News: 2004

U.S. Gold Corporation Reports Canyon Resources Becomes Shareholder Of Mexican Affiliate; Updates... August 31, 2004 - Denver, CO. - U.S. Gold Corporation (OTC BB: USGL; Berlin Exchange: US8) reported today that Canyon Resources Corporation (AMEX: CAU) has elected to take 600,000 shares of Gold Resource Corporation stock (10%) in exchange for the $500,000 funding previously provided by Canyon to Gold Resource; and U.S. Gold provides an update on its 45% owned Tonkin Springs gold mine managed by 55% owner BacTech Mining Corporation (TSX-V: BM). Download PDF

U.S. Gold Corporation Reports Positive Results From Scoping Study On Affiliate's Mexican... July 13, 2004 - Denver, CO. - July 13, 2004 - U.S. GOLD CORPORATION (OTC-BB: USGL; Berlin Exchange US 8) reported today that its 36% owned affiliate, Gold Resource Corporation ("GRC"), received positive results from an independent Scoping Study on the El Aguila gold/silver project in Oaxaca, Mexico which estimates cash costs to produce an ounce of gold could be $107 (using silver revenues as credit). The Scoping Study concludes that a hypothetical project at a 750 tonne/day milling rate would have a capital payback period of either 9 months or 8 months, depending on using new equipment or used equipment respectively, at a $375 per ounce gold price and a $6.00 per ounce silver price. The independent study was performed by the Denver based engineering firm, Lyntek, Inc. Download PDF

U.S. Gold Reports Its JV Partner at the Tonkin Springs Mine Initiates Exploration Program,... June 16, 2004 - Denver, CO. - June 16, 2004 - U.S. Gold Corporation (OTC BB: USGL; Berlin Exchange: US 8) reported today that its joint venture partner and project manager, BacTech Mining Corporation (TSX-V: BM), at the Tonkin Springs mine in Eureka County, Nevada, is proceeding with a two-fold exploration program. The program objectives are to enlarge the known deposits with infill and step-out drilling at existing pits, and to begin field work to identify targets for subsequent drilling to discover new deposits. BacTech estimates the exploration program's initial phase at approximately $440,000 and anticipates commencement of drilling at the end of the third quarter of 2004, subject to receipt of the necessary drilling permits. In addition, BacTech is aggressively working with the various permitting agencies to obtain permit amendments necessary to commence gold production at Tonkin Springs. Download PDF

U.S. Gold Corporation Subsidiary In Mexico Reports On Underground Sampling Program May 13, 2004 - Denver, CO. - U.S. Gold Corporation's (OTC BB: USGL; Berlin Exchange: US8) 40% owned subsidiary, Gold Resource Corporation, reported today important sampling results from the newly opened historic underground workings at the El Aguila mine in the state of Oaxaca, Mexico. Gold Resource said it was pleased to see most all of the historic workings were below its recently discovered, high-grade gold and silver mineralization and that it was able to confirm that this high-grade mineralization has not been previously mined. Download PDF

U.S. Gold Reports Positive Feasibility Study For Tonkin Springs Gold Mine Project May 5, 2004 - Denver, CO.- U.S. Gold Corporation (OTC BB: USGL; Berlin Exchange: US 8) stated today that its joint venture partner and project manager, BacTech Mining Corporation (TSX-V: BM), reported a positive third-party feasibility study for the Tonkin Springs Gold Mine Project located on the Cortez Gold Trend in Nevada. U.S. Gold owns a 45% interest in Tonkin Springs with BacTech Mining owning 55% and funding the initial $12 million for the project. Download PDF

Tonkin Springs Permit Amendments Filed, Countdown to Gold Production Underway March 18, 2004 - Denver, CO.- U.S. Gold Corporation (OTC BB: USGL; Berlin Exchange: US 8) reported today that permit amendments for restarting gold production at its 45% owned Tonkin Springs Mine in Eureka County, Nevada, have been submitted by its joint venture partner BacTech Mining (TSX-V: BM) to federal and state agencies for review. The engineering firm of Knight Piesold Consulting was contracted to assist in the engineering and permitting activities associated with reopening the mine. Download PDF

U.S. Gold Corporation Updates Activities March 9, 2004 - Denver, CO. - U.S. Gold Corporation (OTC BB: USGL; Berlin Exchange: US 8) reported today updates on activities related to its 45% joint venture interest in the Tonkin Springs mine in Eureka County, Nevada, and exploration activity at the El Aguila property carried out by its 40% owned subsidiary, Gold Resource Corporation, in the state of Oaxaca, Mexico. Download PDF

U.S. Gold Corporation Subsidiary In Mexico Continues Drilling High-Grade Gold January 8, 2004 - Denver, CO.- U.S. Gold Corporation (OTC BB: USGL; Berlin Exchange: US8) reported today that the second round of exploration drilling carried out by its 40% owned subsidiary, Gold Resource Corporation, continues to encounter a high-grade gold system at its El Aguila property in the state of Oaxaca, Mexico. Download PDF

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