U.S. Gold Corp. Announces Acquisition of Orevada Metals, Inc.

ELKO, NV - U.S. Gold Corp. has closed the acquisition of Orevada Metals, Inc. in an all share transaction. Orevada Metals is, a Nevada corporation, wholly owned by a privately held Canadian company (Orevada), which has become a new wholly-owned subsidiary of U.S. Gold Corp. Orevada has an option to acquire a 70% interest in the Maggie Creek Project.

The acquisition of Orevada and the option to acquire the Maggie Creek Project, gives U.S. Gold Corp. its second promising exploration project in Nevada, on the Carlin Trend. The Maggie Creek Project is located in the heart of the Carlin Trend. The Project occurs along the northeast projection of the Gold Quarry fault zone, which is an important mineralizing control at the Gold Quarry mine, indicating significant potential to discover Carlin style gold deposits in one of the world's most sought-after gold districts. 

Established in 2018 by leaders in the mining industry, Orevada is a North American focused exploration company that has an option to acquire a 70% interest in the Maggie Creek Project. The founding group of Orevada has significant experience in growing mining companies with Maggie Creek being a high priority drill ready target in a premier gold district. 

Edward Karr, said, "This is a strategic acquisition for U.S. Gold Corp.; creating a leading exploration company focused on the discovery of Carlin style deposits. The numerous gold showings at Maggie Creek within classical stratigraphy and structure that hosts the majority of gold ounces in the Carlin Trend, highlight the significant potential of the property. The host rocks and fault structures associated with Gold Quarry extend onto property while the Chukar-Anulite Fault structure, driving the high-grade mineralization at Gold Quarry, projects into the Maggie Creek Property where it intersects the NW structural corridor creating high priority drill targets. With this acquisition, U.S. Gold Corp. now controls two promising exploration projects on two of the world's leading gold trends." 

Drilling will initially test mineralized gold horizons that are projected to down dip into district-scale structures. These structures are part of a set of structures that focus large gold deposits that includes not only the Gold Quarry deposit but also the 41 million-ounce Betze-Post deposit and the 15 million-ounce Leeville - Carlin deposit within the district.