U.S. Gold (USAU) 10-K 15 Aug 22 2022 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Apr. 30, 2022	Aug. 12, 2022	Oct. 31, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Apr. 30, 2022
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--04-30
Entity File Number	001-08266
Entity Registrant Name	U.S. GOLD CORP
Entity Central Index Key	0000027093
Entity Tax Identification Number	22-1831409
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	1910 East Idaho Street
Entity Address, Address Line Two	Suite 102-Box 604
Entity Address, City or Town	Elko
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89801
City Area Code	(800)
Local Phone Number	557-4550
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	USAU
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 63,354,675
Entity Common Stock, Shares Outstanding		8,349,843
Auditor Firm ID	688
Auditor Name	Marcum LLP
Auditor Location	New York, NY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Apr. 30, 2022	Apr. 30, 2021
CURRENT ASSETS:
Cash	$ 9,111,512	$ 13,645,405
Prepaid expenses and other current assets	787,902	430,360
Total current assets	9,899,414	14,075,765
NON - CURRENT ASSETS:
Property, net	349,917	172,222
Reclamation bond deposit	832,509	718,509
Operating lease right-of-use asset, net	64,064
Mineral rights	16,356,862	16,356,862
Total non - current assets	17,603,352	17,247,593
Total assets	27,502,766	31,323,358
CURRENT LIABILITIES:
Accounts payable and accrued liabilities	1,080,405	619,038
Operating lease liabilities, current portion	55,630
Total current liabilities	1,136,035	619,038
LONG- TERM LIABILITIES
Warrant liability	2,440,000
Asset retirement obligation	260,196	204,615
Operating lease liabilities, less current portion	8,734
Total long-term liabilities:	2,708,930	204,615
Total liabilities	3,844,965	823,653
Commitments and Contingencies
STOCKHOLDERS’ EQUITY :
Common stock ($0.001 Par Value; 200,000,000 Shares Authorized; 8,349,843 and 7,065,621 shares issued and outstanding as of April 30, 2022 and 2021)	8,350	7,065
Additional paid-in capital	81,555,379	74,467,686
Accumulated deficit	(57,905,928)	(43,975,046)
Total stockholders’ equity	23,657,801	30,499,705
Total liabilities and stockholders’ equity	27,502,766	31,323,358
Convertible Series F Preferred Stock [Member]
STOCKHOLDERS’ EQUITY :
Preferred stock, value
Convertible Series G Preferred Stock [Member]
STOCKHOLDERS’ EQUITY :
Preferred stock, value
Convertible Series H Preferred Stock [Member]
STOCKHOLDERS’ EQUITY :
Preferred stock, value
Convertible Series I Preferred Stock [Member]
STOCKHOLDERS’ EQUITY :
Preferred stock, value

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Apr. 30, 2022	Apr. 30, 2021
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	8,349,843	7,065,621
Common stock, shares outstanding	8,349,843	7,065,621
Convertible Series F Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,250	1,250
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Convertible Series G Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	127	127
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Convertible Series H Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	106,894	106,894
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Convertible Series I Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	921,666	921,666
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Income Statement [Abstract]
Net revenues
Operating expenses:
Compensation and related taxes - general and administrative	2,287,020	3,334,227
Exploration costs	7,231,097	4,019,838
Professional and consulting fees	4,228,139	4,085,516
General and administrative expenses	1,205,786	947,513
Total operating expenses	14,952,042	12,387,094
Loss from operations	(14,952,042)	(12,387,094)
Other income (expense):
Offering cost related to warrant liability	(190,840)
Change in fair value of warrant liability	1,212,000
Total other income, net	1,021,160
Loss before provision for income taxes	(13,930,882)	(12,387,094)
Provision for income taxes
Net loss	(13,930,882)	(12,387,094)
Deemed dividend related to beneficial conversion feature of preferred stock		(5,530,004)
Net loss applicable to U.S. Gold Corp. common shareholders	$ (13,930,882)	$ (17,917,098)
Net loss per common share, basic and diluted	$ (1.92)	$ (3.80)
Weighted average common shares outstanding - basic and diluted	7,253,760	4,712,755

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Preferred Stock [Member] Series F Preferred Stock [Member]	Preferred Stock [Member] Series G Preferred Stock [Member]	Preferred Stock [Member] Series H Preferred Stock [Member]	Preferred Stock [Member] Series I preferred stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Apr. 30, 2020					$ 2,903	$ 41,093,050	$ (31,587,952)	$ 9,508,001
Beginning balance, shares at Apr. 30, 2020		57			2,903,393
Issuance of preferred stock and warrants, net of issuance cost				$ 922		5,529,082		5,530,004
Issuance of preferred stock and warrants, net of issuance cost, shares				921,666
Issuance of preferred stock and common stock in connection with the Share Exchange Agreement			$ 107		$ 581	12,640,292		12,640,980
Issuance of preferred stock and common stock in connection with the Share Exchange Agreement, shares			106,894		581,053
Conversion of preferred stock into common stock			$ (107)	$ (922)	$ 2,011	(982)
Conversion of preferred stock into common stock, shares		(57)	(106,894)	(921,666)	2,010,963
Common stock issued for cash					$ 914	8,998,163		8,999,077
Common stock issued for cash, shares					914,136
Issuance of common stock for services					$ 163	1,539,201		1,539,364
Issuance of common stock for services, shares					163,076
Issuance of common stock for prepaid services					$ 8	106,242		106,250
Issuance of common stock for prepaid services, shares					8,231
Issuance of common stock for exercise of warrants					$ 483	2,499,511		2,499,994
Issuance of common stock for exercise of warrants, shares					482,894
Stock options granted for services						194,761		194,761
Stock-based compensation in connection with restricted common stock award grants and restricted common stock unit grants					$ 2	1,868,366		1,868,368
Stock-based compensation in connection with restricted common stock award grants and restricted common stock unit grants, shares					1,875
Net loss							(12,387,094)	(12,387,094)
Ending balance, value at Apr. 30, 2021					$ 7,065	74,467,686	(43,975,046)	30,499,705
Ending balance, shares at Apr. 30, 2021					7,065,621
Issuance of common stock for services					$ 12	99,988		100,000
Issuance of common stock for services, shares					12,104
Issuance of common stock for exercise of warrants					$ 167	999,834		1,000,001
Issuance of common stock for exercise of warrants, shares					166,667
Stock options granted for services						183,475		183,475
Stock-based compensation in connection with restricted common stock award grants and restricted common stock unit grants						1,386,512		1,386,512
Net loss							(13,930,882)	(13,930,882)
Issuance of common stock and warrants, net of issuance cost					1,010	3,567,480		3,568,490
Issuance of common stock and warrants, net of issuance cost, shares					1,009,741
Issuance of common stock for prepaid services and accrued services					96	850,404		850,500
Issuance of common stock for prepaid services and accrued services, shares					95,710
Ending balance, value at Apr. 30, 2022					$ 8,350	$ 81,555,379	$ (57,905,928)	$ 23,657,801
Ending balance, shares at Apr. 30, 2022					8,349,843

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (13,930,882)	$ (12,387,094)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	34,794	22,886
Accretion	22,064	17,477
Amortization of right-of-use asset	40,031
Stock based compensation	1,669,987	3,602,493
Abandonment of mineral properties		56,329
Amortization of prepaid stock based expenses	530,194	40,105
Change in fair value of warrant liability	(1,212,000)
Changes in operating assets and liabilities:
Income tax receivable		219,072
Prepaid expenses and other current assets	(42,236)	(151,497)
Reclamation bond deposit	(114,000)	(362,953)
Accounts payable and accrued liabilities	466,367	356,005
Accounts payable - related parties		(3,459)
Operating lease liability	(39,731)
NET CASH USED IN OPERATING ACTIVITIES	(12,575,412)	(8,590,636)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(178,972)	(42,991)
Proceeds received in connection with the share exchange agreement		2,500,000
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES	(178,972)	2,457,009
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of preferred stock, net of issuance cost		5,530,004
Issuance of common stock, net of offering costs	7,220,490	8,999,077
Issuance of common stock for exercise of warrants	1,000,001	2,499,994
NET CASH PROVIDED BY FINANCING ACTIVITIES	8,220,491	17,029,075
NET (DECREASE) INCREASE IN CASH	(4,533,893)	10,895,448
CASH - beginning of year	13,645,405	2,749,957
CASH - end of year	9,111,512	13,645,405
Cash paid for:
Interest
Income taxes
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:
Issuance of common stock for prepaid services and accrued services	850,500	106,250
Deemed dividend related to beneficial conversion feature of preferred stock		5,530,004
Issuance of common stock in connection with conversion of preferred stock		2,011
Operating lease right-of-use asset and operating lease liability recorded upon adoption of ASC 842	104,095
Assumption of liabilities in connection with the share exchange agreement		108,652
Increase in acquisition of mineral properties in connection with the share exchange agreement		10,249,632
Increase in asset retirement cost and obligation	33,517	18,746
Initial valuation of warrant liability	$ 3,652,000

