TORONTO, ONTARIO--(Marketwire - April 9, 2009) - US GOLD CORPORATION (TSX:UXG)(NYSE Alternext US:UXG)(NYSE Amex:UXG.A)(FRANKFURT:US8) advises that certain disclosure in the Company's news release of February 12, 2009 which referenced previously published resource estimates disclosed contained ounces of gold for the Magistral Property and contained ounces of silver for the Palmarito Project, should have also included the figures for tonnage and grade for the various resource categories.
The information below sets out the resource data for the Magistral Property:
Tonnes Grade (gpt) Category Ounces (gold)
------- ----------- -------- -------------
6,924,000 1.89 measured 420,000 oz
2,380,000 1.58 indicated 121,000 oz
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Total: 541,000 oz
The information below sets out the resource data for the Palmarito Project:
Tonnes Grade (gpt) Category Ounces (gold)
------- ----------- -------- -------------
2,654,400 70.2 measured 5,991,500 oz
1,102,800 70.0 indicated 2,480,500 oz
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Total: 8,472,000 oz
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1,591,100 65.5 Inferred: 3,349,000 oz
The Company also clarifies that the investor presentation dated February 25, 2009 on its website referenced contained ounces for the Tonkin Project, the Gold Bar Project, the Palmarito Project and the Magistral Project that combined inferred resources with measured and indicated resources, which is not permitted under National Instrument 43-101. The Company has corrected this data.
Details of US Gold's NI 43-101 resource estimates can be found at www.usgold.com or www.sedar.com.
ABOUT US GOLD
US Gold Corporation is a United States based gold exploration company exploring in north-eastern Nevada and north-central Mexico. US Gold's shares trade on the NYSE Amex and Toronto Stock Exchanges under the symbol UXG and on the Frankfurt Exchange under the symbol US8.
QUALIFIED PERSON
This news release has been viewed and approved by Steve Brown, Chief Geologist, who is a Qualified Person as defined by National Instrument 43-101. |
