U.S. Gold Corp. (NASDAQ: USAU), is pleased to announce that it has closed the previously announced purchase and sale of an aggregate of 1,457,700 shares of our common stock at $7.00 per share and warrants to purchase 728,850 shares of our common stock at an exercise price of $9.50 per share, in a registered direct offering. The aggregate gross proceeds from the Transaction totaled approximately $10.2 million and closed on December 6, 2024. After the close of the Transaction, the Company’s common shares outstanding is 12,323,116.

The Company did not retain a placement agent in connection with the Transaction.

U.S. Gold intends to use the net proceeds from the Transaction for working capital and other general corporate purposes.

About U.S. Gold Corp.

U.S. Gold Corp. is a publicly traded, U.S. focused gold and copper exploration and development company.  Its fully permitted CK Gold Project is located in Southeast Wyoming and has a Preliminary Feasibility Study technical report, which was completed by Gustavson Associates, LLC.  In addition, the Company has two exploration projects:  Keystone Gold located on the Cortez Trend in Nevada about 11 miles south of Nevada Gold Mines’ Cortez Hills Complex, and Challis Gold located in Idaho.