U.S. Gold Corp. Provides Update on Recent Warrant Exercises

Core Viewpoint - U.S. Gold Corp. has successfully exercised a significant number of warrants, resulting in a substantial cash inflow to support its ongoing projects and reduce the number of outstanding warrants, thereby limiting potential dilution for shareholders [2][3]. Group 1: Warrant Exercises - As of January 31, 2025, U.S. Gold Corp. had 4,788,112 warrants outstanding, and since then, 1,864,668 warrants have been exercised, generating approximately $7.3 million in gross proceeds [2]. - The recent exercises represent a 39% reduction in the number of outstanding warrants, leaving a balance of 2,923,444 warrants [2]. Group 2: Financial Implications - The cash received from the warrant exercises provides the company with additional flexibility to complete a Feasibility Study, develop a project execution plan, advance financing discussions, and fund project infrastructure [3]. - The reduction in outstanding warrants helps to limit the overhang of dilutive securities, which is beneficial for existing shareholders [3]. Group 3: Project Development - U.S. Gold Corp. is focused on advancing its flagship asset, the CK Gold Project in Southeast Wyoming, and is also monitoring its exploration projects at the Keystone property in Nevada and the Challis Gold Project in Idaho [3][4]. - The additional cash infusion from the warrant exercises may be allocated to further advance these exploration projects [3].