PART I [Items 1 and 2. Business and Properties](index=6&type=section&id=Items%201%20and%202.%20Business%20and%20Properties) U.S. Gold Corp. is a gold, copper, and precious metals development and exploration company, advancing its CK Gold Project in Wyoming, with no current revenue-producing activities. [1.1 Company Overview and Business Model](index=6&type=section&id=1.1%20Company%20Overview%20and%20Business%20Model) U.S. Gold Corp. is a Nevada-incorporated gold, copper, and precious metals development and exploration company, with its CK Gold Project in development and no current revenue. - Company re-incorporated under Nevada laws in **2016**, formerly Dataram Corporation[20](index=20&type=chunk) - Focuses on gold, copper, and precious metals development and exploration primarily in Wyoming, Nevada, and Idaho[20](index=20&type=chunk) - CK Gold Project in Wyoming is a development stage property with proven and probable mineral reserves[21](index=21&type=chunk) - Other properties (Keystone, Challis Gold) are exploratory in nature, without proven and probable mineral reserves[21](index=21&type=chunk) - Currently has no revenue-producing activities[21](index=21&type=chunk) [1.2 Corporate Information](index=6&type=section&id=1.2%20Corporate%20Information) U.S. Gold Corp. maintains its principal executive offices in Elko, Nevada, operating with 4 full-time employees and utilizing consultants for specialized tasks. - Corporate address: 1910 E. Idaho Street, Suite 102-Box 604, Elko, NV 89801[24](index=24&type=chunk) - As of April 30, 2025, the company had **4 full-time employees** and no part-time employees[25](index=25&type=chunk) - Utilizes consultants for specific skills in project evaluation, due diligence, corporate governance, and property management[25](index=25&type=chunk) [1.3 Mineral Properties and Projects Summary](index=8&type=section&id=1.3%20Mineral%20Properties%20and%20Projects%20Summary) The company's portfolio includes the development-stage CK Gold Project in Wyoming, exploration properties in Nevada and Idaho, and a potential royalty interest in the Maggie Creek project. Summary of Current Mineral Properties | Property | Stage of Property/Mine and mineralization types | Ownership, Mineral Rights, Leases or Options | Key permit conditions | Processing plants and other available facilities | Other | | :--- | :--- | :--- | :--- | :--- | :--- | | CK Gold Project - Wyoming | Development stage, proposed open-pit mine producing a copper concentrate containing gold, copper and silver from porphyry-style mineralization. | 100% ownership - Two state of Wyoming Mineral Leases covering approximately 1,120 acres in Laramie County, Wyoming. State of Wyoming has certain royalty interests on mineral production. | All key permitting conditions were met in November 2024. | No significant facilities. | | | Keystone - Nevada | Gold exploration | 100% ownership - 601 unpatented lode mining claims comprising approximately 20 square miles in Eureka County, Nevada. | Exploration permits received. Reclamation bonding in place. Additional exploration permits may be necessary for additional exploration. | No significant facilities. | | | Challis - Idaho | Gold exploration | 100% ownership - 77 unpatented lode mining claims in Lemhi County, Idaho covering approximately 1,710 acres. A royalty interest has been granted on the Challis property. | Preparing a revised plan of operations for further exploration. | No significant facilities. | | | Maggie Creek - Nevada | Gold exploration | Having sold the project to Nevada Gold Mines Inc., we retain a potential Royalty position. | 0.5% NSR subject to NGM exercising their option on the property, with a buy option to reduce the royalty to 0.25% for $800,000. | No significant facilities. | | - Employs a rigorous Quality Assurance/Quality Control (QA/QC) protocol for sampling and analytical procedures, including certified standards, blank samples, and duplicates[31](index=31&type=chunk) [1.4 CK Gold Project, Wyoming](index=9&type=section&id=1.4%20CK%20Gold%20Project,%20Wyoming) The CK Gold Project, near Cheyenne, Wyoming, has secured all major permits by November 2024, with an updated Prefeasibility Study in February 2025 reporting a pre-tax NPV of **$459 million** and an IRR of **36.0%**, and proven and probable mineral reserves of **1.672 