S. GoldMining and others are detailed below:

	Total assets				Total liabilities
	As at November 30,		As at November 30,		As at November 30,		As at November 30,
	2025		2024		2025		2024
	($)		($)		($)		($)
U.S. GoldMining⁽¹⁾		12,891		8,707		1,284		1,319
Others⁽²⁾		225,070		112,254		7,078		4,481
Total		237,961		120,961		8,362		5,800

⁽¹⁾Consists of U.S. GoldMining Inc. and its wholly owned subsidiary US GoldMining Canada Inc.

⁽²⁾Others consists of GoldMining Inc. and all of its subsidiaries, excluding U.S. GoldMining Inc. and US GoldMining Canada.

	For the year ended November 30, 2025									For the year ended November 30, 2024
	U.S. GoldMining⁽¹⁾			Others⁽²⁾			Total			U.S. GoldMining⁽¹⁾			Others⁽²⁾			Total
	($)			($)			($)			($)			($)			($)
Operating expenses (income)
Consulting fees		88			461			549			12			404			416
Depreciation		253			93			346			219			112			331
Directors' fees, employee salaries and benefits		603			2,174			2,777			462			1,935			2,397
Exploration expenses		4,143			4,491			8,634			8,009			2,453			10,462
General and administrative		2,885			5,025			7,910			1,989			6,326			8,315
Professional fees		695			2,010			2,705			989			1,026			2,015
Share-based compensation		756			2,210			2,966			269			2,029			2,298
Share of loss on associate		-			346			346			-			1,458			1,458
Share of loss on investment in joint venture		-			51			51			-			70			70
Impairment of exploration and evaluation assets		-			-			-			-			74			74
Recovery on the receipt of mineral property option payments		-			-			-			-			(2,260	)		(2,260	)
		9,423			16,861			26,284			11,949			13,627			25,576
Operating loss		(9,423	)		(16,861	)		(26,284	)		(11,949	)		(13,627	)		(25,576	)

Other items
Interest income		191			123			314			598			112			710
Flow-through recovery		-			101			101			-			-			-
Other expenses		(35	)		(49	)		(84	)		(37	)		(53	)		(90	)
Gain on share sales of investment in associate		-			149			149			-			-			-
Gain on remeasurement of investment in NevGold		-			337			337			-			-			-
Net foreign exchange gain (loss)		(8	)		60			52			(4	)		(287	)		(291	)
Net loss for the year before taxes		(9,275	)		(16,140	)		(25,415	)		(11,392	)		(13,855	)		(25,247	)
Current income tax recovery (expense)		(5	)		244			239			(7	)		(1,925	)		(1,932	)
Deferred income tax recovery (expense)		-			9,844			9,844			-			(168	)		(168	)
Net loss for the year		(9,280	)		(6,052	)		(15,332	)		(11,399	)		(15,948	)		(27,347	)

⁽¹⁾Consists of U.S. GoldMining Inc. and its wholly owned subsidiary US GoldMining Canada Inc.

⁽²⁾Others consists of GoldMining Inc. and all of its subsidiaries, excluding U.S. GoldMining Inc. and US GoldMining Canada.