Results Continue to Extend Main Zone

TORONTO, ON - US Gold Corporation reported that drilling within the Magistral District, Sinaloa State, Mexico, continues to expand the mineralization and intersect richer silver grades at the Palmarito Project. Drilling has successfully extended the Main Zone by 310.0 feet to the northeast and 105.0 ft. vertically. The furthest hole drilled to the northeast returned 23.7 ounces per ton (opt) silver over 5.9 ft., 814.0 grams per tonne silver over 1.8 m), within an intercept of 9.2 opt silver over 31.0 ft. (313.8 gpt silver over 9.5 m). The zone remains open and shows good potential for expansion.
Core drilling continues to successfully extend the silver-gold mineralization down-dip of the Main Zone. RC results released earlier this year included 15.7 opt silver eq. over 30 ft. (538.6 gpt silver eq. over 9.1 m) and 13.6 opt silver eq. over 15 ft. (464.7 gpt silver eq. over 4.6 meters). US Gold's exploration is discovering higher silver grades at depth, which suggests drilling may be nearing a possible feeder system.
"The higher-grades at Palmarito are great to see! Although additional drilling is required, we believe the potential to discover more high-grade is excellent. Overall, our exploration in Mexico is starting to hit its stride and I look forward to watching it unfold," stated Rob McEwen, Chairman and CEO of US Gold.
The company's address is 99 George Street, 3rd Floor, Toronto, ON M5A 2N4, www.usgold.com.