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News: 2001

U.S. Gold to Evaluate Gold Production at Tonkin Springs; Sudbury Contact Mines to Depart

September 18, 2001 - Denver, Colo. - U.S. Gold Corporation (OTC BB: USGL) announced today it is free to look at placing its Tonkin Springs gold mine in Eureka County, Nevada into production now that Sudbury Contact Mines Limited (TSE-SUD) has announced it will withdraw effective October 18th, 2001, before earning any interest in the property. USGL will thereafter own the Tonkin Springs project 100% through full ownership of Tonkin Springs LLC. As provided in the agreement, SUD is required to fund the remaining project budget for 2001.

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U.S. Gold Affiliate Acquires Silver-Lead-Zinc Property in Mexico

August 24, 2001 - Denver, Colo. - U.S. Gold Corporation (OTC BB: USGL) announced today its affiliate, Gold Resource Corporation, has leased a strategically located mining property in the Zimapán Mining District in Mexico. Gold Resource Corporation (GRC), a private company whose largest shareholder is USGL (currently 36%), made the acquisition and has designated it GRC's Zimapán Project. USGL is managing all activities and GRC is responsible for funding the project located in the state of Hidalgo, Mexico.

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