As filed with the Securities and Exchange Commission on ~~October~~February 74, ~~2024~~2026.

Registration No. 333-

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

Washington, D.C. 20549

FORM S-1

REGISTRATION STATEMENT UNDER ~~THE SECURITIES ACT OF 1933~~

THE SECURITIES ACT OF 1933

U.S. GOLD CORP.

(Exact name of registrant as specified in its charter)

Nevada

1000

22-1831409

(State or other jurisdiction of

incorporation or organization)

(Primary Standard Industrial

Classification Code Number)

(I.R.S. Employer

Identification Number)

1910 E. Idaho Street, Suite 102-Box 604

Elko, NV 89801

(800) 557-4550

(Address, including zip code, and telephone number,

including area code, of registrant’s principal executive offices)

George Bee

Chief Executive Officer and President

1910 E. Idaho Street~~, Suite 102-Box 604~~

Suite 102-Box 604

Elko, NV 89801

(800) 557-4550

(Name, address, including zip code, and telephone number, including area code, of agent for service)

~~Copies~~Copy to:

~~Brian~~Thomas ~~Boonstra Davis~~M. ~~Graham & Stubbs LLP 1550 Seventeenth Street, Suite 500 Denver, Colorado 80202 (303) 892-7348~~Rose

~~Approximate~~Nicole ~~date of commencement of proposed sale to the public: As soon as practicable after the effective date of registration statement~~A. Edmonds

IfTroutman ~~any~~Pepper ofLocke ~~the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. ☒~~LLP

If111 ~~this~~Huntington ~~Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act~~Avenue, ~~please~~9th ~~check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐~~Floor

Boston, MA 02199

(617) 239-0100

Approximate date of commencement of proposed sale to the public: From time to time after the effective date of this Registration Statement.

If any of the securities being registered on this form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the following box. ☒

If this form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this ~~Form~~form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting ~~company,~~ company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

	Large accelerated filer ☐	Accelerated filer ☐
	Non-accelerated filer ☒	Smaller reporting company ☒
		Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

The ~~information~~registrant inhereby amends this ~~prospectus~~registration isstatement ~~not~~on ~~complete~~such ~~and~~date ~~may~~or bedates ~~changed.~~as ~~The~~may ~~selling~~be ~~stockholders~~necessary ~~named~~to indelay ~~this~~its ~~prospectus~~effective ~~may~~date ~~not sell these securities~~ until the registrant ~~registration~~shall ~~statement~~file ~~filed~~a ~~with~~further ~~the~~amendment ~~Securities~~which ~~and~~specifically ~~Exchange~~states ~~Commission~~that isthis ~~effective.~~registration ~~This~~statement ~~prospectus~~shall isthereafter ~~not~~become aneffective ~~offer~~in toaccordance ~~sell~~with ~~these~~Section ~~securities~~8(a) ~~and~~of the ~~selling~~Securities ~~stockholders~~Act ~~named~~of in1933, ~~this~~as ~~prospectus~~amended, ~~are~~or ~~not~~until ~~soliciting~~the anregistration ~~offer~~statement toshall ~~buy~~become ~~these securities~~effective inon ~~any~~such ~~state~~date ~~where~~as the ~~offer~~Securities orand ~~sale~~Exchange isCommission, ~~not~~acting ~~permitted~~pursuant to said Section 8(a), may determine.

~~Subject~~The information in this prospectus is not complete and may be changed. The selling stockholders named in this prospectus may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to ~~Completion,~~sell ~~Dated~~these ~~October~~securities 7,and ~~2024~~the selling stockholders named in this prospectus are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted

SUBJECT TO COMPLETION, DATED FEBRUARY 4, 2026

PROSPECTUS

~~1,400,000~~U.S. ~~Shares~~GOLD ~~of Common Stock~~ CORP.

~~This prospectus relates to the offer and resale by the selling stockholders named herein (the “selling stockholders”) of up to 1~~2,~~400~~883,~~000 shares of our common stock, par value $0.001 per share (“common stock”), issuable upon the exercise of warrants~~238 (the “Warrants”) issued to the selling stockholders in a private placement pursuant to a securities purchase agreement, dated as of April 15, 2024, by and among us and the selling stockholders (the “Purchase Agreement”).Shares

~~The~~Common shares of common stock that may be offered and sold by the selling stockholders under this prospectus are shares that we may issue to the selling stockholders, from time to time following the date of this prospectus, upon exercise of the Warrants issued pursuant to the Purchase Agreement. See “Selling Stockholders” for additional information regarding the selling stockholders.Stock

WeThe ~~are not~~ selling ~~any~~stockholders ~~securities~~named ~~under~~in this prospectus ~~and~~may ~~will~~use ~~not~~this ~~receive~~prospectus ~~any~~to ofoffer ~~the~~and ~~proceeds~~resell from ~~the~~time ~~sale~~to oftime ~~the~~up ~~shares~~to 2,883,238 shares of our common stock by, ~~the~~par ~~selling~~value ~~stockholders~~$0.001 ~~However~~per share (“Common Stock”), wewhich ~~will~~are ~~receive~~comprised ~~proceeds~~of ~~from~~(i) ~~the~~1,922,159 ~~exercise~~shares of Common Stock (the ~~Warrants~~“Shares”) ifthat ~~the~~were ~~Warrants~~issued ~~are~~in ~~exercised~~a ~~for~~private ~~cash. We~~placement ~~intend~~pursuant to ~~use~~securities ~~those~~purchase ~~proceeds~~agreements by and among us and certain investors, ifdated ~~any~~December 23, ~~for~~2025 ~~general~~(the ~~corporate~~“Purchase ~~purposes~~Agreements”) and (ii) 961,079 shares of Common Stock (the “Warrant Shares”) issuable upon the exercise of warrants (the “Warrants”) that were issued by us pursuant to the Purchase Agreements.

~~Each~~The ~~selling~~Shares ~~stockholder~~and ~~named~~Warrant inShares ~~this~~were ~~prospectus,~~ or its donees, pledgees, transferees or other successors-in-interest, may offer or resell the shares of common stock from time to time through public or private transactions at prevailing market prices, at prices related to prevailing market prices or at privately negotiated prices. The selling stockholders will ~~bear~~be ~~all~~issued ~~commissions and discounts, if any, attributable~~ to the ~~sale~~purchasers ofin ~~shares,~~reliance ~~and~~upon ~~all~~exemptions ~~selling~~from ~~and other expenses incurred by~~ the ~~selling~~registration ~~stockholders. We will bear all costs,~~requirements ~~expenses and fees~~ in connection with the registration of the shares of common stock subject to resale hereunder. For additional information on the methods of sale that may be used by the selling stockholders, see “Plan of Distribution” beginning on page 13 of this prospectus. The selling stockholders may be deemed to be “underwriters” within the meaning of Section 24(a)(112) of the Securities Act of 1933, as amended (the “Securities Act”) and Regulation D (Rule 506) thereunder.

~~Our~~We ~~common~~will ~~stock~~not isreceive ~~listed~~any onof the ~~Nasdaq~~proceeds ~~Capital~~from ~~Market~~the ~~(“Nasdaq”)~~sale ~~under~~of our Common Stock by the ~~symbol~~selling ~~“USAU~~stockholders.” OnHowever, ~~October~~we 4,will ~~2024,~~receive ~~the~~proceeds ~~last~~from ~~reported~~the ~~sale~~exercise ~~price~~ of ~~our~~the ~~common~~Warrants ~~stock~~if asthe ~~reported~~Warrants onare ~~Nasdaq~~exercised ~~was~~for $5cash.72 ~~per~~We ~~share~~intend to use those proceeds, if any, for general corporate purposes.

~~You~~Any ~~should~~shares ~~read~~of ~~this~~Common ~~prospectus,~~Stock ~~together~~subject ~~with~~to ~~additional~~resale ~~information~~hereunder ~~described~~will ~~under~~have ~~the~~been ~~headings~~issued ~~“Where~~by ~~You~~us ~~Can Find More Information”~~ and ~~“Documents~~acquired ~~Incorporated~~ by ~~Reference”~~the ~~carefully~~selling ~~before~~stockholders ~~you~~prior ~~invest~~to in any resale of ~~our~~such ~~securities~~shares pursuant to this prospectus.

~~Investing~~Each inselling ~~our~~stockholder ~~securities~~named ~~involves~~in athis ~~high~~prospectus, ~~degree~~or ofits ~~risk.~~donees, ~~These~~pledgees, ~~risks~~transferees ~~are~~or ~~described~~other successors-in-interest, ~~the~~may ~~“Risk~~offer ~~Factors”~~or ~~section~~resell the ~~beginning~~shares onof ~~page 6~~Common ofStock registered under this prospectus. ~~You~~from ~~should~~time ~~also~~to ~~consider~~time ~~the~~through ~~risk~~public ~~factors~~or ~~described~~private ortransactions ~~referred~~at prevailing market prices, at prices related to inprevailing market prices or at privately negotiated prices. The selling stockholders will bear all commissions and discounts, if any, ~~documents~~attributable ~~incorporated~~to the sale of shares, and all selling and other expenses incurred by ~~reference~~the selling stockholders. We inwill ~~this~~bear ~~prospectus~~all costs, expenses and fees in ~~any~~connection ~~applicable~~with ~~prospectus~~the ~~supplement~~registration of the shares of Common Stock subject to resale hereunder. For additional information on the methods of sale that may be used by the selling stockholders, ~~before~~see ~~investing~~“Plan inof ~~these~~Distribution” beginning ~~securities~~on page 18 of this prospectus.

~~Neither~~Our ~~the~~Common ~~Securities~~Stock ~~and~~is ~~Exchange~~listed ~~Commission~~on (the Nasdaq Capital Market (“~~SEC~~NASDAQ”) ~~nor~~under ~~any~~the ~~state~~symbol ~~securities~~“USAU.” ~~commission~~On ~~has~~February ~~approved~~3, 2026, orthe ~~disapproved~~last reported sale price of ~~these securities~~our orCommon ~~determined~~Stock ifas ~~this~~reported ~~prospectus~~on isNASDAQ ~~truthful~~was or$17.69 ~~complete~~per share. ~~Any~~You ~~representation~~are urged to ~~the~~obtain ~~contrary~~current market isquotations afor ~~criminal~~our ~~offense~~Common Stock.

~~The~~Investing ~~date~~in ofour securities involves risks. You should review carefully the risks and uncertainties described under the heading “Risk Factors” contained in this prospectus ~~is ,~~and ~~2024~~under similar headings in other documents that are incorporated by reference into this prospectus as described on page 4 of this prospectus.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.

The date of this prospectus is , 2026

TABLE OF CONTENTS

About this Prospectus	1
ABOUT THIS PROSPECTUS	1
Cautionary Note Regarding Forward-Looking Statements	2
PROSPECTUS SUMMARY	2
Prospectus Summary	4
THE OFFERING	3
The Offering	5
RISK FACTORS	4
Risk Factors	6
FORWARD-LOOKING STATEMENTS	5
Use of Proceeds	7
USE OF PROCEEDS	6
Selling Stockholders	8
DETERMINATION OF THE OFFERING PRICE	7
Security Ownership of Certain Beneficial Owners and Management	10
MARKET INFORMATION FOR COMMON STOCK AND DIVIDEND POLICY	8
Certain Relationships and Related Party Transactions	12
DESCRIPTION OF SECURITIES BEING REGISTERED	9
Plan of Distribution	13
CERTAIN U.S. FEDERAL INCOME TAX CONSIDERATIONS	10
Description of Common Stock	14
SELLING STOCKHOLDERS	14
Interest of Named Experts and Counsel	15
PLAN OF DISTRIBUTION	18
Legal Matters	15
LEGAL MATTERS	20
Experts	15
EXPERTS	21
Where You Can Find More Information	16
WHERE YOU CAN FIND MORE INFORMATION	22
Disclosure of Commission Position on Indemnification for Securities Act Liabilities	17
INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE	23
Documents Incorporated by Reference	18

~~About~~ABOUT ~~this~~THIS ~~Prospectus~~PROSPECTUS

~~Important~~The ~~information~~registration isstatement we filed with the Securities and Exchange Commission (the “SEC”) includes exhibits that provide more detail of the matters discussed in this prospectus. You should read this prospectus, the related exhibits filed with the SEC, and the documents incorporated by reference ~~into~~herein ~~this~~before ~~prospectus~~making your investment decision. You ~~may~~should ~~obtain~~rely only on the information provided in this prospectus and the documents incorporated by reference ~~without~~herein ~~charge~~or any amendment thereto. You should not assume that the information bycontained ~~following~~in this prospectus or any related free writing prospectus is accurate on any date subsequent to the ~~instructions~~date ~~under~~set forth on the ~~sections~~front of the document or that any information we have incorporated by reference herein is correct on any date subsequent to the date of the document incorporated by reference, even though this prospectus ~~entitled~~or ~~“Where~~any ~~You~~related ~~Can~~free ~~Find~~writing ~~More~~prospectus ~~Information” and~~is ~~“Documents~~delivered, ~~Incorporated~~or bysecurities ~~Reference.”~~are sold, ~~You~~on ~~should~~a ~~carefully~~later ~~read~~date. In addition, this prospectus ascontains ~~well~~or asincorporates ~~additional~~by ~~information~~reference summaries of certain provisions contained in some of the documents described herein, but reference is made to the actual documents for complete information. All of the summaries ~~under~~are qualified in their entirety by the ~~section~~actual documents. Copies of some of the documents referred to herein have been filed, will be filed or have been or will be incorporated by reference as exhibits to the registration statement of which this prospectus ~~entitled~~is a part, and you may obtain copies of those documents as described below under the heading “~~Documents~~Where ~~Incorporated~~You Can Find Additional Information.” Information contained in later-dated documents incorporated by ~~Reference~~reference will automatically supplement,” ~~before~~modify ~~deciding~~or tosupersede, ~~invest~~as inapplicable, ~~our~~the ~~common~~information ~~shares~~contained in this prospectus or in earlier-dated documents incorporated by reference.

~~Unless~~We ~~the~~have ~~context~~not ~~requires~~authorized ~~otherwise,~~anyone ~~references~~to provide any information or to make any representations other than those contained in this prospectus, ~~to “~~the documents ~~Company,”~~incorporated ~~“we,”~~by ~~“us”~~reference ~~and~~herein ~~“our” refer~~or in any free writing prospectuses prepared by or on behalf of us or to Uwhich we have referred you.S. ~~Gold~~If ~~Corp~~anyone provides you with different or additional information, you should not rely on it. We take no responsibility for, and ~~its~~can provide ~~consolidated~~no ~~subsidiaries~~assurance as ato ~~combined~~the ~~entity~~reliability of, ~~and~~any ~~“this~~other ~~offering”~~information ~~refers~~that toothers may give you. You should assume that the ~~offering~~information ~~contemplated~~appearing in this prospectus or any document incorporated by reference in this prospectus is accurate only as of the date on the front cover of this prospectus. Our business, financial condition, results of operations and prospects may have changed since that date.

~~Neither~~This ~~us nor any of the selling stockholders authorized anyone to provide any information or to make any representations other than those contained in this~~ prospectus oris innot ~~any~~an ~~free~~offer ~~writing prospectus prepared by or on behalf of us or~~ to ~~which we have referred you. We take no responsibility for~~sell, ~~and~~nor ~~can~~are ~~provide no assurance as to~~ the ~~reliability~~selling ~~of,~~stockholders ~~any~~seeking ~~other information that others may give you. This prospectus is~~ an offer to ~~sell~~buy, ~~only~~ the shares offered ~~hereby,~~by ~~but~~this ~~only~~prospectus ~~under~~in any ~~the~~jurisdiction ~~circumstances~~where ~~and in~~ the ~~jurisdictions~~offer ~~where~~or itsale is ~~lawful~~not ~~to do so~~permitted. ~~The~~No ~~information contained~~offers ~~in this prospectus~~ or insales ~~any applicable free writing prospectus is current only as~~ of ~~its date, regardless of its time of delivery or~~ any ~~sale~~ of the shares of ~~our~~Common ~~common~~Stock ~~stock. Our business, financial condition, results of operations and prospects may have changed since that date. We~~ are ~~not,~~to ~~and~~be ~~the~~made ~~selling stockholders are not, making an offer of these securities~~ in any jurisdiction ~~where~~in which such offer or sale is not permitted.

Unless the context indicates otherwise, when we refer to “U.S. Gold,” “we,” “our,” “us,” the “Registrant” and the “Company” in this prospectus, we may refer to U.S. Gold Corp. individually, to one or more of its subsidiaries and/or partner companies, or to all such entities as a group, as dictated by context.

We use various trademarks and trade names in our business, including without limitation our corporate name and logo. All other trademarks or trade names referred to in this prospectus are the property of their respective owners. Solely for convenience, the trademarks and trade names in this prospectus may be referred to without the ® and ^TM symbols, but such references should not be construed as any indicator that their respective owners will not assert, to the fullest extent under applicable law, their rights thereto.

~~Cautionary~~PROSPECTUS ~~Note Regarding Forward-Looking Statements~~SUMMARY

This ~~prospectus~~summary ~~and~~provides ~~the~~an overview of selected information contained elsewhere or incorporated by reference in this prospectus. ~~contain~~This ~~“forward-looking~~summary is ~~statements”~~not ~~within~~complete ~~the~~and ~~meaning~~does ofnot ~~the~~contain ~~United~~all ~~States Private Securities Litigation Reform Act~~ of ~~1995.~~the ~~Such~~information ~~forward-looking~~you ~~statements~~should ~~concern~~consider ~~our~~before ~~anticipated~~investing ~~results and developments~~ in our ~~operations~~securities. inYou ~~future~~should ~~periods,~~carefully ~~planned~~read ~~exploration~~the ~~and~~prospectus, ~~development~~the ofinformation ~~our~~incorporated ~~properties,~~by ~~plans~~reference ~~related~~and tothe ~~our~~registration ~~business~~statement ~~and~~of ~~other~~which ~~matters~~this ~~that~~prospectus ~~may~~is ~~occur~~a part in ~~the future.~~their ~~These~~entirety ~~statements~~before ~~relate~~investing toin ~~analyses~~our ~~and~~securities, ~~other~~including the information ~~that~~discussed ~~are~~under ~~based~~“Risk onFactors” ~~forecasts~~in ofthis ~~future~~prospectus and ~~results,~~the ~~estimates~~documents ofincorporated ~~amounts~~by ~~not~~reference ~~yet determinable~~ and ~~assumptions~~our offinancial ~~management.~~statements ~~These~~and ~~statements~~related ~~include,~~notes ~~but~~that are ~~not~~incorporated ~~limited~~by ~~to,~~reference ~~comments~~in ~~regarding:~~this prospectus.

