US Gold Corp.

Beyond CK Gold: Could Exploration Re-Rate the Story?

U.S. Gold Corp. $USAU (NASDAQ) completed a 325-line km drone survey at its CK Gold Project in Wyoming — finding gold-copper targets beyond the current mine plan.

March 2026 FS: $632M after-tax NPV, 27% IRR @ $3,250/oz gold

Fully permitted, construction-ready

80% of drill holes still open + 2,900 ft untested

The $632M NPV may be a floor, not a ceiling.

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Beyond CK Gold: US Gold Corp's Exploration Could Re-Rate the Story - Article | Crux Investor U.S. Gold Corp's new drone survey at CK Gold found gold-copper targets beyond the current mine plan, raising the question of whether a larger district-scale story is forming.

At The Mining Investment Event Luke Norman, Chairman and Co-Founder of U.S. Gold Corp. (NASDAQ: USAU), outlines the company's strategy to advance the fully permitted CK Gold Project in Wyoming while unlocking additional value through its highly prospective Keystone exploration asset in Nevada.

U.S. Gold has transformed CK Gold from an early-stage resource into a shovel-ready development project with a completed feasibility study, 1.6 million ounces in proven and probable reserves, and significant additional resource upside. Located near Cheyenne, Wyoming, the project benefits from exceptional infrastructure, a mining-friendly jurisdiction, and direct access to skilled labor and transportation networks.

Watch Now - https://youtu.be/HdK4i0iRNVI

America's Next Gold Giant At THE Mining Investment Event, Luke Norman, Chairman and Co-Founde...

U.S. Gold Corp. CK Gold project reported an after-tax net present value of US$632 million and an internal rate of return of 27% at a base case gold price of US$3,250 per ounce, while remaining net present value positive at US$2,000 per ounce. With its major permits secured and access road construction underway, CK Gold's remaining catalysts are financing-related rather than regulatory.

https://www.cruxinvestor.com/posts/indias-gold-import-duty-hike-cuts-demand-50-60-tonnes-shifts-investor-focus-to-project-execution

Luke Norman, Chairman of U.S. Gold Corp. discusses the financing options for CK Gold: https://www.cruxinvestor.com/posts/us-gold-corp-nasdaqusau-fully-permitted-fs-imminent-2027-28-target-9430

"The permits that are awarded to us are not reversible or revocable, we're ready to go, and we have seen indicative term sheets of as high as 80% debt with 20% equity, with equity showing at premiums to market."

Crux Investor

U.S Gold Corp Chairman Luke Norman presents at the virtual to discuss $USAU To watch the replay: https://youtu.be/Je-dhYYmsbA

U.S. Gold Corp. (NASDAQ: USAU) U.S. Gold Corp. (NASDAQ: USAU) is a publicly traded, U.S. focused g...

US Gold Corp CK Gold 2026 Feasibility Study: 7 Things You Need to Know

US Gold Corp CK Gold 2026 Feasibility Study: 7 Things You Need to Know - Article | Crux Investor US Gold Corp's March 2026 CK Gold Feasibility Study returns a $632M after-tax NPV & 27% IRR at $3,250 gold, fully permitted, construction initiated, with aggregate upside not in the model.

U.S. Gold Corp. ("U.S. Gold," the "Company," "we," "our" or "us") (Nasdaq: USAU) is pleased to announce that the Company recently completed an updated and enlarged geo-magnetic survey conducted by Zonge International, Inc. ("Zonge"), Reno, Nevada. The project included data acquisition via drone mounted magnetometer and covered 325-line km coverage at an average 32m drape over the CK Gold Project ("CK Gold").

Read More - https://www.usgoldcorp.com/news-media/press-releases/detail/250/u-s-gold-corp-advances-exploration-activities-at-its-ck

Mr. George Bee, President and CEO added,

"With the initial CK Gold Project Feasibility Study now published and our fully permitted project moving to development, we can now turn attention to both the potential to expand the pit into known mineralization through conversion of our resources into reserves, and to explore into areas of former mining of high-grade ore conducted by the original developers of the Silver Crown Mining District".

