Acquisition Brings Seasoned Mining Industry Professionals and up to $8.0 Million in Additional Capital

ELKO, NV - U.S. Gold Corp. has closed the acquisition of Northern Panther Resource Corporation ("Northern Panther") in an all-share transaction pursuant to a merger agreement between Company and Northern Panther.  Northern Panther, a Nevada corporation, has merged into a new subsidiary of U.S. Gold Corp.  Northern Panther's principal asset is the Challis Gold exploration project.  

Northern Panther's Challis Gold Project provides U.S. Gold Corp. with its newest exploration project, located in Idaho.  The founding group of Northern Panther has significant experience in growing mining companies with Challis Gold being a high-priority drill-ready target in a premier and growing U.S. gold district.

"Northern Panther Resource Corporation is another strategic acquisition for U.S. Gold Corp.  In addition to acquiring this new high potential exploration project, we are very pleased to welcome Mr. George Bee, Mr. Robert Schafer and others as new shareholders of U.S. Gold, said Edward Karr, President & CEO of U.S. Gold Corp. This acquisition was very attractive for our Board, and we view this as a win for our shareholders," Mr. Karr continued. "We are acquiring not only an additional high-potential exploration project, but a significant cash balance and some of the industry's leading shareholders, who plan to be very hands-on going forward.  The Challis Gold project is located in the western state of Idaho and has, we believe, significant upside exploration potential.  USAU shareholders now benefit from exploration and development projects in three of what we believe are the best U.S. states for mining development – Wyoming, Nevada and Idaho."