● The timing of the preparation, filing, and satisfaction of the conditions of our mine construction and operating permits for the CK Gold Project; ● The timing and process of completing conditions surrounding our approved mine operating permit and closure plan for the CK Gold Project; ● The assumptions and projections contained in the CK Gold Project Prefeasibility Study, including estimated mineral resources and mineral reserves, mine life, projected operating and capital costs, projected production, internal rate of return (“IRR”) and Net Present Value (“NPV”) calculations, and the possibility of upside potential at the project; ● The planned extensions of our leases; ● Our planned expenditures; ● Future exploration plans and expectations related to our properties; ● Our cash and liquidity forecasts; ● Our anticipation of future environmental and regulatory impacts; and ● Our business and operating strategies.

Words such as “may,” “should,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar expressions, as well as statements in future tense, are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance or results will actually be achieved. Forward-looking statements are based on information we have when those statements are made or our management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to:

● deviations from the assumptions and projections set forth in the prefeasibility study for the CK Gold Project; ● unfavorable results from our exploration activities; ● decreases in gold, copper or silver prices; ● whether we are able to raise the necessary capital required to continue our business on terms acceptable to us or at all, and the likely negative effect of volatility in metals prices or unfavorable exploration results; ● whether we will be able to begin to mine and sell minerals successfully or profitably at any of our current properties at current or future metals prices;

● potential delays in our exploration activities or other activities to advance properties towards mining resulting from environmental consents or permitting delays or problems, accidents, problems with contractors, disputes under agreements related to exploration properties, unanticipated costs and other unexpected events; ● our ability to retain key management and mining personnel necessary to successfully operate and grow our business; ● economic and political events affecting the market prices for gold, copper, silver, and other minerals that may be found on our exploration properties; ● fluctuations in interest rates and inflation rates; ● changes in governmental rules and regulations or actions taken by regulatory authorities; ● our ability to maintain compliance with Nasdaq’s listing standards; ● volatility in the market price of our common stock; ● our ability to fund our business with our current cash reserves based on our currently planned activities; ● our ability to raise the necessary capital required to continue our business on terms acceptable to us or at all, and the likely negative effect of volatility in metals prices or unfavorable exploration results; ● our expected cash needs and the availability and plans with respect to future financing; ● our ability to retain key management and mining personnel necessary to successfully operate and grow our business; ● the factors set forth under “Risk Factors” on page 6 of this prospectus; and ● other factors listed from time to time in registration statements, reports or other materials that we have filed with or furnished to the SEC, including our most recent Annual Report on Form 10-K for the fiscal year ended April 30, 2024, which is incorporated by reference into this prospectus.

We caution you that the forward-looking statements highlighted above do not encompass all of the forward-looking statements made in this prospectus or in the documents incorporated by reference in this prospectus.

We have based the forward-looking statements contained in this prospectus and in the documents incorporated by reference in this prospectus primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations and prospects. The outcomes of the events described in these forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results and experience to differ from those projected, including, but not limited to, the risk factors described herein and the risk factors set forth in Part I—Item 1A, “Risk Factors” in our Annual Report on Form 10-K for the year ended April 30, 2024 and elsewhere in the documents incorporated by reference into this prospectus. Moreover, we operate in a very competitive and challenging environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this prospectus and in the documents incorporated by reference in this prospectus. We cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements.

The forward-looking statements contained in this prospectus and in the documents incorporated by reference in this prospectus relate only to events as of the date on which the statements are made. We do not undertake any obligation to release publicly any revisions to such forward-looking statements to reflect events or circumstances after the date of this prospectus or to reflect the occurrence of unanticipated events. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, other strategic transactions or investments we may make.

Prospectus Summary

The following is a summary of the principal features of this offering and should be read together with the more detailed information and financial data and statements contained elsewhere in this prospectus and in the documents incorporated by reference herein and therein. This summary does not contain all of the information you should consider before investing in our securities and is qualified in its entirety by the information contained elsewhere in this prospectus and the documents incorporated by reference herein. You should carefully read the entire prospectus and the documents incorporated by reference herein, including our historical financial statements and the notes to the financial statements in our most recently filed Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. You should also carefully consider the information provided in the “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” sections of this prospectus before deciding to invest in our securities.

Overview of the Company

U.S. Gold Corp. is a gold, copper and precious metals development and exploration company pursuing exploration opportunities primarily in Wyoming, Nevada and Idaho. While we are an exploration and development company that owns certain mining leases and other mineral rights comprising the CK Gold Project in Wyoming, the Keystone Project in Nevada and the Challis Gold Project in Idaho, most of our recent activity has focused on moving the CK Gold Project along the development pathway. Our CK Gold Project’s property contains proven and probable mineral reserves and accordingly is classified as a development stage property, as defined in subpart 1300 of Regulation S-K ~~(“S-K 1300”)~~ promulgated by the ~~Securities and Exchange Commission (the “~~SEC”). None of our other properties contain proven and probable mineral reserves and all activities are exploratory in nature. We do not currently have any revenue-producing activities.

Recent Developments

On December 23, 2025, we entered into the Purchase Agreements with certain investors for the sale and issuance in a non-brokered private placement of an aggregate of 1,922,159 shares of our Common Stock, at a purchase price of $16.25 per share. In addition, we agreed to issue to these investors the Warrants, which have an exercise price of $23.00 per share and will expire two years thereafter.

Corporate Information

Our principal executive offices are located at 1910 E. Idaho Street, Suite 102-Box 604, Elko, NV 89801 and our telephone number ~~at that address~~ is (800) 557-4550. Our web site address is www.usgoldcorp.~~gold~~com. Information on our website is not incorporated in this prospectus and is not part of this prospectus, unless otherwise stated.

U.S. Gold Corp., formerly known as Dataram Corporation ~~(the “Company”)~~, was originally incorporated in the State of New Jersey in 1967 and was subsequently re-incorporated under the laws of the State of Nevada inon ~~2016~~December 30, 2015. Effective June 26, 2017, the Company changed its name to U.S. Gold Corp. from Dataram Corporation.

For a complete description of our business, financial condition, results of operations and other important information, we refer you to our filings with the SEC that are incorporated by reference in this prospectus, including our most recently filed Annual Report on Form 10-K, as amended, and Quarterly Reports on Form 10-Q, as amended. For instructions on how to find copies of these documents, see the section of this prospectus entitled “Where You Can Find More Information.”

~~April 2024 Offering~~2

OnTHE April 15, 2024, we entered into a securities purchase agreement (the “Purchase Agreement”) whereby we issued and sold, in a registered direct offering (the “Registered Direct Offering”), an aggregate of 1,400,000 shares of the Company’s common stock at a purchase price of $3.50 per share (the “Offering Shares”). The offer and sale of the Offering Shares pursuant to the Purchase Agreement was made under our effective shelf registration statement on Form S-3 (File No. 333-262415), which was declared effective by the SEC on May 12, 2022, and the related prospectus supplement dated April 15, 2024. Accordingly, the Offering Shares we issued and sold under the Purchase Agreement are not included in the 1,400,000 shares of common stock that are being registered for resale pursuant to the registration statement that includes this prospectus and are not part of the offering covered by this prospectus.OFFERING

Further, under the Purchase Agreement in a concurrent private placement (the “Private Placement” and, together with the Registered Direct Offering, the “Transactions”), we issued and sold Warrants to purchase up to 1,400,000 shares of common stock at an exercise price of $4.48 (the “Warrants”). Each Warrant is exercisable six months from the date of issuance and has a term expiring five years after such initial exercise date. The aggregate gross proceeds from the Transactions were approximately $4.9 million.

Common Stock offered by the selling stockholders		Up to 2,883,238 shares of Common Stock, which are comprised of (i) 1,922,159 shares of Common Stock and (ii) 961,079 shares of Common Stock issuable upon the exercise of the Warrants.

Selling Stockholders		All of the shares of Common Stock are being offered by the selling stockholders named herein. See “Selling Stockholders” on page 14 of this prospectus for more information on the selling stockholders.

Use of Proceeds		We will not receive any proceeds from the sale of the shares in this offering. However, we will receive proceeds from the exercise of the Warrants if the Warrants are exercised for cash. We intend to use those proceeds, if any, for general corporate purposes. See “Use of Proceeds” beginning on page 6 of this prospectus for additional information.

Plan of Distribution		The selling stockholders named in this prospectus, or their pledgees, donees, transferees, distributees, beneficiaries or other successors-in-interest, may offer or sell the shares of Common Stock from time to time through public or private transactions at prevailing market prices, at prices related to prevailing market prices or at privately negotiated prices. The selling stockholders may also resell the shares of Common Stock to or through underwriters, broker-dealers or agents, who may receive compensation in the form of discounts, concessions or commissions. See “Plan of Distribution” beginning on page 18 of this prospectus for additional information.

Nasdaq Capital Market Trading Symbol		Our Common Stock is listed on the Nasdaq Capital Market under the symbol “USAU”.

Risk Factors		Investing in our Common Stock involves a high degree of risk. You should carefully read and consider the information beginning on page 4 of this prospectus and set forth under the heading “Risk Factors” and all other information set forth in this prospectus, and the documents incorporated herein and therein by reference before deciding to invest in our Common Stock.

RISK FACTORS

Investing in our Common Stock involves a high degree of risk. Our business is influenced by many factors that are difficult to predict, involve uncertainties that may materially affect actual results and are often beyond our control. You should consider carefully the risks and uncertainties under the heading “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended April 30, 2025, filed with the SEC on July 29, 2025, as amended on October 10, 2025, and supplemented by our Quarterly Reports on Form 10-Q, which are each incorporated by reference in this prospectus, and other information in our consolidated financial statements, all of which are incorporated by reference into this prospectus, before deciding to invest in our Common Stock. Additional risks and uncertainties, including those of which we are currently unaware or that are currently deemed immaterial, may also adversely affect our business, financial condition, cash flows, prospects and the price of our Common Stock. Please also read carefully the section below entitled “Forward-Looking Statements.”

~~The~~FORWARD-LOOKING ~~Offering~~STATEMENTS

Common Stock Being Offered by the Selling Stockholders		Up to 1,400,000 shares
Common Stock Outstanding Before the Offering		10,770,416 shares (as of October 4, 2024)
Common Stock to be Outstanding After Giving Effect to the Issuance of 1,400,000 Shares Registered Hereunder		12,170,416 shares
Use of Proceeds		We will not receive any proceeds from the sale of shares of common stock in this offering. However, we will receive proceeds from the exercise of the Warrants if the Warrants are exercised for cash. If all Warrants are exercised, we would receive approximately $6.3 million in aggregate gross proceeds. We intend to use those proceeds, if any, for working capital requirements and general corporate purposes.
Nasdaq Trading Symbol for Common Stock		“USAU”
Risk Factors		Investing in our securities involves a high degree of risk. You should carefully review and consider the section of this prospectus entitled “Risk Factors” for a discussion of factors to consider before deciding to invest in shares of our common stock.

This prospectus, including the documents that we incorporate by reference, contains predictive or “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements concern our anticipated results and developments in our operations in future periods, planned exploration and development of our properties, plans related to our business and other matters that may occur in the future. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. These statements include, but are not limited to, comments regarding:

	●	The timing, process, and outcome of permitting, construction, and development activities at the CK Gold Project;
	●	The assumptions and projections contained in our updated CK Gold Project prefeasibility study, including estimated mineral resources and mineral reserves, mine life, projected operating and capital costs, projected production, internal rate of return and Net Present Value calculations, and the possibility of upside potential at the project;
	●	The planned extensions of our leases;
	●	Our planned expenditures during our fiscal year ending April 30, 2026;
	●	Future exploration plans and expectations related to our properties;
	●	Our ability to fund our business through April 30, 2026 with our current cash reserves based on our currently planned activities;
	●	Our anticipation of future environmental and regulatory impacts; and
	●	Our business and operating strategies.

We use the words “anticipate,” “continue,” “likely,” “estimate,” “expect,” “may,” “could,” “will,” “project,” “should,” “believe” and similar expressions (including negative and grammatical variations) to identify forward-looking statements. Statements that contain these words discuss our future expectations and plans, or state other forward-looking information. Although we believe the expectations and assumptions reflected in those forward-looking statements are reasonable, we cannot assure you that these expectations and assumptions will prove to be correct. Our actual results could differ materially from those expressed or implied in these forward-looking statements as a result of various factors described in this prospectus, including:

	●	Unfavorable results from our exploration activities;
	●	Decreases in gold, copper or silver prices;
	●	Whether we are able to raise the necessary capital required to continue our business on terms acceptable to us or at all, and the likely negative effect of volatility in metals prices or unfavorable exploration results;
	●	Whether we will be able to begin to mine and sell minerals successfully or profitably at any of our current properties at current or future metals prices;
	●	Potential delays in our exploration activities or other activities to advance properties towards mining resulting from environmental consents or permitting delays or problems, accidents, problems with contractors, disputes under agreements related to exploration properties, unanticipated costs and other unexpected events;
	●	Our ability to retain key management and mining personnel necessary to successfully operate and grow our business;
	●	Economic and political events affecting the market prices for gold, copper, silver, and other minerals that may be found on our exploration properties;
	●	Volatility in the market price of our Common Stock; and
	●	The factors set forth under “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K/A, filed with the SEC on October 10, 2025.

You should read this prospectus and the documents that we reference herein completely and with the understanding that our actual future results may be materially different from what we currently expect. You should assume that the information appearing in this prospectus and any document incorporated by reference is accurate as of its date only. Because the risk factors referred to above could cause actual results or outcomes to differ materially from those expressed in any forward-looking statements made by us or on our behalf, you should not place undue reliance on any forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for us to predict which factors will arise. In addition, we cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. We qualify all of the information presented in this prospectus, any accompanying prospectus supplement and any document incorporated herein by reference, and particularly our forward-looking statements, by these cautionary statements.

~~Risk~~USE ~~Factors~~OF PROCEEDS

~~Investing~~All in shares of our ~~common~~Common ~~stock~~Stock ~~involves~~offered aby ~~high~~this ~~degree~~prospectus ofare ~~risk.~~being ~~Before~~registered ~~making~~for anthe ~~investment~~accounts ~~decision,~~of ~~you~~the ~~should~~selling ~~carefully~~stockholders, ~~consider~~and ~~the~~we will ~~risks~~not ~~described~~receive ~~under~~any ~~“Risk~~proceeds ~~Factors”~~from inthe ~~our~~sale ~~most~~of ~~recently~~these ~~filed~~shares ~~Annual~~of ~~Report~~Common onStock. ~~Form~~However, ~~10-K~~we ~~and~~will ~~our~~receive ~~Quarterly~~proceeds ~~Reports~~from onthe ~~Form 10-Q,~~exercise ~~together with all~~ of the ~~other~~Warrants if ~~information~~the ~~appearing~~Warrants inare orexercised ~~incorporated~~for bycash. ~~reference~~We ~~into~~intend ~~this~~to ~~prospectus~~use ~~before~~those ~~deciding~~proceeds, ~~whether to~~if ~~purchase~~ any, offor ~~the~~general ~~common~~corporate ~~stock being offered~~purposes. ~~Our~~The ~~business,~~selling ~~financial condition or results of operations could be materially adversely~~stockholders ~~affected~~will bypay any ofunderwriting ~~these~~discounts ~~risks.~~and ~~Those~~commissions ~~risks~~ and ~~uncertainties~~expenses ~~are~~incurred ~~not~~by ~~the~~them ~~only~~for ~~risks~~brokerage, ~~and~~accounting, ~~uncertainties~~tax weor ~~face.~~legal ~~Additional~~services ~~risks and~~or ~~uncertainties~~any ~~not~~other ~~presently~~expenses ~~known~~incurred toby usthe orselling ~~that~~stockholders wein ~~currently~~disposing ~~deem~~of ~~immaterial~~shares ~~also~~of ~~may impair~~ our ~~business~~Common ~~operations~~Stock. IfWe ~~any~~will ofbear ~~these risks~~all ~~actually~~other ~~occur~~costs, fees ~~our business, results of operations~~ and ~~financial~~expenses ~~condition~~incurred ~~could~~in ~~suffer.~~effecting ~~The~~the ~~trading~~registration ~~price~~ of ~~shares~~our ofCommon ~~our~~Stock ~~common stock~~covered ~~could~~by ~~decline~~this ~~due~~prospectus, toincluding ~~any~~all ofregistration ~~these~~and filing ~~risks~~fees, and ~~you~~fees ~~may~~and ~~lose~~expenses ~~all~~for orour ~~part~~counsel ofand ~~your~~our ~~investment~~independent registered public accountants.