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	12 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS Organization U.S. Gold Corp., formerly known as Dataram Corporation (the “Company”), was originally incorporated in the State of New Jersey in 1967 and was subsequently re-incorporated under the laws of the State of Nevada in 2016. Effective June 26, 2017, the Company changed its name to U.S. Gold Corp. from Dataram Corporation. On June 13, 2016, Gold King Corp. (“Gold King”), a private Nevada corporation, entered into an Agreement and Plan of Merger (the “Gold King Merger Agreement”) with the Company, the Company’s wholly-owned subsidiary Dataram Acquisition Sub, Inc., a Nevada corporation (“Acquisition Sub”), and all of the principal shareholders of Gold King. Upon closing of the transactions contemplated under the Gold King Merger Agreement (the “Gold King Merger”), Gold King merged with and into Acquisition Sub with Gold King as the surviving corporation and became a wholly-owned subsidiary of the Company. The Gold King Merger was treated as a reverse acquisition and recapitalization, and the business of Gold King became the business of the Company. The financial statements are those of Gold King (the accounting acquirer) prior to the merger and include the activity of the Company (the legal acquirer) from the date of the Gold King Merger. Gold King is a gold and precious metals exploration company pursuing exploration and development opportunities primarily in Nevada and Wyoming. The Company has a wholly owned subsidiary, U.S. Gold Acquisition Corporation, formerly Dataram Acquisition Sub, Inc. (“U.S. Gold Acquisition”), a Nevada corporation which was formed in April 2016. On May 23, 2017, the Company closed the Gold King Merger with Gold King. The Gold King Merger constituted a change of control and the majority of the board of directors changed with the consummation of the Gold King Merger. The Company issued shares of common stock to Gold King which represented approximately 90% On September 10, 2019, the Company, 2637262 Ontario Inc., a corporation incorporated under the laws of the Province of Ontario (“NumberCo”), and all of the shareholders of NumberCo (the “NumberCo Shareholders”), entered into a Share Exchange Agreement (the “Share Exchange Agreement”), pursuant to which, among other things, the Company agreed to issue to the NumberCo Shareholders 200,000 On March 17, 2020, the board of directors (the “Board”) of the Company approved a 1-for-10 reverse stock split of the Company’s issued and outstanding shares of common stock (the “Reverse Stock Split”) On August 10, 2020, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Gold King Acquisition Corp. (“Acquisition Corp.”), a wholly owned subsidiary of the Company, Northern Panther Resources Corporation (“Northern Panther” or “NPRC”) and the Stockholder Representative named therein, pursuant to which Acquisition Corp. merged with and into NPRC, with NPRC surviving as a wholly-owned subsidiary of the Company. The Company’s CK Gold property contains proven and probable mineral reserves and accordingly is classified as a development stage property, as defined in subpart 1300 of Regulation S-K promulgated by the Securities and Exchange Commission (“S-K 1300”). None of the Company’s other properties contain proven and probable mineral reserves and all activities are exploratory in nature. Unless the context otherwise requires, all references herein to the “Company” refer to U.S. Gold Corp. and its consolidated subsidiaries.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation and principles of consolidation The accompanying consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), the instructions to Form 10-K, and the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) for financial information, which includes the consolidated financial statements and presents the consolidated financial statements of the Company and its wholly-owned subsidiaries as of April 30, 2022. All intercompany transactions and balances have been eliminated. It is management’s opinion that all material adjustments (consisting of normal recurring adjustments) have been made, which are necessary for a fair financial statement presentation. U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 Use of Estimates and Assumptions In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheet, and revenues and expenses for the period then ended. Actual results may differ significantly from those estimates. Significant estimates made by management include, but are not limited to, valuation of mineral rights, stock-based compensation, the fair value of common and preferred stock, valuation of warrant liability, asset retirement obligations and the valuation of deferred tax assets and liabilities. Fair Value Measurements The Company has adopted Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures” (“ASC 820”), for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied in accordance with U.S. GAAP, which requires the use of fair value measurements, establishes a framework for measuring fair value and expands disclosure about such fair value measurements. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below: Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions. The Company analyzes all financial instruments with features of both liabilities and equity under the Financial Accounting Standard Board’s (“FASB”) accounting standard for such instruments. Under this standard, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s warrant liability for warrants issued in the Definitive Agreement (see Note 9) was estimated using a Monte Carlo simulation model using Level 3 inputs. At April 30, 2021, the Company had no financial instruments or liabilities accounted for at fair value on a recurring basis or nonrecurring basis. Prepaid expenses and other current assets Prepaid expenses and other current assets of $ 787,902 430,360 Property Property is carried at cost. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in income in the year of disposition. Depreciation is calculated on a straight-line basis over the estimated useful life of the assets, generally three to five years U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 Impairment of long-lived assets The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. The Company did not recognize any impairment during the years ended April 30, 2022 and 2021. Mineral Rights Costs of leasing, exploring, carrying and retaining unproven mineral lease properties are expensed as incurred. The Company expenses all mineral exploration costs as incurred. Where the Company has identified proven and probable mineral reserves on any of its properties, development costs will be capitalized when all the following criteria have been met, a) the Company receives the requisite operating permits, b) completion of a favorable Feasibility Study and c) approval from the Company’s board of director’s authorizing the development of the ore body. Until such time all these criteria have been met the Company records pre-development costs to expense as incurred. When a property reaches the production stage, the related capitalized costs will be amortized on a units-of-production basis over the proven and probable reserves following the commencement of production. The Company assesses the carrying costs of the capitalized mineral properties for impairment under ASC 360-10, “Impairment of Long-Lived Assets”, and evaluates its carrying value under ASC 930-360, “Extractive Activities—Mining”, annually. An impairment is recognized when the sum of the expected undiscounted future cash flows is less than the carrying amount of the mineral properties. Impairment losses, if any, are measured as the excess of the carrying amount of the mineral properties over its estimated fair value. To date, the Company has expensed all exploration and pre-development costs as none of its properties have satisfied the criteria above for capitalization. ASC 930-805, “Extractive Activities—Mining: Business Combinations” (“ASC 930-805”), states that mineral rights consist of the legal right to explore, extract, and retain at least a portion of the benefits from mineral deposits. Mining assets include mineral rights. Acquired mineral rights are considered tangible assets under ASC 930-805. ASC 930-805 requires that mineral rights be recognized at fair value as of the acquisition date. As a result, the direct costs to acquire mineral rights are initially capitalized as tangible assets. Mineral rights include costs associated with acquiring patented and unpatented mining claims. ASC 930-805 provides that in measuring the fair value of mineral assets, an acquirer should take into account both: ● The value beyond proven and probable reserves (“VBPP”) to the extent that a market participant would include VBPP in determining the fair value of the assets. ● The effects of anticipated fluctuations in the future market price of minerals in a manner that is consistent with the expectations of market participants. Leases to explore for or use of natural resources are outside the scope of ASU 2016-02, “Leases”. Share-Based Compensation Share-based compensation is accounted for based on the requirements of ASC 718, “Compensation—Stock Compensation” (“ASC 718”), which requires recognition in the financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the period the employee or director is required to perform the services in exchange for the award (presumptively, the vesting period). ASC 718 also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award. U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 Accounting for Warrants Warrants are accounted for in accordance with the applicable accounting guidance provided in ASC 815, “Derivatives and Hedging” (“ASC 815”) as either derivative liabilities or as equity instruments, depending on the specific terms of the agreements. The Company classifies as equity any contracts that (i) require physical settlement or net-share settlement or (ii) give the Company a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement). The Company classifies as assets or liabilities any contracts that (i) require net-cash settlement (including a requirement to net-cash settle the contract if an event occurs and if that event is outside the control of the Company) or (ii) give the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement). Instruments that are classified as liabilities are recorded at fair value at each reporting period, with any change in fair value recognized as a component of change in fair value of derivative liabilities in the consolidated statements of operations. The Company assessed the classification of its outstanding common stock purchase warrants as of the date of issuance and determined that such instruments met the criteria for equity classification under the guidance in ASU 2017-11 “Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Feature”. The Company has no outstanding warrants that contain a “down round” feature under Topic 815 of ASU 2017-11. Warrant Liability The Company accounts for the 625,000 warrants issued in connection with the Definitive Agreement which occurred in March 2022 in accordance with the guidance contained in ASC 815 “Derivatives and Hedging” whereby under that provision these warrants do not meet the criteria for equity treatment and must be recorded as a liability (see Note 9). Accordingly, the Company classifies these warrant instruments as a liability at fair value and adjusts the instruments to fair value at each reporting period. This liability will be re-measured at each balance sheet date until the warrants are exercised or expire, and any change in fair value will be recognized in the Company’s statement of operations. The fair value of these warrants are estimated using Monte Carlo simulation model. Such warrant classification is also subject to re-evaluation at each reporting period. Offering Costs Offering costs consisted of legal, placement agent fees and other costs incurred through the balance sheet date that are directly related to registered direct offerings. Offering costs are allocated to the separable financial instruments issued in the registered direct offering based on a relative fair value basis, compared to total proceeds received. Offering costs associated with warrant liability are expensed as incurred, presented as offering cost related to warrant liability in the consolidated statements of operations. Offering costs associated with the sale of common shares were charged against equity. Convertible Preferred Stock The Company accounts for its convertible preferred stock under the provisions of ASC 480, “Distinguishing Liabilities from Equity” (“ASC 480”), which sets forth the standards for how an issuer classifies and measures certain financial instruments with characteristics of both liabilities and equity. ASC 480 requires an issuer to classify a financial instrument that is within the scope of ASC 480 as a liability if such financial instrument embodies an unconditional obligation to redeem the instrument at a specified date and/or upon an event certain to occur. During the years ended April 30, 2022 and 2021, the Company’s convertible preferred shares were accounted for as equity, with no liability recorded. There was no outstanding preferred stock as of April 30, 2022 and April 30, 2021. Convertible Instruments The Company bifurcates conversion options from their host instruments and accounts for them as free-standing derivative financial instruments according to certain criteria. The criteria includes circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. An exception to this rule when the host instrument is deemed to be conventional as that term is described under applicable U.S. GAAP. When the Company has determined that the embedded conversion options should not be bifurcated from their host instruments, the Company records, when necessary, a beneficial conversion feature (“BCF”) related to the issuance of convertible debt and equity instruments that have conversion features at fixed rates that are in-the-money when issued, and the fair value of warrants issued in connection with those instruments. The BCF for the convertible instruments is recognized and measured by allocating a portion of the proceeds to warrants, based on their relative fair value, and as a reduction to the carrying amount of the convertible instrument equal to the intrinsic value of the conversion feature. The discounts recorded in connection with the BCF and warrant valuation are recognized (a) for convertible debt as interest expense over the term of the debt, using the effective interest method or (b) for convertible preferred stock as dividends at the time the stock first becomes convertible. Remediation and Asset Retirement Obligation Asset retirement obligations (“ARO”), consisting primarily of estimated reclamation costs at the Company’s CK Gold, Keystone and Maggie Creek properties, are recognized in the period incurred and when a reasonable estimate can be made, and recorded as liabilities at fair value. Such obligations, which are initially estimated based on discounted cash flow estimates, are accreted to full value over time through charges to accretion expense. Corresponding asset retirement costs are capitalized as part of the carrying amount of the related long-lived asset and depreciated over the asset’s remaining useful life. AROs are periodically adjusted to reflect changes in the estimated present value resulting from revisions to the estimated timing or amount of reclamation and closure costs. The Company reviews and evaluates its AROs annually or more frequently at interim periods if deemed necessary. U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 Foreign Currency Transactions The reporting and functional currency of the Company is the U.S. dollar. Transactions denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing on the transaction dates. Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency included in the results of operations as incurred. Translation adjustments, and transaction gains or losses, have not had, and are not expected to have, a material effect on the results of operations of the Company and are included in general and administrative expenses. Leases On January 1, 2019, the Company adopted ASC Topic 842, Leases (Topic 842), the Company has elected the ‘package of practical expedients’, which permits it not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. In addition, the Company elected not to apply ASC Topic 842 to arrangements with lease terms of 12 month or less. Operating lease right of use (“ROU”) assets represents the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Company use an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is included in general and administrative expenses in the statements of operations. Income Taxes The Company accounts for income taxes pursuant to the provision of ASC 740, “Accounting for Income Taxes” (“ASC 740”), which requires, among other things, an asset and liability approach to calculating deferred income taxes. The asset and liability approach requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. A valuation allowance is provided to offset any net deferred tax assets for which management believes it is more likely than not that the net deferred asset will not be realized. The Company follows the provision of ASC 740-10, “Accounting for Uncertain Income Tax Positions” (“ASC 740-10”). When tax returns are filed, there may be uncertainty about the merits of positions taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more likely than not recognition threshold are measured at the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefit associated with tax positions taken that exceed the amount measured as described above should be reflected as a liability for uncertain tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. The Company believes its tax positions are all more likely than not to be upheld upon examination. As such, the Company has not recorded a liability for uncertain tax benefits or for any related interest and penalties. In the event that the Company is assessed penalties and/or interest, penalties will be charged to other operating expense and interest will be charged to interest expense. The Company has adopted ASC 740-10-25, “Definition of Settlement”, which provides guidance on how an entity should determine whether a tax position is effectively settled for the purpose of recognizing previously unrecognized tax benefits and provides that a tax position can be effectively settled upon the completion and examination by a taxing authority without being legally extinguished. For tax positions considered effectively settled, an entity would recognize the full amount of tax benefit, even if the tax position is not considered more likely than not to be sustained based solely on the basis of its technical merits and the statute of limitations remains open. The federal and state income tax returns of the Company are subject to examination by the Internal Revenue Service and state taxing authorities, generally for three years after they are filed. In December 2019, the FASB issued ASU 2019-12 – U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 Recent Accounting Pronouncements Accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material effect on the financial statements upon adoption. The Company does not discuss recent pronouncements that are not anticipated to have an effect on or are unrelated to its financial condition, results of operations, cash flows or disclosures. In August 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging Contracts in Entity’s Own Equity (Subtopic 815-40), which eliminates the beneficial conversion and cash conversion accounting models for convertible instruments, amends the accounting for certain contracts in an entity’s own equity that are currently accounted for as derivatives because of specific settlement provisions, and modifies how particular convertible instruments and certain contracts that may be settled in cash or shares impact the diluted EPS calculation. The standard is effective for annual periods beginning after December 15, 2023 for smaller reporting companies, and interim periods within those reporting periods. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those reporting periods. The Company adopted ASU 2020-06 as of the reporting period beginning February 1, 2022. The adoption of this ASU did not have a material impact on the Company’s financial statements. In October 2020, the FASB issued ASU 2020-09, Debt (Topic 470) - Amendments to SEC Paragraphs Pursuant to SEC Release No. 33-10762, or ASU 2020-09, to reflect the SEC’s amended disclosure rules for guaranteed debt securities offerings. The final rule amends the disclosure requirements in SEC Regulation S-X, Rule 3-10, which require entities to separately present financial statements for subsidiary issuers and guarantors of registered debt securities unless certain exceptions are met. The amended rule allows entities to provide summarized financial information of the parent company and its issuers and guarantors on a combined basis either in a note to the financial statements or as part of management’s discussion and analysis. ASU 2020-09 is effective for filings on or after January 4, 2021, with early adoption permitted. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt–Modifications and Extinguishments (Subtopic 470-50), Compensation–Stock Compensation (Topic 718), and Derivatives and Hedging–Contracts in Entity’s Own Equity (Subtopic 815-40). This ASU reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. This ASU provides guidance for a modification or an exchange of a freestanding equity-classified written call option that is not within the scope of another Topic. It specifically addresses: (1) how an entity should treat a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; (2) how an entity should measure the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; and (3) how an entity should recognize the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange. This ASU will be effective for all entities for fiscal years beginning after December 15, 2021. An entity should apply the amendments prospectively to modifications or exchanges occurring on or after the effective date of the amendments. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the effect the adoption of this ASU will have on the consolidated financial statements. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The standard requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606, Revenue from Contracts with Customers, as if the acquirer had originated the contracts, provided such contracts had been appropriately accounted for under ASC 606 by the acquiree, rather than recognizing them at their estimated fair value on the acquisition date as required under the existing guidance. The standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022 on a prospective basis, with early adoption permitted. The Company does not expect the adoption of this standard to have a significant impact on its consolidated financial statements. U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022

