Monetary Policy and Market Reactions - Gold prices have reached a record high, exceeding $3,700 per ounce, with U.S. gold futures for December delivery at $3,760.90, driven by expectations of further interest rate cuts by the U.S. Federal Reserve [3][7] - The Federal Reserve recently executed its first 25-basis-point rate cut since December, with markets anticipating at least two more cuts by year-end [3] - Gold has gained over 40% this year, supported by geopolitical uncertainty and safe-haven demand, alongside a shift in support factors with Western investors joining central banks and Asian demand [3] AI Dominance and Regulatory Scrutiny - Nvidia announced a significant investment of up to $100 billion in OpenAI to expand AI infrastructure, planning to deploy at least 10 gigawatts of computing capacity [5][7] - This investment is viewed as a strategy to reinforce Nvidia's market dominance in AI hardware, potentially generating up to $500 billion in revenue over time [5] - The integration of AI in financial oversight is increasing, with the Bank of England Governor highlighting its potential to enhance regulatory efficiency [6] Geopolitical Developments and Food Security Concerns - Lithuania has urged NATO to utilize Ukraine's drone defense capabilities to establish a "drone wall" along the eastern border, in response to recent Russian drone incursions [8] - The U.S. Department of Agriculture has placed its team responsible for measuring hunger on indefinite paid leave, raising concerns about the future of food insecurity data [9] Global Market Performance - South Korean stocks opened higher, with the KOSPI index rising 0.68%, driven by strong technology and automotive sector performances [10] - Wall Street experienced a slight pullback after reaching new records, with the S&P 500 dipping 0.2%, but the bullish sentiment for technology stocks remains strong following the Fed's rate cut [10]

Core Insights - The company is focused on the development of transcript-related projects, indicating a commitment to enhancing its offerings in this area [1] Group 1 - The company publishes thousands of quarterly earnings calls each quarter, showcasing its extensive coverage and growth in the transcript market [1]

[Forward-Looking Statements](index=4&type=section&id=FORWARD-LOOKING%20STATEMENTS) This section highlights that the report contains forward-looking statements, identified by words like 'anticipate,' 'expect,' and 'believe,' which are subject to risks and uncertainties and may differ materially from actual results [Nature of Forward-Looking Statements](index=4&type=section&id=4.1%20Nature%20of%20Forward-Looking%20Statements) This section defines forward-looking statements, noting their identification by specific terminology and inherent susceptibility to risks that may cause actual results to differ materially - The report contains forward-looking statements regarding cash reserves, going concern ability, option vesting, and legal/accounting expenses[8](index=8&type=chunk) - Forward-looking statements are identified by words such as 'anticipate,' 'continue,' 'likely,' 'estimate,' 'expect,' 'may,' 'could,' 'will,' 'project,' 'should,' and 'believe'[9](index=9&type=chunk) - Actual results may differ materially from expectations due to various factors, many beyond the company's control, and the company is not obligated to publicly release revisions unless required by law[9](index=9&type=chunk)[10](index=10&type=chunk) [Risk Factors](index=4&type=section&id=4.2%20Risk%20Factors) The company's actual results could differ materially from forward-looking statements due to various risks, including deviations from project projections, mining exploration hazards, economic conditions, regulatory changes, and the ability to secure future financing - Key risk factors include deviations from CK Gold Project projections (grade, mining challenges, commodity prices, costs, permitting delays)[11](index=11&type=chunk) - Mining exploration and development risks encompass regulatory approvals, operational hazards, equipment breakdowns, and contractual disputes[11](index=11&type=chunk) - Other risks include global economic strength, competition, interest/inflation rate fluctuations, governmental regulations, geopolitical events, Nasdaq listing compliance, stock price volatility, funding ability, and cybersecurity threats[11](index=11&type=chunk) [PART I – FINANCIAL INFORMATION](index=5&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) This