~~Use~~DETERMINATION ofOF ~~Proceeds~~THE OFFERING PRICE

The offering price of our shares of ~~common~~Common ~~stock~~Stock ~~covered~~underlying the Warrants is determined by ~~this~~reference ~~prospectus~~to ~~are~~their ~~being~~exercise ~~sold~~price byof ~~the~~$23.00 per ~~selling~~share ~~stockholders~~of Common Stock. We ~~will~~would ~~not~~expect to receive ~~any~~approximately $22,104,771 in gross proceeds ~~from~~assuming the ~~resale~~ cash exercise of all the Warrants ~~shares~~at ofthe ~~common~~applicable ~~stock~~exercise byprice. ~~any~~However, ofthe Warrants may be exercised on a cashless basis under certain circumstances. If all the ~~selling~~Warrants ~~stockholders~~are ~~because~~so exercised, we would not receive any gross proceeds from the ~~shares~~cashless exercise of ~~common~~the ~~stock~~Warrants. Also, we will not bereceive ~~sold~~any ~~for~~of the ~~account~~ proceeds from the disposition and/or resale of ~~each~~the shares of any Common Stock by the selling stockholders or their transferees, ~~respectively~~including the disposition and/or resale of any shares obtained upon exercise of the Warrants.

We cannot currently determine the price or prices at which shares of our Common Stock may be sold by the selling stockholders under this prospectus.

~~Selling~~MARKET ~~Stockholders~~INFORMATION FOR COMMON STOCK AND DIVIDEND POLICY

~~This~~Market prospectus relates to the possible resale by the selling stockholders named below of shares of common stock that may be issued to the selling stockholders upon exercise of the Warrants. We are filing the registration statement of which this prospectus forms a part pursuant to the provisions of the Purchase Agreement, in which we agreed to provide certain registration rights with respect to sales by the selling stockholders of the shares of common stock that may be issued to the selling stockholders upon exercise of the Warrants.Information

~~The~~Our ~~selling~~Common ~~stockholders,~~Stock ~~may,~~is ~~from~~listed ~~time~~on ~~to time, offer and sell pursuant to this prospectus any or all of~~ the ~~shares~~Nasdaq ofCapital ~~common~~Market ~~stock.~~under ~~The selling stockholders may sell some, all or none of~~ the ~~shares~~symbol ~~of common stock~~“USAU. We do not know how long the selling stockholders will hold the shares of common stock before selling them, and we currently have no agreements, arrangements or understandings with the selling stockholders regarding the sale of any of the shares of common stock.”

~~The~~As ~~following~~of ~~table~~January ~~presents~~31, ~~information~~2026, ~~regarding~~we ~~the~~had ~~selling~~approximately ~~stockholders~~16,455,121 ~~and the~~ shares of ~~common~~Common ~~stock~~Stock ~~that~~issued ~~each of them may offer~~ and ~~sell~~ ~~from~~outstanding ~~time~~held toof ~~time~~record ~~under this prospectus. The table is prepared based on information supplied to us~~ by ~~the selling stockholders or~~approximately ~~information~~104 ~~available~~holders ~~to us as~~ of ~~October 4, 2024~~record. ~~None~~Because many of ~~the~~our ~~selling~~shares ~~stockholders nor any~~ of ~~their~~Common ~~affiliates~~Stock ~~has~~are held aby ~~position~~brokers ~~or office,~~and ~~or had any~~ other ~~material~~institutions ~~relationship,~~on ~~with~~behalf ~~us or any~~ of ~~our predecessors or affiliates. The number of shares of common stock~~stockholders, ~~beneficially~~we ~~owned~~are byunable ~~the~~to ~~selling~~estimate ~~stockholders has been determined in accordance with Section 13(d) of~~ the ~~Securities~~total ~~Exchange~~number ~~Act~~ of ~~1934,~~ asbeneficial ~~amended~~owners ~~(the “Exchange Act”) and Rule 13d-3 thereunder. The percentage~~ of ~~shares beneficially owned prior to this offering is based on 10,770,416 shares of~~ our ~~common~~Common ~~stock~~Stock ~~actually~~represented ~~outstanding~~by asthese ofrecord ~~October 4, 2024~~holders.

	Beneficial Ownership Prior to this Offering							Beneficial Ownership After this Offering(3)
Name	Number of Shares(1)		%			Maximum Number of Shares to be Sold in this Offering(2)		Number of Shares		%
Phoenix Gold Fund Limited(4)		865,319		7.8	%		140,000		725,319		6.0	%
Jennifer Peltrier		180,000		1.7	%		90,000		90,000		*
Lowell Schmidt		460,000		4.3	%		230,000		230,000		1.9	%
Dave Schmidt		350,000		3.3	%		175,000		175,000		1.4	%
Michael Ho		250,000		2.3	%		125,000		125,000		1.0	%
Porter Partners, L.P.(5)		290,916		2.7	%		115,000		175,916		1.4	%
Thomas B. Akin		761,201		7.0	%		140,000		621,201		5.1	%
Goal Capital Inc.(6)		36,000		*			18,000		18,000		*
Brett Whalen		120,000		1.1	%		60,000		60,000		*
Scott Kelly		15,000		*			7,500		7,500		*
Tim Sorensen		46,000		*			23,000		23,000		*
Robert Pollock		31,000		*			23,500		7,500		*
William Murray John		120,000		1.1	%		60,000		60,000		*
Ian Godfrey		23,000		*			11,500		11,500		*
Harrison Pokrandt		20,000		*			10,000		10,000		*
Harry Pokrandt		40,000		*			20,000		20,000		*
Heather Pokrandt		40,000		*			20,000		20,000		*
Mitchell Pokrandt		20,000		*			10,000		10,000		*
Zara Pokrandt		20,000		*			10,000		10,000		*
ZCR Corp.(7)		23,000		*			11,500		11,500		*
Crestmont Invest LTD(8)		50,000		*			25,000		25,000		*
Jan Michelle Bikic		50,000		*			25,000		25,000		*
Alfred Simon Gregorian		30,000		*			15,000		15,000		*
James R. Paterson		50,000		*			25,000		25,000		*
Hugh Nash		10,000		*			5,000		5,000		*
Frank Borowicz		10,000		*			5,000		5,000		*

Dividends

*We have ~~The~~never ~~percentage~~paid cash dividends to the holders of ~~common~~our ~~stock~~Common ~~beneficially~~Stock ~~owned~~and iscurrently ~~less~~intend ~~than~~to 1%retain all available funds and any future earnings to fund the development and expansion of our business. We do not anticipate paying any cash dividends to the holders of our Common Stock in the foreseeable future. Investors should not purchase our Common Stock with the expectation of receiving cash dividends. Any future determination to declare dividends will be made at the discretion of our board of directors and will depend on our financial condition, operating results, capital requirements, general business conditions, and other factors that our board of directors may deem relevant.

(1) The figures in this column are based on the shares of common stock and the shares of common stock underlying Warrants acquired by each selling stockholder in the Transactions, unless the Company is aware of and has access to other information.

	(2)	Assumes the sale of the maximum number of shares registered pursuant to this prospectus.
	(3)	Assumes the sale of all shares of common stock registered pursuant to this prospectus, although the selling stockholders are under no obligation known to us to sell any shares of common stock at this time.
	(4)	David Crichton Watt and Lawrence William Hill have voting and dispositive power over the securities held for the account of this selling stockholder, as its directors. The selling stockholder’s address is Suite 10.3, 10th Fl, West Wing, Rohas Pure Circle, No. 9, Jalan P. Ramlee. Kuala Lumpur, 50250.
	(5)	Jeffrey Porter, has sole voting and dispositive power over the securities held for the account of this selling stockholder, as its general partner. The selling stockholder’s address is 300 Drakes Landing Rd, Ste 171, Greenbrae, California 94904.
	(6)	Danny Gravelle, has sole voting and dispositive power over the securities held for the account of this selling stockholder, as its president. The selling stockholder’s address is 34 Via Di Nola, Laguna Niguel, California, 92677.
	(7)	Mark Wellings, has sole voting and dispositive power over the securities held for the account of this selling stockholder, as its president. The selling stockholder’s address is 2 Hughland Avenue, Toronto, Ontrario, Canada M4W 2A3.
	(8)	Peter Grut, has sole voting and dispositive power over the securities held for the account of this selling stockholder, as its director. The selling stockholder’s address is Gryon House, 17 Avenue De L’Annonciade, 9800 Monaco.

DESCRIPTION OF SECURITIES BEING REGISTERED

We are registering the offer and resale from time to time by the selling stockholders of 2,883,238 shares of Common Stock, which are comprised of (i) 1,922,159 shares of Common Stock and (ii) 961,079 shares of Common Stock issuable upon the exercise of the Warrants.

Common Stock

Our Articles of Incorporation, as amended, authorize us to issue up to 200,000,000 shares of Common Stock, par value $0.001 per share.

The holders of Common Stock are entitled to one vote per share on all matters to be voted upon by the stockholders and there are no cumulative rights. Subject to preferences that may be applicable to any outstanding shares of preferred stock, the holders of Common Stock are entitled to receive ratably any dividends that may be declared from time to time by our board of directors out of funds legally available for that purpose. We do not anticipate paying any cash dividends on our Common Stock in the foreseeable future but intend to retain our capital resources for reinvestment in our business. In the event of our liquidation, dissolution or winding up, the holders of Common Stock are entitled to share ratably in all assets remaining after payment of liabilities, subject to prior distribution rights of preferred stock then outstanding. The Common Stock has no preemptive or conversion rights or other subscription rights. There are no redemption or sinking fund provisions applicable to the Common Stock.

The transfer agent and registrar for our Common Stock is Equity Stock Transfer. Its address is 237 West 37th Street, Suite 602, New York, New York 10018. Our Common Stock is listed on the Nasdaq Capital Market under the symbol “USAU.”

~~Security~~CERTAIN ~~Ownership~~U.S. ofFEDERAL ~~Certain~~INCOME ~~Beneficial~~TAX ~~Owners and Management~~CONSIDERATIONS

The following ~~table~~is ~~contains~~a ~~information~~general ~~about~~summary of the ~~beneficial~~material U.S. federal income tax considerations of the purchase, ownership, ~~(unless~~and ~~otherwise~~disposition ~~indicated~~of our Common Stock. This summary does not describe all of the potential tax considerations that may be relevant in light of a prospective investor’s particular circumstances. For example, it does not address special classes of holders of our Common Stock, such as banks, thrifts, real estate investment trusts, regulated investment companies, passive foreign investment companies, insurance companies, dealers in securities or currencies, tax-exempt investors, pension plans, tax-qualified retirement plans, or governmental organizations, foreign entities that are treated as stapled to a domestic entity pursuant to Section 269B of the Internal Revenue Code of 1986, as amended (the “Code”), U.S. expatriates and former citizens or long-term residents of the United States or United States expatriated entities, or Non-U.S. Holders who have elected to mark securities to market or that hold our common stock as part of ~~October~~a 4“straddle,” ~~2024~~“hedge,” ~~by:~~or other risk reduction strategy or as part of a “conversion transaction,” or other integrated investment. This summary is limited to investors that acquire (i) Shares from the investors to whom they were issued pursuant to the Purchase Agreements and (ii) Warrant Shares from the investors to whom they were issued upon exercise of the Warrants, and hold such Shares and Warrant Shares as a capital asset within the meaning of the Code Section 1221 (generally, property held for investment purposes). Further, it does not include any description of any alternative minimum tax consequences, estate, gift, or generation-skipping tax consequences, or consequences under the tax laws of any state or local jurisdiction or of any foreign jurisdiction that may be applicable to holders of shares of our Common Stock. This summary is based on the Code, the U.S. Treasury regulations promulgated thereunder, and administrative and judicial decisions, all as in effect on the date hereof, and all of which are subject to change or differing interpretations, possibly on a retroactive basis. There can be no assurance that the Internal Revenue Service (the “IRS”) will not challenge one or more of the descriptions of the tax consequences described herein, and we have not sought, nor will we seek, a ruling from the IRS with respect to the U.S. federal income tax consequences of the purchase, ownership and disposition of shares of our Common Stock.

●As used ~~each~~in ~~person~~this ~~known~~prospectus, bythe usterm to“Non-U.S. ~~beneficially~~Holder” ~~hold~~means 5%a orbeneficial ~~more~~owner of our ~~outstanding~~Common ~~common~~Stock ~~stock,~~that ●is ~~each~~not offor ~~our~~U.S. ~~directors,~~federal income ●tax ~~each of our named executive officers, and ● all of our executive officers and directors as a group.~~purposes:

~~All information~~● isan ~~taken~~individual ~~from~~who oris ~~based~~a ~~upon~~citizen ~~ownership filings made by such persons with the SEC~~ or ~~upon~~resident ~~information provided by such persons to us. Except~~ (as ~~otherwise~~determined ~~noted,~~under wethe ~~believe~~Code) ~~that all~~ of the ~~persons~~United ~~and~~States ~~groups~~for ~~shown~~U.S. ~~below~~federal ~~have~~income ~~sole~~tax ~~voting and investment power with respect to the common stock indicated.~~purposes;

	Amount of Beneficial Ownership of Common Stock(1)
Name of Beneficial Owner	Number		Percent
Luke Norman(2)		527,247		4.81	]%
George Bee(3)		428,732		3.89	%
Robert W. Schafer(4)		129,757		1.20	%
Johanna Fipke(5)		-		*
Michael Waldkirch(6)		34,450		*
Eric Alexander(7)		89,275		*
Kevin Francis(8)		38,181		*
Current Directors and Executive Officers as a group (7 persons)		1,247,642		10.96	%
Phoenix Gold Fund Ltd(9)		865,319		7.84	%
Thomas B. Akin(10)		761,201		6.96	%

●

a corporation, or other entity taxable as a corporation for U.S. federal income tax purposes, created or organized in, or under the laws of, the United States, any state thereof, or the District of Columbia;

*The percentage● ofan ~~common~~estate, ~~stock~~the ~~beneficially~~income ~~owned~~of which is ~~less~~subject ~~than~~to 1%U.S. federal income taxation regardless of its source; or

	(1)	For each holder that holds restricted stock, options, restricted stock units, warrants or other securities that are currently vested or exercisable or that vest or become exercisable within 60 days of October 4, 2024, we treat the common stock underlying those securities as owned by that holder and as outstanding shares when we calculate that holder’s percentage ownership of our common stock. We do not treat that common stock as outstanding when we calculate the percentage ownership of any other holder.
	(2)	Includes: (i) 345,517 unrestricted shares of common stock; (ii) 3,463 shares of common stock underlying vested RSUs; (iii) options to purchase 30,310 shares of common stock, all of which are currently exercisable; and (iv) warrants to purchase 147,957 shares of common stock, all of which are currently exercisable. Mr. Norman has no voting rights with respect to the RSUs until the underlying shares are issued.

●

a trust, if either (i) a court within the United States is able to exercise primary supervision over the administration of the trust and one or more United States persons (within the meaning of Section 7701(a)(30) of the Code) have the authority to control all substantial decisions of the trust, or (ii) such trust has made a valid election under applicable Treasury regulations to be treated as a United States person for U.S. federal income tax purposes.

If an entity or arrangement that is classified as a partnership (or other “pass-through” entity) for U.S. federal income tax purposes holds our Common Stock, the U.S. federal income tax consequences to such entity and the partners (or other owners) of such entity generally will depend on the activities of the entity and the status of such partners (or owners). This summary does not address the tax consequences to any such partner (or owner). Partners (or other owners) of entities or arrangements that are classified as partnerships or as “pass-through” entities for U.S. federal income tax purposes should consult their own tax advisors regarding the U.S. federal income tax consequences arising from and relating to the purchase, ownership, and disposition of our Common Stock.

WE URGE ALL PROSPECTIVE INVESTORS TO CONSULT THEIR TAX ADVISORS REGARDING THE U.S. FEDERAL, STATE, LOCAL AND NON-U.S. INCOME, ESTATE AND OTHER TAX CONSIDERATIONS OF ACQUIRING, HOLDING AND DISPOSING OF OUR COMMON STOCK.

	(3)	Includes: (i) 175,566 unrestricted shares of common stock; (ii) 225,450 shares of common stock underlying vested RSUs, which are issuable upon Mr. Bee’s resignation from the Company (subject to acceleration and forfeiture in certain circumstances); (iii) options to purchase 30,928 shares of common stock, of which 26,946 are currently exercisable; and (iv) warrants to purchase 770 shares of common stock, all of which are currently exercisable. Excludes: options to purchase 3,982 shares of common stock. Mr. Bee has no voting rights with respect to the RSUs until the underlying shares are issued.
	(4)	Includes: (i) 100,750 unrestricted shares of common stock; (ii) 7,927 shares of common stock underlying vested RSUs which are issuable upon Mr. Schafer’s resignation from the Company (subject to acceleration and forfeiture in certain circumstances); (iii) options to purchase 20,310 shares of common stock, all of which are currently exercisable; and (iv) warrants to purchase 770 shares of common stock, all of which are currently exercisable. Mr. Schafer has no voting rights with respect to the RSUs until the underlying shares are issued.
	(5)	Ms. Fipke was (i) elected to the Board at the Company’s annual meeting held on April 26, 2024 and (ii) does not currently have beneficial ownership of any shares of the Company’s common stock.
	(6)	Includes: (i) 6,154 unrestricted shares of common stock; (ii) 7,409 shares of common stock underlying vested RSUs, which are issuable upon Mr. Waldkirch’s resignation from the Company (subject to acceleration and forfeiture in certain circumstances); (iii) options to purchase 20,310 shares of common stock, all of which are currently exercisable; and (iv) warrants to purchase 577 shares of common stock, all of which are currently exercisable. Mr. Waldkirch has no voting rights with respect to the RSUs until the underlying shares are issued.
	(7)	Includes: (i) 1,540 unrestricted shares of common stock; (ii) 67,186 shares of common stock underlying vested RSUs, which are issuable upon Mr. Alexander’s resignation from the Company (subject to acceleration and forfeiture in certain circumstances); (iii) options to purchase 21,372 shares of common stock, of which 19,779 are currently exercisable; and (iv) warrants to purchase 770 shares of common stock, all of which are currently exercisable. Excludes: options to purchase 1,593 shares of common stock. Mr. Alexander has no voting rights with respect to RSUs until the underlying shares are issued.
	(8)	Includes: (i) 308 unrestricted shares of common stock; (ii) 19,794 shares of common stock underlying vested RSUs, which are issuable upon Mr. Francis’s resignation from the Company (subject to acceleration and forfeiture in certain circumstances); (iii) options to purchase 18,900 shares of common stock, of which 17,925 are currently exercisable; and (iv) warrants to purchase 154 shares of common stock, all of which are currently exercisable. Excludes: options to purchase 975 shares of common stock. Mr. Francis has no voting rights with respect to RSUs until the underlying shares are issued.
	(9)	The number of shares held was obtained from the Schedule 13G/A filed by AIMS Asset Management Sdn. Bhd. (“AIMS”) on behalf of its fund under management, Phoenix Gold Fund Ltd (“Phoenix”) with the SEC on April 23, 2024, which reports ownership as of April 23, 2024. The Schedule 13G/A filing indicates that Phoenix had sole power to vote or direct the vote of 865,319 shares of our common stock and sole power to dispose or to direct the disposition of 865,319 shares of our common stock. The business address of AIMS is Suite 10.3, West Wing, Rohas Tecnic, No. 9 Jalan P.Ramlee, 50250 Kuala Lumpur, Malaysia.
	(10)	The number of shares held was obtained from the Schedule 13G filed by Thomas B. Akin with the SEC on May 7, 2024, which reports ownership as of May 7, 2024. The Schedule 13G filing indicates that Mr. Akin had sole power to vote or direct the vote of 621,201 shares of our common stock and sole power to dispose or to direct the disposition of 621,201 shares of our common stock. Mr. Akin’s residential address is 30 Liberty Ship Way, Suite 3110 Sausalito, California 94965.