U.S. Gold Corp. ("U.S. Gold," the "Company," "we," "our" or "us") (Nasdaq: USAU) is pleased to announce that the Company recently completed an updated and enlarged geo-magnetic survey conducted by Zonge International, Inc. ("Zonge"), Reno, Nevada. The project included data acquisition via drone mounted magnetometer and covered 325-line km coverage at an average 32m drape over the CK Gold Project ("CK Gold").

$USAU recognizes that copper and gold mineralization extends beyond the current drilling. A mineral resource drilling program is being developed to test mineralization at depth below the existing pit shell as well as new targets identified through the current geophysical program outside of the proposed pit footprint.

Read More - https://www.usgoldcorp.com/news-media/press-releases/detail/250/u-s-gold-corp-advances-exploration-activities-at-its-ck

U.S. Gold Corp. (NASDAQ: USAU) and its CK Gold Project in southeast Wyoming illustrate how these principles play out in practice. The project sits on State of Wyoming land with no federal government involvement and does not affect any federally managed waterways. By early 2026, the company had obtained all major permits, including a Mine Operating Permit, a water discharge permit, an air quality permit, and an Industrial Siting Permit renewed through June 2027, with access road construction beginning in January 2026.

That record was built on more than 200 meetings with over 300 people and organisations, from the state governor to local landowners, alongside a water use agreement with the City of Cheyenne. Royalties from the state mineral lease are directed toward Wyoming's education funding, giving the state a direct financial stake in the project's progress

Read More - https://www.cruxinvestor.com/posts/where-you-build-matters-how-location-and-trust-are-becoming-a-junior-miners-most-valuable-assets

U.S. Gold Corp. (NASDAQ: USAU) released its March 2026 feasibility study, completed by Halyard Micon International under Subpart 1300 of Regulation S-K (SK-1300). At a $3,250-per-ounce gold base case, the study yields an after-tax net present value (NPV) of $632 million, an after-tax internal rate of return (IRR) of 27%, and a 2.5-year payback period. At $4,500 per ounce gold, the after-tax NPV rises to $1.155 billion and the IRR to 42%, with payback shortening to 1.6 years.

Chairman of US Gold Corp, Luke Norman, addressed the valuation gap directly:

"We're trading at just around a third of our NPV and just under 30% IRR; very robust economics."

The process design is a conventional open-pit mining operation using truck-and-shovel methods in an 86-acre surface pit, processing 20,000 tonnes per day through crushing, grinding, and flotation to produce a gold-copper concentrate for off-site smelting. All-in sustaining cost (AISC) is $1,785 per gold equivalent ounce on a co-product basis, or $1,094 per ounce of gold net of copper, silver, and aggregate by-products. Life-of-mine (LOM) total net free cash flow (FCF), after capital investment and closure costs of $27 million, is estimated at $967 million.

Read More - Crux Investor

https://www.cruxinvestor.com/posts/us-gold-corp-ck-gold-project-delivers-632-million-after-tax-npv

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US Gold Corp: CK Gold Project Delivers $632 Million After-Tax NPV - Article | Crux Investor U.S. Gold Corp's CK Gold Project returns $632M after-tax NPV and 27% IRR in its March 2026 feasibility study. Fully permitted in Wyoming with financing underway.

Mr. Luke Norman of Wyoming U.S. focused gold copper project developer

U.S. Gold Corp. updates on work at the CK gold copper project. Luke talks background, feasibility study for the CK project, permitting completed, early works, construction financing, overall schedule, expansion potential, water reclamation, pipeline at Keystone project Nevada, capital structure, and more.

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https://youtu.be/LM631gRwKJk

Focused gold copper project developer U.S. Gold updates on work at the CK gold copper project Mr. Luke Norman of Wyoming U.S. focused gold copper project develop...