million AuEq ounces**. - Located in southeastern Wyoming, approximately 20 miles west of Cheyenne[33](index=33&type=chunk) - Rights arise under two State of Wyoming mineral leases (0-40828 and 0-40858), renewed until February 1, **2033**, and February 1, **2034**, respectively[39](index=39&type=chunk)[40](index=40&type=chunk) - Production royalty rate fixed at a flat **2.1%** of net receipts once the project is in operation[41](index=41&type=chunk) - All key permitting conditions were met in November **2024**, including MOP approval (May 2024), reclamation bond acceptance, water discharge permit, and air quality permit[29](index=29&type=chunk)[45](index=45&type=chunk)[46](index=46&type=chunk) - Industrial Siting Permit (ISP) was approved in June **2023**[47](index=47&type=chunk) - Geology and Mineralization: Porphyry gold-copper deposit with oxide, mixed oxide-sulfide, and sulfide rock types[52](index=52&type=chunk)[53](index=53&type=chunk) CK Gold Project – Summary of Gold, Copper and Silver Mineral Resources at April 30, 2025 (Exclusive of Reserves) | | Mass (000's Tons) | Gold (000's Oz) | Copper (millions lbs) | Silver (000's Oz) | AuEq (000's Oz) | | :--- | :--- | :--- | :--- | :--- | :--- | | Measured (M) | 1,900 | 13 | 5 | 112 | 66 | | Indicated (I) | 12,400 | 118 | 36 | 484 | 238 | | M + I | 14,400 | 131 | 41 | 596 | 304 | | Inferred | 34,900 | 334 | 112 | 1,073 | 653 | CK Gold Project – Summary of Gold, Copper and Silver Mineral Reserves at April 30, 2025 | | Mass (000's Tons) | Gold (000's Oz) | Copper (millions lbs) | Silver (000's Oz) | AuEq (000's Oz) | | :--- | :--- | :--- | :--- | :--- | :--- | | Proven (P1) | 34,500 | 595 | 133 | 1,591 | 909 | | Probable (P2) | 38,800 | 426 | 127 | 1,417 | 763 | | P1 + P2 | 73,200 | 1,022 | 260 | 3,008 | 1,672 | - Updated Prefeasibility Study (PFS) released on February 11, **2025**, outlining the basis to proceed to a feasibility study (FS)[65](index=65&type=chunk) - PFS highlights include a base case Net Present Value (NPV) of **$459 million** (pre-tax) and an Internal Rate of Return (IRR) of **36.0%**, based on specific metal price assumptions[66](index=66&type=chunk) - Mineral Reserves increased by **16%** over the prior PFS, totaling **1.672 million AuEq ounces**, supporting an eight-year mine life and 10 years of processing[66](index=66&type=chunk) - Advancing toward FS completion by the end of **2025**, with key groundwork already completed[66](index=66&type=chunk) - Geological potential exists to expand resources at depth and to the southeast of the main orebody[72](index=72&type=chunk) [1.5 Keystone Project, Nevada](index=16&type=section&id=1.5%20Keystone%20Project,%20Nevada) The Keystone Project in Eureka County, Nevada, consists of 601 unpatented lode mining claims on the Cortez gold trend, subject to various net smelter royalty obligations, with recent hyperspectral surveys identifying high-priority targets for exploration. - Consists of **601 unpatented lode mining claims** in Eureka County, Nevada, on the prolific Cortez gold trend[73](index=73&type=chunk)[83](index=83&type=chunk) - Claims are on federal land administered by the U.S. Bureau of Land Management (BLM) and are subject to annual maintenance fees and pre-existing net smelter royalty (NSR) obligations ranging from **0.5% to 3.5%**[78](index=78&type=chunk)[79](index=79&type=chunk) - No comprehensive, modern-era, model-driven exploration has been conducted on the project, despite historical drilling by various companies encountering low-grade gold intercepts[81](index=81&type=chunk) - Hyperspectral surveys in **2022** and **2023** identified multiple high-priority targets requiring further investigation[84](index=84&type=chunk) - The project does not currently include any significant facilities but is served by paved and unpaved roads and is near Nevada Gold Mines' Cortez Complex infrastructure[85](index=85&type=chunk) [1.6 Challis Gold Project, Idaho](index=20&type=section&id=1.6%20Challis%20Gold%20Project,%20Idaho) The Challis Gold Project in Idaho, comprising 77 unpatented lode mining claims within the Trans-Challis Fault System, exhibits low sulfidation epithermal gold mineralization and has undergone extensive historical and recent exploration. - Located in the Salmon River Mountains, Idaho, approximately **40 km** southwest of Salmon[86](index