Taxation of Non-U.S. Holders

The following is a summary of the material U.S. federal income tax consequences to Non-U.S. Holders of the ownership and disposition of the shares of Common Stock.

Distributions

Distributions on shares of our Common Stock will constitute dividends for U.S. federal income tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under U.S. federal income tax principles. If a distribution exceeds our current and accumulated earnings and profits, the excess will be treated first as a tax-free return of capital and will reduce (but not below zero) the Non-U.S. Holder’s adjusted tax basis in such shares of our Common Stock, and any remaining excess will be treated as gain realized from the sale or exchange of the shares of our Common Stock, the treatment of which is described below under the section entitled “—Sale, Exchange or Other Disposition of Shares of Common Stock.”

Subject to the discussion below under “—Foreign Account Tax Compliance Act (“FATCA”),” dividends paid to a Non-U.S. Holder generally will be subject to withholding of U.S. federal income tax at the rate of 30%, or such lower rate as may be specified by an applicable income tax treaty. If a dividend is effectively connected with the Non-U.S. Holder’s conduct of a trade or business in the United States (and, if an applicable tax treaty requires, is also attributable to a U.S. “permanent establishment” maintained by such Non-U.S. Holder), the dividend will not be subject to any withholding tax, provided certain certification requirements are satisfied (as described below), and subject to the discussion below under “—Foreign Account Tax Compliance Act (“FATCA”).” Instead, such dividends will be subject to U.S. federal income tax imposed on net income on the same basis that applies to U.S. persons generally. A corporate Non-U.S. Holder under certain circumstances also may be subject to an additional branch profits tax equal to 30%, or such lower rate as may be specified by an applicable income tax treaty, on a portion of its effectively connected earnings and profits for the taxable year.

To claim the benefit of a tax treaty or to claim exemption from withholding on the grounds that income is effectively connected with the conduct of a trade or business in the United States, a Non-U.S. Holder must provide a properly executed form, generally on IRS Form W-8BEN or IRS Form W-8BEN-E (or any appropriate successor or replacement forms), as applicable, certifying that it is not a U.S. person as defined under the Code and that it is entitled to benefits under the treaty or, if such Non-U.S. Holder’s common stock is held through certain foreign intermediaries or foreign partnerships, by satisfying the applicable certification and documentation requirements or Form W-8ECI for effectively connected income, or such successor forms as the IRS designates, prior to the payment of dividends.

These forms must be periodically updated. Non-U.S. Holders generally may obtain a refund of any excess amounts withheld by timely filing an appropriate claim for refund with the IRS.

A Non-U.S. Holder eligible for a reduced rate of or exemption from U.S. federal withholding tax may obtain a refund of any excess amounts withheld by timely filing an appropriate claim for refund with the IRS. Non-U.S. Holders should consult their tax advisors regarding their entitlement to benefits under an applicable income tax treaty and the specific manner of claiming the benefits of the treaty.

Sale, Exchange or Other Disposition of Shares of Common Stock

Subject to the discussions below under “—Information Reporting and Backup Withholding Tax” and “—Foreign Account Tax Compliance Act (“FATCA”),” a Non-U.S. Holder generally will not be subject to U.S. federal income tax on the sale, exchange or other disposition of shares of our Common Stock purchased in this offering unless:

●

the gain is effectively connected with a U.S. trade or business of the Non-U.S. Holder (and, if an applicable tax treaty requires, is also attributable to a U.S. “permanent establishment” maintained by such Non-U.S. Holder),

●

in the case of a Non-U.S. Holder who is an individual, such holder is present in the United States for a period or periods aggregating 183 or more days (as calculated for U.S. federal income tax purposes) during the taxable year of the disposition, and certain other conditions are satisfied, or

●

we are or have been a “United States real property holding corporation,” or “USRPHC,” as defined for U.S. federal income tax purposes, at any time during the shorter of (i) the five-year period ending on the date of disposition and (ii) the Non-U.S. Holder’s holding period for its shares of our Common Stock.

Gain described in the first bullet point above will be subject to tax at generally applicable U.S. federal income tax rates in the same manner as gain is taxable to U.S. Holders, unless an applicable income tax treaty provides otherwise. If such Non-U.S. Holder is a foreign corporation, such gain may also be subject to an additional “branch profits tax” at a 30% rate or such lower rate as may be specified by an applicable income tax treaty.

~~Certain~~An ~~Relationships~~individual ~~and~~Non-U.S. ~~Related~~Holder ~~Party~~described ~~Transactions~~in the second bullet point above generally will be subject to U.S. federal income tax at a flat rate of 30% (or at a reduced rate under an applicable income tax treaty) on any gain recognized on the sale, exchange or other disposition of our Common Stock, which may be offset by certain U.S.-source capital losses (even though such individual is not considered a resident of the United States).

~~Review~~With respect to the third bullet point above, a U.S. corporation is generally a USRPHC if the fair market value of ~~Related~~its ~~Person~~“United ~~Transactions~~States real property interests” equals or exceeds 50% of the fair market value of its real property and trade or business assets. We believe that we currently are, and expect to remain for the foreseeable future, a USRPHC. However, so long as our Common Stock is regularly traded on an established securities market, under applicable U.S. Treasury regulations, a Non-U.S. Holder generally will not be subject to U.S. federal income tax on any gain realized on the sale, exchange or other disposition of shares of our Common Stock, unless the Non-U.S. Holder has owned, directly or by attribution, more than 5% of our Common Stock during the shorter of the five-year period preceding the disposition or the Non-U.S. Holder’s holding period for the shares of our Common Stock (a “greater than 5% stockholder”). If our Common Stock ceases to be regularly traded on an established securities market, all Non-U.S. Holders would be subject to U.S. federal income tax on a sale or other taxable disposition of our Common Stock, and a purchaser may be required to withhold and remit to the IRS 15% of the purchase price, unless an exception applies.

WeInformation doReporting ~~not have a formal written policy for the review~~ and ~~approval~~Backup ofWithholding transactions with related parties. However, the Audit Committee Charter establishes the Audit Committee’s responsibility to review and approve any related party transaction and our Code of Ethics and Business Conduct provides guidelines for reviewing any related party transaction. In particular, our Code of Ethics and Business Conduct prohibits conflicts of interest and provides non-exclusive examples of conduct that would violate the prohibition. If any of our employees are unsure as to whether a conflict of interest exists, the employee is instructed to consult with the Company’s Compliance Officer.Tax

WePayments ~~annually~~of ~~require~~dividends ~~each~~on of our ~~directors~~common stock and ~~executive~~the ~~officers~~payment toof ~~complete~~the aproceeds ~~directors’~~from orthe ~~officers’~~sale ~~questionnaire,~~of ~~respectively, that~~our ~~elicits~~Common ~~information~~Stock ~~about~~effected ~~related~~at ~~party~~a ~~transactions~~U.S. ~~Our~~office ~~board~~of ~~and~~a ~~legal counsel annually review all transactions and relationships~~broker ~~disclosed~~will ingenerally ~~the~~not ~~directors’~~be ~~and~~subject ~~officers’~~to ~~questionnaires~~information reporting, ~~and~~provided the ~~board~~applicable ~~makes~~withholding aagent ~~formal~~does ~~determination~~not ~~regarding~~have ~~each~~actual ~~director’s independence.~~knowledge Ifor ~~a director were determined no longer~~ reason to beknow ~~independent,~~the ~~that~~Non-U.S. ~~director,~~Holder ifis hea orUnited ~~she~~States ~~serves~~person onand ~~any of~~ the ~~Audit~~Non-U.S. ~~Committee, the~~Holder ~~Nominating~~either ~~and~~certifies ~~Corporate~~its ~~Governance~~non-U.S. ~~Committee~~status, orsuch ~~the~~as ~~Compensation~~by ~~Committee,~~furnishing a ~~would~~valid beIRS ~~removed~~Form ~~from~~W-8BEN ~~such~~or ~~committee~~W-8BEN-E ~~prior to (~~or ~~otherwise would~~other ~~not~~documentation ~~participate~~upon ~~in)~~which ~~any~~it ~~future~~may ~~meetings~~rely ofto ~~the~~treat ~~committee. If~~ the ~~transaction~~payments ~~were~~as made to ~~present~~ a ~~conflict~~non-U.S. ofperson in ~~interest,~~accordance ~~the~~with ~~board would~~Treasury ~~determine~~Regulations ~~the~~or ~~appropriate~~otherwise ~~response~~establishes an exemption.

However, we are required to file information returns with the IRS in connection with any distribution on our common stock paid to the Non-U.S. Holder, regardless of whether any tax was actually withheld. Copies of information returns that are filed with the IRS may also be made available under the provisions of an applicable treaty or agreement to the tax authorities of the country in which the Non-U.S. Holder resides or is established.

Payment of the proceeds from the sale of our Common Stock effected at a foreign office of a broker generally will not be subject to information reporting or backup withholding. However, a sale of our common stock by a Non-U.S. Holder that is effected at a foreign office of a broker will be subject to information reporting and backup withholding if (i) the proceeds are transferred to an account maintained by the Non-U.S. Holder in the United States, (ii) the payment of proceeds or the confirmation of the sale is mailed to the Non-U.S. Holder at a U.S. address, or (iii) the sale has some other specified connection with the United States as provided in the Treasury Regulations, unless, in each case, the broker does not have actual knowledge or reason to know that the holder is a United States person and the documentation requirements described above are met or the Non-U.S. Holder otherwise establishes an exemption.

In addition, a sale of our Common Stock will be subject to information reporting if it is effected at a foreign office of a broker that is (i) a United States person, (ii) a “controlled foreign corporation” for U.S. federal income tax purposes, (iii) a foreign person 50% or more of whose gross income is effectively connected with the conduct of a U.S. trade or business for a specified three-year period or (iv) a foreign partnership, if at any time during its tax year (a) one or more of its partners are “U.S. persons,” as defined in the Treasury Regulations, who in the aggregate hold more than 50% of the income or capital interest in the partnership or (b) such foreign partnership is engaged in the conduct of a trade or business in the United States, in each case unless the broker does not have actual knowledge or reason to know that the holder is a United States person and the documentation requirements described above are met or an exemption is otherwise established. Backup withholding will apply if the sale is subject to information reporting and the broker has actual knowledge that the holder is a United States person.

~~Plan~~Foreign ofAccount ~~Distribution~~Tax Compliance Act (“FATCA”)

~~Each~~Certain ~~selling~~rules ~~stockholder~~may require withholding at a rate of 30% on dividends in respect of our Common Stock (but not on payments of gross proceeds from the ~~shares~~sale, exchange, or other disposition of our common stock) ~~and~~held ~~any~~by ofor ~~their~~through ~~pledgees~~certain foreign financial institutions (including investment funds), ~~assignees~~unless such institution (i) enters into, and ~~successors-in-interest~~complies ~~may~~with, ~~from~~an ~~time~~agreement with the Treasury Department to ~~time~~report, on an annual ~~sell~~basis, ~~any~~information orwith ~~all~~respect ofto ~~their~~interests ~~shares~~in, ofand ~~common~~accounts ~~stock~~maintained ~~covered~~by, ~~hereby~~the oninstitution ~~Nasdaq~~to the extent such interests or ~~any~~accounts are ~~other~~held ~~stock~~by ~~exchange,~~certain ~~market~~U.S. persons and by certain non-U.S. entities that are wholly or ~~trading~~partially ~~facility~~owned by U.S. persons and to withhold on certain payments or (ii) complies with an intergovernmental agreement between the United States and an applicable foreign country to report such information to its local tax authority, which will exchange such information with the U.S. authorities. An intergovernmental agreement between the ~~shares~~United States and an applicable foreign country may modify these requirements. Accordingly, the entity through which our Common Stock is held will affect the determination of ~~common~~whether ~~stock~~such ~~are~~withholding ~~traded~~is orrequired. Similarly, dividends in ~~private~~respect of ~~transactions~~our Common Stock held by an investor that is a non-financial non-U.S. ~~These~~entity ~~sales~~that ~~may~~does not qualify under certain exemptions will be subject to withholding at ~~fixed~~a orrate ~~negotiated~~of ~~prices.~~30%, Aunless ~~selling~~such ~~stockholder may~~entity ~~use~~either (i) certifies that such entity does not have any ~~one~~“substantial United States owners” or ~~more~~(ii) ofprovides certain information regarding the ~~following~~entity’s ~~methods~~“substantial ~~when~~United ~~selling~~States ~~securities:~~owners,” which we or the applicable withholding agent will in turn provide to the Treasury Department.

●Withholding under ~~ordinary~~FATCA ~~brokerage~~generally ~~transactions~~applies ~~and transactions in which the broker-dealer solicits purchasers; ● block trades in which the broker-dealer will attempt~~ to ~~sell~~payments ~~the~~of ~~securities~~dividends ason ~~agent~~our ~~but~~shares ~~may position~~ and ~~resell~~to apayments ~~portion~~ of ~~the~~gross ~~block~~proceeds asfrom ~~principal to facilitate the transaction; ● purchases by~~ a ~~broker-dealer~~sale asor ~~principal~~other ~~and~~disposition of ~~resale~~our byshares. ~~the~~Withholding ~~broker-dealer~~agents ~~for~~may, ~~its~~however, ~~account;~~rely ●on anproposed ~~exchange~~U.S. ~~distribution~~Treasury inRegulations ~~accordance~~that ~~with~~would ~~the~~no ~~rules~~longer ofrequire ~~the~~FATCA ~~applicable~~withholding on ~~exchange;~~payments ~~● privately negotiated transactions; ● settlement~~ of ~~short~~gross ~~sales;~~proceeds. ●A inwithholding ~~transactions~~agent ~~through broker-dealers that agree with the selling stockholders to sell a specified number of~~ such ~~securities~~as at a ~~stipulated~~broker ~~price~~will ~~per~~determine ~~security; ● through the writing or settlement of options or other hedging transactions,~~ whether ~~through an options exchange~~ or ~~otherwise;~~not ●to aimplement ~~combination~~gross ofproceeds ~~any~~FATCA ~~such methods of sale; or ● any other method permitted pursuant to applicable law~~withholding.

~~The~~If ~~selling~~a ~~stockholders~~dividend ~~may~~payment ~~also~~is ~~sell~~subject ~~securities~~to ~~under~~withholding ~~Rule~~both ~~144~~ under FATCA and the ~~Securities~~withholding ~~Act~~tax orrules ~~any~~discussed ~~other~~above ~~exemption~~in ~~from~~the ~~registration~~section ~~under~~entitled “Distributions”, the ~~Securities~~withholding ~~Act~~under FATCA may be credited against, ifand ~~available~~therefore reduce, ~~rather~~such ~~than~~other ~~under~~withholding ~~this~~tax. ~~prospectus~~Non-U.S. Holders of shares should consult their own tax advisors regarding these requirements and whether they may be relevant to their ownership and disposition of the shares.

~~Broker-dealers~~Under ~~engaged~~certain bycircumstances, ~~the~~a ~~selling stockholders may arrange for other brokers~~Non-~~dealers to participate in sales~~U.S. ~~Broker-dealers~~Holder ~~may~~will ~~receive~~be ~~commissions or~~eligible ~~discounts~~for ~~from~~refunds ~~the selling stockholders (~~or, ifcredits ~~any~~of ~~broker-dealer~~withholding ~~acts~~taxes asimposed ~~agent~~under ~~for~~FATCA ~~the~~by ~~purchaser~~filing ~~of securities, from the purchaser)~~a inUnited ~~amounts~~States tofederal beincome ~~negotiated,~~tax ~~but,~~return. ~~except~~Prospective asinvestors ~~set~~should ~~forth~~consult intheir atax ~~supplement~~advisors toregarding ~~this prospectus, in~~ the ~~case~~effect of anFATCA ~~agency~~on ~~transaction not in~~their ~~excess~~ownership ~~of a customary brokerage commission in compliance with FINRA Rule 2440;~~ and indisposition ~~the case~~ of aour ~~principal transaction a markup or markdown in compliance with FINRA IM-2440~~shares.

