US Gold Corp. Advances Exploration at CK Gold Project, Eyes Resource Expansion Drilling

• US Gold Corp. completed a drone-mounted magnetometer survey covering 325-line kilometres (km) at an average 32-metre (m) drape over the CK Gold Project in southeast Wyoming, conducted by Zonge International, Inc.
• Initial results extend magnetic anomalies first identified in a 2017 ground magnetometer survey, with new anomaly areas following a strong northwesterly structural fabric consistent with known gold & copper mineralisation at CK Gold.
• Wright Geophysics has been contracted to complete advanced interpretation of the new geophysical data, with a gravity survey by Zonge planned for late July over the same area.
• A mineral resource drilling programme is being developed to test mineralisation at depth below the existing pit shell & at new targets identified outside the proposed pit footprint.
• The geophysical work is positioned as a precursor to future drilling programmes targeting historical high-grade mining areas within the Silver Crown Mining District.

Company Overview

U.S. Gold Corp. (Nasdaq: USAU) is a publicly traded, US-focused gold & copper exploration & development company. Its flagship CK Gold Project, located in southeast Wyoming, is the subject of a Feasibility Study completed by Halyard-Micon International, Inc. The company's portfolio also includes the Keystone exploration property on the Cortez Trend in Nevada & the Challis Gold Project in Idaho.

Drone Survey Extends Known Anomalies

U.S. Gold Corp. (Nasdaq: USAU) has completed an updated & enlarged geo-magnetic survey at its CK Gold Project in southeast Wyoming, conducted by Zonge International, Inc. of Reno, Nevada. The programme deployed a drone-mounted magnetometer across 325-line kilometres (km) at an average drape of 32 metres (m) over the project area.

Initial results from the survey extend magnetic anomalies first identified through a ground magnetometer survey completed in 2017. The anomalous areas follow a strong northwesterly structural fabric, which the company considers significant given that mineralisation at CK Gold is characterised by a high magnetic signature. The anomalies indicate additional structures & magnetite-altered zones potentially capable of hosting gold & copper mineralisation.

Resource Expansion Drilling Programme in Development

US Gold Corp. has acknowledged that gold & copper mineralisation at CK Gold extends beyond the limits of current drilling. In response, the company is developing a mineral resource drilling programme designed to test mineralisation at depth below the existing pit shell, as well as new targets identified outside the proposed pit footprint through the current geophysical campaign.

The magnetic anomalies identified immediately southeast of the Copper King Mine are on trend with known mineralisation but lie beneath cover of the Oligocene White River Formation, a geological unit that the company notes contributes to significant amplitude readings in those areas. Additional areas of potential interest have been identified along linear anomalies across the broader project area.

Wright Geophysics has been contracted to carry out advanced interpretation of the newly acquired data. A complementary gravity survey is planned for late July 2026, to be conducted by Zonge over the same area. The objective is to identify rock packages similar to those hosting mineralisation at CK Gold & to investigate nearby areas of historical mining activity within the Silver Crown Mining District.

Kevin Francis, Vice President (VP) of Exploration & Technical Services at US Gold Corp., said:

"We are excited to see the additional anomalies similar to the historical Copper King Mine. We expect this information will lead to new exploration efforts to test these anomalous target areas."

Next Steps

Wright Geophysics is completing advanced interpretation of the drone magnetometer data, the results of which will inform target generation for future drilling. Zonge is scheduled to conduct a gravity survey over the project area in late July 2026, designed to complement the magnetometer dataset & further delineate drill-ready targets. The geophysical programme as a whole is positioned as the direct precursor to a mineral resource drilling programme that will test depth extensions below the existing pit shell & new targets beyond the current pit footprint identified through this campaign.

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