U.S. Gold Corp. Provides CEO Update - April 2025

Core Viewpoint - U.S. Gold Corp. has made significant advancements in its operations, particularly with the CK Gold Project, which is fully permitted and shows strong economic metrics, contributing to a substantial increase in share price and market capitalization over the past year [5][6][10]. Financial Performance - The company's share price increased from $4.18 to $10.40, representing a 149% rise, while market capitalization grew from $45 million to $132 million, a 193% increase [5][6]. - The rise in valuation is attributed to the updated CK prefeasibility study and the full permit received for the CK Gold Project [5][6]. - The company raised $10.2 million in November 2024, strengthening its treasury through the exercise of warrants [11]. CK Gold Project - The CK Gold Project is fully permitted as of November 2024 and demonstrates strong economic metrics at conservative metal prices, with projections of $2,100 per ounce for gold and $4.10 per pound for copper [6][7]. - The project is strategically located near Cheyenne, Wyoming, benefiting from access to skilled labor and transportation infrastructure [8]. - The project aims to mitigate tariff exposure by prioritizing American-sourced materials and equipment, with mechanical equipment and steel accounting for approximately 28% of initial capital [9]. Financing and Risk Management - The company is receiving interest from debt providers, indicating potential avenues for securing significant debt financing to support project development [10]. - Management is focused on minimizing shareholder dilution while ensuring financial stability through low burn rates and prior capital raises [11]. Future Steps - Final feasibility study work is expected to begin in late May 2025, with targeted completion in Q3 2025, and potential project development commencement in late 2025 or early 2026 [12][16]. - Additional reconnaissance work is planned around the CK Gold Project, while deeper drilling has been postponed for strategic reasons [13]. Exploration Opportunities - The Keystone Project presents opportunities for near-surface oxide and deeper sulfide mineralization, awaiting exploration capital or partnerships [14]. - The Challis Gold Project is also positioned for exploration activities once financing or partnerships are secured [15].