US Gold Corp.

Several Zones Merging Together

Resource Estimate 2 Weeks

TORONTO, ONTARIO -- (Marketwire) -- 06/23/10 -- US GOLD CORPORATION (NYSE Amex: UXG)(TSX: UXG) is pleased to announce results from sixteen new core holes (Fig. 1, Table 1) at the El Gallo Project in Sinaloa State, Mexico. These holes will be included in El Gallo's initial resource estimate due in two weeks. The results below demonstrate that El Gallo continues to increase in size and that several zones appear to be merging into a single enlarged zone.