U.s. Gold Corp. · NASDAQ:USAU
U.s. Gold — Investor Presentation (February 2021)
33 slides from U.s. Gold's investor presentation, Feb 2, 2021
Slide 1: U.S. Gold Corp. February 2021
Slide 2: Forward Looking Statements
Forward Looking Statements ‘TERMS OF USE AND DISCLAIMER - This presentation is being provided forthe sole prepose of providing the cecipients with backgconad infocatioa abont US. Gold Corp. (US. Gold”). US. Gold Cosp. has made seasonable efforts to ensnce that the infoumation contained in this prese
Slide 3: U.S. Gold Corp. Value Proposition
U.S. Gold Corp. Value Proposition + The next potential US 100K+ ounce AuEq gold producer Highly experienced management team Enhancing the historic CK Gold Project resource and economics * Updated PFS due 1* half 2021 * Targeting 100K+ oz AuEq potential production profile * Targeting an increased pro
Slide 4: U.S. Gold Corp. Overview
U.S. Gold Corp. Overview Combining robust economics with district-scale exploration, in mining Near Term Production Potential District-Scale Exploration CK Gold Project — WY* Advanced Development property Mining friendly location in the Silver Crown Mining District of southeast Wyoming NI 43-101 Tec
Slide 5: U.S. Gold Corp. Overview
U.S. Gold Corp. Overview Tight share structure and listed on NASDAQ ture (Febru Common shares outstanding 6,788,285 || Listing | NASDAQ | Warrants* | 1,883,718 | |" Symbet | UsAU- | Options* 95,000 52-week stock range $2.60 - $17.40 | Cash (as of Oct 31, 2020) ~$7.3M. | Average daily volume (10 days
Slide 6: Strengthened Management Team
Strengthened Management Team va Prior experience: Ww BARRICK @ AURELIAN > George Bee joined USAU as President after the acquisition of Northern Panther Resource Corporation (mid August, 2020) George Bee is a highly accomplished mine developer and operator spanning a 40-year career Spent 16 years wit
Slide 7: Overview
CK Gold Project Overview ~ A RS « eedtnd robust economics, WY ae ne Soe ; :
Slide 8: Claims & Location
CK Gold Project Claims & Location COPPER KING * ed in Southeast Township, Range, Wyoming, 20 miles west of Section Cheyenne Boundaries Wyoming is ranked the 7th Mineral Rights most mining friendly Boundary jurisdiction in the world (Fraser Institute) CK Gold Deposit Boundary (as Claims consists of 2
Slide 9: Resource Estimate (2012)
CK Gold Project Resource Estimate (2012): Measured 0.010 © 0.34 0.103 16,230,000 1. 0.017 0.59 + 280,000 0.192 62,460,000 Indicated a 010 0.34 —_ 111 49,300,000 44,720,000 0.014 0.48» 686,000 0.176 173,070,000 Inferred 0.010 © 0.34 0.136 16,330,000 14,810,000 0.011 0.38 184,000 0.190 61,970,000 = 20
Slide 10: PEA 2017 on 2012 Resource
CK Gold Project PEA 2017 on 2012 Resource* On December 5, 2017, Mine Development Associates (MDA) prepared an updated technical report and Preliminary Economic Assessment for U.S. Gold Corp. showing the below metrics: Results Projected Production and Processing Summary K Gold Project Pre-Tax Econon
Slide 11: PFS Expectations
CK Gold Project — PFS Expectations Anticipated Improvements * Increase to resource base * Gold and Copper Recovery * Better revenue delivery from a phased mining plan * Improve DCF on production increase * Simple process flow sheet: gravity, flotation recovery and dry-stack tailings * Bi-product cre
Slide 12: Recent Findings
CK Gold Project - Recent Findings Abundant Native Copper in Confirmed consistent widespread Oxidized Zone disseminated nature of sulfide mineralization and evidence of some sulfide on quartz veins Native copper will have negatively impacted prior (2009) copper recovery in the oxide and mixed zone Go
Slide 13: Favorable Factors
CK Gold Project: Favorable Factors Factors relative to other projects that bode well * Proximity to power supply * Proximity to water supply * Location is not remote from support services, workforce and infrastructure * ~ 2-miles from rail head and major interstate highway * Potential post mine land
Slide 14: Internal Update March, 2020
CK Gold Project Internal Update March, 2020°* On March 24 2020, US. Gold Corp. announced an internal update of the CK Gold Project potential economics at $1600 Gold and $2.80 Copper showing the below metrics: Base Case Gold price (US$/ounce) $1,600 Copper Price (US$/Ib) $2.80 Pre-Tax Cash Flow $510.
Slide 15: 2020 Drilling Program
CK Gold Project 2020 Drilling Program Development and Resource Expans CK Gold Project drilling for 2020 holes, for metallurg geotechnical, hydrological and_exploration-resource expansion purposes. Primary focus of 2020 expansion drilling was at the southeast end of the deposit, where it w largely op
Slide 16: 2020 Drill Results
CK Gold Project 2020 Drill Results Individual Cross Sections with Grades ICK20-04CB) “Sections Uineteate valnes in the frst thee of seven metillnigical dill holes designed to eapence samples for testing to enhance gold and copper process recovery. Note the consistency of the sineclization and the hi
Slide 17: 2020 Drill Results: Section Through CK20-04cB
Gold grades in drill holes and AuEq grade shells; g/t CK Gold Project 2020 Drill Results Ss ection Through CK20-04cB Nasdaq: USAU | usgoldcorp gold Plunge 00 Azimuth 112 17
Slide 18: Gold-copper soil anomaly in the potential pit
in the potential pit ountered extensive Gold-C soil anoma 1008 008
Slide 19: Beyond the Current Resource
oa __ y Beyond the Current Resource 7 of F 80% of historic drill holes end in mineralization or r ae are not closed off laterally — deposit wide open = ‘ Open at depth below 800 feet and southeast along e; strike; 2,900 ft of strike length untested Depth and strike length volume double current gold-
Slide 20: Nevada and Idaho Exploration Overview
Nevada Gold Cortez Complex Nevada Gold Goldrush _ Nevada and Idaho Exploration Overview — Discovering the next gold districts on the Cortez and Carlin Trends in. Nevada aa stk Brg (US. GOLD!