InProspective ~~connection~~investors ~~with~~should ~~the~~consult ~~sale~~their oftax ~~shares~~advisors ofregarding ~~common stock or interests therein,~~ the ~~selling~~possible ~~stockholders~~implications ~~may enter into hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales~~ of ~~the~~FATCA ~~shares~~tax ofon ~~common~~an ~~stock~~investment in ~~the~~our ~~course of~~Common ~~hedging the positions they assume~~Stock. The selling stockholders may also sell shares of common stock short and deliver these securities to close out their short positions, or loan or pledge the securities to broker-dealers that in turn may sell these shares of common stock. The selling stockholders may also enter into option or other transactions with broker-dealers or other financial institutions or create one or more derivative securities which require the delivery to such broker-dealer or other financial institution of shares of common stock offered by this prospectus, which shares of common stock such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).

~~The~~THE ~~selling~~UNITED ~~stockholders~~STATES ~~and~~FEDERAL ~~any~~INCOME ~~broker-dealers~~TAX orDISCUSSION ~~agents~~SET ~~that~~FORTH ~~are~~ABOVE ~~involved~~IS inINCLUDED ~~selling~~FOR ~~the~~GENERAL ~~shares~~INFORMATION ofONLY ~~common~~AND ~~stock~~MAY ~~may~~NOT beBE ~~deemed~~APPLICABLE ~~to be “underwriters”~~DEPENDING ~~within~~UPON ~~the~~AN ~~meaning~~INVESTOR’S ofPARTICULAR ~~the~~SITUATION. ~~Securities~~PROSPECTIVE ~~Act~~INVESTORS inSHOULD ~~connection~~CONSULT ~~with~~THEIR ~~such~~OWN ~~sales.~~TAX InADVISORS ~~such~~WITH ~~event,~~RESPECT ~~any~~TO ~~commissions~~ALL ~~received~~TAX ~~by such broker-dealers~~CONSEQUENCES orTO ~~agents~~THEM ~~and~~OF ~~any~~THE ~~profit~~ACQUISITION, onOWNERSHIP ~~the~~AND ~~resale~~DISPOSITION ofOF ~~the~~OUR ~~shares~~COMMON ofSTOCK, ~~common~~INCLUDING ~~stock~~THE ~~purchased~~TAX byCONSEQUENCES ~~them~~UNDER ~~may~~STATE, beLOCAL, ~~deemed to be underwriting commissions or~~FOREIGN ~~discounts~~AND ~~under~~OTHER ~~the~~TAX ~~Securities~~LAWS, ~~Act.~~THE ~~Each~~APPLICATION ~~selling~~OF ~~stockholder~~ANY ~~has~~INCOME ~~informed~~TAX usTREATIES ~~that~~TO itITS ~~does~~PARTICULAR ~~not~~CIRCUMSTANCES ~~have~~AND ~~any~~THE ~~written~~POSSIBLE orEFFECTS ~~oral~~OF ~~agreement~~ANY ~~or understanding,~~CHANGES ~~directly or indirectly, with any person to distribute the securities~~THEREIN.

We are required to pay certain fees and expenses incurred by us incident to the registration of the shares of common stock. We have agreed to indemnify the selling stockholders against certain losses, claims, damages and liabilities, including liabilities under the Securities Act.

The securities will be sold only through registered or licensed brokers or dealers if required under applicable state securities laws. In addition, in certain states, the securities covered hereby may not be sold unless they have been registered or qualified for sale in the applicable state or an exemption from the registration or qualification requirement is available and is complied with.

Under applicable rules and regulations under the Exchange Act, any person engaged in the distribution of the resale securities may not simultaneously engage in market making activities with respect to the Common Stock for the applicable restricted period, as defined in Regulation M, prior to the commencement of the distribution. In addition, the selling stockholders will be subject to applicable provisions of the Exchange Act and the rules and regulations thereunder, including Regulation M, which may limit the timing of purchases and sales of the Common Stock by the selling stockholders or any other person. We will make copies of this prospectus available to the selling stockholders and have informed them of the need to deliver a copy of this prospectus to each purchaser at or prior to the time of the sale (including by compliance with Rule 172 under the Securities Act).

~~Description~~SELLING ~~of Common Stock~~STOCKHOLDERS

WeUp ~~are authorized~~ to ~~issue 200~~2,~~000~~883,~~000~~238 shares of ~~common~~Common ~~stock.~~Stock Asare ofcurrently ~~October~~being 4,offered ~~2024,~~by wethe ~~had~~selling ~~10,770,416 shares of common stock issued and outstanding~~stockholders.

~~Dividend~~December ~~Rights~~2025 Offering

~~Holders~~On December 23, 2025, we entered into the Purchase Agreements with certain investors for the sale and issuance in a non-brokered private placement of ~~our~~an ~~common~~aggregate ~~stock~~of ~~will~~1,922,159 beshares ~~entitled~~of Common Stock, at a purchase price of $16.25 per share. In addition, the Company agreed to ~~receive~~issue ~~dividends~~to ~~when~~these investors, asthe ~~and~~Warrants ifto ~~declared~~purchase byup ~~our~~to ~~board~~an aggregate of 961,079 ~~out~~shares of ~~funds~~Common ~~legally~~Stock. ~~available~~The ~~for~~Warrants ~~their~~have ~~payment~~an exercise price of $23.00 per share and will expire two years thereafter. The terms of such Warrants preclude a holder thereof from exercising such holder’s Warrants, ~~subject~~and the Company from giving effect to such exercise, if after giving effect to the ~~rights~~issuance of Common Stock upon such exercise, the holder (together with the holder’s affiliates) would beneficially own in excess of ~~holders~~4.99% (or at the election of ~~any~~the ~~preferred~~applicable ~~stock~~investors, ~~that~~9.99%) weof ~~may~~the ~~issue~~number of shares of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon such exercise.

~~Voting~~The ~~Rights~~Common Stock and Warrants were offered in a private placement under Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder.

~~Holders~~Relationship ofwith ~~our common stock are entitled to one vote per share on all matters as to which holders of common stock are entitled to vote. Holders of not less than a majority of all of~~ the ~~shares~~Selling ~~of the stock entitled to vote at any meeting of stockholders constitute a quorum unless otherwise required by law.~~Stockholders

~~Election~~None of ~~Directors~~the selling stockholders has, or within the past three years has had, any position, office or other material relationship with us.

~~Our~~Information ~~directors~~About ~~are~~Selling ~~elected~~Stockholders by a plurality of the votes cast by the holders of our common stock in a meeting at which a quorum is present. “Plurality” means that the individuals who receive the largest number of votes cast are elected as directors, up to the maximum number of directors to be chosen at the meeting. Our stockholders may vote to remove any director or the entire board of directors, with or without cause, by the affirmative vote of two-thirds (2/3) of shares entitled to vote at an election of the directors.Offering

~~Liquidation~~The shares of Common Stock being offered by the selling stockholders are those previously issued to the selling stockholders and those issuable to the selling stockholders upon exercise of the Warrants. For additional information regarding the issuance of the Common Stock and Warrants, see “—December 2025 Offering” above. We are registering the Common Stock and the Warrant Shares in order to permit the selling stockholders to offer the shares for resale from time to time.

InThe table below lists the ~~event~~selling stockholders and other information regarding the ownership of ~~any~~the ~~liquidation,~~shares ~~dissolution~~of orCommon ~~winding~~Stock upby each of the selling ~~Company,~~stockholders. ~~holders~~The second column lists the number of ~~our~~shares ~~common~~of ~~stock~~Common ~~are~~Stock ~~entitled~~owned toby ~~share~~each ~~ratably~~selling instockholder, based on its ownership ~~all~~of ~~assets~~the ~~remaining~~shares ~~after~~of ~~payment~~Common Stock and securities convertible into shares of ~~liabilities~~Common Stock, ~~subject~~as toof ~~prior~~January ~~distribution~~31, ~~rights~~2026, assuming exercise of ~~preferred~~the ~~stock~~securities ~~then~~convertible ~~outstanding~~into shares of Common Stock held by the selling stockholders on that date, without regard to any limitations on exercises.

~~Redemption~~The third column lists the shares of Common Stock being offered by this prospectus by the selling stockholders.

~~Our~~This ~~common~~prospectus ~~stock~~generally iscovers ~~not~~the ~~redeemable~~resale orof the sum of (i) the maximum number of shares of Common Stock issued on December 23, 2025 and (ii) the maximum number of Warrant Shares. The table below assumes the outstanding Warrants were exercised in full as of the trading day immediately preceding the date this registration statement was initially filed with the SEC, each as of the trading day immediately preceding the applicable date of determination and all subject to adjustment as provided in the Purchase Agreements, without regard to any limitations on the exercise of the Warrants. The fourth column assumes the sale of all of the shares offered by the selling stockholders pursuant to this prospectus. The fifth column lists the percentages of shares of Common Stock owned by the selling stockholders after this offering, taking account of any limitations on exercise set forth in the applicable convertible securities.

Other Provisions

All our outstanding common stock is, and the common stock offered by this prospectus or obtainable upon exercise or conversion of other securities offered hereby, if issued in the manner described in this prospectus, will be, fully paid and non-assessable.

You should read the prospectus relating to any offering of common stock, or of securities convertible, exchangeable or exercisable for common stock, for the terms of the offering, including the number of shares of common stock offered, any initial offering price and market prices relating to the common stock.

This section is a summary and may not describe every aspect of our common stock that may be important to you. We urge you to read applicable Nevada law, our articles of incorporation, as amended, and our amended and restated bylaws, as currently in effect, because they, and not this description, define your rights as a holder of our common stock. See “Where You Can Find More Information” on page 16 of this prospectus for information on how to obtain copies of these documents.

~~Interest~~Under the terms of ~~Named~~the ~~Experts~~Warrants, ~~and~~a ~~Counsel~~selling stockholder may not exercise the Warrants if, after giving effect to the issuance of Common Stock upon such exercise, the selling stockholder (together with the selling stockholder’s affiliates) would beneficially own in excess of 4.99% (or at the election of the applicable selling stockholder, 9.99%) of the number of shares of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon such exercise. The number of shares in the second column does not reflect this limitation. The selling stockholders may sell all, some or none of their shares in this offering. See “Plan of Distribution” for further information regarding the selling stockholders’ method of distributing these shares.

No expert or counsel named in this prospectus as having prepared or certified any part of this prospectus or having given an opinion upon the validity of the securities being registered or upon other legal matters in connection with the registration or offering of the common stock was employed on a contingency basis, or had, or is to receive, in connection with the offering, a substantial interest, direct or indirect, in the Company. Nor was any such person connected with the Company as a promoter, managing or principal underwriter, voting trustee, director, officer of employee.

Name of Selling Stockholder	Number of shares of Common Stock Beneficially Owned Prior to Offering		Maximum Number of shares of Common Stock to be Sold Pursuant to this Prospectus	Number of shares of Common Stock Beneficially Owned After Offering		Percentage of Common Stock Owned After Offering
AWEA Goldminers Fund (1)		92,307	92,307 (2)		0		0	%
Boathouse Row I LP (3)		535,637	46,985 (4)		488,652		2.97	%
Boathouse Row II LP (5)		346,195	29,077 (6)		317,118		1.93	%
Boathouse Row Offshore Minyan LTD (7)		184,423	16,246 (8)		173,177		1.05	%
GUNDYCO (9)		135,000	135,000 (10)		0		0	%
Franklin Gold and Precious Metals Fund (11)		540,000	540,000 (12)		0		0	%
FTIF Franklin Gold and Precious Metals Fund (13)		300,000	300,000 (14)		0		0	%
Higley Holding AS (15)		4,500	4,500 (16)		0		0	%
Jayvee & Co. (17)		415,386	415,386 (18)		0		0	%
Jon D Gruber TTEE Jon D and Linda W Gruber Trust UA DTD 07/04/2004 (19)		184,620	184,620 (20)		0		0	%
Kings Road Capital Global Macro Fund LTD (21)		112,215	52,500 (22)		59,715		*
Libra Fund LP (23)		450,000	450,000 (24)		0		0	%
NBIMC Quantitative Strategies (2017) Fund (25)		131,561	131,561 (26)		0		0	%
NBIMC Quantitative Strategies Fund Class N (27)		6,901	6,901 (28)		0		0	%
Orca Capital AG (29)		46,155	46,155 (30)		0		0	%
Pala Investments Limited (31)		9,000	9,000 (32)		0		0	%
Porter Partners LP (33)		303,916	93,000 (34)		210,916		1.28	%
NewGen Equity Long/Short Fund (35)		191,135	120,000 (36)		71,135		*
UMBTRU & Co. (37)		195,000	195,000 (38)		0		0	%
Boris Shrayer TTEE 2011 Trust FBO Boris Shrayer Descendants and Family UA DTD 11/16/2011 (39)		15,000	15,000 (40)		0		0	%

~~Legal~~* ~~Matters~~Represents less than 1%.

~~The~~† ~~validity~~Beneficial ownership includes Common Stock as to which a person or group has sole or shared voting power or dispositive power. Common Stock registered hereunder, as well as Common Stock subject to options, warrants or other convertible securities that are exercisable or convertible currently or within 60 days of January 31, 2026, are deemed outstanding for purposes of computing the ~~issuance~~number of shares beneficially owned and percentage ownership of the ~~securities~~person ~~offered~~or ~~hereby~~group ~~will~~holding besuch ~~passed~~shares ~~upon~~of Common Stock, options, warrants or convertible securities, but are not deemed outstanding for uscomputing bythe ~~Davis~~percentage ~~Graham~~of &any ~~Stubbs~~other ~~LLP~~person.

~~Experts~~(1) Bernhard Graf has sole voting and dispositive power over the securities held for the account of this selling stockholder. The selling stockholder’s address is Grabenstrasse 27, 6340 Baar, Switzerland.

The consolidated financial statements of the Company as of April 30, 2023 and 2024, incorporated in this prospectus by reference to our Annual Report on Form 10-K for the year ended April 30, 2024 (which contains an explanatory paragraph relating to the Company’s ability to continue as a going concern), have been audited by Marcum LLP, independent registered public accounting firm, as set forth in their report, and are incorporated by reference in reliance upon such report given on the authority of such firm as experts in accounting and auditing.

The estimate of our mineral resources with respect to the CK Gold Project incorporated by reference in this prospectus have been included in reliance on a technical report summary prepared by Gustavson Associates, LLC, John A. Wells and Mark C. Shutty.

Where You Can Find More Information

(2)	Represents 61,538 Shares and 30,769 Warrant Shares.
(3)	Jordan Hymowitz, Gabe Holmes, Anthony DiNovo and Jeff Bowers have shared voting and dispositive power over the securities held for the account of this selling stockholder. The selling stockholder’s address is Philadelphia Financial Management of San Francisco, LLC, 450 Sansome St., Suite 1500, San Francisco, CA 94111.
(4)	Represents 31,323 Shares and 15,662 Warrant Shares.
(5)	Jordan Hymowitz, Gabe Holmes, Anthony DiNovo and Jeff Bowers have shared voting and dispositive power over the securities held for the account of this selling stockholder. The selling stockholder’s address is Philadelphia Financial Management of San Francisco, LLC, 450 Sansome St., Suite 1500, San Francisco, CA 94111.
(6)	Represents 19,385 Shares and 9,692 Warrant Shares.
(7)	Jordan Hymowitz, Gabe Holmes, Anthony DiNovo and Jeff Bowers have shared voting and dispositive power over the securities held for the account of this selling stockholder. The selling stockholder’s address is Philadelphia Financial Management of San Francisco, LLC, 450 Sansome St., Suite 1500, San Francisco, CA 94111.
(8)	Represents 10,831 Shares and 5,415 Warrant Shares.
(9)	Matthew Zabloski has sole voting and dispositive power over the securities held for the account of this selling stockholder. The selling stockholder’s address is 1199 W. Hastings St., Suite 1500, Vancouver, BC V6E 3T2.
(10)	Represents 15,000 Shares and 7,500 Warrant Shares held on behalf of Delbrook Resource Opportunities Fund and 75,000 Shares and 37,500 Warrant Shares held on behalf of Delbrook Resource Opportunities Master Fund LP.
(11)	Franklin Advisers, Inc., an SEC registered broker-dealer, is the investment adviser to Franklin Gold and Precious Metals Fund. Stephen Land is the portfolio manager for Franklin Gold and Precious Metals Fund. Mr. Land may be deemed to have voting and investment power over the common stock held by Franklin Gold and Precious Metals Fund. Mr. Land disclaims beneficial ownership of such shares, except to the extent of any pecuniary interest therein. The selling stockholder’s address is c/o Franklin Advisers, Inc., One Franklin Parkway, San Mateo, CA 94403.
(12)	Represents 360,000 Shares and 180,000 Warrant Shares.
(13)	Franklin Advisers Inc., an SEC registered broker-dealer, is the investment adviser to FTIF Franklin Gold and Precious Metals Fund (“Franklin Gold and Precious Metals Fund”). Stephen Land is the portfolio manager for Franklin Gold and Precious Metals Fund. Mr. Land may be deemed to have voting and investment power over the common stock held by Franklin Gold and Precious Metals Fund. Mr. Land disclaims beneficial ownership of such shares, except to the extent of any pecuniary interest therein. The selling stockholder’s address is c/o Franklin Advisers, Inc., 8A Rue Albert Borschette, L-1246 Luxembourg.
(14)	Represents 200,000 Shares and 100,000 Warrant Shares.
(15)	Philip Higley and Beate Christin Higley Storrusten have shared voting and dispositive power over the securities held for the account of this selling stockholder. The selling stockholder’s address is Kniveveien 72, 3036, Drammen, Viken, Norway.
(16)	Represents 3,000 Shares and 1,500 Warrant Shares.

We have filed with the SEC a registration statement on Form S-1 under the Securities Act with respect to the shares of common stock being offered by this prospectus. This prospectus does not contain all of the information in the registration statement of which this prospectus is a part and the exhibits to such registration statement. For further information with respect to us and the common stock offered by this prospectus, we refer you to the registration statement of which this prospectus is a part and the exhibits to such registration statement. Statements contained in this prospectus as to the contents of any contract or any other document are not necessarily complete, and in each instance, we refer you to the copy of the contract or other document filed as an exhibit to the registration statement of which this prospectus is a part. Each of these statements is qualified in all respects by this reference.

