US Gold Outlines Nevada Exploration Program

DENVER, CO - US Gold Corporation reported that drilling has resumed on its Cortez Trend properties. The Company's primary objective in Nevada is to discover the next Cortez Hills deposit.
"During the first half of 2008, US Gold undertook a detailed analysis of its prior results to determine where the greatest odds of discovering the next Cortez Hills exist. A lot of people thought we had abandoned Nevada and shifted our focus to Mexico. Nothing could be further from the truth! After making significant changes to our program in Nevada, I believe we have improved the odds of making a discovery," stated Rob McEwen, Chairman and CEO of US Gold.
US Gold's 2008-2009 Nevada exploration program will consist of approximately 50,000 ft. of drilling. Exploration will focus on the Gold Bar property and Tonkin, where US Gold recently published an updated NI 43-101 resource estimate (Measured + Indicated 1,447,000 ounces of gold at a grade of 0.041 ounces per ton and Inferred 311,000 ounces of gold at a grade of 0.033 opt). Both projects are situated in Nevada's prolific Cortez Trend.
US Gold's geologic team, working with Ore Reserves Engineering, author of the recent Tonkin NI 43-101 resource estimate, Diagnos, a leader in artificial intelligence, and Mira Geoscience, have identified several prospective drill targets on the Gold Bar and Tonkin properties (Figure 1).
Targets that have been developed at Gold Bar are directly adjacent to the known mineral zone. Extensions and intersections of the structures that are believed to control this mineralization have been identified by US Gold and Diagnos and will serve as the primary focus during the Gold Bar drill program.
At Tonkin, two prospective areas have been outlined. The first target area is located along a major north-northwest structure on the west side of the property. The second target area is situated near the eastern edge of the mineral resource. Geophysics over the western target has identified four potential hydrothermal systems that are commonly the source of large mineral deposits throughout Nevada. One of the most exciting targets in this area contains a large geophysical signature that extends from near surface to more than 1 mile (1.6 km) at depth.
Phase two metallurgical test work has begun at Tonkin. The property previously produced approximately 30,000 ounces of gold from 1985-1989 when operations ceased due to poor gold recovery. During the spring of 2008 US Gold announced that ore from Tonkin underwent several tests to determine the best process method. Newmont Mining's N2TEC patented technology showed the best gold recoveries, with initial results significantly higher than those experienced using traditional floatation methods.
The company's address is 165 So. Union Blvd., Suite 565, Lakewood, CO 80228.

US Gold Outlines Nevada Exploration Program

DENVER, CO - US Gold Corporation reported that drilling has resumed on its Cortez Trend properties. The Company's primary objective in Nevada is to discover the next Cortez Hills deposit.
"During the first half of 2008, US Gold undertook a detailed analysis of its prior results to determine where the greatest odds of discovering the next Cortez Hills exist. A lot of people thought we had abandoned Nevada and shifted our focus to Mexico. Nothing could be further from the truth! After making significant changes to our program in Nevada, I believe we have improved the odds of making a discovery," stated Rob McEwen, Chairman and CEO of US Gold.
US Gold's 2008-2009 Nevada exploration program will consist of approximately 50,000 ft. of drilling. Exploration will focus on the Gold Bar property and Tonkin, where US Gold recently published an updated NI 43-101 resource estimate (Measured + Indicated 1,447,000 ounces of gold at a grade of 0.041 ounces per ton and Inferred 311,000 ounces of gold at a grade of 0.033 opt). Both projects are situated in Nevada's prolific Cortez Trend.
US Gold's geologic team, working with Ore Reserves Engineering, author of the recent Tonkin NI 43-101 resource estimate, Diagnos, a leader in artificial intelligence, and Mira Geoscience, have identified several prospective drill targets on the Gold Bar and Tonkin properties (Figure 1).
Targets that have been developed at Gold Bar are directly adjacent to the known mineral zone. Extensions and intersections of the structures that are believed to control this mineralization have been identified by US Gold and Diagnos and will serve as the primary focus during the Gold Bar drill program.
At Tonkin, two prospective areas have been outlined. The first target area is located along a major north-northwest structure on the west side of the property. The second target area is situated near the eastern edge of the mineral resource. Geophysics over the western target has identified four potential hydrothermal systems that are commonly the source of large mineral deposits throughout Nevada. One of the most exciting targets in this area contains a large geophysical signature that extends from near surface to more than 1 mile (1.6 km) at depth.
Phase two metallurgical test work has begun at Tonkin. The property previously produced approximately 30,000 ounces of gold from 1985-1989 when operations ceased due to poor gold recovery. During the spring of 2008 US Gold announced that ore from Tonkin underwent several tests to determine the best process method. Newmont Mining's N2TEC patented technology showed the best gold recoveries, with initial results significantly higher than those experienced using traditional floatation methods.
The company's address is 165 So. Union Blvd., Suite 565, Lakewood, CO 80228.