U.S. GOLD CORP.

Operator Certification for Drinking Water System

The Project must obtain an operator certificate from the DEQ-WQD to operate the water treatment and distribution system of potable water serving Project site personnel and visitors. This is still pending. The certificate must be renewed every three years.

The Wyoming State Engineer’s Office (SEO) issues permits appropriate water for beneficial use, as well as permits to construct and operate water related infrastructure such as wells, mine dewatering systems and reservoirs. Between August 2022 and October 2023, the SEO issued 13 permits for water detention and storage ponds on the Project site. Three of these permits will need to be updated and one additional pond will need to be permitted with the SEO as a result of changes made to the water management plan as noted in Section 17.2.3. Additionally, in November 2022 the SEO granted permits for the planned groundwater abstraction from the pit sump and from a water supply well on the Project site.

The Wyoming State Historical Preservation Office (SHPO) requires a Cultural Resource Clearance if cultural resources are encountered within the Project site. A Class I cultural resource review was completed in June 2021, and a Class III field survey was conducted in September 2024. In the event that cultural or paleontological resources are encountered during construction or mining operations, activities must be halted at the find location and the DEQ-LQD and SHPO must be contacted within five days of discovery. If a resource is encountered on State land (Section 36), the OSLI must also be notified. Agency approval would be required to resume work at the find location.

An electrical plan and above ground fuel storage tank plan must be submitted to the State Fire Marshall for approval in accordance with the National Electrical Code. This is pending.

A fire protection system plan must be submitted in accordance with the Wyoming Department of Fire Protection and Electrical Safety. The State of Wyoming has adopted the International Codes, including the International Fire Code. Additionally, the fire protection system plan must meet the Laramie County Rural Fire Protection Development Rules and the Mining Safety and Health Administration (MSHA) regulations. This is also pending.

Fire hazard in the CK Gold Project area is generally low. The pit, stockpiles, and mine facilities will be stripped of vegetation and topsoil prior to disturbance during development and mining. Mine site water trucks will be available for fire suppression. Mobile equipment must have fire extinguishers per MSHA regulations.

Laramie County received the permit for the Project access road intersection to County Road 210. The County will also require a road maintenance agreement. A traffic study was conducted as part of the ISP, establishing baseline traffic volumes and modeling Project related traffic volume increases on local roads. Work on public roadways will also require coordination and review by the Wyoming Department of Transportation (WYDOT).

The Site Plan permit was issued by Laramie County on June 17, 2025.

The County may require permits for the various buildings to be constructed on the Project site. These permits have not yet been processed. The Project may be subject to inspections by the County Building Department.

In addition to the permitting requirements and associated interaction with the relevant federal, state and local government agencies as summarized in the previous section, development of the CK Gold Project will require certain agreements with private local entities as follows:

U.S. Gold has also reached out and provided Project information to various additional local public and private entities which may be affected by and/or interested in the project, as follows:

The Project is not located adjacent to any indigenous, Native American, or Bureau of Indian Affairs lands.

The Project has submitted a Reclamation Plan as part of the MOP application (Section 17.4). The closure objective is to reclaim the site to enable the resumption of its current use of cattle grazing, mule deer winter range, and other wildlife grazing. A reclamation cost estimate has been developed and submitted to the state as part of the reclamation bonding process. The reclamation plan is summarized as follows.

Topsoil will be removed from disturbed surfaces during the mine construction and operating phases and stockpiled on site for subsequent use as cover soil and revegetation during site reclamation. Concurrent reclamation will be practiced during the LoM to reclaim portions of the Project site as soon as feasible prior to the end of mining, securing corresponding early releases in bonding obligations. Cattle grazing will continue as feasible during mining on Project areas not directly affected by mine operations.

At the end of mineral processing operations, the mineral processing plant and support structures and facilities will be dismantled or demolished down to their foundations, with the latter left in place under a layer of revegetated cover soil. Materials and equipment will be salvaged or disposed of off-site. Process vessels and fuel and reagent tanks will be cleaned prior to salvaging or disposal, and any contents and residues will be managed and disposed of according to the applicable regulations. Certain structures or facilities may be left in place if requested by the landowners.

