US Gold Corp(NASDAQ:usau)

About

U.S. Gold Corp. is a U.S.-focused gold exploration and development company advancing high potential projects in Wyoming, Nevada, and Idaho. The company is listed on NASDAQ and aims to aggressively advance three world-class projects from 2023 into 2024, focusing on building leadership teams and expanding resources.

Verified company data

Cash position

$11.3M as of 07/31/2025

Shares outstanding

16455121

Fully diluted shares

17.2M

Mineral resource

The CK Gold Project's Feasibility Study is based on an updated mineral resource estimate (effective December 2025). Proven + Probable reserves support the initial mine plan, with substantial Measured & Indicated resources remaining outside the current pit shell for potential expansion (approximately 900,000 AuEq oz not included in the base plan but within the broader resource pit).

Projects

["CK Gold Project, Wyoming: Our CK Gold Project is an advanced stage gold and copper exploration and development project located in southeast Wyoming, 20 miles west of Cheyenne. This project is located entirely on state land, making for an easier permitting process and more affordable annual leases. The CK Gold Project (historically known as the Copper King) sits within the Silver Crown Mining District, established in 1881 and saw high-grade, limited mining in its early years. The first reported modern exploration drilling was conducted by ASARCO in 1938. Subsequent campaigns included comprehensive work by Henrietta Mines Ltd. in 1972 (drilling, IP survey, geologic mapping, geochemical sampling, and metallurgical testing). Later drilling was completed by Saratoga (from 2006), Strathmore (from 2012), and U.S. Gold Corp. (2017, 2018, 2020, and 2021 programs) following the company's acquisition of the project from Energy Fuels in 2014. These efforts have supported progressive technical studies, culminating in the recent Feasibility Study. The CK Gold Project is located in southeast Wyoming, approximately 20 miles west of Cheyenne on the southeastern margin of the Laramie Range. The property comprises about 1,120 acres (2 square miles) of mining lease holdings with the Wyoming Office of State Lands and Investments, and is 100% controlled by U.S. Gold Corp. Additionally, private land is held under a long-term lease from the adjoining ranch land, and the company owns several parcels to the west of the project. In March 2026, U.S. Gold Corp. released the project's S-K 1300 Feasibility Study (prepared by Halyard-Micon International and other consultants). The project is now fully permitted at the state level (Wyoming agencies), with all required permits in hand and a $5 million reclamation bond posted for initial construction. It is shovel-ready, offering near-term open-pit production potential in a mining-friendly jurisdiction with strong local and state support. A construction decision is expected in 2026. The CK Gold Project is a development-stage, large-tonnage gold-copper-silver deposit featuring high-grade mineralization exposed at surface, surrounded by a substantial low-grade halo with significant expansion potential. The deposit consists of oxide, mixed oxide-sulfide, and sulfide rock types, characterized by remarkably even metal distribution in disseminated and vein/stockwork styles. The project is based on extensive drilling (over 160 holes totaling approximately 28,500 meters in earlier estimates) and benefits from simple open-pit mining, conventional comminution and flotation processing, and dry-stack tailings. It offers compelling economics, low development risk, and multiple upside opportunities. Feasibility Study Highlights (March 2026): 11-year initial mine life (open-pit, low strip ratio of 0.89:1, ~20,000 short tons per day). Production: Approximately 931,000 AuEq ounces over the life of mine (average ~85,000 AuEq oz per year LOM; higher grades prioritized early). Includes significant gold, copper, and silver credits. Initial capital: Approximately $394 million (reflecting updated engineering, inflation, and permitting requirements). Robust Economics (base case prices: $3,250/oz gold, $4.50/lb copper, $40/oz silver): After-tax NPV (5%): $632 million. After-tax IRR: 27%. Rapid payback (~2.5 years) with strong early free cash flow. At recent spot prices (e.g., ~$4,500/oz gold, $5.50/lb copper, $70/oz silver): After-tax NPV (5%) of $1.30 billion and IRR of 45%. AISC: Co-product all-in sustaining cost of approximately $1,785/oz AuEq (earlier studies showed lower AISC at conservative prices; highly leveraged to metal prices). Mineral Reserves & Resources: The FS is based on an updated mineral resource estimate (effective December 2025). Proven + Probable reserves support the initial mine plan, with substantial Measured & Indicated resources remaining outside the current pit shell for potential expansion (approximately 900,000 AuEq oz not included in the base plan but within the broader resource pit). Upside Potential: The Feasibility Study represents a solid, standalone base case but is viewed as only the starting point for value creation at CK Gold: Mine expansion: The current pit is intentionally constrained by permitting boundaries to maintain state-only approval. Additional Measured & Indicated material (plus resources below the pit) can be incorporated via future amendments. Resource growth: Mineralization remains open at depth and along strike; inferred resources offer conversion potential through a pending drilling program. Metallurgical improvements: Potential exists to boost gold recoveries toward ~95%, through treatment of the flotation tailings, or a portion thereof. Aggregate revenue: Potential sales of ~40 million tons of mined waste rock as high-quality aggregate or rail ballast, creating an additional long-term revenue stream to meet local market demand. Mine life extension: Opportunities to extend operations well beyond the initial 11 years through expansion incorporating known and potential mineral resources which would defer closure costs. Value engineering, plant optimization, and further drilling are planned to enhance margins and scale without delaying the base development case. Permitting and Development Status: Fully permitted and shovel-ready under Wyoming state jurisdiction (no federal permits required for the current footprint). Strong community and government relations program in place, with an office in Cheyenne and extensive stakeholder engagement. Phased development approach: Construction decision