U.S. GOLD CORP. DELIVERS ROBUST FEASIBILITY STUDY FOR CK GOLD PROJECT HIGHLIGHTING ATTRACTIVE ECONOMICS AND DETAILING RELATIVE LOW DEVELOPMENT RISK
U.S. GOLD CORP. DELIVERS ROBUST FEASIBILITY STUDY FOR CK GOLD PROJECT HIGHLIGHTING ATTRACTIVE ECONOMICS AND DETAILING RELATIVE LOW DEVELOPMENT RISK |
| [31-March-2026] |
CHEYENNE, Wyo., March 31, 2026 /PRNewswire/ -- U.S. Gold Corp. ("US Gold" or the "Company") (NASDAQ: USAU) is pleased to announce the results of its Feasibility Study (the "FS") for the development of its wholly-owned CK Gold Project ("CK" or the "Project"), located in southeast Wyoming 20-mile from Cheyenne. U.S. Gold Commentary on 2026 CK Gold Project Feasibility Study Highlights:
George Bee, President, CEO and Director of US Gold commented: "The Feasibility Study is the culmination of 5-years of work to engineer and permit a U.S. domestic project ready for immediate development. CK is one of the most compelling, resilient, and capital-efficient copper-gold-silver projects in the U.S. ready for development. The FS outlines a technically simple, low risk, phased development with outstanding economics, including a rapid 2.5-year payback, strong early free cash flow profile, and a relatively modest capex and reasonable NPV-to-capex ratio. Importantly, the FS is delivered with all permits in hand at an opportune time. While the FS reflects an 11-year plan followed by closure, it represents only the beginning for CK. The Project also hosts a considerable mineral resource beyond the current mine, offering expansion opportunities that remain open, and a multi-decade opportunity to provide rock aggregate to the local market and beyond. The feasibility-level engineering, metallurgy, and capital and operating costing have been conducted with a view to continuing into a smooth transition to detailed engineering and Project execution once Project financing is secured. With permits already in place, delivery of the FS allows interested parties to assess the Project from a number of avenues for Project financing including debt, equity, off-take and other vehicles to secure the initial capital. With a manageable capex quantum, relatively low execution risk, advancing CK provides the Company with the ability to generate long-term value for our shareholders, the State or Wyoming, and the communities in the vicinity of the Project. CK is expected to support an average workforce of approximately 198 direct high-quality, long-term jobs over the life-of-mine and beyond. We look forward to providing further updates as the Project progresses with financing and construction in 2026." US Gold will host a conference call and webcast to discuss the FS on Wednesday, April 1, 2026 at 4:00 PM Eastern Time / 1:00 PM Pacific Time, featuring a presentation from the senior management team and a live Q&A session. A recording will be available on US Gold's corporate website. To register for the webcast, please use the following link (call details are listed below): US Gold Feasibility Study Webcast Feasibility Study Summary The FS confirms robust economics for a low-cost, large-scale, conventional open pit feeding a simple copper-gold concentrator process plant, with competitive operating costs and high rate of return. The FS outlines total production of: 931 koz AuEq over an 11-year operating mine life (followed by two years of closure), resulting in an average LOM annual production profile of 85 koz AuEq per annum at an AISC of $1785/oz AuEq. The Project generates an after-tax NPV5% of $632 M with an after-tax IRR of 27% at base case gold, copper and silver prices of $3,250/oz, $4.50/lb and $40/oz, respectively. The Company retained Halyard-Micon International, Inc. ("Halyard") as lead engineer, along with other engineering consultants, to complete the FS and prepare a technical report summary in accordance with U.S. Securities and Exchange Commission's Regulation S-K, Subpart 1300 disclosure requirements for registrants with material mining operations ("S-K 1300"). The FS is derived from updated mineral resource estimate effective December 12, 2025. The effective date of the FS is March 30, 2026, and a technical report summary prepared in accordance with S-K 1300 will be available on the Company's website and will be filed with the Company's next Annual Report on Form 10-K to be filed with the U.S. Securities and Exchange Commission. CK Feasibility Study Highlights1
CK Gold Project Production and Operating Cost Profile1,2
CK Gold Project After-tax Cash Flow Profile (base case)1,2
CK Gold Project After-Tax NPV, IRR and Payback Sensitivity Table
Property Description, Location and Access The Project, within the historic Silver Crown mining district, is located within southeastern Wyoming in Laramie County approximately 20 miles west of Cheyenne, Wyoming's state capital. The Project is two miles off the paved Happy Jack state road and situated near U.S. Interstates 80 and 25, a 1.5 hour drive from Denver. The Project is accessed via 4.5-miles of private road east from Laramie County Road 210. CK Gold Project Location Map
