US GOLD CORP completes feasibility study for Wyoming CK gold project

U.S. Gold Corp. (USAU) announced completion of a feasibility study for its CK Gold Project in southeast Wyoming, showing an after-tax net present value of $632 million and 27% internal rate of return using base case metal prices.

The study outlines an 11-year mine life producing 931,000 gold equivalent ounces from 1.6 million contained gold equivalent ounces in mineral reserves. The project would generate average annual production of 85,000 gold equivalent ounces at total cash costs of $1,748 per ounce.

Initial capital costs are estimated at $394 million, excluding $28 million in pre-production owner costs, with sustaining capital of $35 million over the mine life. The study projects a 2.5-year payback period and strong early cash flow generation.

The project holds all required construction permits and has a $5 million reclamation bond in place. Mining operations would use conventional open-pit methods with a low strip ratio of 0.89:1 and minimal pre-stripping requirements.

Processing would employ froth flotation technology to produce copper-gold concentrate for smelter delivery. The operation would create approximately 198 direct jobs and generate royalty payments of 2.1% for local education funding.

The Wyoming project contains proven and probable reserves of 74.5 million tons grading 0.014 ounces per ton gold, 0.174% copper, and 0.041 ounces per ton silver. Mineral resources beyond current reserves offer potential mine life extensions.

Company CEO George Bee stated the study represents five years of engineering and permitting work for a domestic project ready for immediate development, pending financing arrangements.

The company will host a conference call April 1, 2026, to discuss the feasibility study results. A technical report summary will be filed with the SEC as part of the company’s next annual report.