US Gold updates Mexico exploration

US Gold Corporation announces results from its Magistral Mine and surrounding regional projects in Sinaloa State, Mexico. Exploration from the Magistral Mine intersected 0.093 opt (ounces per ton) gold over 101 ft. (3.17 gpt (grams per tonne) gold over 30.8 meters). Projects outside the mine area continue to deliver interesting results. Highlights from the Shakira Project include 0.204 opt gold, 30.08 opt silver, 1.5% lead and 0.2% zinc over 9.8 ft. (7 gpt gold, 1030 gpt silver, 1.5% lead and 0.2% zinc over 3 meters). Drill results from the Palmarito Silver Project returned 9.33 opt silver over 44.9 ft. (319.6 gpt silver over 13.7 meters).

US Gold’s properties in Nevada remain buried in snow preventing cost effective access for drilling, however work continues on completing new resource estimates for Tonkin, Gold Bar and Limo, which are due to be published during the second and third quarters of 2008. US Gold’s Nevada exploration program will resume in late spring.

Meanwhile, exploration in Mexico continues to deliver promising results from around the Magistral Mine, the Palmarito project, and the Shakira project.