American Stock Exchange News Release

Equity Release
Media Contact: Catherine Chantharaj
American Stock Exchange
212-306-1689/catherine.chantharaj@amex.com

AMERICAN STOCK EXCHANGE LISTS UNITS OF U.S. GOLD CORPORATION

New York, December 11, 2006 -  The American Stock Exchange (Amex) today listed the units of U.S. Gold Corporation under the ticker symbol UXG.

Located in Lakewood, Colorado, U.S. Gold Corporation engages in the exploration, development, production and sale of gold and silver, and other precious metals primarily in the United States. U.S. Gold was founded as Silver State Mining Corporation in 1979 and changed its name to U.S. Gold Corporation in 1988.

"We welcome U.S. Gold Corporation to the Amex, a leading destination worldwide for natural resources companies," John McGonegal, senior vice president of Amex Equities Group, said. "We look forward to supporting U.S. Gold with the tools and techniques to communicate its investment story to a greater number of potential investors."

"Increasing U.S. Gold's share liquidity is an important step towards creating Nevada's premier exploration company! With today's announcement regarding the American Stock Exchange listing, the company is well positioned to reach a broad spectrum of investors," stated Rob McEwen, Chairman and CEO.

The specialist in U.S. Gold Corporation will be LaBranche & Co. For further information on UXG and other Amex-listed companies, please visit www.amex.com.

About American Stock Exchange

The American Stock Exchange® (Amex®) offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 217 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please visit www.amex.com