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U.S. Gold Corp. Completes Second of Three Mine Operating Permit Conditions for the CK Gold Project in Wyoming
Receives Mine Reclamation Bond Acceptance for the Mine Operating Permit CHEYENNE, Wyo., June 20, 2024 /PRNewswire/ -- U.S. Gold Corp. ("U.S. Gold," the
About this update from U.s. Gold Corp.
[{"type":"text","content":"Receives Mine Reclamation Bond Acceptance for the Mine Operating Permit \nCHEYENNE, Wyo., June 20, 2024 /PRNewswire/ -- U.S. Gold Corp. (\"U.S. Gold,\" the \"Company,\" \"we,\" \"our\" or \"us\") (Nasdaq: USAU), today announced that its wholly-owned subsidiary, Gold King Corp., has received formal acceptance of the previously submitted reclamation bond, from the Director of the Wyoming Department of Environmental Quality (\"WDEQ\"). With this acceptance, two of the three conditions associated with the recently granted Surface Gold Mine Permit (the \"Mine Operating Permit\") for the CK Gold Project have been met.\nIn commenting on the acceptance, George Bee, President, CEO and Director of U.S. Gold said, \"WDEQ's acceptance of the reclamation bond, along with the issuance of the Water Discharge Permit announced last week, satisfies two of the three conditions associated with the Mine Operating Permit, further cementing that major milestone, as U.S. Gold progresses along the pathway to development. The remaining condition, receipt of the Air Quality Permit, is anticipated shortly. We believe that the Air Quality Permit submission is technically complete having been through rigorous review. The application is with the WDEQ Air Quality Division following the remaining statutory steps prior to consideration for approval. We remain on track to receive unconditional approval of the Mine Operating Plan in hand, around mid-year, as per prior guidance.\"\nLuke Norman, Executive Chairman of U.S. Gold, added, \"The CK Gold Project continues to advance with the major permitting almost complete. The U.S. Gold team is finalizing updates to project economic forecasts, taking into consideration updates to pricing on both the cost and revenue sides of the equation. An ideally located, fully permitted gold and copper project positioned to leverage rising commodity prices is anticipated to be immensely accretive for our investors. As significant shareholders of the Company, we are committed to forging the pathway to project financing without undue dilution to our fellow shareholders.\"\nBackground\nU.S. Gold Corp. pivoted from a purely exploration focus on its highly prospective assets in Nevada and Idaho to development of the CK Gold Project in 2020, representing a significant and achievable value creation opportunity for the Company.\nIn August 2...