U.S. Gold Corp. announced that Effective upon Edward M. Karr retirement from his role as Chief Executive Officer and subject to his election at the 2020 Annual Meeting, the Board intends to enter into a new employment agreement and appoint Mr. Karr executive chairman of the Board. The Board intends to appoint George Bee to succeed Mr. Karr as Chief Executive Officer. Also on August 31, 2020, each of John N. Braca, the current chairman of the Board, Timothy M. Janke and Andrew Kaplan notified the Company that he does not intend to stand for re-election to the Board at the 2020 Annual Meeting. None of Messrs. Braca, Janke and Kaplan's decision not to stand for re-election resulted from any disagreement with the Company or its management.