section presents the company's unaudited condensed consolidated financial statements and management's discussion and analysis for the period [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements, including balance sheets, statements of operations, changes in stockholders' equity, and cash flows, along with comprehensive notes detailing the company's financial position and performance for the period ended July 31, 2025 [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This section provides a snapshot of the company's assets, liabilities, and equity as of July 31, 2025, and April 30, 2025 | Metric | July 31, 2025 | April 30, 2025 | Change | % Change | | :-------------------------------- | :-------------- | :------------- | :----- | :------- | | Cash | $11,349,811 | $8,168,767 | $3,181,044 | 38.94% | | Total current assets | $12,308,343 | $8,895,398 | $3,412,945 | 38.37% | | Total assets | $28,333,997 | $24,866,267 | $3,467,730 | 13.94% | | Total current liabilities | $984,972 | $879,953 | $105,019 | 11.96% | | Warrant liability | $- | $11,631,100 | $(11,631,100) | -100.00% | | Total long-term liabilities | $821,579 | $12,400,007 | $(11,578,428) | -93.37% | | Total liabilities | $1,806,551 | $13,279,960 | $(11,473,409) | -86.40% | | Total stockholders' equity | $26,527,446 | $11,586,307 | $14,941,139 | 128.96% | - The significant decrease in **warrant liability to $0** as of July 31, 2025, from **$11,631,100** at April 30, 2025, was due to the exercise and reclassification of warrants into additional paid-in capital[14](index=14&type=chunk)[70](index=70&type=chunk)[73](index=73&type=chunk) [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) This section details the company's revenues, expenses, and net loss for the three months ended July 31, 2025, and 2024 | Metric | Three Months Ended July 31, 2025 | Three Months Ended July 31, 2024 | Change | % Change | | :----------------------------------- | :------------------------------- | :------------------------------- | :----- | :------- | | Net revenues | $- | $- | $- | 0.00% | | Total operating expenses | $3,638,077 | $2,592,693 | $1,045,384 | 40.32% | | Loss from operations | $(3,638,077) | $(2,592,693) | $(1,045,384) | 40.32% | | Total other income (loss) | $1,560,578 | $(1,732,612) | $3,293,190 | -190.07% | | Net loss | $(2,077,499) | $(4,325,305) | $2,247,806 | -51.97% | | Net loss per common share, basic and diluted | $(0.15) | $(0.40) | $0.25 | -62.50% | | Weighted average common shares outstanding | 13,866,388 | 10,732,277 | 3,134,111 | 29.20% | - The company reported **no net revenues** for both periods, consistent with its development-stage status[15](index=15&type=chunk)[114](index=114&type=chunk) - Net loss significantly decreased by **51.97% to $(2,077,499)** in Q1 2026, primarily due to a positive change in the fair value of warrant liability, which was **$1,495,000** compared to **$(1,749,150)** in Q1 2025[15](index=15&type=chunk)[117](index=117&type=chunk)[118](index=118&type=chunk) [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) This section outlines changes in the company's equity components, including common stock, additional paid-in capital, and accumulated deficit | Metric | April 30, 2025 | July 31, 2025 | Change | | :-------------------------------------------------- | :------------- | :------------ | :----- | | Common Stock Shares | 12,692,784 | 14,026,030 | 1,333,246 | | Common Stock Amount | $12,693 | $14,026 | $1,333 | | Additional Paid-in Capital | $104,980,837 | $121,998,142 | $17,017,305 | | Accumulated Deficit | $(93,407,223) | $(95,484,722) | $(2,077,499) | | Total Stockholders' Equity | $11,586,307 | $26,527,446 | $14,941,139 | - Total stockholders' equity increased by **$14,941,139**, or **128.96%**, primarily due to the reclassification of warrant liability into equity upon exercise (**$10,136,100**) and proceeds from common stock issuances for warrant and option exercises[17](index=17&type=chunk)[70](index=70&type=chunk) - Common stock shares outstanding increased by **1,333,246 shares**, driven by issuances for services, stock option exercises, and stock warrant exercises (including cashless exercises)[17](index=17&type=chunk)[76](index=76&type=chunk)[77](index=77&type=chunk)[78](index=78&type=chunk)[79](index=79&type=chunk)[80](index=80&type=chunk)[81](index=81&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section details the company's cash inflows and outflows from operating, investing, and