U.S. Gold Corp. released information regarding gold and copper concentrate quality from its CK Gold Project, (the "Project") located near Cheyenne, Wyoming. Management reported that metallurgical testing at the Project site has produced a gold and copper concentrate desirable to smelter-refinery operators due to the quality of its gold and copper content and absence of some of the common penalty elements.

The concentrates will be shipped off-site to a smelter for further processing and blending with other concentrates. Metal extraction that takes place off-site at an established smelter is an indication that very few chemicals are utilized at site. Additionally, there will be no emissions at the site associated with smelting and refining.

The Project's mineral processing facility is composed of a jaw crusher, semi-autogenous and ball mill grind with froth floatation and cleaning. The nominal throughput rate for the facility is 20,000 tons per day and on average, approximately 170 tons per day of concentrated product is projected to be generated for sale to North American or overseas customers. During operation, the mine anticipates shipping over 450,000 tons of sulfide concentrate off-site for refining.

The filtered sulfide concentrate is anticipated to include <10% moisture content and solids containing copper, gold and silver-bearing minerals. Based on extensive metallurgical test work, the sulfide concentrate will be a clean product that will be in demand for its high gold content and lack of deleterious metals. The exact metal content will vary over the mine life, but on average, per its prefeasibility study (released December 1, 2021), the concentrate will contain approximately 19% copper, 1.5 oz/ton gold and 1.7 oz/ton silver.

The balance of concentrate mass will be made up of chalcopyrite and gangue minerals such as quartz. This composition, together with the near total absence of any deleterious elements, makes the concentrate an attractive product for sale in very well-established international markets. The copper market is expected to remain strong – bolstered by ongoing demand for electric vehicles, wind turbines and other CO2 mitigating technologies.

Final offtake contracts have yet to be settled, but the Project anticipates sales to one of a number of domestic copper smelters, which means that transportation of product by road is viable. The nearest facility is the Kennecott Utah smelter, near Salt Lake City, Utah and this is the most logical destination for the product. Other facilities are located in Arizona and eastern Canada.