Mineral Resource Estimate The current mineral resource estimate for gold, copper, and silver at the Project was previously disclosed in the S-K 1300 Technical Report Summary for the Project, dated February 10, 2025, which was filed on a Form 8-K dated February 14, 2025. The supporting drillhole database incorporates data from all US Gold drilling programs, comprising 59 drillholes totaling 60,132 ft, as well as drilling completed by previous operators. US Gold drilling spans four programs: two holes totaling 2,030 ft in 2017; eight holes totaling 8,090 ft in 2018; 25 holes totaling 20,449 ft in 2020; and 24 holes totaling 29,562 ft in 2021. For the current FS, Mark Shutty, CPG, MAIG, utilized Leapfrog Geo/Edge software (version 2024.1) to construct and update the geological models of the CK deposit. The constraining pit shell and in-pit resource reporting were completed using MinePlan (version 16.5), incorporating updated metal prices, operating cost parameters, and metallurgical recovery assumptions, with the underlying geological and grade model otherwise unchanged from the prior estimate. The mineral resource estimate was developed using the following standard procedures:
Beginning in 2020, US Gold facilitated the relogging of all available legacy drill core to ensure consistent interpretation of rock types across the 2020 and 2021 drilling programs. US Gold's geologic datasets were used to evaluate samples and construct three-dimensional geological models in Leapfrog Geo. The primary lithologic model includes Proterozoic granodiorite with varying intensities of potassic alteration and mylonitic fabrics. Mafic dikes, younger pegmatites, and undifferentiated veins represent smaller volumes within the mineralized granodiorite domain. Mafic dike bodies were constructed in Leapfrog Geo as discrete volumes; pegmatites and veins were not modeled separately and were assigned the host rock type, as drilling density is insufficient to model either as throughgoing features. Unmineralized domains were also modeled, including a metasediment unit east of the Copper King Fault and overlying Quaternary cover. Metallurgical testing of mineralized rock indicates that sulfide recovery is a function of oxidation state. During core logging, geologists visually estimated the oxidation state and categorized it as either oxide, mixed, or sulfide. The oxidation boundary contacts were modeled in Leapfrog Geo to encompass logged oxidation intervals and modeled structures, resulting in a series of surfaces used to code the block model. Raw gold, copper, and silver assays were evaluated within the resource drillhole database with histogram and probability plots to identify statistical outliers. These data are generally reflective of a single sample population with few outliers. Outliers were examined to ensure they were not the result of a database transcription error and were geologically reasonable; the location of high-grade samples with respect to nearby samples, lithology, and oxidation was reviewed ahead of establishing capping thresholds, which generally occur at distribution changes noted in the individual metal probability plots. Au is capped at 0.32 oz/t, Cu is capped at 3.0 % and Ag is capped at 0.58 oz/t resulting in a metal reduction of 0.28%, 0.36% and 1.54% respectively. Section showing blocks >0.2 g/t (>0.006 oz/t) AuEq with Nested Resource and Reserve Pit
Mineral Resources Statement - Inclusive of Reserves
Mineral Resources Statement - Exclusive of Reserves
Mineral Reserve Estimate As part of the 2021 Preliminary Feasibility Study study, an economic pit-limit analysis was performed using Vulcan's Pit Optimizer software, which uses the Lerchs–Grossmann algorithm to determine an economic excavation limit. The pit optimization process considered only M+I resources; inferred resources were excluded from the economic evaluation in accordance with NI–43–101 guidance. Metal prices applied in the 2021 optimization were based on a weighted long–term forecast incorporating a three–year trailing average. The economic excavation limit (pit shell) generated from the 2021 optimization was used to guide the development of the 2024 Preliminary Feasibility Study final pit design. The 2024 Preliminary Feasibility Study design subsequently served as the foundation for the 2026 Feasibility Study pit design. The 2021 pit optimization was revalidated through an additional optimization run completed using updated 2026 cost parameters reflecting current-year economic conditions. This supplementary analysis confirms continuity and provides a robust basis for the 2026 Feasibility Study pit design. The updated optimization demonstrates strong economic performance that exceeds the results of the 2021 pit shell used to guide the 2026 Feasibility Study design. Ultimate pit limits remain primarily constrained by the available onsite waste storage capacity. The final pit design establishes the physical boundary for the conversion of mineral resources to mineral reserves. M+I resources located within the final pit limits may be converted to mineral reserves, subject to applicable modifying factors, including resource classification and cut–off grade criteria. Additional details regarding the mine design are provided in Section 13 of the TSR. The value per ton ("VPT") "milling cut-off value" calculation for all areas was completed as follows:
This calculation is sometimes called the "milling cut-off value" because the mining cost is not considered. The mining cut-off uses a similar calculation but includes the mining cost. The mining cut-off is used to determine the boundary of an economic pit shell, and the milling cut-off has been used in this case to determine the reserves contained within that same shell. For the reserves, the block was considered mill feed if the VPT was equal to or greater than a value of $0.00/st. If the value was less than this, the block was considered waste. The VPT calculation was carried out with more up-to-date input parameters that were updated as part of the 2026 Feasibility Study. The parameters used for the VPT calculation are presented below.