GOING CONCERN

GOING CONCERN	12 Months Ended
	Apr. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 3 — GOING CONCERN The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of April 30, 2022, the Company had cash of approximately $ 9.1 8.8 57.9 13.9 12.6 7.5 before deducting fees and other estimated offering expenses. The consolidated financial statements do not include any adjustments relating to the recoverability and classification of asset amounts or the classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

MINERAL RIGHTS

MINERAL RIGHTS	12 Months Ended
	Apr. 30, 2022
Extractive Industries [Abstract]
MINERAL RIGHTS	NOTE 4 — MINERAL RIGHTS The Company’s CK Gold property contains proven and probable mineral reserves and accordingly is classified as a development stage property, as defined in subpart 1300 of Regulation S-K promulgated by the Securities and Exchange Commission (“S-K 1300”). None of the Company’s other properties contain proven and probable mineral reserves and all activities are exploratory in nature. CK Gold Project The Company, through its wholly-owned subsidiary, Gold King Corp., a Nevada corporation, owns the Copper King gold and copper development project (the “CK Gold Property”), which is comprised of two State of Wyoming Metallic and Non-metallic Rocks and Minerals Mining Leases covering an area of approximately 1.8 On July 2, 2014, the Company entered into an Asset Purchase Agreement whereby the Company acquired certain mining leases and other mineral rights comprising the CK Gold Property. The purchase price consisted of (a) cash payment in the amount of $ 1.5 50% 1.5 3,091,738 3,000,000 Keystone Project The Company, through its wholly-owned subsidiary, U.S. Gold Acquisition Corporation (“USGAC”), a Nevada corporation, acquired the mining claims comprising the Keystone Project on May 27, 2016 from Nevada Gold Ventures, LLC (“Nevada Gold”) and Americas Gold Exploration, Inc. under the terms of a purchase and sale agreement. At the time of purchase, the Keystone Project consisted of 284 unpatented lode mining claims situated in Eureka County, Nevada. The purchase price for the Keystone Project consisted of cash payment in the amount of $ 250,000 555,000 184,968 Accordingly, at the date of acquisition, the Company recorded a total cost of the acquired mineral properties of $ 1,028,885 989,968 38,917 under the terms of the purchase and sale agreement, Nevada Gold retained additional NSR rights of 0.5% with regard to certain claims and 3.5% with regard to certain other claims. Under the terms of the Purchase and Sale Agreement, the Company may buy down one percent ( 1% 2,000,000 1% 5,000,000 U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 Gold Bar North Project In August 2017, the Company closed on a transaction under a purchase and sale agreement executed in June 2017 with Nevada Gold and USGAC, pursuant to which Nevada Gold sold and USGAC purchased all rights, title and interest in the Gold Bar North Property, a gold development project located in Eureka County, Nevada. The purchase price for the Gold Bar North Property was: (a) cash payment in the amount of $ 20,479 35,850 56,329 Maggie Creek Project On September 10, 2019, the Company, NumberCo and the NumberCo Shareholders, entered into the Share Exchange Agreement, pursuant to which, among other things, the Company agreed to issue to the NumberCo Shareholders 200,000 NumberCo owns all of the issued and outstanding shares of Orevada Metals Inc. (“Orevada”), a corporation under the laws of the state of Nevada. At the time of acquisition, the Company acquired from NumberCo cash of $ 159,063 125,670 50% 4.5 250,000 60 250,000 20% 70% 815,000 Pursuant to ASU 2017-01 and ASC 805, each titled “Business Combinations”, the Company analyzed the Share Exchange Agreement to determine if the Company acquired a business or assets. Based on this analysis, it was determined that the Company acquired assets, primarily consisting of cash and the right to an Option Agreement. The Company excluded the cash received in the determination of the gross assets and concluded that the right to the Option Agreement represents substantially all of the fair value of the gross assets acquired. If substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the asset is not considered a business. The monetary value of the 200,000 2,020,000 The 200,000 2,020,000 10.10 U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 The relative fair value of the assets acquired and liabilities assumed were based on management’s estimates of the fair values on September 10, 2019, the date of the Share Exchange Agreement. Based upon the purchase price allocation, the following table summarizes the estimated relative fair value of the assets acquired and liabilities assumed at the date of acquisition: SCHEDULE OF FAIR VALUE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED Cash $ 159,063 Mineral property – Maggie Creek 1,986,607 Total assets acquired at fair value 2,145,670 Total Liabilities assumed at fair value (125,670 ) Total purchase consideration $ 2,020,000 Northern Panther Merger Agreement On August 10, 2020, the Company entered into the Merger Agreement with Acquisition Corp., NPRC and the Stockholder Representative named therein, pursuant to which Acquisition Corp. merged with and into NPRC, with NPRC surviving as a wholly-owned subsidiary of the Company (such transaction, the “Merger”). At the closing of the Merger, which occurred on August 11, 2020, the shares of common stock of NPRC outstanding immediately prior to the Merger (other than shares held as treasury stock) were converted into and represent the right to receive (i) 581,053 106,894 0.001 1 for 10 basis 1,068,940 106,894 Pursuant to ASU 2017-01 and ASC 805, the Company analyzed the Merger Agreement to determine if the Company acquired a business or acquired assets. Based on this analysis, it was determined that the Company acquired assets primarily consisting of 1) cash and 2) mineral rights on a gold exploration project in Idaho called the Challis Gold exploration project In accordance with ASC 805-50-30 “Business Combinations”, the Company determined that if the consideration paid is not in the form of cash, the measurement may be based on either (i) the cost which is measured based on the fair value of the consideration given or (ii) the fair value of the assets (or net assets) acquired, whichever is more clearly evident and thus more reliably measurable. Accordingly, the total consideration given consist of the shares of common stock and common stock equivalents of 1,650,000 7.6612 $12,640,980 SCHEDULE OF FAIR VALUE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED Cash – US Dollars $ 2,500,000 Intangible assets – (mineral rights) Challis Gold Project 10,249,632 Total assets acquired at fair value 12,749,632 Total Liabilities assumed at fair value – US Dollars (108,652 ) Total purchase consideration $ 12,640,980 As of the dates presented, mineral properties consisted of the following: SCHEDULE OF MINERAL PROPERTIES April 30, 2022 April 30, 2021 CK Gold Project $ 3,091,738 $ 3,091,738 Keystone Project 1,028,885 1,028,885 Maggie Creek Project 1,986,607 1,986,607 Challis Gold Project 10,249,632 10,249,632 Total $ 16,356,862 $ 16,356,862 U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Apr. 30, 2022
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 5 — PROPERTY AND EQUIPMENT As of the dates presented, property consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT April 30, 2022 April 30, 2021 Site costs $ 203,320 $ 169,803 Land 175,205 - Computer equipment 7,265 3,498 Vehicle 39,493 39,493 Total 425,283 212,794 Less: accumulated depreciation (75,366 ) (40,572 ) Total $ 349,917 $ 172,222 For the years ended April 30, 2022 and 2021, depreciation expense amounted to $ 34,794 22,886

ASSET RETIREMENT OBLIGATION

ASSET RETIREMENT OBLIGATION	12 Months Ended
	Apr. 30, 2022
Asset Retirement Obligation Disclosure [Abstract]
ASSET RETIREMENT OBLIGATION	NOTE 6 — ASSET RETIREMENT OBLIGATION In conjunction with various permit approvals permitting the Company to undergo exploration activities at the CK Gold, Keystone and Maggie Creek projects, the Company has recorded an ARO based upon the reclamation plans submitted in connection with the various permits. The following table summarizes activity in the Company’s ARO for the years presented: SCHEDULE OF ASSET RETIREMENT OBLIGATION April 30, 2022 April 30, 2021 Balance, beginning of year $ 204,615 $ 168,392 Addition and changes in estimates 33,517 18,746 Accretion expense 22,064 17,477 Balance, end of year $ 260,196 $ 204,615 For the years ended April 30, 2022 and 2021, accretion expense amounted to $ 22,064 17,477

OPERATING LEASE RIGHT-OF-USE AS

OPERATING LEASE RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES	12 Months Ended
	Apr. 30, 2022
Operating Lease Right-of-use Assets And Operating Lease Liabilities
OPERATING LEASE RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES	NOTE 7 – OPERATING LEASE RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES On May 1, 2021, the Company entered into a lease agreement for its lease facility in Cheyenne, Wyoming. The term of the lease is for a two-year period from May 2021 to May 2023 1,667 three years On September 1, 2021, the Company entered into another lease agreement for its lease facility in Cheyenne, Wyoming. The term of the lease is for a two-year period from September 2021 to August 2023. 3,100 2,950 two years During the year ended April 30, 2022, lease expense of $ 44,200 U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 Right-of- use assets are summarized below: SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES April 30, 2022 April 30, Operating leases $ 64,064 $ - Operating Lease liabilities are summarized below: April 30, 2022 April 30, 2021 Operating lease, current portion $ 55,630 $ - Operating lease, long term portion 8,734 - Total lease liability $ 64,364 $ - The weighted average remaining lease term for the operating leases is 1.17 8.0 The following table includes supplemental cash and non-cash information related to the Company’s lease: SCHEDULE OF SUPPLEMENTAL CASH FLOW AND NON-CASH INFORMATION RELATED TO LEASES 1 2 Years ended April 30, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating lease $ 44,500 $ - Lease assets obtained in exchange for new operating lease liabilities $ 104,095 $ - Minimum lease payments under non-cancelable operating leases at April 30, 2022 are as follows: SCHEDULE OF FUTURE MINIMUM PAYMENTS REQUIRED UNDER NON-CANCELABLE OPERATING LEASES 1 Year ended April 30, 2023 56,000 Year ended April 30, 2024 11,800 Total $ 67,800 Less: imputed interest (3,436 ) Total present value of lease liability $ 64,364