financing activities | Cash Flow Activity | Three Months Ended July 31, 2025 | Three Months Ended July 31, 2024 | Change | | :----------------------------------- | :------------------------------- | :------------------------------- | :----- | | Net cash used in operating activities | $(3,315,172) | $(2,193,611) | $(1,121,561) | | Net cash provided by financing activities | $6,496,216 | $- | $6,496,216 | | Net increase/(decrease) in cash | $3,181,044 | $(2,193,611) | $5,374,655 | | Cash - end of period | $11,349,811 | $3,380,667 | $7,969,144 | - Net cash used in operating activities increased by **$1,121,561**, or **51.13%**, primarily due to an increase in non-cash items (change in fair value of warrant liability and stock-based compensation) and changes in operating assets and liabilities, despite a decrease in net loss[18](index=18&type=chunk)[122](index=122&type=chunk) - Net cash provided by financing activities was **$6,496,216** for the three months ended July 31, 2025, driven by proceeds from warrant exercises (**$6,483,012**) and stock option exercises (**$13,204**), compared to **$0** in the prior year period[18](index=18&type=chunk)[123](index=123&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and disclosures supporting the condensed consolidated financial statements [NOTE 1 — Organization and Description of Business](index=9&type=section&id=NOTE%201%20%E2%80%94%20Organization%20and%20Description%20of%20Business) This note describes the company's history, re-incorporation, name change, and its focus as a gold and precious metals exploration company - U.S. Gold Corp. (formerly Dataram Corporation) re-incorporated in Nevada in 2016 and changed its name in 2017 after merging with Gold King Corp., becoming a gold and precious metals exploration company[19](index=19&type=chunk) - The company owns mineral rights for the CK Gold Project (Wyoming), Keystone Project (Nevada), and Challis Gold Project (Idaho)[19](index=19&type=chunk) - The CK Gold Project has proven and probable mineral reserves and is classified as a development stage property, while other properties are exploratory[19](index=19&type=chunk)[20](index=20&type=chunk) [NOTE 2 — Summary of Significant Accounting Policies](index=9&type=section&id=NOTE%202%20%E2%80%94%20Summary%20of%20Significant%20Accounting%20Policies) This note outlines the key accounting principles and methods used in preparing the financial statements, including estimates and revenue recognition - Financial statements are prepared in accordance with U.S. GAAP, requiring management estimates for items like mineral rights valuation, stock-based compensation, and warrant liability[21](index=21&type=chunk)[22](index=22&type=chunk) - Warrant liability for March 2022 and April 2023 warrants was estimated using a Monte Carlo simulation model with Level 3 unobservable inputs[26](index=26&type=chunk)[41](index=41&type=chunk) - The company expenses all mineral exploration costs as incurred; development costs are capitalized only after requisite operating permits, a favorable Feasibility Study, and Board approval[31](index=31&type=chunk)[34](index=34&type=chunk) - The company operates in one operating and reportable segment, focused on mineral property exploration and evaluation, with no commercial operations or revenues to date[50](index=50&type=chunk)[51](index=51&type=chunk) - Recent accounting pronouncements, ASU 2023-09 (Income Tax Disclosures) and ASU 2024-03 (Disaggregation of Income Statement Expenses), are being assessed for their potential impact on future financial statements[53](index=53&type=chunk)[54](index=54&type=chunk) [NOTE 3 — Going Concern](index=15&type=section&id=NOTE%203%20%E2%80%94%20Going%20Concern) This note addresses the company's ability to continue operations, citing financial performance and the need for future funding - As of July 31, 2025, the company had **$11.3 million** in cash, **$11.3 million** in working capital, and an accumulated deficit of **$95.5 million**[56](index=56&type=chunk) - For the three months ended July 31, 2025, the company reported a net loss of **$2.1 million** and used **$3.3 million** in operating activities[56](index=56&type=chunk) - These factors, particularly the need for additional funds to advance projects beyond current permitting and engineering studies, raise substantial doubt about the company's ability to continue as a going concern for the next twelve months[56](index=56&type=chunk) [NOTE 4 — Mineral