Slide 21: Nevada Projects Location
Nevada Projects Location Nevada — established gold mining jurisdiction = Produced ~5.6 M oz of gold produced in 2017 - approx. 75% of U.S. gold production! = The Sth largest gold producing “country” in the world = Historically, Nevada has produced > 225M oz of gold = “Elephant country”: numerous > 2
Slide 22: Keystone Project Location
Keystone Project Location The Cortez Trend — established gold mining belt = The Cortez Trend is one of the world’s most productive trends - producing ~ 1M oz of gold per year = The trend hosts numerous world class deposits”: Barrick’s Pipeline: ~21+ M oz gold Barrick’s Cortez Hills: ~15+ M oz gold B
Slide 23: Keystone Project Overview
Keystone Project Overview a = Consolidated an entire district on the Cortez Trend, NV - 20 square miles, 100% controlled by U.S. Gold Corp. = Never previously consolidated nor systematically explored by model-driven, modern-day exploration techniques = Hosts many of the same characteristics of the m
Slide 24: Keystone 2019 Drilling Stratigraphy
Keystone 2019 Drilling Stratigraphy > USAU 2019 Keystone Drilling program: KEYSTONE sama >» One core hole Key19-O1e STRATIGRAPHIC i 3 ie 2 & gee > Sis reverse-circulation holes (tc) SECTION s8 ,Ge8 i 2 £48 » Total of 13,177 feet (4,016 meters) Eocene Voleanies (Iv) 2 : a £ | Ls, > Focused on 4 targe
Slide 25: Keystone Project Arsenic Geochem
Keystone Project Arsenic Geochem = Arsenic in soils shown, yellow is > 50 ppm, red is >250 ppm = 4,474 soil samples and 666 stream sediment samples taken to date = Most soil samples collected on a 400 ft X 400 ft grid, with more detailed areas 200 X 200 feet, and in some cases 50 X 200 feet = Note a
Slide 26: Keystone Exploration
Keystone Exploration WwW cxetwosre — 2m@ 0333 gpt Au E Keystone moved from scout hole drilling to [sw targeted drilling— vectoring into discovery F > i : & s/é é iq a rs & eilecees 0 (enone LL Gry = 2019 targeted drilling of 7 holes i wean. ee, yO ; ~ — > High priority targets to follow up on 2018 r
Slide 27: Maggie Creek
Maggie Creek US. Gold Corp. acquired Orevada Metals, Inc. through a share exchange in September, 2019 > USAU has an option to acquire the Maggie Creek claims from Orogen Royalties, Inc. > USAU can earn up to 70% interest in the Maggie Creek project US. Gold Corp. controls approximately three square
Slide 28: Maggie Creek Opportunity
Maggie Creek Opportunity Approximately three square miles of unpatented mining claims on the Carlin Trend next to the giant Gold Quarry deposits (26 M oz Au) Classical structure and stratigraphy that hosts the majority of Au ounces on the Carlin Trend Numerous ore grade and anomalous Au intercepts i
Slide 29: Challis Gold Project - Idaho Is A Mining State
Challis Gold Project - Idaho Is A Mining State US. GOLD Challis Gold Project is located about 75 kms SW of Salmon, ID and 20 kms SW of Revival Gold’s Beartrack Project, within the q Tertiary Challis Volcanic Field Challis Gold is a low sulfidation, Au-Ag epithermal vein and stockwork deposit localiz
Slide 30: U.S. Gold Corp. Peer Comparison
U.S. Gold Corp. Peer Comparison Compelling value with considerable potential upside Pre-tax NPV of $321.6 million versus the company’s market capitalization of ~ $75 million US Open Pit Projects - Developer/Explorer Comps Market Global | EV / Oz Company Ticker Price Cap EV Ounces | (Global) P/NAV (C
Slide 31: Directors, Management & Technical Advisory Team
Directors, Management & Technical Advisory Team Edward Karr Executive Chairman The Honorable Ryan K. Zinke Director George Bee Director Robert Schafer Director Tara Gilfillan Director Michael Waldkicch Director Management Team George Bee President & CEO Eric Alexander CFO, Secretary Ken Coleman Chie
Slide 32: The U.S. Gold Corp. Opportunity
The U.S. Gold Corp. Opportunity Extremely tight share structure & advancing world-class assets Promising portfolio, in stable and mining friendly U.S. jurisdictions. The portfolio offers investors both potential near-term production and sizeable blue-sky exploration Team of accomplished explorers an
Slide 33: Development Package / Contacts
- DEVELOPMENT PACKAGE _ | Exciting combination of a || Top quality US. Gold Corp. is a US later stage development ‘management and based company, listed on _|] for the current resource asset and multiple advisory team with a major US Exchange — and valuation upside ~— exploration blue sky pedigrees o