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Apr. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 8 — RELATED PARTY TRANSACTIONS On January 7, 2021, the Company entered into a one-year agreement (“January 2021 Agreement”) with the director providing for an annual fee of $ 86,000 50,000 36,000 3,000 3,222 5,814 36,000 15,750 On September 16, 2020, the Company and David Rector, the Company’s former Chief Operating Officer, agreed by mutual understanding, that Mr. Rector’s employment as an officer and employee of the Company was terminated, effective as of October 31, 2020. In connection with Mr. Rector’s departure, the Company entered into a General Release and Severance Agreement with Mr. Rector, pursuant to which Mr. Rector provided certain transition services to the Company from the Separation Date until December 31, 2020. The Company paid consulting fees to Mr. Rector of $ 30,000 U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 On March 19, 2021, the Company and Edward Karr, the Company’s former Executive Chairman, agreed by mutual understanding, that Mr. Karr’s employment as an officer and employee, and his service as a member of the board of directors, of the Company was terminated, effective March 19, 2021. In connection with Mr. Karr’s departure, the Company entered into a General Release and Severance Agreement with Mr. Karr, as amended, pursuant to which Mr. Karr provided certain transition services to the Company through the Separation Date. Pursuant to the Separation Agreement, Mr. Karr is entitled to receive any equity awards granted to Mr. Karr by the Company. Additionally, on March 19, 2021, the Company entered into a one-year agreement (“March 2021 Agreement”) for general corporate advisory services to be provided by Mr. Karr for an annual fee of $ 180,000 60,000 120,000 10,000 5,168 7,353 120,000 16,371 Additionally, on January 24, 2022, the Company issued an aggregate of 13,564 5,310 five

WARRANT LIABILITY

WARRANT LIABILITY	12 Months Ended
	Apr. 30, 2022
Warrant Liability
WARRANT LIABILITY	NOTE 9 — WARRANT LIABILITY As of April 30, 2022, the Company’s warrants liability was valued at $ 2,440,000 The Company utilized a Monte Carlo Simulation model to estimate the fair value of the March 2022 warrants, which incorporates significant inputs that are not observable in the market, and thus represents a Level 3 measurement as defined in ASC 820. The unobservable inputs utilized for measuring the fair value of the contingent consideration reflect management’s own assumptions about the assumptions that market participants would use in valuing the contingent consideration. The Company determined the fair value by using the following key inputs to the Monte Carlo Simulation Model: Initial Measurement The Company accounts for the 625,000 3,652,000 The key inputs for the warrant liability were as follows as of March 18, 2022: SCHEDULE OF KEY INPUTS FOR THE WARRANT LIABILITY Key Valuation Inputs Expected term (years) 5.50 Annualized volatility 84.4 % Volatility if fundamental transaction occurs 100.00 % Risk-free interest rate 2.15 % Stock price $ 8.00 Dividend yield 0.00 % Exercise price $ 8.60 Probability of fundamental transaction 85 % Date of fundamental transaction (1) 2 5.5 1) The fundamental transaction is simulated to occur 85% during one trading day through the 3.5 year period, 85% of the time. U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 Subsequent Measurement The key inputs for the warrant liability were as follows as of April 30, 2022: Key Valuation Inputs Expected term (years) 5.39 Annualized volatility 84.2 % Volatility if fundamental transaction occurs 100.00 % Risk-free interest rate 2.92 % Stock price $ 5.65 Dividend yield 0.00 % Exercise price $ 8.60 Probability of fundamental transaction 85 % Date of fundamental transaction 1.90 5.4 The following table sets forth a summary of the changes in the fair value of the Level 3 warrant liability for the year ended April 30, 2022: SCHEDULE OF CHANGES IN FAIR VALUE OF LEVEL THREE WARRANT LIABILITY Warrant Liability Fair value as of April 30, 2021 $ — Initial fair value of warrant liability upon issuance 3,652,000 Change in fair value (1,212,000 ) Fair value as of April 30, 2022 $ 2,440,000

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	12 Months Ended
	Apr. 30, 2022
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 10 — STOCKHOLDERS’ EQUITY As of April 30, 2022, authorized capital stock consisted of 200,000,000 0.001 50,000,000 0.001 1,300,000 400,000 45,002 7,402 2,500 1,250 127 106,894 921,666 Series H Convertible Preferred Stock Northern Panther Merger Agreement On August 10, 2020, the Company entered into the Merger Agreement with Acquisition Corp., NPRC and the Stockholder Representative named therein, pursuant to which the Company agreed to issue (i) 581,053 106,894 On August 11, 2020, the Company filed a Certificate of Designations, Preferences and Rights of the Series H Preferred Stock with the Secretary of State of the State of Nevada amending its Articles of Incorporation to establish the Series H Preferred Stock and the number, relative rights, preferences and limitations thereof. Pursuant to the Certificate of Designations, 106,894 The Series H Preferred Stock was convertible into common stock on a 1 for 10 basis 1,068,940 106,894 In connection with the Merger, Luke Norman Consulting Ltd. received a finder’s fee equal to the quotient of (a) 5% of the purchase value for the Merger and (b) the 30-day Volume Weighted Average Price (“VWAP”) of a share of the Company’s common stock as reported on the Nasdaq Capital Market prior to the execution Merger Agreement, which was paid in 82,500 U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 The total consideration given consist of the shares of common stock and common stock equivalents of 1,650,000 7.6612 12,640,980 During the year ended April 30, 2021, all Series H Preferred Stock had converted and there were no Series I Convertible Preferred Stock Securities Purchase Agreement In connection with the Merger, on August 10, 2020, the Company entered into a securities purchase agreement (the “SPA”) with certain investors, pursuant to which the Company sold to such investors in a private placement (i) an aggregate of 921,666 0.001 921,666 6.00 5,530,004 On August 11, 2020, the Company filed a Certificate of Designation of Rights, Powers, Preferences, Privileges and Restrictions of the Series I Preferred Stock (the “Series I Certificate of Designation”) with the Secretary of State of the State of Nevada amending its Articles of Incorporation to establish the Series I Preferred Stock and the number, relative rights, powers, preferences, privileges and restrictions thereof. Pursuant to the Series I Certificate of Designations, 921,666 921,666 921,666 The fair value of the Series I Preferred Stock and warrants if converted on the date of issuance was greater than the value allocated to the Series I Preferred Stock and warrants. As a result, the Company recorded a BCF of approximately $ 5.5 During the year ended April 30, 2021, all Series I Preferred Stock had converted and there were no Common Stock issued for cash Pursuant to the February 2021 Purchase Agreement closed on February 1, 2021, the Company issued and sold to the Purchasers (i) in the Offering an aggregate of 914,136 10.54 457,068 14.50 9,635,967 636,890 A holder of such warrant will not have the right to exercise any portion of its warrants if the holder, together with its affiliates, would beneficially own in excess of 4.99% (or 9.99% at the election of the holder prior to the date of issuance) of the number of shares of common stock outstanding immediately after giving effect to such exercise (the “Beneficial Ownership Limitation”); provided, however, that upon 61 days’ prior notice to the Company, the holder may increase the Beneficial Ownership Limitation, provided that in no event shall the Beneficial Ownership Limitation exceed 9.99%. On January 27, 2021, the Company entered into an amendment to that certain engagement agreement (“Engagement Agreement Amendment”) with Palladium Capital Group, LLC (“Palladium”), dated March 29, 2020, in connection with the Offering, among other things. Pursuant to the Engagement Agreement Amendment, the Company agreed to pay Palladium a cash fee equal to 8 46,490 U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 On February 14, 2022, the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with certain institutional and accredited investors in connection with a registered direct offering of 384,741 6.50 192,370 8.00 2,500,817 30,767 On March 15, 2022, the Company entered into a definitive agreement (the “Definitive Agreement”) with a single institutional investor in connection with a registered direct offering of 625,000 shares of the Company’s common stock at a price of $ 8.00 per share and warrants to purchase 625,000 shares of the Company’s common stock at an exercise price of $ 8.60 per share (the “Securities”), resulting in total gross proceeds of $ 5 415,000 and legal related offering expenses of $ 25,399 440,399 The warrants are exercisable six months following the date of issuance and will expire 5 years following the initial exercise date. The closing of the sale of the Securities occurred on March 18, 2022. These 625,000 SCHEDULE OF WARRANT LIABILITY Net proceeds on March 18, 2022 $ 4,559,601 Less: Proceeds allocated to warrant liability (3,652,000 ) Plus: Offering cost associated with warrant liability 190,840 Net proceeds on March 18, 2022 allocated to equity $ 1,098,441 Pursuant to ASC 470-20-25, if the warrants are classified as liability, the proceeds should be allocated first to the warrants based on their fair value (not relative fair value). The residual should be allocated to the remaining equity instruments. Common Stock Issued, Restricted Stock Awards, and RSU’s Granted for Services On July 31, 2020, the Company granted to four former directors of the Company an aggregate of 1,875 1,875 15,244 8.13 On August 11, 2020, the Company issued 82,500 82,500 786,225 9.53 On September 16, 2020, the Company and David Rector, the Company’s former Chief Operating Officer, agreed by mutual understanding that Mr. Rector’s employment as an officer and employee of the Company would terminate, effective as of October 31, 2020 (the “Separation Date”). In connection with Mr. Rector’s departure, the Company entered into a General Release and Severance Agreement with Mr. Rector (the “Separation Agreement”), pursuant to which Mr. Rector provided certain transition services to the Company from the Separation Date until December 31, 2020. Pursuant to the Separation Agreement, Mr. Rector received (i) a prorated annual bonus for the 2020 calendar year and through the Separation Date equal to $ 150,000 150,000 18,502 150,000 8.11 77,250 7,500 7,500 7,500 On September 17, 2020, the Compensation Committee of the Board awarded five directors of the Company an aggregate of 12,500 12,500 140,125 11.21 U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 On September 17, 2020, the Company issued 30,107 The Company agreed to pay Mr. Karr a bonus in the amount of $450,000 payable as follows: (i) 75% or $337,500 of the bonus payable in fully vested shares of common stock and (ii) the remaining 25% or $112,500 in cash which was paid in October 2020. The $ 337,500 30,107 337,500 11.21 On October 31, 2020, the Company granted four former directors of the Company an aggregate of 1,875 1,875 15,206 8.11 On October 31, 2020, the Company paid its former Chief Financial Officer for accounting services rendered from February 2020 to September 2020 by issuing 1,857 7.08 13,145 On November 9, 2020, the Company issued an aggregate of 188 1,598 8.50 On December 8, 2020, the Company entered into a one-year consulting agreements for investor relation services under which it was required to pay for services either in cash or shares of the Company’s common stock. On December 8, 2020, the Company issued 5,009 56,250 11.23 23,437 32,813 32,813 On December 9, 2020, the Company granted an aggregate of 254,464 The RSUs vested 25% on the date of issuance and 25% vest on each of the first, second and third anniversaries of the date of grant. 254,464 2,852,541 11.21 On December 9, 2020, the Company granted 50,000 The RSUs vesting terms were 25% on the date of issuance and 25% vest on each of the first, second and third anniversaries of the date of grant. 50,000 560,500 11.21 560,500 50,000 On December 9, 2020, the Company granted an aggregate of 13,392 13,392 150,124 11.21 On January 7, 2021, the Company entered into another one-year agreement with a director of the Company (see Note 8). On January 7, 2021, the Company issued 3,222 50,000 15.52 16,667 33,333 33,333 Between January 2021 and April 2021, the Company issued an aggregate of 8,047 8,047 95,565 11.88 U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 On February 14, 2021, the Company granted an aggregate of 3,946 3,946 50,000 12.67 On June 1, 2021, the Company granted 2,097 2,097 25,000 11.92 On June 9, 2021, the Company issued 25,000 25,000 258,500 10.34 14,203 244,297 On July 19, 2021, the Company granted 15,322 15,322 150,000 9.79 25% On October 20, 2021, the Company issued 1,116 On October 22, 2021, the Company issued an aggregate of 2,162 2,162 22,500 10.41 On October 22, 2021, the Company issued an aggregate of 2,824 2,824 30,000 10.62 5,000 25,000 On January 24, 2022, the Company issued an aggregate of 47,108 47,108 326,475 6.93 On January 24, 2022, the Company issued an aggregate of 13,852 13,852 96,000 6.93 On January 24, 2022, the Company issued an aggregate of 25,685 25,685 178,000 6.93 On April 9, 2022, the Company issued 25,000 25,000 157,000 6.28 13,083 143,917 On April 22, 2022, the Company issued an aggregate of 2,749 2,749 22,500 8.18 U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 On April 22, 2022, the Company issued an aggregate of 3,708 3,708 30,000 8.09 On April 22, 2022, the Company issued an aggregate of 5,814 5,814 50,000 8.60 16,667 33,333 On April 25, 2022, the Company issued 5,168 7,353 5,168 60,000 11.61 7,500 52,500 7,353 60,000 8.16 7,500 52,500 On April 25, 2022, the Company issued 12,634 12,634 130,000 10.29 14,286 14,286 130,000 9.10 130,000 16,250 113,750 Total stock compensation expense for awards issued for services of $ 1,386,512 1,868,368 1,399,698 1.66 Common Stock issued for exercise of Stock Warrants In October 2020, the Company issued 10,000 70,000 In November and December 2020, the Company issued an aggregate of 168,571 1,179,997 In December 2020, the Company issued 33,858 109,688 Between February 2021 and March 2021, the Company issued an aggregate of 178,571 1,249,997 In February 2021, the Company issued 91,894 166,666 In April 2022, the Company issued 166,667 1,000,000 U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 Equity Incentive Plan In August 2017, the Board approved the Company’s 2017 Plan including the reservation of 165,000 On August 6, 2019, the Board approved and adopted, subject to stockholder approval, the 2020 Plan. The 2020 Plan reserves 330,710 836,385 1,167,095 Stock options The following is a summary of the Company’s stock option activity during the years ended April 30, 2022 and 2021: SCHEDULE OF STOCK OPTION ACTIVITY Number of Weighted Weighted Balance at April 30, 2020 100,000 $ 14.31 2.87 Granted — — — Exercised — — — Forfeited — — — Cancelled (5,000 ) — — Balance at April 30, 2021 95,000 $ 14.63 1.57 Granted 58,060 6.93 5.00 Exercised — — — Forfeited — — — Cancelled (5,000 ) 13.40 — Balance at April 30, 2022 148,060 11.65 2.23 Options exercisable at end of period 128,410 $ 12.38 Options expected to vest 19,650 $ 6.93 Weighted average fair value of options granted during the period $ 4.52 At April 30, 2022 and 2021, the aggregate intrinsic value of options outstanding and exercisable were de minimis In September 2020, the Board approved the acceleration of the vesting terms of the 50,000 25,000 75,000 December 21, 2022 133,439 75,000 On January 24, 2022, the Company granted an aggregate of 26,200 5 6.93 The options vest 25% on the date of grant and 25% each next three years U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 On January 24, 2022, the Company granted an aggregate of 21,240 5 6.93 On January 24, 2022, the Company granted an aggregate of 10,620 5 6.93 The Company used the Black-Scholes model to determine the fair value of stock options granted during the year ended April 30, 2022. In applying the Black-Scholes option pricing model to options granted, the Company used the following assumptions: SCHEDULE OF STOCK OPTION For the Year Ended Risk free interest rate 1.53 % Dividend yield 0.00 % Expected volatility 82 % Contractual term (in years) 5.0 Forfeiture rate 0.00 % Stock-based compensation for stock options recorded in the consolidated statements of operations totaled $ 183,475 194,761 78,948 2.73 Stock Warrants The following is a summary of the Company’s stock warrant activity during the years ended April 30, 2022 and 2021: SCHEDULE OF STOCK WARRANT ACTIVITY Number of Warrants Weighted Average Weighted Average Remaining Contractual Warrants with no Class designation: Balance at April 30, 2020 527,378 $ 14.83 3.73 Granted 1,425,224 9.09 5.18 Exercised (523,808 ) 6.68 4.03 Forfeited — — — Canceled — — — Balance at April 30, 2021 1,428,794 $ 12.00 4.08 Granted 817,370 8.46 5.39 Exercised (166,667 ) 6.00 3.33 Forfeited (170,235 ) 31.25 — Canceled — — — Balance at April 30, 2022 1,909,262 9.29 4.38 Class A Warrants: Balance at April 30, 2020 219,375 11.40 4.22 Granted — — — Exercised (109,688 ) 11.40 3.22 Forfeited — — — Canceled — — — Balance at April 30, 2021 109,687 11.40 3.22 Granted — — — Exercised — — — Forfeited — — — Canceled — — — Balance at April 30, 2022 109,687 11.40 2.22 Total Warrants Outstanding at April 30, 2022 2,018,949 $ 9.41 4.27 Warrants exercisable at end of period 1,393,949 $ 9.77 Weighted average fair value of warrants granted during the period $ — U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 As of April 30, 2022, the aggregate intrinsic value of warrants outstanding and exercisable were de minimis In relation to the issuance of the shares of Series I Convertible Preferred Stock on August 10, 2020, the Company issued 921,666 5,530,004 SCHEDULE OF WARRANTS ISSUED Warrants Issued During the Year ended Expected volatility 169.0 % Stock price on date of grant $ 9.53 Exercise price $ 6.00 Expected dividends - Expected term (in years) 5.00 Risk-free rate 0.27 % Expected forfeiture rate 0 % The fair value of the warrants was credited to Additional paid-in capital, and also represented a deemed dividend to those shareholders, which was charged to Additional paid-in capital, therefore with no effect on that account. In October 2020, the Company issued 10,000 70,000 In November and December 2020, the Company issued an aggregate of 168,571 1,179,997 In December 2020, the Company issued 33,858 109,688 Between February 2021 and March 2021, the Company issued an aggregate of 178,571 1,249,997 In February 2021, the Company issued 91,894 166,666 Concurrent with the sales of common stock on February 1, 2021, the Company issued 457,068 14.50 46,490 Concurrent with the sales of common stock on February 14, 2022, the Company issued warrants to purchase 192,370 8.00 five years Concurrent with the sale of common stock on March 18, 2022, the Company issued warrants to purchase 625,000 8.60 5 These These 625,000 U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 In April 2022, the Company issued 166,667 1,000,000