Rights](index=15&type=section&id=NOTE%204%20%E2%80%94%20Mineral%20Rights) This note details the carrying values of the company's mineral properties, including the CK Gold, Keystone, and Challis Gold Projects | Project | July 31, 2025 | April 30, 2025 | | :---------------- | :-------------- | :------------- | | CK Gold Project | $3,091,738 | $3,091,738 | | Keystone Project | $1,028,885 | $1,028,885 | | Challis Gold Project | $10,249,632 | $10,249,632 | | Total | $14,370,255 | $14,370,255 | [NOTE 5 — Property and Equipment](index=15&type=section&id=NOTE%205%20%E2%80%94%20Property%20and%20Equipment) This note presents the company's property and equipment, net of accumulated depreciation, for various asset categories | Category | July 31, 2025 | April 30, 2025 | | :-------------------- | :-------------- | :------------- | | Site costs | $203,320 | $203,320 | | Land | $352,718 | $352,718 | | Computer equipment | $9,924 | $9,924 | | Vehicle | $39,493 | $39,493 | | Total | $605,455 | $605,455 | | Less: accumulated depreciation | $(182,016) | $(173,580) | | Total Property, net | $423,439 | $431,875 | - Depreciation expense for the three months ended July 31, 2025, was **$8,436**, an increase from **$8,131** in the prior year period[60](index=60&type=chunk) [NOTE 6 — Asset Retirement Obligation](index=16&type=section&id=NOTE%206%20%E2%80%94%20Asset%20Retirement%20Obligation) This note outlines the company's asset retirement obligation, including the beginning balance, accretion expense, and ending balance | Metric | July 31, 2025 | April 30, 2025 | | :-------------------- | :-------------- | :------------- | | Balance, beginning of period | $338,421 | $307,657 | | Accretion expense | $8,479 | $30,764 | | Balance, end of period | $346,900 | $338,421 | - Accretion expense for the three months ended July 31, 2025, was **$8,479**, an increase from **$7,718** in the prior year period[61](index=61&type=chunk) [NOTE 7 – Operating Lease Right-of-Use Assets and Operating Lease Liabilities](index=16&type=section&id=NOTE%207%20%E2%80%93%20Operating%20Lease%20Right-of-Use%20Assets%20and%20Operating%20Lease%20Liabilities) This note details the company's operating lease assets and liabilities, including lease term and borrowing rate - The company extended two facility leases in Cheyenne, Wyoming, through amendments in January 2025 and June 2025, resulting in adjustments to right-of-use assets and lease liabilities[62](index=62&type=chunk)[63](index=63&type=chunk) | Metric | July 31, 2025 | April 30, 2025 | | :-------------------------------- | :-------------- | :------------- | | Operating lease right-of-use asset | $97,631 | $34,410 | | Operating lease liabilities, current portion | $53,438 | $34,410 | | Operating lease liabilities, long term portion | $44,193 | $- | | Total lease liability | $97,631 | $34,410 | - The weighted average remaining lease term is **1.79 years**, and the weighted average incremental borrowing rate is **9.56%** as of July 31, 2025[65](index=65&type=chunk) | Fiscal Year | Minimum Lease Payments | | :-------------------------- | :--------------------- | | Year ended April 30, 2026- remainder | $48,948 | | Year ended April 30, 2027 | $43,200 | | Year ended April 30, 2028 | $14,400 | | Total | $106,548 | | Less: imputed interest | $(8,917) | | Total present value of lease liability | $97,631 | [NOTE 8 — Related Party Transactions](index=17&type=section&id=NOTE%208%20%E2%80%94%20Related%20Party%20Transactions) This note discloses transactions with related parties, including consulting agreements and compensation arrangements - The company entered into a consulting agreement with Norman Consulting, an entity controlled by director Luke Norman, for investor and strategic introductions[67](index=67&type=chunk) - Compensation includes an annual consulting fee of **$250,000**, payments for 'transformative transactions,' and past services compensation of **19,779 restricted shares** and a **$65,000 cash payment**[67](index=67&type=chunk) - During the three months ended July 31, 2025, the company paid **$62,500** in cash consulting fees and recorded **$58,581** in accounts payable and accrued expenses to Norman Consulting[67](index=67&type=chunk) [NOTE 9 — Warrant Liability](index=18&type=section&id=NOTE%209%20%E2%80%94%20Warrant%20Liability) This note explains the classification and valuation of warrant liabilities, including their reclassification upon exercise - As of July 31, 2025, the company's warrant