The block model used for mineral reserve estimation employs a block size of 20 ft × 20 ft × 30 ft. This block dimension is comparable to, or larger than, the selective mining unit achievable with the planned loading equipment (CAT 992 or similar). As a result, no dilution is expected to arise from discrepancies between block model dimensions and operational mining selectivity. Mineralization is disseminated, with grades transitioning gradually across the orebody. While some dilution will occur during mining, the majority of adjacent material exhibits grades like the ore being extracted. In these cases, dilution is considered negligible. Material dilution of significance is expected only at contacts between ore blocks and adjacent blocks with materially lower grades. For the purposes of reserve estimation, blocks with a value per ton more than US$3/st below the ore/waste cut–off value are classified as diluting blocks. Ore loss is expected to occur in areas with isolated ore blocks. In operations these areas are often reclassified as waste to guarantee productivity. The CK Au mineralization does not have many of these isolated ore blocks. A bench–by–bench inventory identified that only 0.15% of blocks can be classified as isolated. All isolated blocks were found to be low–grade ore, and therefore separate ore–loss factors were developed for low–grade and high–grade ore, consistent with the approach used for dilution estimation. Ore loss considered for low–grade and high–grade ores are 2% and 0.5% respectively In addition to the ore loss associated with isolated blocks, an allowance was included to account for operational inefficiencies and human error. CK Au mineral reserves are given in Table 12.5. Mohsin Hashmi P.Eng, is the QP responsible for the mineral reserves statement. Mineral reserves are reported inside a detailed pit design using suitable parameters for the site, which was guided by the 2021 pit optimization.
Production Profile The contemplated operation in the FS spans 11 years, comprising one year of construction (Year -1), 9 years of active mining and gold-copper-silver processing operations, and two years of low-grade processing from stockpile. The first three months of the production period focuses on establishing "bedding-down" the plant with lower grade material followed by the remainder of the McNulty ramp up to full name plate plant production at 20,000 short tons per day. Mining will advance ahead of plant feed rates so that lower grade ore can be accumulated in an ore stockpile and better grade preferentially processed to improve early revenue. Under the current plan, mining will cease and the accumulated low-grade stockpile will be processed until the stockpile is depleted. Tailings will be used to partially backfill the exhausted open pit as part of the closure plan. While this scenario forms the currently permitted activity, it is fully anticipated that the open pit will continue under a permit update and revision, allowing the remaining resource and potential future expansions to the resource to be mined, extending the mine life. Once in production, drilling and further resource definition is contemplated, allowing the mine expansion to be engineered and permits to be sought to realize the full potential of the resource. These activities can commence as soon as year one and there will be approximately 6 years to complete the work to extend the mine life to the next economic limit. CK Gold Project Production Breakdown by Year
CK Gold Project Revenue Breakdown by Metal
Mining Mining is contemplated as a conventional open-pit operation using truck-and-shovel methods, focused on delivering higher grade AuEq production from the deposit early in the Project using a stockpiling strategy, before transitioning to complete the processing of the low-grade ore accumulated. The mine plan schedules 163 million tons ("Mt") of total material movement including rehandle of low-grade stockpile and waste for Tailings Management Facility (TMF) capping over the 13-year active mine life. Ex pit ore totals 74.527 Mt of ore with an average grade of 0.014 opt Au, 0.17% Cu, and 0.41 opt Ag, for a combined 1.015 Moz of contained gold, 260 million lbs ("Mlb") of contained copper, and 3 Moz of contained silver. Strip ratios average 0.89:1 over the LOM, supporting efficient mining and strong early cash flows. Mining rates of ore are planned for 20,000 tons per day ("tpd") with no more than 12 benches extracted per year. Material movement is sequenced in four internal open pit phases allowing early presentation of better grade material in association with the stockpile strategy. The phased approach allows time for adjustments to be made for the final pit wall for both final geotechnical slope angles as well as formulation of pit expansions to recover the remaining resource and any additional resources added to the current inventory. Mining assumptions are developed from first principles, including drill penetration rates, powder factors, cycle times, equipment availabilities, and original equipment manufacturer validated haulage models. The fleet includes up to 18 haul trucks and a matched loading fleet of excavators and shovels sized to maintain efficient dig-and-haul cycles. Waste placement and backfilling strategies minimize external dump requirements and align with closure objectives. Overall, the mining plan reflects an executable, low-risk approach that supports strong economics, operational flexibility, and a smooth transition into reclamation activities in the later years of the Project. CK Gold Project Mining Profile
