#United States #U.S. Gold Corp #Wyoming #CK Gold Project #Cheyenne

U.S. Gold Corp.: Advancing with $10.2 Million Non-Brokered Registered Direct Offering

U.S. Gold Corp., a prominent name in the mining industry focusing on gold and copper exploration, has made headlines with its recent financial moves. The company has successfully completed a non-brokered registered direct offering that raised approximately $10.2 million by selling 1,457,700 shares at a price of $7.00 each, along with warrants to purchase 728,850 additional shares at $9.50. This transaction closed on December 6, 2024, and marks a significant step in funding the development of the CK Gold Project located in Southeast Wyoming.

Following this successful offering, U.S. Gold Corp. has a total of 12,323,116 shares of common stock outstanding. What makes this offering notable is that the company did not employ a placement agent, opting instead to work directly with various entities to raise awareness about its activities, particularly the CK Gold Project. The project recently secured its Air Quality Permit from the Wyoming Department of Environmental Quality – Air Quality Division, facilitating its progression towards development.

Recognizing the vital role of Canadian investors in resource sectors, U.S. Gold Corp. has made efforts to engage with key figures from Canada's investment community. This includes hosting site visits for senior analysts from reputable firms such as Paradigm Consulting Group and Haywood Securities, demonstrating the company’s commitment to enhancing its visibility among potential investors. Previous engagements with U.S.-based analysts have also strengthened its funding capabilities, with firms like Alliance Global Partners and H.C. Wainwright providing coverage of the company's activities.

U.S. Gold's investor base has expanded to include notable Canadian resource sector figures such as Eric Sprott. The interest from such investors signifies a vote of confidence in the CK Gold Project, which is poised to meet the increasing global demand for gold and copper production due to its fully permitted status and strong exploration portfolio.

Looking ahead, U.S. Gold Corp. aims to utilize the proceeds from this transaction to propel the CK Gold Project toward several key milestones. In early 2025, the company plans to publish an updated Prefeasibility Study, followed by a final Feasibility Study that will assess the optimal flotation technology for the project. Moreover, the company is actively exploring development financing options with interested parties as it continues to progress.

The timeline for development could see groundbreaking work commencing as early as the end of 2025, contingent upon achieving suitable financing. During this time, U.S. Gold Corp. will also continue to utilize low-cost exploration methods on its other assets, including Keystone Gold in Nevada and Challis Gold in Idaho, while searching for separate funding avenues.

Chairman Luke Norman expressed the company's enthusiasm over the continued support from long-term investors, emphasizing the importance of this collaboration in capturing investment opportunities. CEO George Bee further highlighted the project’s streamlined approach, which positions U.S. Gold Corp. as a low-risk venture in a stable jurisdiction, aiming to unlock significant value as it advances.

In conclusion, U.S. Gold Corp. stands poised for a promising trajectory, bolstered by strategic financing, international investor interest, and a robust exploration portfolio as it works towards substantial advancements in the CK Gold Project.