U. S. Gold Contracts CK Gold Project Director

Rhea-AI Summary

U.S. Gold Corp (NASDAQ: USAU) has appointed Ken Murray from Captrics Consulting to oversee the completion of the CK Gold Project's Definitive Feasibility Study and Project Execution Plan. Murray will coordinate engineering activities, develop project strategies, focus on cost reduction, manage the project team, and ensure compliance with regulations. His responsibilities include overseeing budget planning, risk management, and engineering design standards for the open-pit gold operation. CEO George Bee emphasized Murray's role in leveraging the project's strategic location, nearby infrastructure, skilled workforce, and local mining contractors. The appointment marks a crucial phase as the company aims to advance the CK Gold Project toward development, with a focus on meeting growing domestic copper and gold demand.

Positive

• Appointment of experienced project director Ken Murray brings expertise in project execution and optimization
• Strategic location near existing infrastructure and skilled workforce could reduce operational costs
• Project aims to meet growing domestic demand for copper and gold
• Focus on cost reduction and business case improvement indicates commitment to operational efficiency

Negative

• Project still in feasibility study phase, indicating significant time before potential revenue generation
• Substantial capital expenditure and resource requirements likely needed for project development

Insights

Mining Development Expert

U.S. Gold's hiring of experienced project director Ken Murray signals serious advancement toward CK Gold Project development and feasibility completion.

This appointment represents a significant milestone in U.S. Gold Corp's development timeline for the CK Gold Project. Hiring Ken Murray specifically for feasibility study finalization and project execution planning indicates the company is transitioning from preliminary studies toward actual project implementation. Murray's responsibilities encompass critical aspects including engineering coordination, cost optimization, team building, and contractor engagement – all essential elements for moving a mining project from concept to reality.

The company's emphasis on cost reduction and business case improvement suggests management is focused on enhancing the project economics prior to making a construction decision. Murray's mandate to develop relationships with local contractors highlights a strategic approach to potentially reducing construction costs by leveraging existing regional capabilities in Wyoming's established mining sector.

CEO George Bee's comments about the project's "unique location" and "nearby infrastructure" point to potential competitive advantages that could meaningfully reduce capital requirements and accelerate development timelines compared to more remote mining projects. The mention of a "skilled workforce and array of nearby contractors" indicates the company sees significant operational and cost benefits from the project's location.

The reference to "growing domestic demand for copper and gold" acknowledges favorable market conditions that could support project economics. This appointment signals the company is positioning itself to potentially benefit from these market dynamics by advancing its flagship asset toward production.

CHEYENNE, Wyo., June 17, 2025 /PRNewswire/ -- U.S. Gold Corp. ("U.S. Gold," the "Company," "we," "our" or "us") (Nasdaq: USAU) is pleased to announce that we have engaged Mr. Ken Murray of Captrics Consulting to manage the finalization of studies leading to a Definitive Feasibility Study and development of the Project Execution Plan for the CK Gold Project.

Mr. Murray will join the team advancing the project, bringing deep experience and knowledge in project execution with a focus on the following activities:

• Coordinate engineering activities of the Engineering, Procurement, and Construction Management firm ("EPCM") conducting the feasibility study and project execution plan and coordinate with the other firms involved in project design;
• Develop strategies and plans for the future phases (detailed engineering, procurement, construction, commissioning, operational readiness and operations) of the CK project in terms of project execution plans, schedule, budgets, and resources;
• Provide continued focus on reduction of capital and operating costs and improvement of the project business case;
• Plan, build and manage a high-performance project team, including owner's team, consultants, EPCM contractors, and local partners;
• Engagement with local contractors to develop relationships, understanding of capabilities and expectations of costs for construction;
• Oversee budget planning, cost control, and cash flow forecasting;
• Lead risk management and ensure commercial controls, procurement strategies, and contracting models are aligned with project objectives;
• Ensure engineering designs meet environmental, safety, and operational standards for an open-pit to ensure effective gold operation;
• Work closely with geology, metallurgy, and processing teams to ensure alignment of resource modeling, mine plan, and plant design; and
• Ensure all work complies with applicable mining, environmental, and occupational health & safety regulations.