You may read and copy the registration statement of which this prospectus is a part, as well as our reports, proxy statements and other information, at the SEC’s Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for more information about the operation of the Public Reference Room. The SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC, including U.S. Gold Corp. The SEC’s Internet site can be found at http://www.sec.gov. You may also request a copy of these filings, at no cost, by writing us at 1910 E. Idaho Street, Suite 102-Box 604, Elko, Nevada 89801, or telephoning us at (800) 557-4550.

We are subject to the information and reporting requirements of the Exchange Act and, in accordance with this law, file periodic reports, proxy statements and other information with the SEC. These periodic reports, proxy statements and other information are available for inspection and copying at the SEC’s public reference facilities and the website of the SEC referred to above. We also maintain a website at www.usgoldcorp.gold. You may access these materials free of charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC. Information contained on our website is not a part of this prospectus and the inclusion of our website address in this prospectus is an inactive textual reference only.

Disclosure of Commission Position on Indemnification for Securities Act Liabilities

(17)	Benoit Gervais, as Portfolio Manager, has sole voting and dispositive power over the securities held for the account of this selling stockholder. The selling stockholder’s address is 180 Queen St. West, Toronto, M5V 3K1, ON, CA.
(18)	Represents 27,000 Shares and 13,500 Warrant Shares held on behalf of Jayvee & Co. ITF – Canada Life Global Resource Fund; 55,000 Shares and 27,500 Warrant Shares held on behalf of Jayvee & Co. ITF – Canada Life Precious Metals Fund; 2,000 Shares and 1,000 Warrant Shares held on behalf of Jayvee & Co. ITF – Great West Life Canadian Resources Fund 6.07A; 25,000 Shares and 12,500 Warrant Shares held on behalf of Jayvee & Co. ITF – IG Mackenzie Global Resources Fund (formerly known as Jayvee & Co. ITF – IG Mackenzie Global Natural Resources Fund); 7,000 Shares and 3,500 Warrant Shares held on behalf of Jayvee & Co. ITF – IG Mackenzie Global Resources Fund II (formerly known as Jayvee & Co. – IG Mackenzie Global Natural Resources Fund II); 55,000 Shares and 27,500 Warrant Shares held on behalf of Jayvee & Co. ITF – IG Mackenzie Global Precious Metals Fund; 4,000 Shares and 2,000 Warrant Shares held on behalf of Jayvee & Co. ITF – London Life Canadian Resources Fund 2.37A; 25,000 Shares and 12,500 Warrant Shares held on behalf of Jayvee & Co. ITF – Mackenzie Global Resource Fund; 4,000 Shares and 2,000 Warrant Shares held on behalf of Jayvee & Co. ITF – Mackenzie Global Resource Fund II; and 72,924 Shares and 36,462 Warrant Shares held on behalf of Jayvee & Co. ITF – Mackenzie Precious Metals Fund.
(19)	Jon D. Gruber has sole voting and dispositive power over the securities held for the account of this selling stockholder. The selling stockholder’s address is 300 Tamal Plaza, Ste. 215, Corte Madera, CA 94925.
(20)	Represents 123,080 Shares and 61,540 Warrant Shares.
(21)	Loni Aslan Saul has sole voting and dispositive power over the securities held for the account of the selling stockholder. The selling stockholder’s address is DT1 Ellington Building, Unit 603, Downtown, Dubai, United Arab Emirates.
(22)	Represents 35,000 Shares and 17,500 Warrant Shares.
(23)	Ranjan Tandon has sole voting and dispositive power over the securities held for the account of this selling stockholder. The selling stockholder’s address is 150 East 52^nd Street, 23^rd Floor, New York, NY 10022.
(24)	Represents 300,000 Shares and 150,000 Warrant Shares.
(25)	Mark Holleran, VP – Equity, has sole voting and dispositive power over the securities held for the account of this selling stockholder. The selling stockholder’s address is 140 Carleton St., Suite 400, Fredericton, NB E3B 3T4.
(26)	Represents 87,707 Shares and 43,854 Warrant Shares.
(27)	Mark Holleran, VP – Equity, has sole voting and dispositive power over the securities held for the account of this selling stockholder. The selling stockholder’s address is 140 Carleton St., Suite 400, Fredericton, NB, E3B 3T4.
(28)	Represents 4,601 Shares and 2,300 Warrant Shares.
(29)	Thomas Koenig, Executive Board Member, has sole voting and dispositive power over the securities held for the account of this selling stockholder. The selling stockholder’s address is Sperlring 2, 85276 Pfaffenhofen, Germany.
(30)	Represents 30,770 Shares and 15,385 Warrant Shares.
(31)	Vladimir Iorich and Tom Solomon have shared voting and dispositive power over the securities held for the account of this selling stockholder. The selling stockholder’s address is Gotthardstrasse 26, 6300 Zug, Switzerland.
(32)	Represents 6,000 Shares and 3,000 Warrant Shares.
(33)	Jeffrey H. Porter, General Partner, has sole voting and dispositive power over the securities held for the account of this selling stockholder. The selling stockholder’s address is 5686 Hall Rd., Santa Rosa, CA 95401.
(34)	Represents 62,000 Shares and 31,000 Warrant Shares.
(35)	David Dattels, Chris Rowan and Norm Chang, as Portfolio Managers of NewGen Equity Long/Short Fund have shared voting and dispositive power over the securities held for the account of this selling stockholder. The selling stockholder’s address is Regatta Office Park, Windward Three 4^th Floor, West Bay Road, Grant Cayman, Cayman Islands KY 10003.
(36)	Represents 80,000 Shares and 40,000 Warrant Shares.
(37)	Gregory M. Orrell, President of Orrel Capital Management/OCM Gold Fund, has sole voting and dispositive power over the securities held for the account of this selling stockholder. The selling stockholder’s address is 2600 Kitty Hawk Road, Suite 119, Livermore, CA 94551.
(38)	Represents 130,000 Shares and 65,000 Warrant Shares.
(39)	Boris Shrayer has sole voting and dispositive power over the securities held for the account of this selling stockholder. The selling stockholder’s address is 80 Bryam Ridge Rd., Armonk, NY 10504.
(40)	Represents 10,000 Shares and 5,000 Warrant Shares.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to our directors, officers, and persons controlling us pursuant to the provisions described in Item 14 of the registration statement of which this prospectus is a part or otherwise, we have been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. In the event that a claim for indemnification against such liabilities (other than our payment of expenses incurred or paid by our directors, officers, or controlling persons in the successful defense of any action, suit, or proceeding) is asserted by our directors, officers, or controlling persons in connection with the common stock being registered, we will, unless in the opinion of our counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by us is against public policy as expressed in the Securities Act and will be governed by the final adjudication of the issue.

~~Documents~~PLAN ~~Incorporated~~OF ~~by Reference~~DISTRIBUTION

~~The~~We ~~SEC~~are ~~permits~~registering us2,883,238 toshares ~~incorporate~~of byCommon ~~reference~~Stock, ~~the~~which ~~information~~are ~~contained~~comprised inof ~~documents~~(i) we1,922,159 ~~have~~shares ~~filed~~of ~~with~~Common Stock issued to the ~~SEC,~~selling stockholders ~~which~~in ~~means~~connection ~~that~~with wea ~~can disclose~~private ~~important~~placement ~~information~~and to(ii) ~~you~~961,079 byshares ~~referring~~of ~~you~~Common toStock ~~those~~issuable ~~documents~~upon ~~rather~~the ~~than~~exercise ~~including~~of ~~them~~the Warrants into ~~this~~permit ~~prospectus.~~the ~~The~~resale ~~information incorporated~~of these shares by ~~reference~~the isholders ~~considered~~of such shares from time to betime ~~part~~after the date of this prospectus. ~~and~~We ~~you~~are registering ~~should~~them ~~read~~pursuant itto contractual provisions entered into in connection with the ~~same~~private ~~care~~placement. ~~that~~We ~~you~~will ~~read~~not ~~this~~receive ~~prospectus.~~any of Wethe ~~are~~proceeds ~~incorporating~~from the sale by ~~reference~~the selling stockholders of the ~~documents~~shares ~~listed~~of ~~below,~~Common ~~which~~Stock. weWe ~~have~~will ~~already~~bear ~~filed~~all ~~with~~fees and expenses incident to our obligation to register the ~~SEC:~~Common Stock.

●Each selling ~~our~~stockholder ~~Annual~~of ~~Report on Form 10-K for~~ the ~~year~~shares ~~ended~~of ~~April~~Common ~~30,~~Stock ~~2024,~~and ~~filed~~any ~~with~~of ~~the~~their ~~SEC on July 29~~pledgees, ~~2024;~~assignees ●and ~~our Quarterly Report on Form 10~~successors-Qin-interest ~~for~~may, ~~the~~from ~~quarterly~~time ~~period~~to ~~ended July 31~~time, sell ~~2024,~~any ~~filed~~or ~~with~~all ~~the~~of ~~SEC~~their onshares ~~September~~of ~~16,~~Common ~~2024;~~Stock ●covered ~~Amendment~~hereby ~~No. 1 to our Annual Report~~ on ~~Form~~NASDAQ ~~10-K~~or ~~for~~any ~~the~~other ~~year~~stock ~~ended April 30~~exchange, ~~2024,~~market ~~filed~~or ~~with~~trading ~~the~~facility ~~SEC~~ on ~~August 28, 2024; and ●~~ which the ~~description~~shares of ~~our~~Common ~~common~~Stock ~~stock~~are ~~contained~~traded or in ~~our~~private ~~Annual~~transactions. ~~Report~~These onsales ~~Form~~may ~~10-K~~be ~~for~~at ~~the~~fixed ~~year~~or ~~ended~~negotiated ~~April~~prices. ~~30,~~A ~~2021,~~selling ~~filed~~stockholder may ~~with~~use ~~the SEC on July 29, 2021, including~~ any ~~subsequent~~one ~~amendment~~ or ~~report~~more ~~filed~~of ~~for~~ the ~~purpose~~following ofmethods ~~updating~~when ~~such~~selling ~~description.~~securities:

~~We also~~● ~~incorporate~~ordinary bybrokerage ~~reference~~transactions ~~any future filings (other than current reports furnished under Item 2.02 or Item 7.01 of Form 8-K~~ and ~~exhibits filed~~transactions onin ~~such~~which ~~form that are related to such items unless such Form 8-K expressly provides to~~ the contrary) made with the SEC pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, including those made after the date of the initial filing of the registration statement of which this prospectus is a part and prior to effectiveness of such registration statement, until we file a postbroker-~~effective amendment~~dealer ~~that~~solicits indicates the termination of the offering of the securities made by this prospectus and such future filings will become a part of this prospectus from the respective dates that such documents are filed with the SEC. Any statement contained herein or in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes hereof to the extent that a statement contained herein or in any other subsequently filed document which is also incorporated or deemed to be incorporated herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this prospectus.purchasers;

~~We will~~● ~~provide~~block ~~without~~trades ~~charge~~in towhich ~~each~~the ~~person~~broker-dealer towill ~~whom~~attempt ato ~~copy~~sell ofthe ~~this~~securities ~~prospectus~~as isagent ~~delivered,~~but ~~upon~~may ~~written~~position orand ~~oral~~resell ~~request,~~ a ~~copy~~portion of ~~any or all of~~ the ~~reports~~block oras ~~documents~~principal ~~that have been incorporated by reference in this prospectus but not delivered with this prospectus (other than an exhibit~~ to ~~these~~facilitate ~~filings,~~the ~~unless we have specifically incorporated that exhibit by reference in this prospectus). Any such request should be addressed to us at:~~transaction;

~~U.S. Gold~~● ~~Corp.~~purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

~~Attention: Corporate~~● ~~Secretary~~an exchange distribution in accordance with the rules of the applicable exchange;

~~1910 E.~~● ~~Idaho~~privately ~~Street,~~negotiated ~~Suite 102-Box 604~~transactions;

~~Elko, NV~~● ~~89801~~settlement of short sales;

~~(800) 557~~● in transactions through broker-~~4550~~dealers that agree with the selling stockholders to sell a specified number of such shares of Common Stock at a stipulated price per security;

~~You may~~● ~~also~~through ~~access~~ the ~~documents~~writing ~~incorporated~~or bysettlement ~~reference~~of inoptions ~~this~~or ~~prospectus~~other ~~through~~hedging ~~our website at www.usgoldcorp.gold. Except for the specific incorporated documents listed above~~transactions, nowhether ~~information available on or~~ through ~~our~~an ~~website~~options ~~shall~~exchange ~~be deemed to be incorporated in this prospectus~~ or ~~the registration statement of which it forms a part.~~otherwise;

●

a combination of any such methods of sale; or

●

any other method permitted pursuant to applicable law.

The selling stockholders may also sell shares of Common Stock under Rule 144 or any other exemption from registration under the Securities Act, if available, rather than under this prospectus.

Broker-dealers engaged by the selling stockholders may arrange for other brokers-dealers to participate in sales. Broker-dealers may receive commissions or discounts from the selling stockholders (or, if any broker-dealer acts as agent for the purchaser of securities, from the purchaser) in amounts to be negotiated, but, except as set forth in a supplement to this prospectus, in the case of an agency transaction not in excess of a customary brokerage commission in compliance with FINRA Rule 2440; and in the case of a principal transaction a markup or markdown in compliance with FINRA IM-2440.

In connection with the sale of shares of Common Stock or interests therein, the selling stockholders may enter into hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales of the shares of Common Stock in the course of hedging the positions they assume. The selling stockholders may also sell shares of Common Stock short and deliver these securities to close out their short positions, or loan or pledge the securities to broker-dealers that in turn may sell these shares of Common Stock. The selling stockholders may also enter into option or other transactions with broker-dealers or other financial institutions or create one or more derivative securities which require the delivery to such broker-dealer or other financial institution of shares of Common Stock offered by this prospectus, which shares of Common Stock such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).

1The selling stockholders may pledge or grant a security interest in some or all of the Common Stock owned by them and,~~400~~ if they default in the performance of their secured obligations,~~000~~ the pledgees or secured parties may offer and sell the Common Stock from time to time pursuant ~~Shares~~to this prospectus or any amendment to this prospectus under Rule 424(b)(3) or other applicable provision of the Securities Act amending, if necessary, the list of selling stockholders to include the pledgee, transferee or other successors in interest as selling stockholders under this prospectus. The selling stockholder also may transfer and donate the Common Stock in other circumstances in which case the transferees, donees, pledgees or other successors in interest will be the selling beneficial owners for purposes of this prospectus.

~~PROSPECTUS~~The selling stockholders and any broker-dealers or agents that are involved in selling the shares of Common Stock may be deemed to be “underwriters” within the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers or agents and any profit on the resale of the shares of Common Stock purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act. Each selling stockholder has informed us that it does not have any written or oral agreement or understanding, directly or indirectly, with any person to distribute the securities.

~~October~~Under 7the securities laws of some states, ~~2024~~the Common Stock may be sold in such states only through registered or licensed brokers or dealers. In addition, in some states the Common Stock may not be sold unless such shares have been registered or qualified for sale in such state or an exemption from registration or qualification is available and is complied with.

There can be no assurance that any selling stockholder will sell any or all of the Common Stock registered pursuant to the Registration Statement of which this prospectus forms a part.

We are required to pay certain fees and expenses incurred by us incident to the registration of the shares of Common Stock. We have agreed to indemnify the selling stockholders against certain losses, claims, damages and liabilities, including liabilities under the Securities Act.

Under applicable rules and regulations under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), any person engaged in the distribution of the resale securities may not simultaneously engage in market making activities with respect to the Common Stock for the applicable restricted period, as defined in Regulation M, prior to the commencement of the distribution. In addition, the selling stockholders will be subject to applicable provisions of the Exchange Act and the rules and regulations thereunder, including Regulation M, which may limit the timing of purchases and sales of the Common Stock by the selling stockholders or any other person. We will make copies of this prospectus available to the selling stockholders and have informed them of the need to deliver a copy of this prospectus to each purchaser at or prior to the time of the sale (including by compliance with Rule 172 under the Securities Act).

LEGAL MATTERS

Certain legal matters will be passed upon for us by Troutman Pepper Locke LLP, Boston, Massachusetts. Certain legal matters in connection with this offering related to Nevada law will be passed upon for us by Brownstein Hyatt Farber Schreck, LLP, Las Vegas, Nevada.

EXPERTS

The consolidated financial statements of U.S. Gold Corp. and subsidiaries as of and for the years ended April 30, 2025 and 2024, incorporated herein by reference (which contains an explanatory paragraph relating to the Company’s ability to continue as a going concern), have been audited by Marcum LLP, independent registered public accounting firm, as set forth in their report, and are incorporated by reference in reliance upon such report given on the authority of such firm as experts in accounting and auditing.

The estimates of our mineral reserves and mineral resources as of January 6, 2025, with respect to the CK Gold Project incorporated by reference in this prospectus have been included in reliance upon a technical report summary prepared by AKF Mining Services Inc., Drift Geo LLC, John Wells, Samuel Engineering, Inc., Tierra Group International, Ltd., and the Company.

WHERE YOU CAN FIND MORE INFORMATION

We have filed with the SEC a registration statement under the Securities Act relating to the offering of these securities. The registration statement, including the attached exhibits, contains additional relevant information about us and the securities. This prospectus does not contain all of the information set forth in the registration statement and the exhibits and schedules thereto. For further information with respect to the Company and its common stock, reference is made to the registration statement and the exhibits and any schedules filed therewith. Statements contained in this prospectus as to the contents of any contract or other document referred to are not necessarily complete and in each instance, if such contract or document is filed as an exhibit, reference is made to the copy of such contract or other document filed as an exhibit to the registration statement, each statement being qualified in all respects by such reference.