Processing and Recovery Project mineralization is amenable to simple froth flotation. The Project has completed extensive metallurgical testing and the circuit consists of primary crushing, semi-autogenous and ball mill grinding to p80 90 microns, followed by initial rougher flotation. The company tested and adopted Jameson cell flotation technology which improved metal recovery and results in a smaller plant footprint when compared to conventional flotation. The rougher/scavenger concentrate will be reground to p80 25 microns before cleaner flotation in smaller Jameson cell units. Concentrate will be filter pressed and shipped to a smelter for metal extraction while the tailings will be filtered and stacked in a tailings management facility, employing mine waste to buttress and cap the tailings prior to reclamation. The tailings management facility will require approximately half of the mine waste to stabilize and cap the tailings prior to reclamation, leaving 35 million tons of waste in waste rock storage facilities. Some of the waste rock will be crushed and used for start-up and ongoing construction activities on site. The remaining waste has been aggregate quality tested and found to be an excellent source of rock aggregate and rail ballast. It is anticipated that up to 1 million tons of waste rock can be sold annually to the surrounding market once the mine is in operation and continuing during the reclamation period. CK Gold Project Annual Concentrate Production Schedule
CK Gold Project Processing Summary
Power and Infrastructure The Project sits twenty miles to the west of Cheyenne and is surrounded by facilities and services that will service the mine site. Cheyenne, the State capital, has a population of around 100,000 and offers a competitive place to live and work for labor and management. With Gillette, WY 4-hours to the north, Salt Lake City, UT 6-hours to the west and Denver, CO 1.5-hours to the south, all of these centers host mine suppliers and expertise to support the Project. There is no need for a man-camp, extensive offices or warehouses and easy access to third party service and maintenance facilities from these mining hubs. General Facilities Arrangement
The Project will require up to approximately 30 megawatts ("MW") of power to be supplied to the site by Black Hills Energy along a 115 ("kV") transmission line and distributed throughout the site via a new substation and 13.8 kV power distribution network. A 1 MW backup generator is planned to be installed for back-up or emergency power. The power line extending to the Project will be built by Black Hills Energy and the cost amortized as a minimum demand charge along with the consumption charges. Water will be supplied to the mine under contract from the Cheyenne Board of Public Utilities. A line will bring water from the Crystal reservoir operated by the Cheyenne Board of Public Utilities and charged at published city raw water rate plus a 1.5-times surcharge. The water balance is such that make-up water will be purchased throughout the mine's life, water harvested on site will offset some of those costs. On-site facilities are limited to those which are necessary for light equipment repair, basic warehousing, concentrate dispatch, weigh bridge and site supervision. A semi-permanent truck shelter-workshop has been planned on a concrete pad service area that includes power, water, truck wash and fuel island. The administration personnel at site will be minimal since the Project is 20-miles from the city of Cheyenne where there is ample office space for rent. The 4.5-mile access road from County Road 210 will be a gravel road with access control. The local fire and emergency service is 6-miles from site and the Cheyenne Regional Medical Center is 25-miles away. Assay prep lab will be on site for blasthole sample preparation and a Cheyenne-based lab will provide full lab services. Environmental laboratory work will be sent off-site and a small on-site facility situated in the plant for process control. Operating Costs Mine operating costs were estimated through first principles and supplier quotes. Where possible, first principal assumptions and costs of units were traded off to one of seven mine bidders for all material movement and earthworks. This was calculated using estimated hourly costs of equipment and personnel against the anticipated hours of work for each. The equipment hourly costs were estimated for fuel, oil and lubrication, tires, under-carriage, repair and maintenance costs, and special wear items. First principal assumptions and the cost of mine personnel and consumables were benchmarked against costs provided by mining contractors. The superior contractor budget estimate was selected. Process operating costs were developed by Halyard from first principles to determine unit consumptions of materials, supplies, power and personnel, and the estimated cost of unit for these was estimated from supplier quotes and industry benchmarks. The cost of materials, supplies, power and labor were benchmarked against industry norms in the area. Labor G&A costs were estimated based on personnel requirements for administrative, accounting, safety and security, and environmental departments to support mining and processing activities. Costs are also included for legal, land, permit bonding and power. G&A costs were benchmarked against norms in the Cheyenne area. CK Gold Project Operating Cost Breakdown (Excluding Aggregate Production)