NET LOSS PER COMMON SHARE

NET LOSS PER COMMON SHARE	12 Months Ended
	Apr. 30, 2022
Earnings Per Share [Abstract]
NET LOSS PER COMMON SHARE	NOTE 11 — NET LOSS PER COMMON SHARE Net loss per share of common stock is calculated in accordance with ASC 260, “Earnings Per Share”. Basic loss per share is computed by dividing net loss available to common stockholder, by the weighted average number of shares of common stock outstanding during the period. The following were excluded from the computation of diluted shares outstanding as they would have had an anti-dilutive impact on the Company’s net loss. In periods where the Company has a net loss, all dilutive securities are excluded. SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE April 30, 2022 April 30, 2021 Common stock equivalents: Restricted stock units 441,402 346,802 Stock options 148,060 95,000 Stock warrants 2,018,949 1,538,481 Total 2,608,411 1,980,283

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Apr. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 12 — COMMITMENTS AND CONTINGENCIES Mining Leases The CK Gold property position consists of two State of Wyoming Metallic and Non-metallic Rocks and Minerals Mining Leases. These leases were assigned to the Company in July 2014 through the acquisition of the CK Gold Project. Leases to explore for or use of natural resources are outside the scope of ASU 2016-02 “Leases”. The Company’s rights to the CK Gold Project arise under two State of Wyoming mineral leases; 1) State of Wyoming Mining Lease No. 0-40828, consisting of 640 480 Lease 0-40828 was renewed in February 2013 ten ten 2.00 SCHEDULE OF ROYALTY PAYABLE FOB Mine Value per Ton Percentage Royalty $ 00.00 50.00 5 % $ 50.01 100.00 7 % $ 100.01 150.00 9 % $ 150.01 10 % The future minimum lease payments at April 30, 2022 under these mining leases are as follows, each payment to be made in the fourth quarter of the respective fiscal years: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS 1 Fiscal 2023 $ 2,240 Fiscal 2024 960 Total $ 3,200 The Company may renew each lease for a third ten 3.00 4.00 U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 Maggie Creek option: The Maggie Creek option agreement grants the Company the exclusive right and option to earn-in and acquire up to 50 seven 4,500,000 300,000 500,000 The remaining required Initial Earn-in payments at April 30, 2022, as amended: SCHEDULE OF RIGHT AND OPTION TO EARN-IN AND ACQUIRE UNDIVIDED INTEREST Fiscal 2023 $ 700,000 Fiscal 2024 1,000,000 Fiscal 2025 1,000,000 Fiscal 2026 1,000,000 $ 3,700,000 Once the Initial Earn-in has been met, the Company is required to pay an additional $ 250,000 50 NPRC option: Pursuant to the Merger, the Company acquired from NPRC a mineral property called Challis Gold located in Idaho pursuant to an option agreement dated in February 2020 which was later amended in June 2020. The Company satisfied the minimum royalty payment of $ 25,000 The annual advance minimum royalty payments at April 30, 2022 under the option agreement are as follows, each payment to be made in the beginning on the first anniversary of the effective date of this option agreement and continuing until the tenth anniversary: SCHEDULE OF ADVANCE MINIMUM ROYALTY PAYMENTS 1 Fiscal 2023 $ 25,000 Fiscal 2024 25,000 Fiscal 2025 25,000 Fiscal 2026 25,000 Fiscal 2027 and thereafter 125,000 Total $ 225,000 100 Exploration Access and Option to Lease Agreement On August 25, 2021 (“Effective Date”), the Company entered into an Exploration Access and Option to Lease Agreement (the “Agreement”) with a private-party landowner (the “Landowner”) whereby the Landowner granted the Company an option (the “Option”) to lease and right of way on a property located in Laramie County, Wyoming. The Company may exercise the Option for five years (“Option Term”) from the Effective Date. During the Option, the Landowner granted non-exclusive rights (the “Exploration Access Rights”) to the Company to use the surface of the property for an annual exploration and access right payment of $ 10,000 35,780 6,560 42,340 At any time during the Option Term, the Company may exercise the Option by providing a written notice to the Landowner and the Company shall pay a one-time right of way payment of $ 26,240 50,000 13,120 U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 In consideration for the option rights, lease rights and right of way rights under this Agreement, the Company agreed to grant the Landowner shares of the Company’s common stock worth $ 50,000 At any time during the Option Term, the Company may terminate this Agreement by providing a written notice to the Landowner. Upon termination, the Landowner is entitled to retain any payments already made and the Company shall have no further obligation after the date of termination. The Agreement, including the Option and the Exploration Access Rights, may be extended for a period of five years upon written notice from the Company. In the absence of such notice, the Agreement shall automatically terminate at the end of the Option Term. Currently, the Company has not exercised the Option. Legal Matters From time to time the Company may be involved in claims and legal actions that arise in the ordinary course of business. To the Company’s knowledge, there are no material pending legal proceedings to which the Company is a party or of which any of the Company’s property is the subject.