targeted for 2026, with financing, optimization work, and potential early activities (e.g., access road) advancing in parallel. Ideal location with excellent infrastructure, supportive regulatory environment, and low geopolitical risk. U.S. Gold Corp. has assembled an experienced team to advance the CK Gold Project toward production while continuing resource expansion.","Keystone, Nevada: Our Keystone project, is located on the prolific Cortez Gold Trend, one of the world’s most highly prospective mineral trends and has the potential for major upside. Over the past 50 years, the Cortez and Carlin trends in Nevada have produced more than 245 million ounces of gold. The Keystone project is a Carlin-type gold deposit exploration project located on Nevada's Cortez Trend, one of the world's most prolific gold mining trends and home to some of North America's largest mines. The Keystone project is an under-explored, early-Tertiary (34.1+/-0.7 Ma), complex intrusive-centered, large gold-bearing hydrothermal system developed in domed permissive, lower-plate, carbonate host rocks. U.S. Gold Corp. has consolidated this entire prospective gold Cortez Trend district currently with 20 square miles of mineral rights control. This is the first time in history of the district that both the entire district has been consolidated by one company, and is being evaluated by systematic, comprehensive, model-driven exploration. U.S. Gold Corp.'s work to date on the project has illustrated many similarities between Keystone and some of the major mines on both the Cortez and Carlin Trends in Nevada - with evidence of similar stratigraphy, lithologic characteristics, structure, and alteration - factors important to the discovery of significant Carlin-type deposits. Prior to U.S. Gold Corp.'s consolidation of the district, a number of mining companies drilled approximately 240 holes, to an average depth of about 300 feet, at various localities within the Keystone project area. These earlier property positions were fragmented and isolated with multiple owners and district-wide exploration programs were inhibited. The Keystone project's geology and prospectivity has historically been poorly understood and certainly under-appreciated and, during these earlier days, there was little available comparison reference to the magnitudes and importance to the Pipeline, Cortez Hills, Goldrush gold systems and deposits. Most of the prior Keystone drilling consisted of typical 1980's drilling - conventional and RC drilling looking for shallow oxide, gold mineralization. Nevertheless, some of the historical drilling did encounter some good gold grades and local thick intercepts of gold. Since consolidating the district, U.S. Gold Corp. has been highly active in implementing systematic exploration programs which have consisted of gravity surveys, rock, soil, stream sediment and altered cobble surveys, a detailed geological mapping program, and multiple 'scout' drill programs in 2016 and 2017. The exploration results to date have identified large areas of strong, widespread gold and pathfinder geochemistry in the soil and rock samples and that a very large epithermal gold system is present. Most of these very wide-spaced scout drill holes, to date, intersected thick intervals of permissive host rocks at shallow target depths and thick intervals, albeit low levels, of gold and associated, locally strong, pathfinder metals. These drill holes have also confirmed the presence of permissive Devonian Horse Canyon limy siltstone, Wenban limestone Formations, and Roberts Mtn Formation host rocks. These Keystone host rocks are very similar in character and thickness (an approximate composite 3,000 feet) to the Pipeline, Cortez Hills, and Goldrush deposits located just to the north of Keystone. The extent and severity of the alteration and the thickness of permissive rock packages encountered, and presence of large collapse breccia bodies highlight the potential of this district scale characteristic of the mineral system. 2018 drilling comprised of fifteen holes, and was conducted in two phases. All of the holes encountered moderate to thick intervals of anomalous gold with moderate to locally very strong associated pathfinder metals, while many of these also intersected significant gold assay intervals. Drilling at Keystone continues to show all of the right ingredients are present for big, Carlin-type, gold deposits. Seeing strong anomalous gold in the latest drill holes only strengthens that theory. Finding the right structure and feeder zones that would host these styles of big deposits is now the focus of our 2019 program. In 2019, with the approval of the Environmental Assessment from 2018, we were able to design a drill program specific to target assessment with multiple stage drill hole follow-ups. The Keystone 2020 exploration program has been designed and it is anticipated will commence in the summer.","Challis Gold Project, Idaho: Our Challis Gold Project, is located 75 kilometers SW of Salmon, Idaho, within the tertiary challis volcanic field. Highlights: Challis Gold Project is located about 75 kms SW of Salmon, ID and 20 kms SW of Revival Gold’s Beartrack Project, within the Tertiary Challis Volcanic Field. Gold is a low sulfidation, Au-Ag epithermal vein and stockwork deposit localized along intersecting NW – NE trending shear structures in a window of sedimentary rocks exposed through the Challis Volcanics. Historic 43-101 Resource of approximately 313,825 oz Au at a grade of 1.22 g/t Au, low strip ratio (Johnny’s Point). Idaho is ranked 8th by the Fraser Institute; higher than any Canadian jurisdiction. Nearby Idaho mining areas include the Stibnite Au project, Bear Track Au project, Delamar Ag-Au mine, Coeur d’Alene Ag-Zn-Pb mines, Black Pine Au mine and Thompson Creek Mo mine."]

Leadership

George Bee (President and CEO, Senior mining industry executive with extensive experience in advancing gold mining projects globally. Previously held senior positions at Barrick Gold and other mining companies.), Eric Alexander (Chief Financial Officer and Corporate Secretary, Over 30 years of corporate and operational experience, with a strong background in the mining industry.), Kevin Francis (Vice President – Exploration and Technical Services, Experienced in various senior roles within the mining industry, providing technical leadership and consulting services.)

Verified data last updated: 2026-05-15

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