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From: coug	5/10/2010 3:34:28 PM
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US Gold's Regional Drilling in Mexico Returns 213.9 gpt Silver Over 16.1 Meters at Palmarito, Press Release Source: US Gold Corporation On Monday May 10, 2010, 8:30 am EDT TORONTO, ONTARIO--(Marketwire - 05/10/10) - US GOLD CORPORATION (AMEX:UXG - News) (TSX:UXG - News) is pleased to announce results from five core holes at the Palmarito Project in Sinaloa State, Mexico. Palmarito is located 9 miles (15 km) from the Company's flagship El Gallo silver discovery (Fig 1) and is part of an aggressive regional exploration program. The best hole from Palmarito intersected 6.2 ounces of silver per ton (opt) over 52.8 feet (ft) (213.9 grams per tonne silver (gpt) over 16.1 meters (m). PALMARITO EXPLORATION OVERVIEW The objective of US Gold's exploration at Palmarito is to increase the size and grade of the resource by identifying new areas that could be included in the El Gallo Preliminary Economic Study (PEA), which is scheduled to be released during the Fourth Quarter. Results included in this release are the first core holes completed in the Palmarito Southwest Zone (Fig 2). US Gold is encouraged by these results because: 1) they successfully confirmed the presence of silver mineralization beyond the limits of the current Palmarito resource; 2) the weighted average grade from these holes is approximately 100% higher than the current resource; and 3) the mineralization is near surface and appears have good growth potential. Highlights from the Palmarito Southwest Zone are listed below: ----------------------------------------------------------------------------Hole # Silver Length From To Silver Length From To----------------------------------------------------------------------------(opt) (ft) (ft) (ft) (gpt) (m) (m) (m)--------------------------------------------------------------------------------------------------------------------------------------------------------PMX-043 2.0 29.0 128.4 157.5 67.2 8.9 39.2 48.0--------------------------------------------------------------------------------------------------------------------------------------------------------PMX-044 3.6 21.7 44.0 65.6 123.0 6.6 13.4 20.0--------------------------------------------------------------------------------------------------------------------------------------------------------PMX-045 4.5 20.3 115.2 135.5 156.0 6.2 35.1 41.3----------------------------------------------------------------------------Including 9.1 5.9 120.4 126.3 311.0 1.8 36.7 38.5--------------------------------------------------------------------------------------------------------------------------------------------------------PMX-046 6.2 52.8 37.6 90.4 213.9 16.1 11.5 27.6----------------------------------------------------------------------------Including 16.1 10.0 59.2 69.2 550.7 3.1 18.1 21.1--------------------------------------------------------------------------------------------------------------------------------------------------------PMX-047 2.8 17.6 428.6 446.2 94.8 5.4 130.7 136.0----------------------------------------------------------------------------Including 7.3 3.9 428.6 432.6 251.0 1.2 130.7 131.9----------------------------------------------------------------------------All depths indicated in table are down hole1.17 opt Ag (40 gpt Ag) cutoffAllowable waste interval was 9.8 ft (3 m) of less than 1.17 opt Ag (40 gptAg)Numbers may not add due to roundingTrue widths are unknown Drilling in the Palmarito Southwest Zone occurred over a 184 ft (56 m) strike length (Fig 3). Exploration is currently ongoing in the Palmarito Main Zone with drilling focusing on high-grade at depth. Results from these deeper holes are expected to be released in approximately four weeks. US Gold expects to publish an updated resource estimate for Palmarito during the Fourth Quarter as part of the PEA being completed for El Gallo. GEOLOGICAL DESCRIPTION OF PALMARITO Palmarito is a low-sulfidation, epithermal silver deposit. The area is primarily comprised of andesitic-dacitic volcanic rocks of the Sierra Madre Occidental Lower Volcanic Sequence which are cut by a hypabyssal rhyolitic intrusive. Silver mineralization is associated with strong silicification and siliceous breccias at or near the andesite/rhyolite contact. ABOUT US GOLD (http://www.usgold.com/) finance.yahoo.com

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