U.S. Gold Corp. Contracts Samuel Engineering Inc. to Complete the Next Phase of Engineering for the CK Gold Project

Rhea-AI Summary

U.S. Gold Corp. (NASDAQ: USAU) has awarded Samuel Engineering Inc. the next phase of engineering for the CK Gold Project in southeast Wyoming. This partnership is expected to support a full feasibility study and project development. Samuel, with 25 years of experience and local offices, will utilize its expertise to enhance the project's efficiency and cost-effectiveness. CEO George Bee expressed optimism about advancing the project amid rising gold and copper prices. The collaboration aims to establish a significant domestic source of gold and copper production benefitting local communities.

Positive

• Awarding engineering phase to Samuel Engineering for CK Gold Project.
• Partnership aims to conduct a full feasibility study.
• Samuel's local expertise expected to improve project efficiency.
• Rising gold and copper prices provide a favorable market context.

Negative

• None.

CHEYENNE, Wyo., March 10, 2022 /PRNewswire/ -- U.S. Gold Corp. ("U.S. Gold," the "Company," "we," "our" or "us") (NASDAQ: USAU) announced that Samuel Engineering Inc. ("Samuel") has been awarded the next phase of engineering for its CK Gold Project in southeast Wyoming. Several engineering firms submitted bids to conduct the next phase of engineering that can lead to a full feasibility study and necessary engineering to support project development. Samuel has been in business for 25-years and is headquartered in Denver, Colorado. Importantly, Samuel has is an office in Rock Springs Wyoming and a presence in Douglas. Samuel has extensive experience covering 14 states in the United States as well as providing services to over 300 customers worldwide. Samuel has extensive experience in the engineering and development of plants and infrastructure with a similar scale and configuration that we have developed for the CK Gold Project.

In commenting on this appointment, George Bee, President and CEO of U.S. Gold Corp. said, "We are delighted to have found Samuel, who has demonstrated a quick grasp of what we hope to accomplish at the CK Gold Project.  With gold and copper prices approaching all-time highs, we are excited to advance the CK Gold Project towards permitting and production as quickly as prudently possible.  Samuel has worked extensively in Wyoming, and they are familiar with the conditions and the resources available within the state. It is important to keep as much of the benefit of the CK Gold Project in-state and design the facilities to be safe, functional, and appropriate for the conditions and environment. An understanding of the local contracting, services and suppliers will serve Samuel in furthering the design of an efficient plant which conserves capital while getting the task accomplished. Samuel has been willing to work with and build upon the work completed by other contractors and consultants including Trihydro of Laramie, Wyoming who continues with the preparation of our permit submission, environmental monitoring and tailing storage facility design. We hope that this relationship with Samuel will lead to us developing the CK Gold Project together, an important new domestic source of gold and copper production with many other spin-off benefits to the state of Wyoming and the local communities".

On behalf of Samuel, the firm's President, Everod Samuel, said, "I am very pleased to have Samuel Engineering apply its talents, experience, and proven know how to the successful execution of such an important project for U.S. Gold right in our 'backyard'. Furthermore, our high performance professionals enthusiastically look forward to collaborating with the many competent and experienced personnel on the U.S. Gold Corp. team to deliver a highly optimized project both in Capex and Opex." 

About Samuel Engineering, Inc.

Samuel Engineering, Inc. (SE) is a full service, multi-discipline, project development and execution company, www.samuelengineering.com

About U.S. Gold Corp.

U.S. Gold Corp. is a publicly traded, U.S. focused gold exploration and development company. U.S. Gold Corp. has a portfolio of exploration properties. The CK Gold Project is located in Southeast Wyoming and has a Preliminary Feasibility Study (PFS) technical report, which was completed by Gustavson Associates, LLC. Keystone and Maggie Creek are exploration properties on the Cortez and Carlin Trends in Nevada. The Challis Gold Project is located in Idaho. For more information about U.S. Gold Corp., please visit www.usgoldcorp.gold.

For additional information, please contact:

U.S. Gold Corp. Investor Relations:
+1 800 557 4550
ir@usgoldcorp.gold
www.usgoldcorp.gold

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SOURCE U.S. Gold Corp.

FAQ

What did U.S. Gold Corp. announce on March 10, 2022?

U.S. Gold Corp. announced the awarding of the next phase of engineering for its CK Gold Project to Samuel Engineering.

What is the significance of Samuel Engineering's involvement with USAU?

Samuel Engineering's involvement is crucial as it provides local expertise for the CK Gold Project, potentially leading to improved project development.

How does the CK Gold Project impact U.S. Gold Corp.'s future?

The CK Gold Project is positioned to become a significant domestic source of gold and copper production, which can benefit U.S. Gold Corp. financially.

What is the stock symbol for U.S. Gold Corp.?

The stock symbol for U.S. Gold Corp. is USAU.