CK Gold Project Drilling Program Continues To Identify Gold And Copper Mineralization

CHEYENNE, WY - U.S. Gold Corp. has received assays for the last three holes of its CK Gold Project 2021 drilling program. The Company continues to be encouraged by the positive results from its confirmatory and expansion drilling. Additionally, in June 2022, internationally acclaimed geologist Dr. Richard Sillitoe reviewed the core, consulted with Company geologists and conducted a site visit of the Project. It is confirmed that the gold-copper mineralization is of porphyry type and may have expansion opportunities at depth, to the southeast and in other, yet to be discovered, porphyry intrusions since deposits of this type can occur in clusters.

Kevin Francis, V.P. Exploration and Technical Services, said, "The primary purpose of the 2021 drilling program was to support feasibility study level hydrology and geotechnical studies. The three holes reported, CK21-04c, CK21-05c and CK21-08c, were primarily hydrology holes. CK21-04c confirms results of additional 2021 drilling which intercepted future mineral resource expansion potential immediately south and below the proposed open pit. While we know that there are additional mineral resources requiring further exploration expenditures, our priority is to realize the value of the commercially attractive gold-copper project identified in our prefeasibility study. We continue to advance the permit to mine application, which will be led by Wyoming's Department of Environmental Quality ("DEQ"). We were honored to host Dr. Sillitoe at the Project. His keen observations and recommendations have resulted in an improved understanding of the Project geology and ideas for new discoveries."