That is mold. I have developed lots of moldy film. The last stuff was on rolls that I got from a guy - he'd bulk rolled them then put them in the door of his freezer (in the fridge). Every roll got moldy. Mold eats the emulsion - it likes the gelatin. I had mold that looked like that on tmax 100 that was in a bulk loader someone kept in a fridge. Things can go moldy in a fridge.
It's visible on undeveloped film. Look for areas that are discoloured.
Would I be able to see the mold with the naked eye on undeveloped film? I don't see anything on the bulk rolled film I have unrolled.
And if it is mold, does that mean the film in junked or can it be salvaged?
I routinely keep my film in the freezer, never had an issue, even stuff frozen for a decade, but these 400' bulk rolls were refrigerated. Don't know they storage conditions before it hit me, but came straight from the manufacture. Isn't film supposed to be cold stored?
Mine doesn't look totally like mold, from pics I've seen on the web. Mold on negs will have this halo thing going, a circle within a circle, like the picture you posted. I don't see that with my negative.