Project Royalties As a condition of our state mineral leases with the Wyoming Office of State Lands and Investment, revenue from the sale of concentrate at the gate is subject to an NSR royalty of 2.1%. Capital Cost Estimates Capital cost estimates emphasize constructability, vendor-supported pricing, and execution sequencing aligned with the planned development schedule. Mining initial and sustaining capital estimates were prepared by Halyard. Estimates assume owner-operated mining equipment and are based on the equipment and facilities required to achieve the production schedule. Capital costs are based on estimation guides, quotations from equipment vendors and recent quoted costs for new equipment. The process and infrastructure capital costs were developed by Halyard and Tierra Group International for initial and sustaining capital. The capital costs for each phase are comprised of direct costs and indirect costs. The direct costs were developed from labor, materials, plant equipment, sub-contracts, and construction equipment. Indirect costs were applied to the direct costs to account for items, such as, construction support, engineering, procurement and construction management, vendor support during specialty construction and commissioning, spare parts, contingency, owner's costs, freight and taxes. Capital costs were estimated based on 2026 U.S. dollars and are presented with no escalation. CK Gold Project Capital Cost Breakdown
Environmental and Permitting The Project is supported by strong environmental support from a local Wyoming firm, Trihydro Corporation, and technical support from Greenlight LLC that have been instrumental in acquiring all the necessary permits for construction and operation. US Gold has established a collaborative approach with regulatory agencies and our technical teams will continue to develop the Project to meet all applicable regulatory standards. The construction and operation of the Project require no further major permits beyond site and sectoral permits, permit updates and revisions if there are any deviations from the approved activities. From the outset the approach has been to keep the Project simple and employ best practices to respect the environment and local community. This resulted in opting for dry-stack tailings placement to conserve and recycle as much water as possible. While the geochemical testing suggests that ore, waste and tailings will not generate acidic drainage, facilities will be isolated from the land surface by a liner as necessary to provide additional assurance that there will not be future occurrences. CK is a robust mine operation that is protective of water resources, air quality, cultural resources, wildlife and vegetation, and post-mine land use. Stakeholder and Community Engagement Since the decision to pursue the Project in September 2020, the Company has operated with dedicated budget and personnel to engage proactively with the communities, and other stakeholders with ties to the affected area. With consistent frequency the Project approaches state permitting agencies and coordinates with Federal agencies with jurisdiction in the area (primarily US Corp of Army Engineers). The Company has worked to build lasting relationships with a wide range of stakeholders, including nearby residents and community members, non-governmental organizations and various levels of government representatives. This approach reflects a deep Company-wide commitment to a high standard of social performance, achieved by acting transparently and building mutual respect and shared value. Stakeholder engagement is guided by an Environmental and Social Management System ("ESMS"), a Project site-specific plan that is updated annually to guide the activities, goals, and strategies for stakeholder engagement in a tailored manner that reflects the unique requirements of each region, individual stakeholder context, and cultural settings surrounding CK. The ESMS management approach specifically addresses the Company's stakeholder engagement, public communication, community involvement & investment, and monitoring & reporting – including social impact risks assessments, grievance procedures, materiality, and metric tracking. The company has advanced the ESMS with a view to complying with Equator Principles standards and has been the subject of two independent assessments by Digbee Ltd. ("Digbee"), a leading ESG disclosure platform for the extractive mining industry. The Digbee assessment is an independent assessment drawing from worldwide norms and CK was assessed an "A" rating in the recent 2026 assessment. Exploration Potential and Upside at CK Gold Project Beyond the FS mine plan, CK offers substantial longer-term upside and strategic optionality. The FS includes an updated mineral resource statement that includes mineral resources, which are currently excluded from the Project's mineral reserves and economic analysis. This has been a purposeful decision to limit the pit so as not to cross a dry drainage to the northwest of the current pit boundary which would have necessitated involvement of the U. S. Army Corp of Engineers. Future processing and development is an economic continuation to the existing plans but will involve additional permitting after Project expansion planning and investigation through additional drilling, and permit presentation. This can be accomplished during the early years of operation for a seamless transition into the additional resources. In addition, CK sits in the historic Silver Crown Mining District and while there are old workings within the surrounding area the