CHEYENNE, Wyo., Sept. 14, 2021 /PRNewswire/ -- U.S. Gold
Corp. ("the Company") (NASDAQ: USAU), a gold exploration and
development company, is pleased to announce it has entered into a
land agreement with the surrounding land-owner that provides an
option to lease additional land and grant access necessary to
develop the CK Gold Project.
The CK Gold Project is located in the mining-friendly state of
Wyoming, 20 miles west of
Cheyenne. U.S. Gold Corp. controls
two Wyoming state leases that make
up the CK Gold Project. Prior to this land agreement, the Company
gained access to the project through an annual easement agreement
with the local rancher, who is the primary landowner to the north
and east of the CK Gold Project.
The new agreement allows for an additional access route into the
project off County Road 210, approximately two miles off the paved
Happy Jack Road from the west. This will reduce approximately 2.5
miles of travel on County Road 210 to reach the CK Gold Project
location from the pavement. The new route decreases road wear,
lessens dust and improves safety by decreasing traffic on an
already busy gravel road, which is utilized daily by homeowners and
the public accessing nearby Curt Gowdy State Park.
U.S. Gold Corp.'s President and CEO George Bee stated, "This new land agreement is a
very positive step forward. Our neighboring rancher continues to be
a very supportive partner as we advance the project. We are
extremely grateful for this extended land access and the
cooperation we have had while we conduct studies now covering the
entire proposed footprint of the project. While the project area is
hosted in a historical mining district, ranching and the rearing of
cattle is the enduring mainstay of economic activity in the area.
By advancing the potential to reintroduce mining, we believe the CK
Gold Project will serve to be beneficial for the community, our
local neighbors, the State of
Wyoming and our shareholders. Our goal with the CK Gold
Project is to create valuable jobs, generate revenues, contribute
to the Wyoming school system
through royalty payments, give back to the Cheyenne community, and leave the ground
completely reclaimed for future use."
The agreement between U.S. Gold Corp. and the local ranch
secures an option to lease additional lands and the permanent
right-of-way to support the operation should the project move
forward into development and ultimately production. The agreement
demonstrates U.S. Gold Corp.'s commitment to work with neighbors
and stakeholders to develop a project with broad-reaching benefits.
Beginning in 1876, raising livestock and developing some of the
early mines in the Silver Crown Mining District were the first
activities in the area as the railroad opened the territory. While
mining activities have decreased, the ranching legacy continues,
and U.S. Gold Corp. is working to ensure that ranching can endure
for the long-term while some of the resource wealth left behind
from the early mining can be capitalized upon to benefit the
area.
The mine development is expected to include new water resources
that could eventually be used for irrigation and additional
livestock watering, electrical infrastructure to power wells and
pumps, and new fencing and roads to better access and utilize
ranchlands. Land stewardship and resource development are not
mutually exclusive. U.S. Gold Corp. is developing the CK Gold
Project in a way that will preserve the agricultural legacy and
rural character of the area, providing hundreds of jobs, millions
of dollars in potential tax revenue, millions of dollars in
royalties allocated for education funding, and a potential major
water storage reservoir.
About U.S. Gold Corp.
U.S. Gold Corp. is a publicly traded, U.S. focused gold
exploration company. U.S. Gold Corp. has a portfolio of exploration
properties. Copper King, now the CK Gold Project, is located in
Southeast Wyoming and has a
Preliminary Economic Assessment (PEA) technical report, which was
completed by Mine Development Associates. 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. 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, risks
faced by junior companies generally engaged in exploration
activities, whether U.S. Gold Corp. will be able to raise
sufficient capital to implement future exploration programs,
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 makes no representation or warranty that the
information contained herein is complete and accurate, and we have
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.