U.S. Gold Corp. report that it has received assays for the last three holes of its CK Gold Project (the "Project") 2021 drilling program. The Company continues to be encouraged by the positive results from its confirmatory and expansion drilling.

Additionally, in June 2022, internationally acclaimed geologist Dr. Richard Sillitoe reviewed the core, consulted with Company geologists and conducted a site visit of the Project. Following the visit, Dr. Sillitoe confirmed that the gold-copper mineralization is of porphyry type and may have expansion opportunities at depth, to the southeast and in other, yet to be discovered, porphyry intrusions since deposits of this type can occur in clusters. The Company is reporting results from 3 core holes completed during the 2021 drilling program.

Gold and copper assays from the 2021 program continue to extend mineralization beyond the prefeasibility mineral resource estimate. As such, the Company believes that an increase of mineral resources is likely. The Company looks forward to designing a follow up drill program, taking into account the results of the 2021 drilling program, to potentially further increase the mineral resource at the Project.

Timing will be dependent upon the priorities of completing the next development steps and submitting the mine to permit application and available treasury. .S. Gold Corp. employs a rigorous QA/QC protocol on all aspects of sampling and analytical procedure.

Drill core is checked, logged, marked for sampling and sawn in half. One-half of each drill core is maintained for future reference and the other half of each drill core is sent to ALS, an ISO 17025 accredited laboratory in Reno, Nevada to complete all sample preparation and assaying. Samples are analyzed employing fire assaying with atomic absorption finish for gold, and four-acid ICP-MS analysis for silver and copper.

For QA/QC purposes, certified standards, blank samples and sample duplicates are inserted into the sample stream. U.S. Gold Corp. also periodically submits sample pulps to another independent laboratory for check analysis.