U.S. Gold Corporation is engaged in the precious metals and base metals mining business in the continental United States and through an equity investment in an affiliate company, in Mexico. It may also evaluate and develop properties outside the United States. The Company owns a 45% interest in the Tonkin Springs gold mine located in Nevada, and a 40% equity investment in an affiliated company, Gold Resources Corporation. It has not had revenues from mining operations since 1990. As a mining company, its activities include, at various times and to various degrees, exploration, land acquisition, geological evaluation and feasibility studies of properties and, where warranted, development and construction of mining and processing facilities, mining and processing and the sale of gold and other metals and by-products. It may also enter into joint ventures, partnerships or other arrangements to accomplish these activities.