U.S. Gold Corp. - USAU STOCK NEWS

U.S. Gold Corp. (NASDAQ: USAU) issued a Shareholder Letter outlining key milestones and plans for 2023. The letter highlights:

• Permit submission for the CK Gold Project to Wyoming's Department of Environmental Quality in September 2022.
• Sale of Maggie Creek to Barrick & Newmont's Nevada Gold Mines in November 2022.
• Upcoming application for mining permit in Q1 2023.
• Exploration at Keystone Project and planning for Challis Gold Project.

The company emphasizes a favorable gold and copper market outlook, with strong support for its assets in 2023.

U.S. Gold Corp. held its Annual Meeting of Stockholders on December 16, 2022, where all proxy proposals received strong support. Approximately 68.5% of common shares were represented, totaling 5,716,393 shares. Key proposals included the election of six directors, ratification of Marcum, LLP as the auditor for the fiscal year ending April 30, 2023, approval of executive compensation, and an amendment to the 2020 Stock Incentive Plan. CEO George Bee expressed gratitude to stockholders for their participation.

U.S. Gold Corp. (NASDAQ: USAU) announced the resignation of Ryan K. Zinke from its Board of Directors, effective December 31, 2022, as he prepares to assume a congressional position. Zinke, who previously represented Montana's at-large district and served as Interior Secretary, has contributed invaluable insights during his tenure. Following the resignation, U.S. Gold will address the resulting board vacancy in accordance with its bylaws. Zinke will divest his interests in the company and will have no ongoing agreements post-resignation.

U.S. Gold Corp. (NASDAQ: USAU) has announced the execution of a transaction regarding the Maggie Creek Property. On November 9, 2022, the Company assigned its interest in an Exploration Earn-In Agreement to Nevada Gold Mines LLC for $2.75 million. Additionally, U.S. Gold will receive a 0.5% Net Smelter Returns royalty if NGM exercises their 100% acquisition option. The deal allows U.S. Gold to refocus on its Keystone property while still retaining a royalty interest in Maggie Creek, which is located in Nevada.

U.S. Gold Corp. (NASDAQ: USAU) is set to engage in three prominent investor conferences this November: Red Cloud Toronto's Fall Mining Showcase (Nov 9-10), 2022 Precious Metals Summit Zurich (Nov 14-15), and Mines and Money London (Nov 29-Dec 1). The management team will discuss the CK Gold Project, highlighting its prefeasibility study showing a pre-tax NPV of $323 million and a cash balance of $6.3 million as of July 31, 2022. These events aim to connect with institutional investors and showcase the company's growth potential.

U.S. Gold Corp. (NASDAQ: USAU) provides a shareholder update highlighting its CK Gold Project in Wyoming. Currently holding $6.3M in cash and no long-term debt, the company has completed critical phases of the project, including a Prefeasibility Study indicating a 39.4% IRR before tax. Their 2021 findings revealed 1.44 million AuEq ounces and a net present value of $323 million. Despite market challenges, the company remains optimistic about future metal price increases and the potential of its exploration projects.

U.S. Gold Corp. has submitted its Permit to Mine Application and Reclamation Plan to the Wyoming Department of Environmental Quality for the CK Gold Project, located 20 miles west of Cheyenne. The submission initiates a formal review process by state authorities. The project has undergone significant engineering, with a Prefeasibility Study indicating 1.44 million AuEq ounces in reserves and a capital investment estimate of $221 million. The company plans to submit an Industrial Siting Permit application in February 2023, with a focus on community impact assessments.

U.S. Gold Corp. (NASDAQ: USAU) has announced its events calendar for September 2022, participating in key investor conferences including the H.C. Wainwright Virtual Global Investment Conference, Precious Metals Summit Beaver Creek, and Denver Gold Group - Gold Forum Americas. The management team will present and meet with institutional investors at these gatherings, focusing on the CK Gold Project in Southeast Wyoming. These events aim to enhance visibility and engage with industry leaders and investors in the precious metals space.

U.S. Gold Corp. (NASDAQ: USAU) will present an update on its CK Gold Project at the 66th Annual Wyoming Mining Association Convention from August 24-26, 2022, in Jackson, Wyoming. CEO George Bee will discuss project advancements and their benefits to local communities. Executive Director Travis Deti will highlight the socioeconomic impacts of the CK Gold Project. The project, located in Southeast Wyoming, is backed by a Preliminary Feasibility Study. U.S. Gold Corp. continues to advance its exploration properties, including those in Nevada and Idaho.