We are subject to the information reporting requirements of the Exchange Act, and we file periodic reports and other information with the SEC. These filings include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and proxy statements on Schedule 14A, as well as any amendments to those reports and proxy statements, which are available free of charge through our website as soon as reasonably practicable after we file them with, or otherwise furnish them to, the SEC. Our Internet website address is www.usgoldcorp.com. Our website and the information contained on, or that can be accessed through, the website will not be deemed to be incorporated by reference in, and are not considered part of, this prospectus. You should not rely on any such information in making your decision whether to purchase our securities. The SEC also maintains a website at www.sec.gov that contains reports, proxy and information statements and other information regarding us and other issuers that file electronically with the SEC.

INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE

The SEC allows us to “incorporate by reference” information we file with it into this prospectus, which means that we can disclose important information to you by referring you to other documents. The information incorporated by reference is considered to be part of this prospectus, and information that we file later with the SEC and incorporate by reference will automatically update and supersede this information. We incorporate by reference into this prospectus the documents listed below and all future filings made by us (including filings made by us after the date of the initial filing of the registration statement of which this prospectus forms a part and prior to the effectiveness of such registration statement) with the SEC under Section 13(a), 13(c), 14 or 15(d) of the Exchange Act, except for information “furnished” under Items 2.02, 7.01 or 9.01 on Form 8-K or other information “furnished” to the SEC which is not deemed filed and not incorporated in this prospectus, until the termination of the offering of securities described in the applicable prospectus supplement.

We hereby incorporate by reference the following documents:

●

our Annual Report on Form 10-K for the year ended April 30, 2025, filed with the SEC on July 29, 2025, as amended by our Annual Report on Form 10-K/A, filed with the SEC on October 10, 2025;

●

our Quarterly Report on Form 10-Q for the quarters ended (i) July 31, 2025, filed with the SEC on September 15, 2025, as amended by our Quarterly Report on Form 10-Q/A, filed with the SEC on October 10, 2025, and (ii) October 31, 2025, filed with the SEC on December 10, 2025;

●

our Current Reports on Form 8-K filed with the SEC on May 9, 2025; June 9, 2025; August 11, 2025; September 16, 2025; October 10, 2025; and December 23, 2025; and

●

the description of our Common Stock included in our registration statements on Form 8-A12G filed with the SEC on January 27, 2000, and any amendment or report filed for the purpose of further updating such descriptions.

Any statement contained in this prospectus or in a document incorporated by reference into this prospectus will be deemed to be modified or superseded for purposes of this prospectus to the extent that a statement contained in this prospectus modifies or supersedes such statement. Any statement so modified or superseded will not be deemed, except as so modified or superseded, to constitute a part of this prospectus.

We will furnish without charge to you, on written or oral request, a copy of any or all of the documents incorporated by reference, including exhibits to these documents. You should direct any requests for documents in writing to: U.S. Gold Corp., 1910 E. Idaho Street, Suite 102-Box 604, Elko, NV 89801, Attention: Corporate Secretary, tel: (800) 557-4550. These documents are also available on the Investors section of our website, which is located at www.usgoldcorp.com, or as described under “Where You Can Find More Information” above. The reference to our website address does not constitute incorporation by reference of the information contained on our website into this prospectus.

You should rely only on information contained in, or incorporated by reference into, this prospectus. We have not authorized anyone to provide you with information different from that contained in this prospectus or incorporated by reference in this prospectus. We are not making offers to sell the securities in any jurisdiction in which such an offer or solicitation is not authorized or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation.

U.S. GOLD CORP.

2,883,238 Shares

Common Stock

PROSPECTUS

, 2026

PART II

INFORMATION NOT REQUIRED IN PROSPECTUS

Item 13. Other Expenses of Issuance and Distribution.

The ~~following~~fees ~~table sets forth the costs~~ and expenses payable by ~~U.S.~~us ~~Gold Corp., or the Registrant,~~ in connection with ~~the~~this ~~sale~~registration ~~and~~statement ~~distribution of the securities being registered. All amounts~~ are estimated ~~except~~as ~~the SEC registration fee.~~follows:

Item	Amount
U.S. Securities and Exchange Commission registration fee	$	6,920.28
SEC registration fee	$	1,229
Legal fees and expenses	$	45,000
Legal fees and expenses		25,000
Accounting fees and expenses	$	5,000
Accounting fees and expenses		5,000
Total	$	56,920.28
Printing, transfer agent fees and miscellaneous expenses		2,500
Total	$	33,729

Item 14. Indemnification of Directors and Officers.

Section 78.7502(1) of the Nevada Revised Statutes (“NRS”) provides that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (except an action by or in the right of the corporation), by reason of the fact that such person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, or as a manager of a limited liability company, against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred in connection with such action, suit or proceeding if such person: (i) is not liable ~~for~~pursuant ato ~~breach~~NRS ~~of fiduciary duties that involved intentional misconduct, fraud or a knowing violation of law~~78.138; or (ii) acted in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful.

NRS Section 78.7502(2) further provides that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that such person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, or as a manager of a limited liability company, against expenses, including amounts paid in settlement and attorneys’ fees actually and reasonably incurred by the person in connection with the defense or settlement of the action or suit if such person: (i) is not liable ~~for a breach of fiduciary duties that involved intentional~~ ~~misconduct,~~pursuant ~~fraud~~to orNRS ~~a knowing violation of law~~78.138; or (ii) acted in good faith and in a manner ~~that~~which he or she reasonably believed to be in or not opposed to the best interests of the corporation. Indemnification pursuant to NRS 78.7502 may not be made for any claim, issue or matter as to which such a person has been adjudged by a court of competent jurisdiction, after exhaustion of all appeals therefrom, to be liable to the corporation or for amounts paid in settlement to the corporation, unless and only to the extent that the court in which the action or suit was brought or other court of competent jurisdiction determines upon application that in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnity for such expenses as the court deems proper.

To the extent that a director, officer, employee or agent of a corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in subsections (1) and (2) of NRS Section 78.7502, as described above, or in defense of any claim, issue or matter therein, the corporation shall indemnify him or her against expenses (including attorneys’ fees), actually and reasonably incurred by such person in connection with the defense.

The articles of incorporation, as amended, and the second amended and restated bylaws of the Company provide that the Company shall, to the fullest extent permitted by the NRS, as now or hereafter in effect, indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, except an action by or in the right of the Company, by reason of the fact that he is or was a director, officer, employee or agent of the Company, or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses, including attorneys’ fees, judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with the action, suit or proceeding if he: (i) is not liable pursuant to NRS Section 78.138; or (ii) acted in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful.

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Item 15. Recent Sales of Unregistered Securities.

~~During~~Set ~~the~~forth ~~preceding~~below ~~three~~is ~~years,~~information ~~the~~regarding ~~Company~~all ~~has~~securities ~~issued~~sold by us since May 1, 2022, the ~~following~~offer ~~securities~~and ~~that~~sale of which were not registered under the Securities Act. Also included is the consideration received by us for such securities and information relating to the section of the Securities Act:, or rule of the SEC, under which exemption from registration was claimed.

(1) On April 15, 2024, the Company entered into a Securities Purchase Agreement with certain investors, pursuant to which, and upon the terms and subject to the conditions and limitations set forth in the agreement, the Company agreed to issue warrants to purchase up to 1,400,000 shares of the Company’s common stock to the investors at an exercise price of $4.48. Each warrant is exercisable six months from the date of issuance and has a term expiring five years after such initial exercise date.Warrant Issuance

~~The~~On ~~offer~~April 15, ~~sale~~2024, ~~and~~the ~~issuance~~Company ofentered ~~the~~into ~~securities~~a ~~described~~Securities inPurchase ~~the~~Agreement ~~paragraph~~with ~~above~~certain ~~was~~investors, ~~offered~~pursuant to which, and ~~sold~~upon ~~without~~the ~~registration~~terms and ~~under~~subject to the ~~Securities Act~~conditions and limitations set forth in ~~reliance~~the onagreement, the ~~exemptions~~Company ~~provided~~agreed byto ~~Section~~issue ~~4(a)(2)~~warrants to purchase up to 1,400,000 shares of the ~~Securities~~Company’s ~~Act~~Common ~~and/or~~Stock ~~Regulation~~to Dthe ~~promulgated~~investors ~~thereunder~~at an exercise price of $4.48. Each of ~~the~~warrant ~~recipients~~is ofexercisable ~~securities~~six inmonths ~~this~~from the ~~transaction~~date ~~had~~of ~~adequate~~issuance ~~access,~~and ~~through~~has ~~business~~a orterm ~~other~~expiring ~~relationships~~five toyears ~~information~~after ~~about the~~such ~~Company~~initial exercise date.

~~Item~~On ~~16.~~December ~~Exhibits~~23, 2025, the Company entered into Purchase Agreements with certain investors, pursuant to which, and ~~Financial~~upon ~~Statement~~the ~~Schedules~~terms and conditions and limitations set forth in the agreement, the Company agreed to issue warrants to purchase up to 961,079 shares of the Company’s Common Stock to investors at an exercise price of $23.00 per share. Each warrant has a term expiring two years after such initial exercise date.

~~EXHIBITS~~Issuances of Common Stock

Exhibit No		Description
2.1		Articles of Merger as filed with the Nevada Secretary of State on May 23, 2017 (incorporated by reference from Exhibit 3.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on May 26, 2017).
3.1		Articles of Incorporation filed with the Secretary of State of the State of Nevada (incorporated by reference from the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on January 8, 2016).
3.2		Certificate of Amendment to Articles of Incorporation dated July 6, 2016 (incorporated by reference from the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on July 8, 2016).
3.3		Certificate of Designation of Preferences, Rights and Limitations of Series A Preferred Stock (incorporated by reference from the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on January 8, 2016).
3.4		Certificate of Designations, Preferences and Rights of 0% Series B Convertible Preferred Stock (incorporated by reference from the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on January 21, 2016).
3.5		Certificate of Designation of Rights, Powers, Preferences, Privileges and Restrictions of 0% Series D Convertible Preferred Stock (incorporated by reference from the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on August 5, 2016).
3.6		Certificate of Designations, Preferences and Rights of the Company’s 0% Series C Convertible Preferred Stock (incorporated by reference from the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001- 08266 on May 26, 2017).
3.7		Amended and Restated Bylaws (incorporated by reference from the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on February 23, 2016).
3.8		Certificate of Designations, Rights, Powers, Preferences, Privileges and Restrictions of the Company’s 0% Series F Convertible Preferred Stock (incorporated by reference from Exhibit 3.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266 on June 20, 2019).
3.9		Certificate of Amendment of Articles of Incorporation of U.S. Gold Corp (incorporated by reference from Exhibit 3.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266 on March 19, 2020).
3.10		Certificate of Designation of 0% Series G Convertible Preferred Stock (incorporated by reference from Exhibit 3.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on March 30, 2020).

On August 27, 2025 and September 2, 2025, we issued an aggregate of 38,541 shares of Common Stock under the Controlled Equity Offering^SM Sales Agreement, dated as of June 9, 2025, with Cantor Fitzgerald & Co. for gross proceeds of approximately $0.5 million.

On December 23, 2025, we issued an aggregate of 1,922,159 shares of Common Stock under the Purchase Agreements with certain investors, at a purchase price of $16.25 per share.

Warrant Exercises

Subsequent to our loss of eligibility Form S-3, we issued an aggregate of 15,000 shares of Common Stock upon the cash exercise of previously registered warrants to purchase our Common Stock for gross proceeds of $142,500.

The issuances of the above securities were deemed to be exempt from registration under the Securities Act in reliance upon Section 4(a)(2) of the Securities Act or Regulation D promulgated thereunder, as transactions by an issuer not involving any public offering.

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3.11		Certificate of Amendment to Articles of Incorporation dated May 2, 2017 (incorporated by reference from Exhibit 3.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266 on May 5, 2017).
3.12		Certificate of Designations of Series H Convertible Preferred Stock (incorporated by reference from Exhibit 3.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266 on August 13, 2020).
3.13		Certificate of Designations of Series I Convertible Preferred Stock (incorporated by reference from Exhibit 3.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266 on August 13, 2020).
4.1		Form of Common Stock Purchase Warrant (incorporated by reference from Exhibits to the Current Report on Form 8-K with the Securities and Exchange Commission, SEC file number 001-08266, filed on May 12, 2011).
4.2		Form of Class A Warrant Certificate (incorporated by reference from Exhibit 4.3 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266 on June 20, 2019).
4.3		Description of Securities (incorporated by reference from Exhibit 4.3 to the Annual Report on Form 10-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on July 29, 2021).
4.4		Form of Common Warrant (incorporated by reference from Exhibit 4.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on January 28, 2021).
4.5		Form of Common Stock Purchase Warrant (incorporated by reference from Exhibit 4.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on February 18, 2022).
4.6		Form of Common Stock Purchase Warrant (incorporated by reference from Exhibit 4.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on March 21, 2022).
4.7		Form of Common Stock Purchase Warrant (incorporated by reference from Exhibit 4.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on April 10, 2023).
4.8		Amendment No. 1 to Warrants (incorporated by reference from Exhibit 4.2 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on April 10, 2023).
4.9		Form of Warrant (incorporated by reference from Exhibit 4.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on April 19, 2024).
5.1		Opinion of Davis Graham & Stubbs LLP.*
10.1		2014 Equity Incentive Plan (incorporated by reference from Exhibits to a Definitive Proxy Statement for an Annual Meeting of Shareholders held on November 10, 2014, filed with the Securities and Exchange Commission, SEC file number 001-08266, on October 21, 2014).
10.2		2017 Equity Incentive Plan (incorporated by reference from Appendix A to a Definitive Proxy Statement for an Annual Meeting of Shareholders held on July 31, 2017, filed with the Securities and Exchange Commission, SEC file number 001- 08266, on July 12, 2017).
10.3		Consulting Agreement dated January 7, 2021 by and between Ryan K. Zinke and U.S. Gold Corp. (incorporated by reference from Exhibit 10.3 to the Annual Report on Form 10-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on July 29, 2021).
10.4		Employment Agreement dated December 4, 2020 by and between George Bee and U.S. Gold Corp. (incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC File number 001- 08266, on December 10, 2020).
10.5		Employment Agreement dated December 4, 2020 by and between Eric Alexander and U.S. Gold Corp. (incorporated by reference from Exhibit 10.3 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC File number 001- 08266, on December 10, 2020).
10.6		Employment Agreement dated July 19, 2021 by and between Kevin Francis and U.S. Gold Corp. (incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC File number 001- 08266, on July 19, 2021).

Equity Awards

Since May 1, 2022, we have granted stock options to employees, officers, and directors, covering an aggregate of 433,730 shares of our Common Stock, having a weighted average exercise price of $6.80 per share, in connection with services provided to us by such parties.

Since May 1, 2022, we have granted restricted stock units (“RSUs”) to employees, officers, and directors, covering an aggregate of 116,648 shares of our Common Stock in connection with services provided to us by such parties.

Since May 1, 2022, we have granted deferred stock units to employees, officers, and directors, covering an aggregate of 44,265 shares of our Common Stock in connection with services provided to us by such parties.

Since May 1, 2022, we have issued an aggregate of 168,475 shares of restricted Common Stock to consultants in connection with services provided to us by such parties.

Since May 1, 2022, we have issued an aggregate of 4,468 shares of our Common Stock to employees, officers, directors and consultants upon their exercise of stock options, for aggregate cash consideration of approximately $26,408.

Since May 1, 2022, we have issued an aggregate of 15,854 shares of our Common Stock to employees, officers and directors upon the vesting of RSUs.

The issuances of the above securities were deemed to be exempt from registration under the Securities Act in reliance upon Section 4(a)(2) of the Securities Act as transactions by an issuer not involving any public offering.

Item 16. Exhibits and Financial Statement Schedules.

(a)

Exhibits.

The exhibits to the Registration Statement are listed in the Exhibit Index attached hereto and incorporated by reference herein.

1.1	Controlled Equity Offering^SM Sales Agreement, dated as of June 9, 2025 by and between U.S. Gold Corp. and Cantor Fitzgerald & Co. Incorporated by reference from Exhibit 1.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on June 9, 2025.

2.1	Articles of Merger as filed with the Nevada Secretary of State on May 23, 2017. Incorporated by reference from Exhibit 3.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on May 26, 2017.

3.1	Articles of Incorporation dated December 30, 2015 filed with the Secretary of State of the State of Nevada. Incorporated by reference from the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on January 8, 2016.

3.1.1	Certificate of Amendment to Articles of Incorporation dated July 6, 2016. Incorporated by reference from the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on July 8, 2016.

3.1.2	Certificate of Amendment to Articles of Incorporation dated May 3, 2017. Incorporated by reference from Exhibit 3.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266 on May 5, 2017.

3.1.3	Certificate of Amendment of Articles of Incorporation of U.S. Gold Corp dated March 30, 2020. Incorporated by reference from Exhibit 3.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266 on March 20, 2020.

3.1.4	Certificate of Designation of Preferences, Rights and Limitations of Series A Preferred Stock dated December 30, 2015. Incorporated by reference from Exhibit 3.2 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on January 8, 2016.

