Company hires local contractors and engages
small businesses within Cheyenne
and Laramie County; CK Gold
Project is anticipated to create an estimated 2,600
direct and indirect jobs
CHEYENNE, Wyo., May 19, 2022
/PRNewswire/ -- As Economic Development Week continues, U.S.
Gold Corp. ("U.S. Gold," the "Company," "we," "our" or "us")
(NASDAQ: USAU) is reaffirming its commitment to supporting economic
growth in southeast Wyoming
through the hiring of local contractors and engaging businesses
within the area for its advanced stage gold and copper project, CK
Gold Project.
To date, U.S. Gold has invested approximately $3 million in community contractors for its
proposed project, located at the site of the historic Copper King
Mine in Wyoming's Silver Crown
Mining District. Additionally, the Company is on track to complete
its feasibility study, secure the necessary permits, and build the
mine to be fully operational by 2024.
"The vitality of Cheyenne and
Laramie County's economy is
paramount to our growth and sustainability," said Cheyenne Mayor Patrick
Collins. "We are thrilled that many of our hard-working
citizens and local businesses will benefit from this
project."
"The CK Gold Project is expected to create long-term jobs
support local workers and bring together the community of
Cheyenne and surrounding areas,"
said George Bee, President and CEO
of U.S. Gold Corp. "We take economic development seriously in the
communities we work in and are committed to partnering with
Wyoming-based contractors to
complete this important project, and help boost the region's
economic prosperity."
"As we celebrate Economic Development Week, we view the CK Gold
Project as a significant economic driver for Cheyenne and Laramie
County," said Betsey Hale,
CEO of Cheyenne LEADS. "Businesses in our area, workers, and the
people living in our community stand to benefit a great deal from
the development of this project."
A report developed by the University of
Wyoming's Center for Business and Economic Analysis
estimates the CK Gold Project would create an estimated 2,600
direct and indirect jobs throughout the lifespan of the
project.
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.
Forward-Looking Statements
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 statements relating to the timing of completion of our
feasibility study, receipt of necessary permits and ability to
begin operations by 2024. 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: market and
other conditions; the prevailing market conditions for metal prices
and mining industry cost inputs, environmental and regulatory
risks, COVID-19 uncertainties, 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 and implement future exploration programs, the success
or failure of future drilling programs, 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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content:https://www.prnewswire.com/news-releases/us-gold-reaffirms-its-commitment-to-supporting-economic-development-in-southeast-wyoming-with-its-ck-gold-project-301550932.html
SOURCE U.S. Gold Corp.