U.S. Gold Corp. Releases Additional Drill Results and is on Track to Complete Pre-Feasibility Study for the CK Gold Project

- Drill results highlighted by CK20-03c, returning 182.1m of continuous mineralization grading 2.065 g/t AuEq

- Preliminary evaluation of drill results suggest an expected slight increase in overall gold grades relative to predicted grades in the 2017 MDA Preliminary Economic Assessment (PEA) resource estimate

- Geologic modeling, resource estimation, geotechnical and hydrological modeling, preliminary mine planning and metallurgical work are all advancing well and are currently on schedule for Pre-Feasibility Study (PFS) completion by end of Q2 2021

ELKO, Nev., March 30, 2021 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU) (the "Company"), a gold exploration and development company, is pleased to announce additional drill results from its recent 30-hole drilling program for its CK Gold Project, an advanced stage gold and copper exploration and development project located just outside of Cheyenne, Wyoming. A PDF file of drill results to date can be accessed from the link below:

CK Gold Project 2020 drilling results summary table:
www.usgoldcorp.gold/properties/ck-gold-project/2020-drilling

Assumptions: Grades reported represent contained metal as assayed. The calculation of equivalent gold grade assumes the spot prices for gold, silver and copper as quoted at Kitco.com on December 10, 2020. Future press releases will utilize these same metal prices for all gold-equivalent value calculations.

George Bee, President and CEO of U.S. Gold Corp. stated, "We are presently on track to complete the CK Gold Project Pre-Feasibility Study (PFS) by mid-year. By design, we have gone well beyond what would normally be necessary for a PFS so that we can move on to evaluate the project at the Feasibility Study (FS) level by the end of the year, having gathered any supplemental data necessary from the project site during the 2020 summer field season. Project environmental baseline monitoring continues, having started last September with the objective of being in a position to submit a permit application to the State of Wyoming once a development decision has been made post FS evaluation. While a development decision is contingent on many factors, we are encouraged by what we have seen."