U.S. Gold Corp. (USAU) investor relations material

Executive summary

• Completed feasibility study for CK Gold Project, confirming robust economics and full permitting for construction, with an initial 11-year mine life and 1.6 million gold equivalent ounces in reserves.

• Raised $31.2 million in a private placement and exercised warrants, increasing cash to $30.7 million and working capital to $31.6 million as of April 30, 2026.

• No revenues generated; all activities remain in exploration or development stage.

Financial highlights

• Net loss of $17.2 million for the year ended April 30, 2026, improved from a $20.6 million loss in 2025.

• Operating expenses increased to $19.0 million, mainly due to higher professional, consulting, and G&A costs.

• Other income of $1.8 million, primarily from a $1.5 million gain on warrant liability reclassification.

• Cash used in operations was $18.2 million; cash provided by financing activities was $42.6 million.

• Accumulated deficit reached $110.6 million.

Outlook and guidance

• Sufficient cash to fund corporate and project activities for the next 12 months, but additional financing required to advance projects to development.

• Focus remains on securing project financing for CK Gold Project construction and advancing exploration at Keystone and Challis Gold projects.