U.S. Gold Reaffirms its Commitment to Supporting Economic Development in Southeast Wyoming with its CK Gold Project

Company hires local contractors and engages small businesses within Cheyenne and Laramie County; CK Gold Project is anticipated to create an estimated 2,600
direct and indirect jobs

CHEYENNE, Wyo., May 19, 2022 /PRNewswire/ -- As Economic Development Week continues, U.S. Gold Corp. ("U.S. Gold," the "Company," "we," "our" or "us") (NASDAQ: USAU) is reaffirming its commitment to supporting economic growth in southeast Wyoming through the hiring of local contractors and engaging businesses within the area for its advanced stage gold and copper project, CK Gold Project.

To date, U.S. Gold has invested approximately $3 million in community contractors for its proposed project, located at the site of the historic Copper King Mine in Wyoming's Silver Crown Mining District. Additionally, the Company is on track to complete its feasibility study, secure the necessary permits, and build the mine to be fully operational by 2024. 

"The vitality of Cheyenne and Laramie County's economy is paramount to our growth and sustainability," said Cheyenne Mayor Patrick Collins. "We are thrilled that many of our hard-working citizens and local businesses will benefit from this project."  

"The CK Gold Project is expected to create long-term jobs support local workers and bring together the community of Cheyenne and surrounding areas," said George Bee, President and CEO of U.S. Gold Corp. "We take economic development seriously in the communities we work in and are committed to partnering with Wyoming-based contractors to complete this important project, and help boost the region's economic prosperity."

"As we celebrate Economic Development Week, we view the CK Gold Project as a significant economic driver for Cheyenne and Laramie County," said Betsey Hale, CEO of Cheyenne LEADS. "Businesses in our area, workers, and the people living in our community stand to benefit a great deal from the development of this project."

A report developed by the University of Wyoming's Center for Business and Economic Analysis estimates the CK Gold Project would create an estimated 2,600 direct and indirect jobs throughout the lifespan of the project.

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. The CK Gold Project is located in Southeast Wyoming and has a Preliminary Feasibility Study (PFS) technical report, which was completed by Gustavson Associates, LLC. 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

Forward-Looking Statements

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 statements relating to the timing of completion of our feasibility study, receipt of necessary permits and ability to begin operations by 2024. 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: market and other conditions; the prevailing market conditions for metal prices and mining industry cost inputs, environmental and regulatory risks, COVID-19 uncertainties, 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 and implement future exploration programs, the success or failure of future drilling programs, 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

Cision View original content:https://www.prnewswire.com/news-releases/us-gold-reaffirms-its-commitment-to-supporting-economic-development-in-southeast-wyoming-with-its-ck-gold-project-301550932.html

SOURCE U.S. Gold Corp.