Quarries, borrow pits, yards, pads, drainage channels and impoundments will be regraded and revegetated. Roadways will be similarly reclaimed, except for segments to remain operational for post-closure monitoring purposes or at landowners’ request. Wells will be abandoned and plugged unless the landowners wish to retain them.

The waste rock and tailings facilities’ final reclaimed slopes will be 3H:1V or flatter. Micro-topographical undulations will be created on the TMF slope to promote revegetation and to support wildlife habitat. The TMF will receive shrub-specific vegetation on the south face to support mule deer and other wildlife. Rock outcroppings will also be constructed to enhance wildlife habitat.

Regraded surfaces will generally be covered with topsoil and revegetated using approved seed mixes. A transition material of crushed rock will be used to limit topsoil from being lost into TMF or waste rock facility rock voids. While the new vegetation grows, erosion control best practices will be implemented to protect against soil erosion. In certain areas of natural rock outcrop, the final exposed surface may be bare rock instead of vegetation.

Precipitation falling on the reclaimed areas will flow into natural drainages and infiltrate into the ground. Based on geochemical study results (Section 17.1.4), the waste rock and tailings are not expected to be acid generating, and seepage from these facilities is expected to meet applicable water quality standards. Seepage will be allowed to flow from the toes of the waste rock and tailings facilities into established natural drainages in a controlled manner that prevents erosion and sediment transport.

After the pit is fully excavated during Year 8, the pit will be backfilled with tailings produced during the last two years of post-mining mineral processing up to an elevation of 6,630 ft amsl. Then, with a combination of blasting and earthmoving, the pit rim will be dozed into the pit to create a 3H:1V final pit wall slope and final backfilled pit elevation of approximately 6,720 ft amsl.

Groundwater and precipitation will flow into the pit backfill material and the groundwater level will slowly rise within the pit until it stabilizes at about 6,717 ft elevation about 130 years after mining (NEIRBO 2023). Geochemical testing of mine rock and tailings indicates limited potential to produce ARD and/or metal release; therefore water contacting the pit wall rock and backfill is not expected to result in detectable metal leaching. A pit lake is not expected to form because evaporation losses will keep the groundwater level below the surface of the backfill. The pit is predicted to act as a hydraulic sink with no groundwater outflows.

To help increase the local area’s long-term water storage capacity, discussions have begun with BOPU about the possibility of converting the post-mining open pit into a water storage reservoir. Upon completion of reclamation, water could be transferred from external sources to the new reservoir to help meet the local area’s water storage needs.

A post-closure monitoring plan will be implemented to verify that closure objectives are met, including the physical and chemical stability of the closed facilities.

Environmental compliance to date has been applicable to mineral exploration and other site investigation pre-mining activities, including management of surface disturbance, drilling, water use and discharge, reclamation of drill pads and roads, and associated bonding. Environmental management of these activities appears to have been good. The Project has a positive, collaborative relationship with the Office of State Lands and Investments, the Department of Environmental Quality, and the affected private landowner.

Another area of current focus is community engagement, including reaching out to and negotiating with the various private and public entities with whom the Project seeks agreements to enable further Project development. Current community engagement efforts also extend to other affected and interested local groups (Section 17.5).

Prior to the start of construction of the mine facilities, a Project Environmental Management System (EMS) will be developed and implemented consisting of a series of site-specific standards, plans and procedures governing the environmental management of the specific Project activities causing potential environmental impacts during construction, operations, closure and post-closure. The plans and procedures will identify management measures designed to avoid, mitigate or compensate for such impacts. The EMS will address the physical, natural biological and human community environmental components of the Project site and surroundings, including potentially affected local individuals and groups. The final engineering design of the Project, the environmental baseline studies (Section 17.2), the environmental impact and risk assessment, and the permit conditions of approval (Section 17.4), collectively form the basis for developing the Project EMS.

The CK Gold Project’s policy is to prioritize procurement and hiring from within the State of Wyoming to the extent feasible.

To date, the Project has found and utilized excellent local and in-state providers for the following services:

As development of the Project moves forward, U.S. Gold will continue to prioritize local procurement of competitively available goods and services, and local hiring of qualified personnel.