US Gold Corp. | Company Profile | Fact Sheet | precious metals silver gold financial markets information portal

US Gold is a United States based company engaged in the exploration of gold primarily in Nevada and Mexico. The Company's common shares are listed on the NYSE Alternext (NYSE.A) and the Toronto Stock Exchange (TSX) under the symbol "UXG". The Company has large land positions, good share liquidity and the potential upside of a junior exploration company.

Rob McEwen is Chairman and CEO of US Gold. Since July 2005, when McEwen became the Company's largest shareholder, US Gold's land position within Nevada's Cortez Trend has grown from 36 to 170 square miles. Previously, McEwen was the founder and former Chairman and CEO of Goldcorp Inc., where it's Red Lake Mine in northwestern Ontario, Canada is still considered to be the richest gold mine in the world. During his tenure at Goldcorp, McEwen transformed the company from a collection of small companies into a mining powerhouse, growing its market capitalization from US $50 million to approximately $8 billion. More importantly, the shares of the company produced a compounded annual growth rate of 32%.

The Cortez Trend is part of the Battle Mountain-Eureka Gold Belt that includes Barrick's Cortez (35 million ounces of gold) to the north and the Ruby Hill mine (4 million ounces) to the south. US Gold's merged properties on the Cortez Trend sit 10 miles south of Barrick's recent Cortez discovery. While the Cortez Trend remains under-developed, recent discoveries indicate that it could rival the famous Carlin Trend which is located approximately 30 miles to the northeast where reserves and mineralized material are estimated to be 180 million ounces.

The Company also owns approximately 500,000 acres of mineral rights in Mexico's Sinaloa State. Exploration work was initiated in early 2008 and has produced encouraging results including the exciting El Gallo discovery announced in November 2008.

Cortez Trend | Flagship Project

The Tonkin and Gold Bar properties are located in the heart of the prolific Cortez Trend. The properties encompasses 170 square miles and are situated immediately south of Barrick Gold and Rio Tinto’s Cortez Joint Venture Area, which has past production, current reserves and mineralized material of 33 million ounces of gold.

The Company believes that the Cortez Trend has become one of the most exciting areas in the world for gold exploration. In addition to Barrick and Rio Tinto’s, Barrick has just put the Ruby Hill mine into production south of US Gold which is expected to produce approximately 120,000 ounces of gold annually. Other companies in the trend include Newmont Mining which has put together an enormous land package in the northern region of the trend. There is also a scattering of junior exploration companies in the area.

In 2003, Placer Dome announced the discovery of Cortez Hills. This discovery altered the thinking for many surrounding the Cortez Trend because previous exploration programs had targeted near surface deposits without looking for deeper Carlin style mineralization. The Cortez Hills discovery demonstrated that Carlin deposits do exist within the Cortez Trend and that the true potential of the Trend lays at depth, contrary to previous thinking.

The Limo Project

Limo is a large 30 sq. mile (78 sq. km) property that historically produced 93,000 ounces of gold. US Gold believes there are many geologic similarities to Barrick’s Bald Mountain mine that is located 20 miles (32 km) to the west. Gold has been identified along the 15-mile (24 km) length of the Limo property in numerous mineralized areas. The most recent drilling at Limo targeted two areas referred to as Resurrection Ridge and Ticup (See Figure 1) and was designed to accomplish four objectives:

Core drilling in areas previously tested by reverse circulation (RC) holes, to investigate if the company can duplicate an earlier result that yielded higher grade assays with core.
Expand known mineralization and higher-grade.
Test for continuity between the mineralized areas.
Obtain information for an initial resource estimate.

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The Magistral District

Magistral is a former open pit, heap leach gold mine located in northwestern Mexico that produced approximately 70,000 ounces of gold between 2002-2005. Recent exploration has discovered high-grade gold mineralization such as 0.274 gold opt over 113 feet (9.4 gpt gold over 34.4 meters) that included 0.46 opt gold over 62.2 feet (15.76 grams gold over 19.0 meters).

The immediate land surrounding the mine totals approximately 37 square miles with additional 475 square miles of exploration property in the region. There are four exploration areas at Magistral that currently contain gold mineralization

For more detailed information about the projects and the company in general, please visit the website of US Gold!

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