CK Gold Project Feasibility Study and Execution Plan Progress

U.S. Gold Corp. Awards Next Phase of CK Project Development Studies to Micon International and Halyard

CHEYENNE, Wyo., June 24, 2025 /PRNewswire/ -- U.S. Gold Corp. ("U.S. Gold," the "Company," "we," "our" or "us") (Nasdaq: USAU) is pleased to announce that the Company has contracted Micon International Limited and Halyard Inc. (together, "Micon-Halyard") to conduct the next phase of engineering leading to the development of the Company's wholly owned CK Gold Project situated in southeast Wyoming, U.S.A. This announcement follows an in-depth comparison of proposals from selected firms focusing on concentrator process experience and "right-sizing" the ongoing effort to bring the CK Gold Project into production on time and on budget.

In February 2025, U.S. Gold published an updated prefeasibility study by Samuel Engineering Inc. Subsequently, trade-off studies between proposed flotation technologies and tailing filtration equipment options were concluded and with this information, feasibility study designs can now be completed. The emphasis will be to develop a site-specific AACE (Association for Advancement of Cost Engineering) Class 3 estimate for project development, along with an execution plan aimed at assuring project delivery that meets expectations. The Company expects the feasibility study to be completed by late 2025.

Samuel Engineering brought local expertise and outstanding levels of cooperation to advance the CK Gold Project to prefeasibility. Micon-Halyard brings a team with deep experience in process design and project execution with a strong focus on mining and mineral process plant development.

About Micon-Halyard
Micon International Limited has combined with Halyard Inc., a provider of professional services in Mineral Processing & Project Delivery. The combination of the two companies allows the group to offer continuity throughout the entire project spectrum and draw upon an expanded range of expertise, while continuing to offer the same level of personal and technical attention to project excellence that clients have come to expect from both teams.

With over 30 years of operation, Micon-Halyard has completed more than 762 projects and generated 1260 technical reports. It is trusted as a global leader within the industry for expertise.

About USAU
U.S. Gold Corp. is a publicly traded, U.S. focused gold and copper exploration and development company. U.S. Gold Corp. has a portfolio of exploration properties. Our CK Gold Project is located in Southeast Wyoming and has a Preliminary Feasibility Study technical report, which was completed by Samuel Engineering Inc. Our Keystone exploration property is on the Cortez Trend in Nevada. Our Challis Gold Project is located in Idaho. For more information about U.S. Gold Corp., please https://www.usgoldcorp.com/.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release are forward-looking within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "proposed," "aims," "anticipates", "forecast," "estimated," "believes," "continues" and "intend," among others. These forward-looking statements include statements related to the timing and costs for the development of the CK Gold Project and the expected timing for the completion of a feasibility study. 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 further information
U.S. Gold Corp.
Investor Relations
+1 800 557 4550
[email protected]
www.usgoldcorp.com

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SOURCE U.S. Gold Corp.