U.S. Gold acquires Northern Panther Resource, owner of Challis gold project


U.S. Gold Corp. (USAU), a gold exploration company, has completed the acquisition of Nevada-based Northern Panther Resource, the owner of the Challis Gold exploration project in Idaho, in an all-share deal.

As per the terms of the deal, Northern Panther Resource has merged into a new subsidiary of U.S. Gold Corp.

The Challis Gold exploration project is situated about 75 kilometers southwest of Salmon within the tertiary challis volcanic field.

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Edward Karr – President and CEO of U.S. Gold Corp said: “This acquisition was very attractive for our Board, and we view this as a win for our shareholders.

“We are acquiring not only an additional high-potential exploration project, but a significant cash balance and some of the industry’s leading shareholders, who plan to be very hands-on going forward.  The Challis Gold project is located in the western state of Idaho and has, we believe, significant upside exploration potential.

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“USAU shareholders now benefit from exploration and development projects in three of what we believe are the best U.S. states for mining development – Wyoming, Nevada and Idaho.”

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