INCOME TAX

INCOME TAX	12 Months Ended
	Apr. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAX	NOTE 13 — INCOME TAX The Company has a net operating loss carryforward for federal tax purposes totaling approximately $ 44.8 13.2 31.6 80 7.2 state net operating loss carryforwards that expire through the year 2038 The deferred tax assets and deferred tax liabilities are summarized as follows: SCHEDULE OF NET DEFERRED TAX ASSET AND LIABILITIES 1 2 Deferred tax assets: April 30, 2022 April 30, 2021 Net operating loss carryover $ 9,970,000 $ 6,793,000 Stock-based compensation 2,234,000 2,776,000 Capitalized exploration costs — 431,000 Accrued remediation costs 11,000 7,000 Alternative minimum tax credit carryover — — Subtotal 12,215,000 10,007,000 Less: valuation allowance (10,063,000 ) (7,855,000 ) Total deferred tax asset $ 2,152,000 $ 2,152,000 Deferred tax liabilities: April 30, 2022 April 30, 2021 Acquired mineral rights in excess of tax basis in a tax-free merger $ (2,152,000 ) $ (2,152,000 ) Total deferred tax liabilities (2,152,000 ) (2,152,000 ) Net deferred tax asset (liabilities) $ — $ — On December 22, 2017, the United States enacted the Tax Cuts and Jobs Act (the “Act”) resulting in significant modifications to existing law. The Company completed the accounting for the effects of the Act during the fiscal year April 30, 2019. The Company recognized an income tax benefit of $438,145 438,000 The Company will amend its fiscal year 2018 and 2019 tax returns to deduct capitalized exploration expenses that should have been deducted under the Act. Such impact has been updated on the tax provision. The effect of those amendments will increase total deductions by approximately $ 755,000 159,000 On August 10, 2020, the Company acquired mineral rights totaling $ 10,249,632 U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 As of April 30, 2022, the Company had deferred tax assets and liabilities arising principally from the acquisition of the mineral rights described above and the net operating loss carryforward for income tax purposes, multiplied by an expected blended federal and state tax rate of 21.0 0 100 The differences between the provision (benefit) for federal income taxes and federal income taxes computed using the U.S. statutory tax rate of 21 SCHEDULE OF EFFECTIVE TAX RATE Year Ended April 30, 2022 2021 Federal income tax provision (benefit) based on statutory rate $ (2,925,000 ) 21.0 % $ (2,601,000 ) 21.0 % State income tax provision (benefit), net of federal taxes — — % — — % Change in effective state tax rate — — % — — % Change in prior year estimate 717,000 (5.1 )% 43,000 (0.3 )% Increase (decrease) in valuation allowance 2,208,000 (15.9 )% 2,558,000 (20.7 )% Total tax provision (benefit) on income (loss) $ — — % $ — — % The Company has assessed its tax positions and has determined that it has not taken a position that would give rise to an unrecognized tax liability being reported. In the event that the Company is assessed penalties and/or interest, penalties will be charged to other operating expense and interest will be charged to interest expense. The Company operates exclusively in the United States and in various state jurisdictions but primarily in the states of Wyoming and Nevada. For both federal and state income tax purposes, the Company’s fiscal 2019 through 2022 tax years remain open for examination by the tax authorities under the general three-year statute of limitations.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
Basis of presentation and principles of consolidation	Basis of presentation and principles of consolidation The accompanying consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), the instructions to Form 10-K, and the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) for financial information, which includes the consolidated financial statements and presents the consolidated financial statements of the Company and its wholly-owned subsidiaries as of April 30, 2022. All intercompany transactions and balances have been eliminated. It is management’s opinion that all material adjustments (consisting of normal recurring adjustments) have been made, which are necessary for a fair financial statement presentation. U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022
Use of Estimates and Assumptions	Use of Estimates and Assumptions In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheet, and revenues and expenses for the period then ended. Actual results may differ significantly from those estimates. Significant estimates made by management include, but are not limited to, valuation of mineral rights, stock-based compensation, the fair value of common and preferred stock, valuation of warrant liability, asset retirement obligations and the valuation of deferred tax assets and liabilities.
Fair Value Measurements	Fair Value Measurements The Company has adopted Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures” (“ASC 820”), for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied in accordance with U.S. GAAP, which requires the use of fair value measurements, establishes a framework for measuring fair value and expands disclosure about such fair value measurements. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below: Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions. The Company analyzes all financial instruments with features of both liabilities and equity under the Financial Accounting Standard Board’s (“FASB”) accounting standard for such instruments. Under this standard, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s warrant liability for warrants issued in the Definitive Agreement (see Note 9) was estimated using a Monte Carlo simulation model using Level 3 inputs. At April 30, 2021, the Company had no financial instruments or liabilities accounted for at fair value on a recurring basis or nonrecurring basis.
Prepaid expenses and other current assets	Prepaid expenses and other current assets Prepaid expenses and other current assets of $ 787,902 430,360
Property	Property Property is carried at cost. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in income in the year of disposition. Depreciation is calculated on a straight-line basis over the estimated useful life of the assets, generally three to five years U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022
Impairment of long-lived assets	Impairment of long-lived assets The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. The Company did not recognize any impairment during the years ended April 30, 2022 and 2021.
Mineral Rights	Mineral Rights Costs of leasing, exploring, carrying and retaining unproven mineral lease properties are expensed as incurred. The Company expenses all mineral exploration costs as incurred. Where the Company has identified proven and probable mineral reserves on any of its properties, development costs will be capitalized when all the following criteria have been met, a) the Company receives the requisite operating permits, b) completion of a favorable Feasibility Study and c) approval from the Company’s board of director’s authorizing the development of the ore body. Until such time all these criteria have been met the Company records pre-development costs to expense as incurred. When a property reaches the production stage, the related capitalized costs will be amortized on a units-of-production basis over the proven and probable reserves following the commencement of production. The Company assesses the carrying costs of the capitalized mineral properties for impairment under ASC 360-10, “Impairment of Long-Lived Assets”, and evaluates its carrying value under ASC 930-360, “Extractive Activities—Mining”, annually. An impairment is recognized when the sum of the expected undiscounted future cash flows is less than the carrying amount of the mineral properties. Impairment losses, if any, are measured as the excess of the carrying amount of the mineral properties over its estimated fair value. To date, the Company has expensed all exploration and pre-development costs as none of its properties have satisfied the criteria above for capitalization. ASC 930-805, “Extractive Activities—Mining: Business Combinations” (“ASC 930-805”), states that mineral rights consist of the legal right to explore, extract, and retain at least a portion of the benefits from mineral deposits. Mining assets include mineral rights. Acquired mineral rights are considered tangible assets under ASC 930-805. ASC 930-805 requires that mineral rights be recognized at fair value as of the acquisition date. As a result, the direct costs to acquire mineral rights are initially capitalized as tangible assets. Mineral rights include costs associated with acquiring patented and unpatented mining claims. ASC 930-805 provides that in measuring the fair value of mineral assets, an acquirer should take into account both: ● The value beyond proven and probable reserves (“VBPP”) to the extent that a market participant would include VBPP in determining the fair value of the assets. ● The effects of anticipated fluctuations in the future market price of minerals in a manner that is consistent with the expectations of market participants. Leases to explore for or use of natural resources are outside the scope of ASU 2016-02, “Leases”.
Share-Based Compensation	Share-Based Compensation Share-based compensation is accounted for based on the requirements of ASC 718, “Compensation—Stock Compensation” (“ASC 718”), which requires recognition in the financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the period the employee or director is required to perform the services in exchange for the award (presumptively, the vesting period). ASC 718 also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award. U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022
Accounting for Warrants	Accounting for Warrants Warrants are accounted for in accordance with the applicable accounting guidance provided in ASC 815, “Derivatives and Hedging” (“ASC 815”) as either derivative liabilities or as equity instruments, depending on the specific terms of the agreements. The Company classifies as equity any contracts that (i) require physical settlement or net-share settlement or (ii) give the Company a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement). The Company classifies as assets or liabilities any contracts that (i) require net-cash settlement (including a requirement to net-cash settle the contract if an event occurs and if that event is outside the control of the Company) or (ii) give the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement). Instruments that are classified as liabilities are recorded at fair value at each reporting period, with any change in fair value recognized as a component of change in fair value of derivative liabilities in the consolidated statements of operations. The Company assessed the classification of its outstanding common stock purchase warrants as of the date of issuance and determined that such instruments met the criteria for equity classification under the guidance in ASU 2017-11 “Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Feature”. The Company has no outstanding warrants that contain a “down round” feature under Topic 815 of ASU 2017-11.
Warrant Liability	Warrant Liability The Company accounts for the 625,000 warrants issued in connection with the Definitive Agreement which occurred in March 2022 in accordance with the guidance contained in ASC 815 “Derivatives and Hedging” whereby under that provision these warrants do not meet the criteria for equity treatment and must be recorded as a liability (see Note 9). Accordingly, the Company classifies these warrant instruments as a liability at fair value and adjusts the instruments to fair value at each reporting period. This liability will be re-measured at each balance sheet date until the warrants are exercised or expire, and any change in fair value will be recognized in the Company’s statement of operations. The fair value of these warrants are estimated using Monte Carlo simulation model. Such warrant classification is also subject to re-evaluation at each reporting period.
Offering Costs	Offering Costs Offering costs consisted of legal, placement agent fees and other costs incurred through the balance sheet date that are directly related to registered direct offerings. Offering costs are allocated to the separable financial instruments issued in the registered direct offering based on a relative fair value basis, compared to total proceeds received. Offering costs associated with warrant liability are expensed as incurred, presented as offering cost related to warrant liability in the consolidated statements of operations. Offering costs associated with the sale of common shares were charged against equity.
Convertible Preferred Stock	Convertible Preferred Stock The Company accounts for its convertible preferred stock under the provisions of ASC 480, “Distinguishing Liabilities from Equity” (“ASC 480”), which sets forth the standards for how an issuer classifies and measures certain financial instruments with characteristics of both liabilities and equity. ASC 480 requires an issuer to classify a financial instrument that is within the scope of ASC 480 as a liability if such financial instrument embodies an unconditional obligation to redeem the instrument at a specified date and/or upon an event certain to occur. During the years ended April 30, 2022 and 2021, the Company’s convertible preferred shares were accounted for as equity, with no liability recorded. There was no outstanding preferred stock as of April 30, 2022 and April 30, 2021.
Convertible Instruments	Convertible Instruments The Company bifurcates conversion options from their host instruments and accounts for them as free-standing derivative financial instruments according to certain criteria. The criteria includes circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. An exception to this rule when the host instrument is deemed to be conventional as that term is described under applicable U.S. GAAP. When the Company has determined that the embedded conversion options should not be bifurcated from their host instruments, the Company records, when necessary, a beneficial conversion feature (“BCF”) related to the issuance of convertible debt and equity instruments that have conversion features at fixed rates that are in-the-money when issued, and the fair value of warrants issued in connection with those instruments. The BCF for the convertible instruments is recognized and measured by allocating a portion of the proceeds to warrants, based on their relative fair value, and as a reduction to the carrying amount of the convertible instrument equal to the intrinsic value of the conversion feature. The discounts recorded in connection with the BCF and warrant valuation are recognized (a) for convertible debt as interest expense over the term of the debt, using the effective interest method or (b) for convertible preferred stock as dividends at the time the stock first becomes convertible.
Remediation and Asset Retirement Obligation	Remediation and Asset Retirement Obligation Asset retirement obligations (“ARO”), consisting primarily of estimated reclamation costs at the Company’s CK Gold, Keystone and Maggie Creek properties, are recognized in the period incurred and when a reasonable estimate can be made, and recorded as liabilities at fair value. Such obligations, which are initially estimated based on discounted cash flow estimates, are accreted to full value over time through charges to accretion expense. Corresponding asset retirement costs are capitalized as part of the carrying amount of the related long-lived asset and depreciated over the asset’s remaining useful life. AROs are periodically adjusted to reflect changes in the estimated present value resulting from revisions to the estimated timing or amount of reclamation and closure costs. The Company reviews and evaluates its AROs annually or more frequently at interim periods if deemed necessary. U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022
Foreign Currency Transactions	Foreign Currency Transactions The reporting and functional currency of the Company is the U.S. dollar. Transactions denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing on the transaction dates. Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency included in the results of operations as incurred. Translation adjustments, and transaction gains or losses, have not had, and are not expected to have, a material effect on the results of operations of the Company and are included in general and administrative expenses.
Leases	Leases On January 1, 2019, the Company adopted ASC Topic 842, Leases (Topic 842), the Company has elected the ‘package of practical expedients’, which permits it not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. In addition, the Company elected not to apply ASC Topic 842 to arrangements with lease terms of 12 month or less. Operating lease right of use (“ROU”) assets represents the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Company use an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is included in general and administrative expenses in the statements of operations.
Income Taxes	Income Taxes The Company accounts for income taxes pursuant to the provision of ASC 740, “Accounting for Income Taxes” (“ASC 740”), which requires, among other things, an asset and liability approach to calculating deferred income taxes. The asset and liability approach requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. A valuation allowance is provided to offset any net deferred tax assets for which management believes it is more likely than not that the net deferred asset will not be realized. The Company follows the provision of ASC 740-10, “Accounting for Uncertain Income Tax Positions” (“ASC 740-10”). When tax returns are filed, there may be uncertainty about the merits of positions taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more likely than not recognition threshold are measured at the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefit associated with tax positions taken that exceed the amount measured as described above should be reflected as a liability for uncertain tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. The Company believes its tax positions are all more likely than not to be upheld upon examination. As such, the Company has not recorded a liability for uncertain tax benefits or for any related interest and penalties. In the event that the Company is assessed penalties and/or interest, penalties will be charged to other operating expense and interest will be charged to interest expense. The Company has adopted ASC 740-10-25, “Definition of Settlement”, which provides guidance on how an entity should determine whether a tax position is effectively settled for the purpose of recognizing previously unrecognized tax benefits and provides that a tax position can be effectively settled upon the completion and examination by a taxing authority without being legally extinguished. For tax positions considered effectively settled, an entity would recognize the full amount of tax benefit, even if the tax position is not considered more likely than not to be sustained based solely on the basis of its technical merits and the statute of limitations remains open. The federal and state income tax returns of the Company are subject to examination by the Internal Revenue Service and state taxing authorities, generally for three years after they are filed. In December 2019, the FASB issued ASU 2019-12 – U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material effect on the financial statements upon adoption. The Company does not discuss recent pronouncements that are not anticipated to have an effect on or are unrelated to its financial condition, results of operations, cash flows or disclosures. In August 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging Contracts in Entity’s Own Equity (Subtopic 815-40), which eliminates the beneficial conversion and cash conversion accounting models for convertible instruments, amends the accounting for certain contracts in an entity’s own equity that are currently accounted for as derivatives because of specific settlement provisions, and modifies how particular convertible instruments and certain contracts that may be settled in cash or shares impact the diluted EPS calculation. The standard is effective for annual periods beginning after December 15, 2023 for smaller reporting companies, and interim periods within those reporting periods. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those reporting periods. The Company adopted ASU 2020-06 as of the reporting period beginning February 1, 2022. The adoption of this ASU did not have a material impact on the Company’s financial statements. In October 2020, the FASB issued ASU 2020-09, Debt (Topic 470) - Amendments to SEC Paragraphs Pursuant to SEC Release No. 33-10762, or ASU 2020-09, to reflect the SEC’s amended disclosure rules for guaranteed debt securities offerings. The final rule amends the disclosure requirements in SEC Regulation S-X, Rule 3-10, which require entities to separately present financial statements for subsidiary issuers and guarantors of registered debt securities unless certain exceptions are met. The amended rule allows entities to provide summarized financial information of the parent company and its issuers and guarantors on a combined basis either in a note to the financial statements or as part of management’s discussion and analysis. ASU 2020-09 is effective for filings on or after January 4, 2021, with early adoption permitted. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt–Modifications and Extinguishments (Subtopic 470-50), Compensation–Stock Compensation (Topic 718), and Derivatives and Hedging–Contracts in Entity’s Own Equity (Subtopic 815-40). This ASU reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. This ASU provides guidance for a modification or an exchange of a freestanding equity-classified written call option that is not within the scope of another Topic. It specifically addresses: (1) how an entity should treat a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; (2) how an entity should measure the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange; and (3) how an entity should recognize the effect of a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange. This ASU will be effective for all entities for fiscal years beginning after December 15, 2021. An entity should apply the amendments prospectively to modifications or exchanges occurring on or after the effective date of the amendments. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the effect the adoption of this ASU will have on the consolidated financial statements. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The standard requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606, Revenue from Contracts with Customers, as if the acquirer had originated the contracts, provided such contracts had been appropriately accounted for under ASC 606 by the acquiree, rather than recognizing them at their estimated fair value on the acquisition date as required under the existing guidance. The standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022 on a prospective basis, with early adoption permitted. The Company does not expect the adoption of this standard to have a significant impact on its consolidated financial statements.

