U.S. Gold granted ISP by the DEQ-ISD allowing construction of proposed mine

U.S. Gold Corp. announced the achievement of one of two significant milestones in the permitting stage of its CK Gold, gold, copper and silver mining project. On June 20 the Industrial Siting Division of the Department of Environmental Quality, of the State of Wyoming, or DEQ-ISD, granted an Industrial Siting Permit, or ISP, to U.S. Gold’s wholly-owned subsidiary, Gold King allowing for construction and operation of the proposed mine at the CK Gold Project. The ISP, which is the first of two critical permits necessary for the construction and operation of the proposed mine at the CK Gold Project, is a requirement for all projects in the state of Wyoming projected to exceed $253.9M in construction and mine capital costs. This includes all capital needed for the entire project build-out beyond the initial capital costs anticipated by the applicant. The second major permit package is the Mine Operating Permit and Mine Closure Plan, which the Company expects to be approved as early as the first half of 2024. The intent of the DEQ-ISD permitting process is to ascertain the regional impacts during construction and mine operation and release state funds to local governments to offset anticipated impacts.