liabilities were **$0**, down from **$11,631,100** at April 30, 2025[68](index=68&type=chunk)[73](index=73&type=chunk) - Warrants issued in March 2022 and April 2023 were classified as liabilities due to a net cash settlement clause upon a 'fundamental transaction,' precluding equity treatment[68](index=68&type=chunk)[71](index=71&type=chunk) - The fair value of these warrants was estimated using a Monte Carlo Simulation model with Level 3 unobservable inputs[69](index=69&type=chunk) - In May 2025, upon exercise of **870,000 warrants** for cash and **625,000 warrants** via cashless exercise, the fair value of the warrant liability (**$10,136,100**) was reclassified into additional paid-in capital[70](index=70&type=chunk)[71](index=71&type=chunk)[73](index=73&type=chunk) [NOTE 10 — Stockholders' Equity](index=19&type=section&id=NOTE%2010%20%E2%80%94%20Stockholders'%20Equity) This note details changes in stockholders' equity, including common and preferred shares, stock option, and warrant activity - As of July 31, 2025, authorized capital included **200,000,000 common shares** and **50,000,000 preferred shares**, with no preferred shares outstanding[74](index=74&type=chunk)[75](index=75&type=chunk) - In May, June, and July 2025, the company issued **1,300,384 common shares** from warrant exercises, generating approximately **$6,483,012** in proceeds, and **260,071 shares** from cashless warrant exercises[76](index=76&type=chunk)[77](index=77&type=chunk) - Stock option exercises in May 2025 resulted in the issuance of **1,726 common shares** for **$13,204** and **1,016 shares** from cashless exercises[78](index=78&type=chunk) - Total stock-based compensation expense for awards issued for services was **$55,267** for the three months ended July 31, 2025, significantly up from **$9,375** in the prior year[82](index=82&type=chunk) | Metric | July 31, 2025 | April 30, 2025 | | :----------------------------------- | :-------------- | :------------- | | Stock Options Outstanding | 450,991 | 458,670 | | Options Exercisable | 386,428 | N/A | | Aggregate Intrinsic Value of Options Outstanding | $1,521,954 | $1,886,016 | | Stock Warrants Outstanding | 2,780,060 | 4,443,444 | | Warrants Exercisable | 2,780,060 | 4,443,444 | | Aggregate Intrinsic Value of Warrants Outstanding | $8,452,069 | N/A | [NOTE 11 — Net Loss Per Common Share](index=22&type=section&id=NOTE%2011%20%E2%80%94%20Net%20Loss%20Per%20Common%20Share) This note presents the basic and diluted net loss per common share and the weighted average shares outstanding | Metric | July 31, 2025 | July 31, 2024 | | :----------------------------------- | :-------------- | :------------- | | Net loss per common share, basic and diluted | $(0.15) | $(0.40) | | Weighted average common shares outstanding | 13,866,388 | 10,732,277 | - Basic and diluted net loss per share was **$(0.15)** for the three months ended July 31, 2025, an improvement from **$(0.40)** in the prior year[15](index=15&type=chunk) | Anti-Dilutive Securities | July 31, 2025 | July 31, 2024 | | :------------------------- | :-------------- | :------------- | | Restricted and deferred stock units | 586,461 | 433,475 | | Stock options | 450,991 | 192,750 | | Stock warrants | 2,780,060 | 4,288,949 | | Total | 3,817,512 | 4,915,174 | - All dilutive securities were excluded from the computation of diluted shares outstanding due to the company's net loss[90](index=90&type=chunk) [NOTE 12 — Commitments and Contingencies](index=22&type=section&id=NOTE%2012%20%E2%80%94%20Commitments%20and%20Contingencies) This note outlines the company's contractual obligations, including mining lease payments, royalty agreements, and legal proceedings - The CK Gold Project involves two Wyoming mining leases (0-40828 and 0-40858), renewed for ten-year terms in February 2023 and February 2024, respectively, requiring annual payments of **$3.00 per acre**[92](index=92&type=chunk)[93](index=93&type=chunk) - Production royalties of **2.1% of net receipts** are required for the Wyoming Mining Leases, with potential for reduction by the Board of Land Commissioners[94](index=94&type=chunk) | Fiscal Year | Mining Lease Payments | | :-------------------------- | :-------------------- | | Fiscal 2026 | $3,360 | | Fiscal 2027 | $3,360 | | Fiscal 2028 | $3,360 | | Fiscal 2029 | $3,360 | | Fiscal 2030 | $3,360 | | Fiscal 2031 and thereafter | $8,160 | | Total | $24,960 | - The Challis Gold Project option agreement requires annual advance minimum