MINERAL RIGHTS (Tables)

MINERAL RIGHTS (Tables)	12 Months Ended
	Apr. 30, 2022
Restructuring Cost and Reserve [Line Items]
SCHEDULE OF MINERAL PROPERTIES	As of the dates presented, mineral properties consisted of the following: SCHEDULE OF MINERAL PROPERTIES April 30, 2022 April 30, 2021 CK Gold Project $ 3,091,738 $ 3,091,738 Keystone Project 1,028,885 1,028,885 Maggie Creek Project 1,986,607 1,986,607 Challis Gold Project 10,249,632 10,249,632 Total $ 16,356,862 $ 16,356,862
Maggie Creek Project [Member]
Restructuring Cost and Reserve [Line Items]
SCHEDULE OF FAIR VALUE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED	SCHEDULE OF FAIR VALUE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED Cash $ 159,063 Mineral property – Maggie Creek 1,986,607 Total assets acquired at fair value 2,145,670 Total Liabilities assumed at fair value (125,670 ) Total purchase consideration $ 2,020,000
Northern Panther [Member]
Restructuring Cost and Reserve [Line Items]
SCHEDULE OF FAIR VALUE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED	SCHEDULE OF FAIR VALUE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED Cash – US Dollars $ 2,500,000 Intangible assets – (mineral rights) Challis Gold Project 10,249,632 Total assets acquired at fair value 12,749,632 Total Liabilities assumed at fair value – US Dollars (108,652 ) Total purchase consideration $ 12,640,980

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Apr. 30, 2022
Property, Plant and Equipment [Abstract]
SCHEDULE OF PROPERTY AND EQUIPMENT	As of the dates presented, property consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT April 30, 2022 April 30, 2021 Site costs $ 203,320 $ 169,803 Land 175,205 - Computer equipment 7,265 3,498 Vehicle 39,493 39,493 Total 425,283 212,794 Less: accumulated depreciation (75,366 ) (40,572 ) Total $ 349,917 $ 172,222

ASSET RETIREMENT OBLIGATION (Ta

ASSET RETIREMENT OBLIGATION (Tables)	12 Months Ended
	Apr. 30, 2022
Asset Retirement Obligation Disclosure [Abstract]
SCHEDULE OF ASSET RETIREMENT OBLIGATION	SCHEDULE OF ASSET RETIREMENT OBLIGATION April 30, 2022 April 30, 2021 Balance, beginning of year $ 204,615 $ 168,392 Addition and changes in estimates 33,517 18,746 Accretion expense 22,064 17,477 Balance, end of year $ 260,196 $ 204,615

OPERATING LEASE RIGHT-OF-USE _2

OPERATING LEASE RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES (Tables)	12 Months Ended
	Apr. 30, 2022
Operating Lease Right-of-use Assets And Operating Lease Liabilities
SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES	Right-of- use assets are summarized below: SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES April 30, 2022 April 30, Operating leases $ 64,064 $ - Operating Lease liabilities are summarized below: April 30, 2022 April 30, 2021 Operating lease, current portion $ 55,630 $ - Operating lease, long term portion 8,734 - Total lease liability $ 64,364 $ -
SCHEDULE OF SUPPLEMENTAL CASH FLOW AND NON-CASH INFORMATION RELATED TO LEASES	The following table includes supplemental cash and non-cash information related to the Company’s lease: SCHEDULE OF SUPPLEMENTAL CASH FLOW AND NON-CASH INFORMATION RELATED TO LEASES 1 2 Years ended April 30, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating lease $ 44,500 $ - Lease assets obtained in exchange for new operating lease liabilities $ 104,095 $ -
SCHEDULE OF FUTURE MINIMUM PAYMENTS REQUIRED UNDER NON-CANCELABLE OPERATING LEASES	Minimum lease payments under non-cancelable operating leases at April 30, 2022 are as follows: SCHEDULE OF FUTURE MINIMUM PAYMENTS REQUIRED UNDER NON-CANCELABLE OPERATING LEASES 1 Year ended April 30, 2023 56,000 Year ended April 30, 2024 11,800 Total $ 67,800 Less: imputed interest (3,436 ) Total present value of lease liability $ 64,364

WARRANT LIABILITY (Tables)

WARRANT LIABILITY (Tables)	12 Months Ended
	Apr. 30, 2022
Warrant Liability
SCHEDULE OF KEY INPUTS FOR THE WARRANT LIABILITY	The key inputs for the warrant liability were as follows as of March 18, 2022: SCHEDULE OF KEY INPUTS FOR THE WARRANT LIABILITY Key Valuation Inputs Expected term (years) 5.50 Annualized volatility 84.4 % Volatility if fundamental transaction occurs 100.00 % Risk-free interest rate 2.15 % Stock price $ 8.00 Dividend yield 0.00 % Exercise price $ 8.60 Probability of fundamental transaction 85 % Date of fundamental transaction (1) 2 5.5 1) The fundamental transaction is simulated to occur 85% during one trading day through the 3.5 year period, 85% of the time. U.S. GOLD CORP. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS APRIL 30, 2022 Subsequent Measurement The key inputs for the warrant liability were as follows as of April 30, 2022: Key Valuation Inputs Expected term (years) 5.39 Annualized volatility 84.2 % Volatility if fundamental transaction occurs 100.00 % Risk-free interest rate 2.92 % Stock price $ 5.65 Dividend yield 0.00 % Exercise price $ 8.60 Probability of fundamental transaction 85 % Date of fundamental transaction 1.90 5.4
SCHEDULE OF CHANGES IN FAIR VALUE OF LEVEL THREE WARRANT LIABILITY	The following table sets forth a summary of the changes in the fair value of the Level 3 warrant liability for the year ended April 30, 2022: SCHEDULE OF CHANGES IN FAIR VALUE OF LEVEL THREE WARRANT LIABILITY Warrant Liability Fair value as of April 30, 2021 $ — Initial fair value of warrant liability upon issuance 3,652,000 Change in fair value (1,212,000 ) Fair value as of April 30, 2022 $ 2,440,000

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	12 Months Ended
	Apr. 30, 2022
Equity [Abstract]
SCHEDULE OF WARRANT LIABILITY	SCHEDULE OF WARRANT LIABILITY Net proceeds on March 18, 2022 $ 4,559,601 Less: Proceeds allocated to warrant liability (3,652,000 ) Plus: Offering cost associated with warrant liability 190,840 Net proceeds on March 18, 2022 allocated to equity $ 1,098,441
SCHEDULE OF STOCK OPTION ACTIVITY	The following is a summary of the Company’s stock option activity during the years ended April 30, 2022 and 2021: SCHEDULE OF STOCK OPTION ACTIVITY Number of Weighted Weighted Balance at April 30, 2020 100,000 $ 14.31 2.87 Granted — — — Exercised — — — Forfeited — — — Cancelled (5,000 ) — — Balance at April 30, 2021 95,000 $ 14.63 1.57 Granted 58,060 6.93 5.00 Exercised — — — Forfeited — — — Cancelled (5,000 ) 13.40 — Balance at April 30, 2022 148,060 11.65 2.23 Options exercisable at end of period 128,410 $ 12.38 Options expected to vest 19,650 $ 6.93 Weighted average fair value of options granted during the period $ 4.52
SCHEDULE OF STOCK OPTION	SCHEDULE OF STOCK OPTION For the Year Ended Risk free interest rate 1.53 % Dividend yield 0.00 % Expected volatility 82 % Contractual term (in years) 5.0 Forfeiture rate 0.00 %
SCHEDULE OF STOCK WARRANT ACTIVITY	The following is a summary of the Company’s stock warrant activity during the years ended April 30, 2022 and 2021: SCHEDULE OF STOCK WARRANT ACTIVITY Number of Warrants Weighted Average Weighted Average Remaining Contractual Warrants with no Class designation: Balance at April 30, 2020 527,378 $ 14.83 3.73 Granted 1,425,224 9.09 5.18 Exercised (523,808 ) 6.68 4.03 Forfeited — — — Canceled — — — Balance at April 30, 2021 1,428,794 $ 12.00 4.08 Granted 817,370 8.46 5.39 Exercised (166,667 ) 6.00 3.33 Forfeited (170,235 ) 31.25 — Canceled — — — Balance at April 30, 2022 1,909,262 9.29 4.38 Class A Warrants: Balance at April 30, 2020 219,375 11.40 4.22 Granted — — — Exercised (109,688 ) 11.40 3.22 Forfeited — — — Canceled — — — Balance at April 30, 2021 109,687 11.40 3.22 Granted — — — Exercised — — — Forfeited — — — Canceled — — — Balance at April 30, 2022 109,687 11.40 2.22 Total Warrants Outstanding at April 30, 2022 2,018,949 $ 9.41 4.27 Warrants exercisable at end of period 1,393,949 $ 9.77 Weighted average fair value of warrants granted during the period $ —
SCHEDULE OF WARRANTS ISSUED	SCHEDULE OF WARRANTS ISSUED Warrants Issued During the Year ended Expected volatility 169.0 % Stock price on date of grant $ 9.53 Exercise price $ 6.00 Expected dividends - Expected term (in years) 5.00 Risk-free rate 0.27 % Expected forfeiture rate 0 %

