PRINCETON, N.J., June 21, 2016 /PRNewswire/ -- Dataram Corporation
(NASDAQ: DRAM), a leading independent manufacturer of memory
products and provider of performance solutions, today announced
that its pending acquisition target, US Gold Corp. ("USGC"), has
completed its acquisition of certain mining claims related to a
gold development project known as the "Keystone Project."
Keystone is a high potential gold exploration project,
located in one of the world's most highly prospective mineral
trends.
The Keystone property consists of approximately 10 square miles,
over 6,400 acres, of mining claims in a prime Nevada location within the continually
emerging Cortez Gold Trend.
Within this trend, Keystone is located along a strong
north-northwest trending gravity and magnetics linear that includes
the Gold Bar Deposit to the southeast. Keystone is 10 miles
southeast of Barrick Gold's
Pipeline, Cortez Hills, and Goldrush
deposits that combined have more than 50 million ounces in gold
reserves and resources, and produce approximately one million
ounces of gold per year.
The Keystone Project is an underexplored, multimillion ounce
discovery opportunity that has many geological and gold system
similarities to the Cortez District just to the northwest.
Over the past 50 years, the Cortez and Carlin Trends in
Nevada have produced more than 245
million ounces of gold. The Keystone Project initial target
is over 1 million ounces of gold and the project potential is
estimated to be greater than 10 million ounces of gold.
"Keystone is a true district-scale opportunity," says
Nevada exploration geologist,
Dave Mathewson. "In the past
40 years, I have been on and off various portions of the Keystone
property during this time. This is the first time that one
company has controlled the entire Keystone District, and this
control will be conducive to comprehensive, systematic, and
modern-day exploration applications. We are looking forward
to advancing the 2016 exploration program."
"Dataram recently announced that it entered into a definitive
agreement to acquire all of the outstanding shares of US Gold Corp
and its subsidiaries, which will include the Keystone Project,"
says Mr. Dave Moylan, Dataram's
Chairman and Chief Executive Officer. "We are enthusiastic about US
Gold completing the acquisition of the Keystone claims. This
area has some of the largest gold mines and infrastructure in
North America and Keystone is in
the center of this area. Having Dave Mathewson directly
involved in the Keystone Project, with his more than 35 years of
continually demonstrated exploration experience as a
geologist-explorer, brings tremendous credibility to the Keystone
Project. We look forward to working with both the US Gold
team and Dave Mathewson upon
completion of the acquisition."
About Dataram Corporation
Dataram is a leading
independent manufacturer of memory products and provider of
performance solutions that increase the performance and extend the
useful life of servers, workstations, desktops and laptops sold by
leading manufacturers such as Dell, Cisco, Fujitsu, HP, IBM, Lenovo
and Oracle. Dataram's memory products and solutions are sold
worldwide to OEMs, distributors, value-added resellers and end
users. Additionally, Dataram manufactures and markets a line of
Intel Approved memory products for sale to manufacturers and
assemblers of embedded and original equipment. 70 Fortune 100
companies are powered by Dataram. Founded in 1967, the Company is a
US based manufacturer, with presence in the United States, Europe and Asia. For more information about Dataram,
visit www.dataram.com.
Safe Harbor
The information provided in this press
release may include forward-looking statements relating to future
events, such as the development of new products, pricing and
availability of raw materials or the future financial performance
of the Company, the pending acquisition of U.S. Gold Corp, and any
anticipated benefits of the merger, and the success of US Gold with
respect to any of its exploration activities. Actual results
may differ from such projections and are subject to certain risks
including, without limitation, risks arising from: changes in the
price of memory chips, changes in the demand for memory systems,
increased competition in the memory systems industry, order
cancellations, delays in developing and commercializing new
products, risks related to U.S. Gold faced by junior
exploration companies generally engaged in pre-production
activities, 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, including the Risk Factors
with respect to U.S. Gold contained in the Current Report on Form
8-K filed on June 13, 2016, 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 does not assume any
obligations to update any of these forward-looking
statements.
For additional information, please contact:
Robert
Haag
Managing Director
IRTH Communications
866-976-4784
DRAM@irthcommunications.com
Dataram Contact:
Jeffrey Goldenbaum
Director, Marketing
609-799-0071
info@dataram.com
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SOURCE Dataram Corporation