Company Overview - U.S. Gold Corp. is a publicly traded company focused on gold and copper exploration and development, with a portfolio of exploration properties including the CK Gold Project in Southeast Wyoming, the Keystone exploration property in Nevada, and the Challis Gold Project in Idaho [5] Sponsorship and Community Engagement - U.S. Gold Corp. is serving as a Copper Boot sponsor for the 129th Annual Cheyenne Frontier Days, which is the world's largest outdoor rodeo, highlighting the company's commitment to the local community and economy [1][3] - This marks the third year as a Copper Boot sponsor and the fourth year overall sponsoring the event, indicating a long-term commitment to the region [3] CK Gold Project Development - The CK Gold Project received its Mine Operating Permit from the Wyoming Department of Environmental Quality in May 2024, clearing major regulatory hurdles for development [4] - The project has proven and probable mineral reserves of 1.02 million ounces of gold and 260 million pounds of copper, with an estimated average annual production of 111,250 ounces of gold equivalent over a ten-year mine life [4] - The company believes that the CK Gold Project will support federal and state plans to electrify the automotive industry, as copper is essential for renewable energy and electric transmission [4]

Key Points - The article highlights significant stock movements in the Hong Kong and US markets, with various companies experiencing notable gains and losses due to recent developments and announcements [1][2][3][4][5] Hong Kong Market Highlights - China Rare Earth Holdings (03788) surged nearly 20%, with a year-to-date increase of 320%, as the company proposed a spin-off of its gold segment for independent listing on the Hong Kong Stock Exchange [1] - Innovent Biologics (09969) rose nearly 4% after announcing the clinical approval of its new ADC innovative drug ICP-B794 [1] - North Sea Kangcheng - B (01228) increased over 50%, with its stock price doubling in three days, marking it as a rare disease stock in the Hong Kong market [1] - Hong Kong Travel (00308) saw a rise of over 24%, achieving a year-to-date stock price doubling, driven by market speculation on stablecoin cross-border payment scenarios [1] - CSPC Pharmaceutical Group (01093) gained nearly 3% after receiving drug registration approval for Mesalazine enteric-coated tablets, enhancing its product line in the immune system treatment sector [1] - Ruian Real Estate (00272) rose over 4%, with a cumulative contract property sales amount for the first six months increasing by 457% year-on-year [1] - Cornerstone Pharmaceuticals - B (02616) increased over 3%, planning to raise HKD 467 million for clinical research on CS2009 [1] - Q Technology (01478) rose over 7%, with mobile camera module sales of 32.648 million units in June, a year-on-year increase of 1.5% [1] - Dekang Agriculture and Animal Husbandry (02419) increased by 6%, with a new cycle logic continuing to strengthen, and Tianfeng Securities set a target price of HKD 154 [1] - Contemporary Amperex Technology (03750) rose over 3%, reaching a new high since its listing, following a deepened strategic cooperation agreement with Geely Automobile [2] - Gaming stocks continued to rise, with Wynn Macau (01128) up 6.49%, New World Development (00200) up 6.15%, and others showing similar gains [2] - Gold stocks faced declines, with Golden Resources (GORO.US) dropping nearly 10% and others following suit [4] US Market Highlights - Stablecoin concept stocks continued to rise, with Tiger Brokers (TIGR.US) increasing over 8% [4] - Trump Media & Technology Group (DJT.US) rose over 2% as the company seeks SEC approval for a blue-chip cryptocurrency ETF [4] - Wolfspeed (WOLF.US) continued to rise, with stock prices increasing over 9% [4] - Intel (INTC.US) rose over 7% after announcing company-wide layoffs [4] - JD.com (JD.US) increased over 2% as it launched its "Double Hundred Plan" for its delivery service [4]

Core Viewpoint - U.S. Gold Corp has significantly increased its market capitalization and visibility in the investment community, particularly with its recent inclusion in the Russell 3000 and 2000 Indexes, while advancing the CK Project in southeast Wyoming [1][3]. Company Progress - The company has almost tripled its market capitalization over the past year, indicating strong growth and investor interest [3]. - The addition to the Russell Indexes enhances visibility to generalist investors, suggesting a positive outlook for attracting more investment [3][4]. Project Development - U.S. Gold Corp is moving into the next phase of work on the CK Project, having brought in experienced professionals for engineering and feasibility studies [4][5]. - The project management team includes Ken Murray from Captrics, who has a strong track record, and the Micon-Halyard combination for engineering, which is expected to ensure a solid execution plan [4][6]. Market Context - The domestic production of copper and gold is increasingly important due to supply interruptions globally, highlighting the strategic significance of the CK Project in Wyoming [7][8]. - The project is positioned in a low-risk jurisdiction, which aligns with the U.S. agenda for securing critical minerals amidst market uncertainties [8].