royalty payments of **$25,000**, with **$25,000** paid in June 2025 for fiscal year 2026[97](index=97&type=chunk)[98](index=98&type=chunk) - An Exploration Access and Option to Lease Agreement for a Laramie County, Wyoming property requires annual payments of **$10,000** for access rights and **$35,780** for the lease option, totaling **$42,340 annually**[99](index=99&type=chunk) - The company has no material pending legal proceedings[103](index=103&type=chunk) [NOTE 13 — Subsequent Events](index=24&type=section&id=NOTE%2013%20%E2%80%94%20Subsequent%20Events) This note discloses significant events that occurred after the reporting period, including warrant exercises and equity offerings - In August 2025, the company issued **231,665 common shares** from warrant exercises, generating approximately **$1,407,450** in proceeds, and **50,083 shares** from cashless warrant exercises[105](index=105&type=chunk) - During August and September 2025, the company issued **38,541 common shares** through a Controlled Equity Offering Sales Agreement, raising approximately **$523,275** in gross proceeds[106](index=106&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section provides management's perspective on the company's financial performance, liquidity, and capital resources for the three months ended July 31, 2025, highlighting key operational activities, expense changes, and the ongoing going concern assessment - The company is a gold and precious metals exploration company, with the CK Gold Project in a development stage and other properties in exploratory stages[111](index=111&type=chunk) - Key activities for the quarter included advancing engineering studies for a feasibility study, enhancing understanding of the Keystone Project, and preparing an exploration Plan of Operation for the Challis Gold Project[112](index=112&type=chunk) - The company engaged Mr. Ken Murray of Captrics Consulting and contracted Micon International Limited and Halyard Inc. to manage and conduct the next phase of engineering for the CK Gold Project[113](index=113&type=chunk) - U.S. Gold Corp. was added to the Russell 3000 and Russell 2000 Indexes effective June 30, 2025[113](index=113&type=chunk) Operating Expenses and Net Loss Comparison (Q1 2026 vs. Q1 2025) | Metric | Three Months Ended July 31, 2025 | Three Months Ended July 31, 2024 | Change | % Change | | :----------------------------------- | :------------------------------- | :------------------------------- | :----- | :------- | | Total operating expenses | $3,638,000 | $2,593,000 | $1,045,000 | 40.30% | | Loss from operations | $(3,368,000) | $(2,593,000) | $(775,000) | 29.89% | | Other income (loss) | $1,561,000 | $(1,733,000) | $3,294,000 | -190.00% | | Net loss | $(2,077,000) | $(4,325,000) | $2,248,000 | -51.98% | - The increase in operating expenses was driven by higher compensation (**$88,222**), professional and consulting fees (**$796,000**, including strategic, permitting, engineering, legal, and accounting fees), and general and administrative expenses (**$598,000**, mainly advertising), partially offset by a decrease in exploration expenses (**$437,000**)[115](index=115&type=chunk) Liquidity and Working Capital (July 31, 2025 vs. April 30, 2025) | Metric | July 31, 2025 | April 30, 2025 | Increase (decrease) | | :---------------- | :-------------- | :------------- | :------------------ | | Current Assets | $12,308,343 | $8,895,398 | $3,412,945 | | Current Liabilities | $984,972 | $879,953 | $105,019 | | Working Capital | $11,323,371 | $8,015,445 | $3,307,926 | - The company's cash position of **$11.35 million** and working capital of **$11.32 million** as of July 31, 2025, may be sufficient for corporate activities and current project studies for the next twelve months, but additional funds are required to advance projects further, raising substantial doubt about its going concern ability[121](index=121&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=28&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, U.S. Gold Corp. is not required to provide quantitative and qualitative disclosures about market risk - The company is exempt from providing disclosures about market risk as it qualifies as a smaller reporting company[127](index=127&type=chunk) [Item 4. Controls and Procedures](index=29&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of July 31, 2025, and reported no material changes in internal control over financial reporting during the period - The company's disclosure controls and procedures were deemed effective at a reasonable assurance level as of July 31, 2025[128](index=128&type=chunk) - There were no material changes in internal control over financial reporting during the three months ended July 31, 2025[129](index=129&type=chunk) [PART II – OTHER INFORMATION](index=29&type=section&id=PART%20II%20%E2%80%93%20OTHER%20INFORMATION) This section includes disclosures on legal proceedings, risk factors, equity sales, defaults, mine safety, and other relevant information [Item 1. Legal Proceedings](index=29&type=section&id=Item%201.