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.