U.S. Gold Corp. Provides Access to its Prefeasibility Study Showing Solid Value in Gold and Copper for its CK Gold Project

Rhea-AI Summary

U.S. Gold Corp. (NASDAQ: USAU) has released its prefeasibility study (PFS) for the CK Gold Project, showcasing promising financial metrics with gold prices around $1,800 and copper at $4.25, exceeding the PFS assumptions of $1,625 and $3.25, respectively. This favorable discrepancy indicates strong project economics. The company is poised for further development steps in 2022 after completing its 2021 field season. The PFS and accompanying technical report summary are publicly accessible, providing insight into the project's value proposition.

Positive

• PFS indicates robust project economics with current gold and copper prices significantly higher than assumptions.
• Completion of 2021 field season positions the company for feasibility and permit submissions in 2022.

Negative

• None.

CHEYENNE, Wyo., Dec. 2, 2021 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU) ("U.S. Gold" or the "Company"), a gold exploration and development company, is providing direct access to its prefeasibility study ("PFS") for its CK Gold Project and has published its SK-1300 Technical Report Summary which is available here.

Mr. George Bee, the Company's President, Chief Executive Officer and Chairman, stated "The PFS assumes $1,625 per gold ounce and $3.25 per pound for copper, based on a weighted average of historic prices and consensus forward looking price (see PFS for a full explanation). With gold and copper prices at the time of writing around $1,800 and $4.25, respectively, the project appears to be very attractive with robust project economics. These metals both continue to trade at materially higher prices than the PFS assumes and if these prices continue on recent trends, they would further positively impact the financial basis of this project. Having recently finished our 2021 field season, we are now well placed to continue onto project feasibility, permit submission and the next steps toward project development in 2022."

A webcast replay of U.S. Gold management's "Recent and Upcoming Developments" call on December 1, 2021 is now available here.

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. Copper King, now the CK Gold Project, is located in Southeast Wyoming.  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.

Safe Harbor

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimated," and "intend," among others. Forward-looking statements include all mineral resource and mineral reserve estimates; projected mine life; economic estimates, including NPV and AISC; upside potential associated with the project, including the possible benefit of aggregate sales, future value engineering and plant optimization, results of metallurgical testing and potential resource expansion; timing considerations, including completion of Feasibility Study, submission of the mine permit and permitting approval.  These forward-looking statements are based on U.S. Gold Corp.'s current expectations, and actual results could differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks arising from: the prevailing market conditions for metal prices and mining industry cost inputs; environmental and regulatory risks; the reasonability of the economic assumptions contained in the PFS; changes in interpretations of geological, geostatistical, metallurgical, mining or processing information, including interpretations of the information resulting from exploration, analysis or mining and processing experience; risks faced by junior companies generally engaged in exploration activities; whether U.S. Gold Corp. will be able to raise sufficient capital to develop the CK Gold project; COVID-19 uncertainties, and other factors described in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the Securities and Exchange Commission, which can be reviewed at www.sec.gov. The Company has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, and other risks, contingencies, and uncertainties, most of which are difficult to predict and many of which are beyond the Company's control. The Company undertakes no duty to correct or update any information contained herein.

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 is the significance of U.S. Gold Corp.'s recent prefeasibility study for USAU?

The prefeasibility study indicates strong project economics for the CK Gold Project, with current gold and copper prices significantly higher than PFS assumptions.

When did U.S. Gold Corp. complete its 2021 field season?

U.S. Gold Corp. completed its 2021 field season recently, positioning itself for further project development.

What are the current prices for gold and copper according to U.S. Gold Corp.'s PFS?

According to the PFS, current prices for gold are around $1,800 per ounce and copper at $4.25 per pound.

How does the prefeasibility study impact U.S. Gold Corp.'s future plans?

The study positions U.S. Gold Corp. to advance towards feasibility studies and permit submissions in 2022, enhancing project development prospects.