U.S. Gold Closes $31.2M Private Placement Of 1.9M Shares At $16.25 And 961K Warrants At $23.00, Priced ~4% Below Dec. 15 Close; Warrants Immediately Exercisable And Will Expire In Two Years

U.S. Gold Corp. ("U.S. Gold," the "Company," "we," or "our") (NASDAQ:USAU) today announced that we have closed a private placement of 1,922,159 shares of our common stock at a price of $16.25 per share (the "Offering Shares") and warrants to purchase 961,077 shares of our common stock at an exercise price of $23.00 per share (the "Warrants"), pursuant to a securities purchase agreement entered into with certain investors, resulting in total gross proceeds of approximately $31.2 million. The Warrants are immediately exercisable and will expire two years after the initial issuance date. Pricing of the Offering Shares was set based on the close price of our common shares on Monday December 15, 2025 of $16.91, representing an approximate 4% discount to the close price.