cautionary statement

1

2

Cautionary StatementCertain statements contained herein and subsequent oral statements made

by and on behalf of the Company may contain “forward-looking statements” within the meaning of the applicable securities laws. Such forward-looking statements are often identified by words such as “intends”, “anticipates”, “believes”, “expects”, “predicts” and “hopes” and include, without limitation, statements regarding the Company’s plan of business operations, potential contractual arrangements, receipt of working capital, anticipated revenues and related expenditures. Factors that could cause actual results to differ materially include, among others, those set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2009, as amended, and other filings with the Securities and Exchange Commission, and with the securities regulatory authorities in Canada, under the caption “Risk Factors”. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking statements. Except as otherwise required by applicable securities statutes or regulations, the Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise.

3

Gold vs Market

4

Aligned with Shareholders!CEO’s Share Ownership

5

Market Cap

$655 MillionCEO owns 21%

*Sept 16, 2010

6

US Gold SummaryLiquid Shares

Big CEO Ownership

Aggressive Exploration

Moving Towards Production

7

S&P Requirements1. US Company

2. Market Cap. > $3.5 B

3. Public Float > 50%

4. 4 Qtrs Positive Earnings

5. Liquidity Threshold

6. Sector Representation

7. US Listing

✔

✔

✔✔

✔

✗

✗

8

Sources of Future ProductionOrganic Growth

9

M+I Grade Inferred Grade

Silver oz gpt oz gpt

El Gallo 25.1 106.0 12.2 84.0

Palmarito 8.5 70.1 3.3 65.5

Total 33.6 MM 15.5 MM

Gold oz gpt oz gpt

Magistral 502,500 1.50 8,200 1.14

El Gallo District Resource

*Canadian NI 43-101 compliant resources

10

Mexican ProductionTarget Late 2013

35,000 Gold oz

+

5 - 10 MM Silver oz

11

El Gallo ResourceShallow Open Pit

Mineralization(Long Section)

12

Target Annual Production - Mexico

13

El Gallo - Deliverables

2010 - 100,000 Meters Drilling

Oct - Updated Resource Est.

Dec - Scoping Study + Updated Resource

2011 - Feasibility Study

14

Hot New Targets Drilling NowSample Assay Results

15

Cortez Trend Nevada

16

Gold Bar Scoping Study

60,000 oz Au / yrCash Costs $600 / ozIRR 60%*Payback 3 yrs*Initial Capital $40 MM

*$1,150 / oz gold price

17

New Gold Bar Expansion Drilling

18

Nevada Deliverables

Gold Bar Pre-feasibilityQ3 2011

Ongoing Exploration

19

US Gold SummaryLiquid Shares

Big CEO Ownership

Aggressive Exploration

Moving Towards Production

20

21

22

Largest UXG Shareholders

25.4 MM

5.2 MM

4.5 MM

3.9 MM

3.3 MM

3.0 MM

21%

4%

4%

3%

3%

2%

Rob McEwen

BlackRock

Royce & Assoc.

Ziff Brothers

Oppenheimer

Van Eck

As of June 30, 2010

23

UXG Analyst Coverage

Dahlman Rose

Canaccord

Dundee

Fraser Mackenzie

Adam Graf

Eric Zaunscherb

Ron Stewart

Gary Baschuk

212-920-2940

604-699-0829

647-428-8324

416-955-4777

Company Analyst Phone #