Core Insights - U.S. Gold Corp. has been added to the Russell 3000 and Russell 2000 indexes effective June 30, 2025, which is a significant milestone for the company [1][2][3] - The inclusion in these indexes is expected to enhance market visibility and attract institutional investors, thereby broadening the shareholder base [4][6] Company Overview - U.S. Gold Corp. is focused on gold and copper exploration and development, with key projects including the CK Gold Project in Southeast Wyoming, the Keystone exploration property in Nevada, and the Challis Gold Project in Idaho [6] - The CK Gold Project has a Preliminary Feasibility Study technical report completed by Samuel Engineering Inc. [6] Market Impact - The company's stock experienced a notable increase in trading volume on June 27, 2025, prior to the index reconstitution, indicating heightened interest from the market [2][4] - Approximately $10.6 trillion in assets are benchmarked against the Russell U.S. indexes, highlighting the significance of inclusion in these indexes for investment managers and institutional investors [4]

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced and qualified news journalists who produce independent content [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content includes insights across various sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans [5]

Core Viewpoint - US Gold Corp is set to join the Russell 3000 and Russell 2000 indexes, marking a significant milestone in its growth and recognition within the junior gold mining sector [1][4]. Company Performance - Over the past year, US Gold's market capitalization has increased from $45 million to $132 million, largely due to advancements at its CK Gold Project [2]. - The company received final permits for the CK Gold Project in November 2024, which is strategically located near Cheyenne, benefiting from existing infrastructure [3]. Project Details - The CK Gold Project is expected to complete a definitive feasibility study by the fourth quarter of 2025, with plans for financing and development to follow [3]. - The project is noted for its lower capital expenditure forecasts, approximately one-third of global averages, which may enhance its attractiveness to investors [5]. Financial Strategy - The project is anticipated to pay back capital in less than two years, with the company focusing on debt financing to avoid equity dilution [6]. - A recent private placement of $10.3 million has bolstered the company's financial position [6]. Economic Viability - The updated pre-feasibility study indicates strong economic potential at conservative commodity prices of $2,100 per ounce for gold and $4.10 per pound for copper [7]. - The company is exploring innovative technologies to improve recovery rates and reduce costs [7]. Future Outlook - US Gold is also considering joint ventures or spinouts for its exploration-stage projects in Nevada, but the primary focus remains on the CK Gold Project [8]. - The company is transitioning from an exploration phase to a development phase, with significant momentum and confidence in the project's future production [9].

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced news journalists who produce independent content across various financial markets [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content includes insights into sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is committed to adopting technology to enhance its content creation and workflow processes [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all published content is edited and authored by humans [5]

Core Viewpoint - U.S. Gold Corp. has engaged Mr. Ken Murray of Captrics Consulting to manage the finalization of studies leading to a Definitive Feasibility Study and the development of the Project Execution Plan for the CK Gold Project [1][2]. 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 located in Southeast Wyoming [4][5]. - The company aims to grow its team and expand expertise to ensure the CK Gold Project is delivered on time and within budget, capitalizing on the increasing domestic demand for copper and gold [2]. Project Management and Execution - Mr. Ken Murray will focus on coordinating engineering activities, developing strategies for future project phases, and managing a high-performance project team [4]. - His responsibilities will include overseeing budget planning, cost control, risk management, and ensuring compliance with environmental and safety regulations [4]. Mr. Ken Murray's Background - Mr. Murray brings over 25 years of industry experience and has held lead roles in various companies, working on projects for major clients in the mining sector [3]. - As the Founder and CEO of Captrics Consulting, he has served in multiple capacities, providing significant competitive advantages through his broad experience in project life-cycles [3].

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced news journalists who produce independent content across various financial markets [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content includes insights into sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is committed to adopting technology to enhance its content creation and workflow processes [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all published content is edited and authored by humans [5]