%20Legal%20Proceedings) The company is not aware of any material pending legal proceedings to which it is a party or of which its property is the subject - There are no material pending legal proceedings involving the company or its property[131](index=131&type=chunk) [Item 1A. Risk Factors](index=29&type=section&id=Item%201A.%20Risk%20Factors) As a smaller reporting company, U.S. Gold Corp. is not required to include specific risk factor disclosures under this item in its Form 10-Q - The company is exempt from providing specific risk factor disclosures in this report due to its status as a smaller reporting company[132](index=132&type=chunk) [Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=29&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities,%20Use%20of%20Proceeds,%20and%20Issuer%20Purchases%20of%20Equity%20Securities) There were no unregistered sales of equity securities during the fiscal quarter ended July 31, 2025, that had not been previously reported - No unregistered sales of equity securities occurred during the quarter that were not previously reported on a Form 8-K[133](index=133&type=chunk) [Item 3. Defaults Upon Senior Securities](index=29&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities during the period - There were no defaults upon senior securities[134](index=134&type=chunk) [Item 4. Mine Safety Disclosures](index=29&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) The company's properties and operations were not subject to regulation by the Mine Safety and Health Administration (MSHA) during the three months ended July 31, 2025, thus no mine safety disclosures are required - The company's operations were not subject to MSHA regulation during the quarter, therefore no mine safety disclosures are required[135](index=135&type=chunk) [Item 5. Other Information](index=29&type=section&id=Item%205.%20Other%20Information) No Rule 10b5-1 or non-Rule 10b5-1 trading arrangements were adopted or terminated by directors or executive officers during the quarter - No Rule 10b5-1 or non-Rule 10b5-1 trading arrangements were adopted or terminated by directors or executive officers during the three months ended July 31, 2025[136](index=136&type=chunk) [Item 6. Exhibits](index=30&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed as part of the Form 10-Q, including amendments to warrant agreements, equity offering sales agreements, and certifications - Exhibits include Form of Amendment No. 1 to Warrant Agreement, Controlled Equity Offering Sales Agreement, and Rule 13a-14(a) and Section 1350 Certifications[137](index=137&type=chunk)

Core Points - U.S. Gold Corp. will attend the Mining Forum Americas 2025 Conference from September 14-17, 2025, at the Broadmoor Hotel & Resort in Colorado Springs, Colorado [1][3] - The Mining Forum is recognized as the world's oldest and most prestigious precious commodity equities investment forum, showcasing a significant portion of publicly traded gold and silver companies [2] - U.S. Gold's management will provide an update on the company's projects during a corporate presentation on September 16, 2025 [3] Company Overview - U.S. Gold Corp. is a publicly traded company focused on gold and copper exploration and development, with a portfolio that includes the CK Gold Project in Southeast Wyoming, the Keystone exploration property in Nevada, and the Challis Gold Project in Idaho [4]