company is at the early stages of investigating potential beyond the current resources, known to continue at depth and along strike. The Project layout and infrastructure contemplated in the FS also provide flexibility for potential future throughput expansion for the deeper resources, allowing US Gold to pursue disciplined growth opportunities while maintaining a simplified, low-risk development pathway. Next Steps and Opportunities With the FS complete, the Company is advancing to Project financing and shortly thereafter detailed engineering. Near-term priorities include securing major equipment specifications to allow detailed engineering and execution planning. The initial portion of the access road has been constructed, and the company is looking at the remaining access to the pit with an objective of quarrying from the pit the necessary aggregate ready for construction. The company has purchased 10-acres in an industrial park to the west of Cheyenne for employee parking and busing to site. There exists the possibility to erect office space at this site. No Production Decision: The Company has not made a production decision for the Project. A decision to proceed with construction will only be made following the completion and review of detailed engineering, approval by the Board of Directors, and securing financing arrangements. CK Feasibility Study Conference Call & Webcast US Gold will host a webcast on Wednesday, April 1, 2026, at 4:00 PM Eastern Time / 1:00 PM Pacific Time, to discuss the CK FS. The link to the webcast is: US Gold Feasibility Study Webcast webcast are included below. About U.S. Gold Corp. 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. The Company's CK Gold Project is located in Southeast Wyoming and has a Feasibility Study technical report, which was completed by Halyard– Micon International, Inc. The Company's Keystone exploration property is on the Cortez Trend in Nevada. The Company's Challis Gold Project is located in Idaho. For more information about U.S. Gold Corp., please visit https://www.usgoldcorp.com/. For additional information, please contact: Technical Information and Technical Report Filing
All are independent QPs of the registrant, except for Kevin Francis, as defined under S-K 1300. Kevin Francis, V.P. Exploration and Technical Services of the Company, who is a QP as defined under S-K 1300, has reviewed and approved the scientific and technical information disclosed in this news release. A TRS prepared in accordance with S-K 1300 for the CK Gold Project will be filed on a Form 8-K. Readers are encouraged to read the technical report in its entirety, including all qualifications, assumptions, exclusions and risks that relate to the Mineral Resource and Mineral Reserve estimates and the PFS. The Mineral Resource and Mineral Reserve estimates discussed in this news release are classified in accordance with the disclosure requirement of U.S. companies, subject to the reporting and disclosure requirements under United States federal securities laws and the rules and regulations thereunder. Forward Looking Statements Forward-looking statements are based on a number of factors and assumptions made by management and considered reasonable at the time such statement was made. Assumptions and factors include: the Company's ability to complete its planned exploration and development programs; the absence of adverse conditions at the Project and the Company's mineral properties; satisfying ongoing covenants under the Company's loan facilities; no unforeseen operational delays; no material delays in obtaining necessary permits; results of independent engineer technical reviews; the possibility of cost overruns and unanticipated costs and expenses; the price of gold remaining at levels that continue to render the Project and the Company's mineral properties economic; the Company's ability to continue raising necessary capital to finance operations; and the ability to realize on the mineral resource and reserve estimates. Forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: general business, economic and competitive uncertainties; the actual results of current and future exploration activities; conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; changes in Project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labor disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; risks related to local communities; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); title to properties; and other factors beyond the Company's control and as well as those factors included herein and elsewhere in the Company's public disclosure. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Readers are advised to study and consider risk factors disclosed in the Company's Annual Report on Form 10-K, as amended, for the fiscal year ended April 30, 2025, available on the EDGAR profile for the Company at www.sec.gov. Investors are cautioned not to put undue reliance on forward-looking statements. The forward-looking statements contained herein are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. Investors are urged to read the Company's filings with U.S. Securities and Exchange Commission which can be viewed online under the Company's profile on EDGAR at www.sec.gov. Cautionary Note Regarding Non-GAAP Financial Measures Total Cash Costs All-In Sustaining Cost Free Cash Flow
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Company Codes: NASDAQ:USAU | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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