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Message: Announces Common Stock Offering

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Announces Common Stock Offering

posted on Apr 29, 09 03:54AM

April 29, 2009

US Gold Announces Common Stock Offering

TORONTO, ONTARIO--(Marketwire - April 29, 2009) - US GOLD CORPORATION (TSX:UXG)(NYSE Alternext US:UXG)(NYSE Amex:UXG.A) (the "Company" or "US Gold"), a U.S. and Mexico focused gold & silver exploration company, is pleased to announce that it intends to offer 20 million shares of its common stock pursuant to the Company's shelf registration statement filed with the U.S. Securities and Exchange Commission (the "SEC") and a shelf prospectus filed with certain Canadian securities regulatory authorities. Rob McEwen, the Company's Chairman and CEO, intends to purchase shares of the common stock in this offering. The Company intends to grant the underwriters a 30-day option to purchase up to 3 million additional shares of common stock to cover over-allotments, if any.

US Gold intends to use the majority of the net proceeds of this offering to fund its ongoing exploration in Nevada's Cortez Trend and in Mexico, as more particularly described in the prospectus supplement filed today with the SEC and Canadian security regulatory authorities. The remaining proceeds will be used for general corporate purposes.

GMP Securities L.P. and Dahlman Rose & Company, LLC are acting as joint book-runners for the offering.

The offering is being made by way of a registration statement, which has been declared effective by the SEC, a base shelf prospectus and a prospectus supplement each of which has been filed with the SEC and each of the Provincial securities regulatory authorities in Canada, other than Quebec. A copy of the preliminary prospectus supplement incorporating the base shelf prospectus relating to the offering may be obtained by either contacting the underwriters, by accessing the SEC website, www.sec.gov, or by accessing the website maintained by the Canadian securities regulatory authorities, SEDAR, at www.sedar.com.

In the United States from:

GMP Securities L.P.
Attn: New Issues Department
145 King Street West, Suite 300
Toronto, Ontario M5H 1J8
Canada
Phone: 416-943-6130
Fax: 416-943-6134
Email: ECM@gmpsecurities.com

Dahlman Rose & Company, LLC
Attn: Prospectus Dept.
142 West 57th Street
18th Floor
New York, NY 10019
Phone: 212-702-4521
Fax: 212-920-2952
Email: ECM@dahlmanrose.com


In Canada from:

GMP Securities L.P.
Attn: New Issues Department
145 King Street West, Suite 300
Toronto, Ontario M5H 1J8
Canada
Phone: 416-943-6130
Fax: 416-943-6134
Email: ECM@gmpsecurities.com