U.S. Gold Corp. Announces Maggie Creek Exploration Update

ELKO, Nev., Oct. 28, 2020 /PRNewswire/ -- U.S. Gold Corp. (Nasdaq: USAU) (the "Company") a gold exploration and development company, is pleased to announce its potential future Maggie Creek exploration plans for the project on the Carlin Trend in Nevada. 

The Maggie Creek Project is located in the heart of the Carlin Trend, immediately adjacent to Newmont's (NYSE: NEM) 26-million-ounce Gold Quarry mine.  The Project occurs along the northeast projection of the Gold Quarry fault zone, which is an important mineralizing control at the Gold Quarry mine, indicating the potential to discover Carlin style gold deposits.  The recent discoveries at Carlin (Leeville) and Gold Quarry (Chukar) demonstrate the potential for high-grade deposits at depth, which are mostly untested at Maggie Creek.  Newmont's Rainbow deposit occurs immediately south of the Maggie Creek project boundary.  U.S. Gold Corp. has an option to earn up to 70% of the Maggie Creek project from Orogen Royalties, Inc. (TSX.V: OGN).

The Company believes Maggie Creek has significant discovery potential and its exploration team and leading consultants are continuously interpreting all the historical drilling and exploration work previously done in the area.  Results of a district-wide gravity survey on the Maggie Creek claims were previously announced on May 13, 2020. This new geological information, synthesized with historical district information, has been incorporated in the Company's future exploration plans.  The Maggie Creek exploration program in the future is expected to initially test mineralized gold horizons exposed at surface that are projected to down dip into district-scale structures.  Historical drilling at Maggie Creek has been relatively shallow, with a mean depth of just 300 feet.  The numerous gold showings within classical stratigraphy and structure that hosts the majority of gold ounces in the Carlin Trend are evident.  The same host rocks and fault structures associated with the Gold Quarry Mine, including the Chukar-Alunite Fault Zone, that partly drive the high-grade mineralization at Gold Quarry potentially extend onto the Maggie Creek property.  The projection of the Chukar-Alunite fault zone into the Maggie Creek Property where it intersects a strong NW structural corridor presents high priority potential drill targets.