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10.7		U.S. Gold Corp 2020 Stock Incentive Plan (incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC File number 001-08266, on September 24, 2019).
3.1.5	Certificate of Designations, Preferences and Rights of the Company’s 0% Series B Convertible Preferred Stock dated January 21, 2016. Incorporated by reference from Exhibit 3.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on January 21, 2016.
10.8		First Amendment to the U.S. Gold Corp. 2020 Stock Incentive Plan (incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC File number 001-08266, on November, 10, 2020).
3.1.6	Certificate of Designations, Preferences and Rights of the Company’s 0% Series C Convertible Preferred Stock dated May 2017 (and filed May 23, 2017). Incorporated by reference from Exhibit 3.2 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001- 08266 on May 26, 2017.
10.9		Form of Leak-Out Agreement (incorporated by reference from Exhibit 10.2 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on August 13, 2020).
3.1.7	Certificate of Designation of Rights, Powers, Preferences, Privileges and Restrictions of the Company’s 0% Series D Convertible Preferred Stock dated August 3, 2016. Incorporated by reference from Exhibit 4.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on August 5, 2016.
10.10		Form of Restricted Stock Unit Award Agreement under the U.S. Gold Corp. 2020 Stock Incentive Plan (incorporated by reference from Exhibit 10.5 of the Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, SEC file number 001-08266, on December 16, 2019).
3.1.8	Certificate of Designation of Rights, Powers, Preferences, Privileges and Restrictions of the Company’s 0% Series E Convertible Preferred Stock dated January 12, 2018 (and filed on January 18, 2018). Incorporated by reference from Exhibit 3.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on January 19, 2018.
10.11		Form of Restricted Stock Award Agreement under the U.S. Gold Corp. 2020 Stock Incentive Plan (incorporated by reference from Exhibit 10.6 of the Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, SEC file number 001-08266, on December 16, 2019).
3.1.9	Certificate of Designation of Rights, Powers, Preferences, Privileges and Restrictions of the Company’s 0% Series F Convertible Preferred Stock dated June 19, 2019. Incorporated by reference from Exhibit 3.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266 on June 20, 2019.
10.12		Form of Nonqualified Stock Option Award Agreement under the U.S. Gold Corp. 2020 Stock Incentive Plan (incorporated by reference from Exhibit 10.7 of the Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, SEC file number 001-08266, on December 16, 2019).
3.1.10	Certificate of Designation of Rights, Powers, Preferences, Privileges and Restrictions of the Company’s 0% Series G Convertible Preferred Stock dated March 2020 (and filed on March 30, 2020). Incorporated by reference from Exhibit 3.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266 on March 30, 2020.
10.13		Form of Securities Purchase Agreement (incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on February 18, 2022).
3.1.11	Certificate of Designation of Rights, Powers, Preferences, Privileges and Restrictions of the Company’s Series H Convertible Preferred Stock dated August 10, 2020. Incorporated by reference from Exhibit 3.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266 on August 13, 2020.
10.14		Form of Securities Purchase Agreement (incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on March 21, 2022).
3.1.12	Certificate of Designation of Rights, Powers, Preferences, Privileges and Restrictions of the Company’s Series I Convertible Preferred Stock dated August 10, 2020. Incorporated by reference from Exhibit 3.2 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266 on August 13, 2020.
10.15		Consulting Agreement dated March 10, 2021 by and between Luke Norman and U.S. Gold Corp. (incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on May 24, 2022).
3.2	Second Amended and Restated Bylaws dated November 1, 2018. Incorporated by reference from Exhibit 3.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, filed on November 2, 2018.
10.16		Assignment and Assumption Agreement dated November 9, 2022 (incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on November 15, 2022).
4.1	Description of Securities. Incorporated by reference from Exhibit 4.3 to the Annual Report on Form 10-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on July 29, 2021.
10.17		Form of Securities Purchase Agreement (incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on April 10, 2023).
4.2	Form of Common Stock Purchase Warrant dated May 2011. Incorporated by reference from Exhibit 4.1 to the Current Report on Form 8-K with the Securities and Exchange Commission, SEC file number 001-08266, filed on May 12, 2011.
10.18		Form of Securities Purchase Agreement (incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on April 19, 2024).
4.3	Form of Class A Common Stock Purchase Warrant dated June 19, 2019. Incorporated by reference from Exhibit 4.3 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266 on June 20, 2019.
21.1		List of Subsidiaries (incorporated by reference to Exhibit 21.1 to the Company’s Annual Report on Form 10-K filed on July 31, 2023).
23.1		Consent of Davis Graham & Stubbs LLP (included in Exhibit 5.1).*
23.2		Consent of Marcum LLP.*
23.3		Consent of Gustavson Associates LLC (a member of WSP Global Inc.).*
23.4		Consent of John A. Wells.*
23.5		Consent of Mark C. Shutty.*
24.1		Power of Attorney (included on signature page of this Registration Statement).
96.1		Technical Report Summary (incorporated by reference from Exhibit 96.1 of the Annual Report on Form 10-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on August 15, 2022).
101.INS		Inline XBRL Instance Document.*
101.SCH		Inline XBRL Taxonomy Extension Schema Document.*
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document.*
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.*
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.*
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document.*
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).
107		Filing Fee Table.*
* Filed herewith

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Item 17. Undertakings

4.4	Form of Common Stock Purchase Warrant dated January 2021. Incorporated by reference from Exhibit 4.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on January 28, 2021.

4.5	Form of Common Stock Purchase Warrant dated February 16, 2022. Incorporated by reference from Exhibit 4.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on February 18, 2022.

4.6	Form of Common Stock Purchase Warrant dated March 18, 2022. Incorporated by reference from Exhibit 4.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on March 21, 2022.

4.7	Form of Common Stock Purchase Warrant dated April 10, 2023. Incorporated by reference from Exhibit 4.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on April 10, 2023.

4.8	Amendment No. 1 to Warrants dated April 10, 2023. Incorporated by reference from Exhibit 4.2 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on April 10, 2023.

4.9	Form of Common Stock Purchase Warrant dated April 2024. Incorporated by reference from Exhibit 4.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on April 19, 2024.

4.10	Form of Common Stock Purchase Warrant dated November 27, 2024. Incorporated by reference from Exhibit 4.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on December 4, 2024.

4.11	Form of Amendment No. 1 to Warrant Agreement, dated as of August 9, 2025, by and between U.S. Gold Corp. and the Warrantholder. Incorporated by reference from Exhibit 4.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on August 11, 2025.

4.12	Form of Common Stock Purchase Warrant dated December 23, 2025. Incorporated by reference from Exhibit 4.1 to Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on December 23, 2025.

5.1	Opinion of Brownstein Hyatt Farber Schreck, LLP

10.1	Assignment and Assumption of Earn-In Agreement dated November 9, 2022. Incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on November 15, 2022.

10.2	Form of Securities Purchase Agreement dated February 14, 2022. Incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on February 18, 2022.

10.3	Form of Securities Purchase Agreement dated March 15, 2022. Incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on March 21, 2022.

10.4	Form of Securities Purchase Agreement dated April 4, 2023. Incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on April 10, 2023.

(a) The undersigned registrant hereby undertakes:

(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

(i) To include any prospectus required by Section 10(a)(3) of the Securities Act; (ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement; and (iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;

Provided, however, that paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Securities and Exchange Commission by the registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.

	(2)	That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
	(3)	To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
	(4)	That, for the purpose of determining liability under the Securities Act to any purchaser:

	(i)	Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and
	(ii)	Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5) or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by Section 10(a) of the Securities Act shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date.

II-5

(5) That, for the purpose of determining liability of the registrant under the Securities Act to any purchaser in the initial distribution of the securities: The undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:

10.5	Form of Securities Purchase Agreement dated April 15, 2024. Incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on April 19, 2024.

10.6	Form of Securities Purchase Agreement November 27, 2024. Incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on December 4, 2024.

10.7	Form of Securities Purchase Agreement dated December 23, 2025. Incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on December 23, 2025.

10.8	Form of Registration Rights Schedule dated December 23, 2025. Incorporated by reference from Exhibit 10.2 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on December 23, 2025.

10.9#	Employment Agreement dated December 4, 2020 by and between George Bee and U.S. Gold Corp. Incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC File number 001- 08266, on December 10, 2020.

10.10#	Employment Agreement dated December 4, 2020 by and between Eric Alexander and U.S. Gold Corp. Incorporated by reference from Exhibit 10.3 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC File number 001- 08266, on December 10, 2020.

10.11#	Employment Agreement dated July 19, 2021 by and between Kevin Francis and U.S. Gold Corp. Incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC File number 001- 08266, on July 22, 2021.

10.12#	Consulting Agreement dated March 10, 2021 by and between Luke Norman and U.S. Gold Corp. Incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on May 24, 2022.

10.13#	U.S. Gold Corp 2020 Stock Incentive Plan. Incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC File number 001-08266, on September 24, 2019.

10.13.1#	First Amendment to the U.S. Gold Corp. 2020 Stock Incentive Plan dated November 9, 2020. Incorporated by reference from Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC File number 001-08266, on November, 10, 2020.

10.13.2#	U.S. Gold Corp. Amended and Restated 2020 Stock Incentive Plan. Incorporated by reference from Exhibit 10.11.2 of the Annual Report on Form 10-K/A filed with the Securities and Exchange Commission, SEC file number 001-08266, on October 10, 2025.

10.13.3#	Form of Restricted Stock Unit Award Agreement under the U.S. Gold Corp. 2020 Stock Incentive Plan. Incorporated by reference from Exhibit 10.5 of the Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, SEC file number 001-08266, on December 16, 2019.

10.13.4#	Form of Restricted Stock Award Agreement under the U.S. Gold Corp. 2020 Stock Incentive Plan. Incorporated by reference from Exhibit 10.6 of the Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, SEC file number 001-08266, on December 16, 2019.

10.13.5#	Form of Nonqualified Stock Option Award Agreement under the U.S. Gold Corp. 2020 Stock Incentive Plan. Incorporated by reference from Exhibit 10.7 of the Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, SEC file number 001-08266, on December 16, 2019.

(i) Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424; (ii) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant; (iii) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and (iv) Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.

	(6)	The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant’s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to section 15(d) of the Securities Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
	(7)	Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

II-6

SIGNATURES

10.13.6#	Form of Restricted Stock Unit Award Agreement under the U.S. Gold Corp. 2020 Stock Incentive Plan (Form of Bonus RSU Award Agreement). Incorporated by reference from Exhibit 4.5 of the Registration Statement on Form S-8 filed with the Securities and Exchange Commission, SEC file number 333-291502, on November 13, 2025.

10.13.7#	Form of Restricted Stock Unit Award Agreement under the U.S. Gold Corp. 2020 Stock Incentive Plan (Form of Long Term RSU Award Agreement). Incorporated by reference from Exhibit 4.6 of the Registration Statement on Form S-8 filed with the Securities and Exchange Commission, SEC file number 333-291502, on November 13, 2025.

10.13.8#	Form of Nonqualified Stock Option Agreement under the U.S. Gold Corp. 2020 Stock Incentive Plan (Form of Bonus Option and Short Term Option Award Agreement). Incorporated by reference from Exhibit 4.7 of the Registration Statement on Form S-8 filed with the Securities and Exchange Commission, SEC file number 333-291502, on November 13, 2025.

10.13.9#	Form of Nonqualified Stock Option Agreement under the U.S. Gold Corp. 2020 Stock Incentive Plan (Form of Long Term Option Award Agreement). Incorporated by reference from Exhibit 4.8 of the Registration Statement on Form S-8 filed with the Securities and Exchange Commission, SEC file number 333-291502, on November 13, 2025.

10.13.10#	Form of Deferred Stock Unit Award Agreement under the U.S. Gold Corp. 2020 Stock Incentive Plan (Form of Short Term DSU Award Agreement). Incorporated by reference from Exhibit 4.9 of the Registration Statement on Form S-8 filed with the Securities and Exchange Commission, SEC file number 333-201502, on November 13, 2025.

10.13.11#	Form of Deferred Stock Unit Award Agreement under the U.S. Gold Corp. 2020 Stock Incentive Plan (Form of Long Term DSU Award Agreement). Incorporated by reference from Exhibit 4.10 of the Registration Statement on Form S-8 filed with the Securities and Exchange Commission, SEC file number 333-291502, on November 13, 2025.

10.14#	Consulting Agreement dated November 25, 2024 by and between Luke Norman Consulting Ltd. And U.S. Gold Corp. Incorporated by reference from Exhibit 10.12 of the Annual Report on Form 10-K/A filed with the Securities and Exchange Commission, SEC file number 001-08266, on October 10, 2025.

16.1	Letter from Marcum LLP dated September 16, 2025. Incorporated by reference from Exhibit 16.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on September 16, 2025.

21.1	List of Subsidiaries. Incorporated by reference from Exhibit 21.1 to the Annual Report on Form 10-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on July 29, 2025.

23.1	Consent of Marcum LLP.

23.2	Consent of AKF Mining Services Inc.

23.3	Consent of Drift Geo LLC.

23.4	Consent of John Wells.

23.5	Consent of Samuel Engineering, Inc.

23.6	Consent of Tierra Group International, Ltd.

23.7	Consent of Company QP (Kevin Francis).

23.8	Consent of Brownstein Hyatt Farber Schreck, LLP (included in Exhibit 5.1)

24.1	Power of Attorney. (included on signature pages)

96.1	Technical Report Summary of CK Gold Project for U.S. Gold Corp., Laramie County, Wyoming, USA, effective February 10, 2025. Incorporated by reference from Exhibit 96.1 of the Current Report on Form 8-K filed with the Securities and Exchange Commission, SEC file number 001-08266, on February 14, 2025.

107	Filing Fee Table

~~Pursuant~~101.INS toInline ~~the~~XBRL ~~requirements~~Instance ~~of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized.~~Document

Dated: October 7, 2024	GOLDEN MINERALS COMPANY
	Registrant
	By:	/s/ GEORGE M. BEE
		George M. Bee
		President and Chief Executive Officer

101.SCH Inline XBRL Taxonomy Extension Schema Document

~~POWER~~101.CAL OFInline ~~ATTORNEY~~XBRL Taxonomy Extension Calculation Link base Document

~~Each person whose signature appears below hereby appoints each of George M~~101. ~~Bee and Eric Alexander, severally, acting alone and without the~~LAB ~~other,~~Inline ~~his~~XBRL orTaxonomy ~~her~~Extension ~~true~~Label ~~and~~Link ~~lawful~~base attorney-in-fact, with full power of substitution, and with the authority to execute in the name of each such person, any and all amendments (including without limitation, post-effective amendments) to this registration statement on Form S-1, to sign any and all additional registration statements relating to the same offering of securities as this registration statement that are filed pursuant to Rule 462(b) of the Securities Act of 1933, and to file such registration statements with the Securities and Exchange Commission, together with any exhibits thereto and other documents therewith, necessary or advisable to enable the registrant to comply with the Securities Act of 1933, and any rules, regulations and requirements of the Securities and Exchange Commission in respect thereof, which amendments may make such other changes in the registration statement as the aforesaid attorney-in-fact executing the same deems appropriate.Document

~~Pursuant~~101.PRE toInline ~~the~~XBRL ~~requirements~~Taxonomy ofExtension ~~the~~Presentation ~~Securities~~Link ~~Act~~base ~~of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.~~Document

Signature	Title	Date
/s/ GEORGE M. BEE	President, Chief Executive Officer and Director	October 7, 2024
George M. Bee	(Principal Executive Officer)
/s/ ERIC ALEXANDER	Chief Financial Officer	October 7, 2024
Eric Alexander	(Principal Financial and Accounting Officer)
/s/ LUKE NORMAN	Chairman of the Board of Directors	October 7, 2024
Luke Norman
/s/ JOHANNA FIPKE	Director	October 7 2024
Johanna Fipke
/s/ ROBERT W. SCHAFER	Director	October 7, 2024
Robert W. Schafer
/s/ MICHAEL WALDKIRCH	Director	October 7, 2024
Michael Waldkirch

101.DEF Inline XBRL Taxonomy Extension Definition Link base Document

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

# Indicates management or compensatory plan or arrangement

II-7

Item 17. Undertakings.

The undersigned registrant hereby undertakes:

(a) (1)

To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

(i) To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;

(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement (notwithstanding the foregoing, any increase or decrease in the volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the “Calculation of Filing Fee Tables” or “Calculation of Registration Fee” table, as applicable, in the effective registration statement; and

(iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;

provided, however, that the undertakings set forth in paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.

(2)

That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(3)	To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(4)	That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser: (i) Each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.

(5)	That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of securities: The undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser: (i) Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424; (ii) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant; (iii) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and (iv) Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.

(6)	The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant’s annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(b)	Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

II-8

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Elko, State of Nevada, on February 4, 2026

	U.S. GOLD CORP.

	By:	/s/ George M. Bee
	Name:	George M. Bee
	Title:	President and Chief Executive Officer

Power of Attorney

Each person whose signature appears below hereby appoints each of George Bee and Eric Alexander, his or her true and lawful attorney-in-fact, with full power of substitution, and with the authority to execute in the name of each such person, any and all amendments (including without limitation, post-effective amendments) to this registration statement on Form S-1, to sign any and all additional registration statements relating to the same offering of securities as this registration statement that are filed pursuant to Rule 462(b) of the Securities Act of 1933, and to file such registration statements with the Securities and Exchange Commission, together with any exhibits thereto and other documents therewith, necessary or advisable to enable the registrant to comply with the Securities Act of 1933, and any rules, regulations and requirements of the Securities and Exchange Commission in respect thereof, which amendments may make such other changes in the registration statement as the aforesaid attorney-in-fact executing the same deems appropriate.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

Signature	Title	Date

/s/ Geroge M. Bee	President, Chief Executive Officer and Director	February 4, 2026
George M. Bee	(Principal Executive Officer)

/s/ Eric Alexander	Chief Financial Officer and Corporate Secretary	February 4, 2026
Eric Alexander	(Principal Financial and Accounting Officer)

/s/ Luke Norman	Chairman of the Board of Directors	February 4, 2026
Luke Norman

/s/ Johanna Fipke
Johanna Fipke	Director	February 4, 2026

/s/ Robert W. Schafer
Robert W. Schafer	Director	February 4, 2026

/s/ Michael Waldkirch
Michael Waldkirch	Director	February 4, 2026

II-9

Filing Compare · U.S. GOLD CORP.