By way of introduction, Mr. George Bee, President and CEO of U.S. Gold Corp., said, "We are very pleased to have found Ken Murray, who we recently sent to the CK Gold Project site to conduct a review of the work done to date on the CK Gold Project in preparation for the feasibility study and execution plan. We expect a focus on the opportunities presented by the project's unique location and opportunity to leverage off the nearby infrastructure, skilled workforce and an array of nearby contractors well versed in servicing the mining sector." He went on to add, "Ken will work with the firms and other consultants that have participated in advancing the project to date and bring attention to detail and execution, leveraging his vast recent experience in project optimization and delivery. U.S. Gold has reached another pivotal moment. As the CK Gold Project advances toward development, the Company's objective over the coming months will be to grow the team and expand its expertise to ensure delivery of a streamlined CK Gold Project—on time and on budget—into a market with growing domestic demand for copper and gold."

About Mr. Murray

Mr. Murray is a leader in the capital projects and innovation space with more than 25 years of industry experience in various industries, commodities, geographies, and roles. He is a 'big thinker' and is able to utilize his broad experience in projects, technology, and innovation, to provide a significant competitive advantage. He has significant experience across all areas of the project life-cycle, from studies to operations. Mr. Murray has fulfilled lead roles with companies including Kemix, DRA Global, Accenture, Ausenco, SNC-Lavalin, and Inspire Resources, working on projects for clients including BHP, AngloPlatinum, Assmang, Alamos, New Gold, and Goldcorp, amongst others. Since 2019, as Founder and CEO of Captrics Consulting, he has fulfilled many roles including Lead Advisor, Project Director, Senior Project Manager, Study Manager, and Subject Matter Expert for a number of companies including Alamos Gold, Volkswagen Powerco, Wesdome, Origen Mining , Electra Battery Materials, Halyard, Consultec, Hudbay, and BHP, amongst others.

About U.S. Gold Corp.

U.S. Gold Corp. is a publicly traded, U.S. focused gold and copper exploration and development company. U.S. Gold Corp. has a portfolio of exploration properties. Our CK Gold Project is located in Southeast Wyoming and has a Preliminary Feasibility Study technical report, which was completed by Samuel Engineering, Inc. Our Keystone exploration property is on the Cortez Trend in Nevada. Our Challis Gold Project is located in Idaho. For more information about U.S. Gold Corp., please https://www.usgoldcorp.com/.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release are forward-looking within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "proposed," "aims," "anticipates", "forecast," "estimated," "believes," "continues" and "intend," among others.  These forward-looking statements include statements related to the anticipated outcomes of the CK Gold Project; the potential benefits of engaging Mr. Murray; and expectations regarding a feasibility study and project execution plan. The Company has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, and other risks, contingencies, and uncertainties, most of which are difficult to predict and many of which are beyond the Company's control. The Company undertakes no duty to correct or update any information contained herein.

For further information
U.S. Gold Corp.
Investor Relations
+1 800 557 4550
ir@usgoldcorp.com
http://www.usgoldcorp.com/

View original content:https://www.prnewswire.com/news-releases/u-s-gold-contracts-ck-gold-project-director-302482939.html

SOURCE U.S. Gold Corp.

FAQ

Who is the new project director for USAU's CK Gold Project?

Ken Murray from Captrics Consulting has been appointed as the project director for the CK Gold Project.

What are the main responsibilities of Ken Murray at USAU's CK Gold Project?

Murray will manage the completion of the Definitive Feasibility Study, develop the Project Execution Plan, coordinate engineering activities, focus on cost reduction, manage the project team, and ensure regulatory compliance.

Where is USAU's CK Gold Project located?

The CK Gold Project is located near Cheyenne, Wyoming, with access to nearby infrastructure and local mining contractors.

What is the current development stage of USAU's CK Gold Project?

The project is currently in the feasibility study phase, working toward completion of a Definitive Feasibility Study and Project Execution Plan.

What metals will USAU's CK Gold Project produce?

The CK Gold Project is planned as an open-pit operation that will produce copper and gold.