Company Showcases Strong Advancements towards
its CK Gold Project and Growth Prospects to Investors
CHEYENNE, Wyo.,
Sept. 27,
2023 /PRNewswire/ -- U.S. Gold Corp. ("U.S.
Gold," the "Company," "we," "our" or "us") (Nasdaq: USAU), is
pleased to announce the successful conclusion of a series of
investor conferences held throughout the month of September.
Additionally, the Company is providing the following link to its
presentation at the 2023 Precious Metals Conference (Beaver Creek, CO).
To view US Gold's presentation please access the following
link:
2023 Precious Metals Conference: Click here.
During the two-week period, U.S. Gold's management met with over
80 entities including operating mining companies, project
financiers (private equity/debt and banking institutions),
concentrate marketers, royalty and streaming companies, family
office investors, and specialists within the industry.
"These past few weeks have been extremely productive and
couldn't have come at a better time as we progress along the
development path at our CK Gold Project. We were excited to discuss
the advancements we made since these conferences one year ago.
Having been granted our Industrial Siting Permit in May of this
year and with continued progress of our Mine Operating Permit and
Mine Closure Plan permit, we have garnered significant interest
from potential project financiers. With the expectation of
receiving the Mine Permit in mid-2024, we anticipate releasing our
Feasibility Study around that time to secure the necessary project
financing. While we are essentially ready to proceed with our
feasibility study, we want to ensure that major capital elements
are current in the estimate. The Prefeasibility Study, dated
December 1, 2021, demonstrated robust
economics for the CK Gold Project and we anticipate that the margin
will be preserved. Cost pressures due to inflation are expected to
be offset by stronger metal prices. The Project's economics, with a
very low strip ratio and access to some of our highest-grade
mineralization in the first few years, make it extremely amenable
to debt capital. There are several project debt alternatives that
we are investigating from project debt lenders, potential financing
from the original equipment manufacturers (OEMs) who would
be sourcing the necessary plant equipment, sales of early
production via off-take agreements and potential State of Wyoming financing. The anticipated
goal for financing the Project would be to secure the majority of
the needed capital through long-term/low-interest cost of capital
debt financing with minimal equity to reduce potential dilution to
our current shareholders," said Eric
Alexander, Chief Financial Officer of U.S. Gold.
About U.S. Gold Corp.
U.S. Gold Corp. is a publicly traded, U.S. focused gold
exploration and development company. U.S. Gold Corp. has a
portfolio of exploration properties. The CK Gold Project is located
in Southeast Wyoming and has a
Preliminary Feasibility Study technical report, which was completed
by Gustavson Associates, LLC. The Keystone exploration property is
on the Cortez Trend in Nevada. The
Challis Gold Project is located in Idaho. For more information about U.S. Gold
Corp., please https://www.usgoldcorp.gold/.
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 CK Gold Project, including (i) the expected timing and
receipt of the Mine Permit; (ii) the expected timing and release of
the Feasibility Study on the project; (iii) the ability to maintain
the anticipated margins based on the Prefeasability Study dated
December 1, 2021; (iv) the offset of
cost pressures from inflation on the project by stronger
anticipated metal prices; (v) financing from OEMs; (vi) sales of
early production via off-take agreements and (vii) our ability to
secure potential financing, including from the State of Wyoming. There are a number of
factors that could cause actual events to differ materially from
those indicated by such forward-looking statements. These factors
include, but are not limited to, risks arising from: market and
other conditions; the prevailing market conditions for metal prices
and mining industry cost inputs; environmental and regulatory
risks; COVID-19 risks; changes in interpretations of geological,
geostatistical, metallurgical, mining or processing information;
risks faced by junior companies generally engaged in exploration
activities; whether U.S. Gold will be able to raise sufficient
capital to develop the CK Gold Project and implement future
drilling programs; the success or failure of future drilling
programs; and other factors described in the Company's most recent
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and
Current Reports on Form 8-K filed with the Securities and Exchange
Commission, which can be reviewed at www.sec.gov. 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
ir@usgoldcorp.gold
www.usgoldcorp.gold
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SOURCE US Gold Corp.