Core Points - U.S. Gold Corp. will attend the 2025 Precious Metals Summit in Beaver Creek, Colorado from September 9-12, 2025, highlighting its focus on gold and copper exploration and development [1][3][4] - The Summit is a premier investment conference for gold, silver, and platinum group metals, featuring institutional investors and nearly 200 selected mining and exploration companies [2] Company Information - U.S. Gold Corp. is a publicly traded company focused on gold and copper exploration, with key projects including the CK Gold Project in Southeast Wyoming, the Keystone property in Nevada, and the Challis Gold Project in Idaho [5] - The CK Gold Project has a Preliminary Feasibility Study completed by Samuel Engineering Inc., indicating the company's commitment to advancing its exploration properties [5] Event Details - George Bee, President & CEO of U.S. Gold, will present at the Summit on September 10th, providing updates on the company's projects and value proposition to investors [3][4] - The event is invitation-only, facilitating direct engagement between U.S. Gold's management and institutional investors [3][4]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive's content includes insights across various sectors such as biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Group 2 - Proactive is committed to adopting technology to enhance workflows and improve content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive focuses on sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Group 2 - Proactive is committed to adopting technology to enhance workflows and content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

CHEYENNE, Wyo., Aug. 27, 2025 /PRNewswire/ -- U.S. Gold Corp. ("U.S. Gold," the "Company," "we," "our" or "us") (Nasdaq: USAU) is pleased to announce that Gold King Corp., a wholly-owned subsidiary of U.S. Gold, has executed a contract with Cheyenne Light, Fuel and Power ("CLFP"), a subsidiary of Black Hills Corp., the first step toward construction of the powerline to serve the CK Gold Project leading to the development of its wholly owned CK Gold Project (the "Project") situated in southeast Wyoming, U.S. ...

Core Viewpoint - U.S. Gold Corp. has adopted Glencore Technology's Jameson Cell Flotation Equipment to enhance gold and copper recovery at the CK Gold Project, following extensive engineering and optimization studies [1][2][4]. Group 1: Technology Adoption - The Jameson Cell flotation technology is expected to improve metal recovery, reduce power consumption, and require less space compared to conventional flotation cells [2][4]. - U.S. Gold conducted additional testing on CK Gold Project ore, confirming increased recovery rates for both gold and copper compared to the February 2025 Prefeasibility Study [3]. Group 2: Economic Impact - A trade-off study estimated that incorporating Jameson Cells could enhance the project's Net Present Value (NPV) by approximately $36 million over the mine's life compared to traditional tank flotation technology [4]. - The study also indicated potential reductions in operating costs and equipment needs, contributing to the project's overall economic robustness [4]. Group 3: Strategic Partnerships - Glencore Technology has provided a limited performance guarantee and continues to support the engineering and cost parameters for the proposed equipment [5]. - U.S. Gold has secured pricing for unused Jameson Cells through October 2025, originally intended for a canceled project, ensuring cost stability for the implementation [5]. Group 4: Company Overview - U.S. Gold Corp. is a publicly traded company focused on gold and copper exploration and development, with the CK Gold Project located in Southeast Wyoming [8]. - The company also has exploration properties in Nevada and Idaho, indicating a diversified portfolio in the mining sector [8].

Group 1 - Coeur Mining (CDE) is currently outperforming its peers in the Basic Materials sector, with a year-to-date return of approximately 70.5% compared to the sector average of 11.7% [4] - The Zacks Rank for Coeur Mining is 1 (Strong Buy), indicating a positive earnings outlook and strong analyst sentiment, with a consensus estimate for full-year earnings having increased by 57.6% in the past quarter [3][4] - Coeur Mining belongs to the Mining - Non Ferrous industry, which has seen a decline of about 1.1% year-to-date, further highlighting CDE's strong performance relative to its industry [6] Group 2 - Another notable stock in the Basic Materials sector is US Gold Corp (USAU), which has achieved a year-to-date return of 82.7% and has a Zacks Rank of 2 (Buy) [5] - The Mining - Gold industry, to which US Gold Corp belongs, has performed well with a year-to-date increase of 69%, although it is ranked 55 in the Zacks Industry Rank [6] - Investors interested in Basic Materials stocks should monitor both Coeur Mining and US Gold Corp for continued strong performance [7]