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

Overview of the CK Gold Project

U.S. Gold Corp., traded under NASDAQ as USAU, proudly announces the results of its latest pre-feasibility study (PFS) for the CK Gold Project located in Wyoming. This updated study reflects the advancements and permits achieved, showcasing the project's robust economic viability. Directors are now contemplating moving forward toward a comprehensive feasibility study (FS).

Economic Highlights of the PFS

The PFS incorporates provisions from permitting activities and enhancements in engineering studies, leading to increased reserves and resources. Key results include:

• - Production Forecast: The project anticipates an average gold equivalent (AuEq) production of approximately 1,112,000 AuEq ounces across its 10-year lifespan, with a significant average annual production of 111,250 AuEq ounces.
• - Resource Evaluation: The study estimates total production to comprise around 679,548 ounces of gold, 208.3 million pounds of copper, and 2.04 million ounces of silver.
• - Financial Metrics:

- The project holds a base case Net Present Value (NPV) of $459 million (pre-tax) at a discounted rate of 5%.
- The Internal Rate of Return (IRR) stands at an impressive 36.0%, showcasing a quick payback of 1.7 years based on set commodity prices of $2,100 per ounce for gold, $4.10 for copper, and $27 for silver.

• - Cost Efficiency: The all-in sustaining cost (AISC) is projected at $937 per AuEq ounce, indicating an economical mining operation.

Capital and Production Costs

Initial capital investments necessary for the project are currently estimated at $277 million. This investment outlines a return on investment strategy and supports the anticipated output, as development focuses on producing high-grade concentrates efficiently. Notably, a detailed analysis of operating statistics reveals a solid economic foundation for the project moving ahead, including:

• - Mineral Reserves of 1.672 million AuEq ounces supporting an operational timeline of eight years.
• - Exploration potential remains, with possibilities of extending the deposit further, both in-depth and towards the southeast.

Strategic Development Outlook

As the company gears up for sustained development, the groundwork for completing the FS is already in progress, with anticipation for completion by late 2025. New initiatives in exploration may enhance existing resource estimates, and there is a strategic plan to optimize costs by incorporating local economies and potentially using mine waste for aggregate production.

U.S. Gold Corp. emphasizes its dedication to obtaining project financing through arrangements that minimize shareholder dilution. Development at the CK Gold site is on track, with the company pivoting toward fulfilling its development stages while planning to return to exploration of its promising portfolio.

In conclusion, the updated PFS results bolster confidence in the CK Gold Project's lucrative potential, positioning U.S. Gold Corp. firmly on the trajectory toward successful mining operations in Wyoming.

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For further insights, please visit the official U.S. Gold Corp website or join their upcoming webinar to delve deeper into the findings and future plans of this promising venture.