NET LOSS PER COMMON SHARE (Tabl

NET LOSS PER COMMON SHARE (Tables)	12 Months Ended
	Apr. 30, 2022
Earnings Per Share [Abstract]
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE	SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE April 30, 2022 April 30, 2021 Common stock equivalents: Restricted stock units 441,402 346,802 Stock options 148,060 95,000 Stock warrants 2,018,949 1,538,481 Total 2,608,411 1,980,283

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Apr. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
SCHEDULE OF ROYALTY PAYABLE	SCHEDULE OF ROYALTY PAYABLE FOB Mine Value per Ton Percentage Royalty $ 00.00 50.00 5 % $ 50.01 100.00 7 % $ 100.01 150.00 9 % $ 150.01 10 %
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS	The future minimum lease payments at April 30, 2022 under these mining leases are as follows, each payment to be made in the fourth quarter of the respective fiscal years: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS 1 Fiscal 2023 $ 2,240 Fiscal 2024 960 Total $ 3,200
SCHEDULE OF RIGHT AND OPTION TO EARN-IN AND ACQUIRE UNDIVIDED INTEREST	The remaining required Initial Earn-in payments at April 30, 2022, as amended: SCHEDULE OF RIGHT AND OPTION TO EARN-IN AND ACQUIRE UNDIVIDED INTEREST Fiscal 2023 $ 700,000 Fiscal 2024 1,000,000 Fiscal 2025 1,000,000 Fiscal 2026 1,000,000 $ 3,700,000
SCHEDULE OF ADVANCE MINIMUM ROYALTY PAYMENTS	The annual advance minimum royalty payments at April 30, 2022 under the option agreement are as follows, each payment to be made in the beginning on the first anniversary of the effective date of this option agreement and continuing until the tenth anniversary: SCHEDULE OF ADVANCE MINIMUM ROYALTY PAYMENTS 1 Fiscal 2023 $ 25,000 Fiscal 2024 25,000 Fiscal 2025 25,000 Fiscal 2026 25,000 Fiscal 2027 and thereafter 125,000 Total $ 225,000

INCOME TAX (Tables)

INCOME TAX (Tables)	12 Months Ended
	Apr. 30, 2022
Income Tax Disclosure [Abstract]
SCHEDULE OF NET DEFERRED TAX ASSET AND LIABILITIES	The deferred tax assets and deferred tax liabilities are summarized as follows: SCHEDULE OF NET DEFERRED TAX ASSET AND LIABILITIES 1 2 Deferred tax assets: April 30, 2022 April 30, 2021 Net operating loss carryover $ 9,970,000 $ 6,793,000 Stock-based compensation 2,234,000 2,776,000 Capitalized exploration costs — 431,000 Accrued remediation costs 11,000 7,000 Alternative minimum tax credit carryover — — Subtotal 12,215,000 10,007,000 Less: valuation allowance (10,063,000 ) (7,855,000 ) Total deferred tax asset $ 2,152,000 $ 2,152,000 Deferred tax liabilities: April 30, 2022 April 30, 2021 Acquired mineral rights in excess of tax basis in a tax-free merger $ (2,152,000 ) $ (2,152,000 ) Total deferred tax liabilities (2,152,000 ) (2,152,000 ) Net deferred tax asset (liabilities) $ — $ —
SCHEDULE OF EFFECTIVE TAX RATE	The differences between the provision (benefit) for federal income taxes and federal income taxes computed using the U.S. statutory tax rate of 21 SCHEDULE OF EFFECTIVE TAX RATE Year Ended April 30, 2022 2021 Federal income tax provision (benefit) based on statutory rate $ (2,925,000 ) 21.0 % $ (2,601,000 ) 21.0 % State income tax provision (benefit), net of federal taxes — — % — — % Change in effective state tax rate — — % — — % Change in prior year estimate 717,000 (5.1 )% 43,000 (0.3 )% Increase (decrease) in valuation allowance 2,208,000 (15.9 )% 2,558,000 (20.7 )% Total tax provision (benefit) on income (loss) $ — — % $ — — %

ORGANIZATION AND DESCRIPTION _2

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative) - shares	Mar. 17, 2020	Sep. 10, 2019	May 23, 2017
Board of directors [Member]
Reverse stock split description	1-for-10 reverse stock split of the Company’s issued and outstanding shares of common stock (the “Reverse Stock Split”)
Share exchange agreement [Member]
Number of shares issued for common stock		200,000
Gold King Merger [Member]
Equity ownership interest rate percent			90%

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Accounting Policies [Abstract]
Prepaid expenses and other current assets	$ 787,902	$ 430,360
Estimated useful life of the assets	5 years

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	2 Months Ended	12 Months Ended
	Mar. 31, 2022	Apr. 30, 2022	Apr. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash		$ 9,111,512	$ 13,645,405
Working capital		8,800,000
Accumulated deficit		57,905,928	43,975,046
Net loss		13,930,882	12,387,094
Cash used in operating activities		$ 12,575,412	$ 8,590,636
Proceeds from issuance or sale of equity	$ 7,500,000

SCHEDULE OF FAIR VALUE OF ASSET

SCHEDULE OF FAIR VALUE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED (Details) - USD ($)	Aug. 10, 2020	Sep. 10, 2019
Maggie Creek Project [Member]
Restructuring Cost and Reserve [Line Items]
Cash – US Dollars		$ 159,063
Intangible assets – (mineral rights) Challis Gold Project		1,986,607
Total assets acquired at fair value		2,145,670
Total Liabilities assumed at fair value – US Dollars		(125,670)
Total purchase consideration		$ 2,020,000
Northern Panther [Member]
Restructuring Cost and Reserve [Line Items]
Cash – US Dollars	$ 2,500,000
Intangible assets – (mineral rights) Challis Gold Project	10,249,632
Total assets acquired at fair value	12,749,632
Total Liabilities assumed at fair value – US Dollars	(108,652)
Total purchase consideration	$ 12,640,980

SCHEDULE OF MINERAL PROPERTIES

SCHEDULE OF MINERAL PROPERTIES (Details) - USD ($)	Apr. 30, 2022	Apr. 30, 2021
Restructuring Cost and Reserve [Line Items]
Total	$ 16,356,862	$ 16,356,862
CK Gold Project [Member]
Restructuring Cost and Reserve [Line Items]
Total	3,091,738	3,091,738
Keystone Project [Member]
Restructuring Cost and Reserve [Line Items]
Total	1,028,885	1,028,885
Maggie Creek Project [Member]
Restructuring Cost and Reserve [Line Items]
Total	1,986,607	1,986,607
Challis gold project [Member]
Restructuring Cost and Reserve [Line Items]
Total	$ 10,249,632	$ 10,249,632

MINERAL RIGHTS (Details Narrati

MINERAL RIGHTS (Details Narrative)						1 Months Ended		12 Months Ended
	Nov. 13, 2020 shares	Aug. 11, 2020 USD ($) $ / shares shares	Sep. 10, 2019 USD ($) $ / shares shares	May 27, 2016 USD ($)	Jul. 02, 2014 USD ($)	Feb. 28, 2021 shares	Aug. 31, 2017 USD ($)	Apr. 30, 2022 USD ($) a $ / shares	Apr. 30, 2021 USD ($) $ / shares shares
Reserve Quantities [Line Items]
Number of shares issued of common stock, value									$ 8,999,077
Royalty revenue
Common stock, par value | $ / shares								$ 0.001	$ 0.001
Series H Preferred Stock [Member]
Reserve Quantities [Line Items]
Number of shares issued for common stock | shares		82,500
Common Stock [Member]
Reserve Quantities [Line Items]
Number of shares issued of common stock, value									$ 914
Number of shares issued for common stock | shares						914,136			914,136
Purchase and Sale Agreement [Member] | Gold Bar North Project [Member]
Reserve Quantities [Line Items]
Payments to acquire mineral properties							$ 20,479
Common shares fair value							$ 35,850
Abandonment expense								$ 56,329
Share exchange agreement [Member]
Reserve Quantities [Line Items]
Number of shares issued for common stock | shares			200,000
CK Gold Project [Member]
Reserve Quantities [Line Items]
Area of land | a								1.8
CK Gold Project [Member] | Asset Purchase Agreement [Member]
Reserve Quantities [Line Items]
Payments to acquire mineral properties					$ 1,500,000
Percentage of issued and outstanding shares					50%
Number of shares issued of common stock, value					$ 1,500,000
Total cost of acquired properties					3,091,738
Purchase price of asset					$ 3,000,000
Keystone Project [Member] | Purchase and Sale Agreement [Member]
Reserve Quantities [Line Items]
Payments to acquire mineral properties				$ 250,000
Total cost of acquired properties				1,028,885
Purchase price of asset				989,968
Common shares fair value				555,000
Grant of stock options for the acquisition of mineral rights				184,968
Ttransaction costs				$ 38,917
Royalty rights description								under the terms of the purchase and sale agreement, Nevada Gold retained additional NSR rights of 0.5% with regard to certain claims and 3.5% with regard to certain other claims. Under the terms of the Purchase and Sale Agreement, the Company may buy down one percent (1%) of the royalty from Nevada Gold at any time through the fifth anniversary of the closing date for $2,000,000 which the Company did not exercise. The Company may buy down an additional one percent (1%) of the royalty anytime through the eighth anniversary of the closing date for $5,000,000
Keystone Project [Member] | Purchase and Sale Agreement [Member] | Eight Anniversary of Closing Date [Member]
Reserve Quantities [Line Items]
Royalty percentage								1%
Royalty revenue								$ 5,000,000
Keystone Project [Member] | Purchase and Sale Agreement [Member] | Royalty [Member] | Fifth Anniversary [Member]
Reserve Quantities [Line Items]
Royalty percentage								1%
Royalty revenue								$ 2,000,000
Maggie Creek Project [Member] | Number Co [Member]
Reserve Quantities [Line Items]
Number of shares issued of common stock, value			$ 2,020,000
Number of shares issued for common stock | shares			200,000
Share price per share | $ / shares			$ 10.10
Maggie Creek Project [Member] | Share exchange agreement [Member] | Number Co [Member]
Reserve Quantities [Line Items]
Payment to acquire business gross			$ 159,063
Assumed liabilities for accounts payable			$ 125,670
Business acquisition percentage			50%
Exploration and development expenditure			$ 4,500,000
Maggie Creek Project [Member] | Share exchange agreement [Member] | Renaissance [Member] | Number Co [Member]
Reserve Quantities [Line Items]
Payments to grantor			$ 250,000
Payments to grantor term			60 days
Percentage to increase additional interest			20%
Percentage for overall interest			70%
Expenditure								$ 815,000
Northern Panther [Member] | Merger Agreement [Member]
Reserve Quantities [Line Items]
Number of shares issued of common stock, value		$ 12,640,980
Number of shares issued for common stock | shares		1,650,000
Share price per share | $ / shares		$ 7.6612
Northern Panther [Member] | Merger Agreement [Member] | Series H Preferred Stock [Member]
Reserve Quantities [Line Items]
Number of shares issued for common stock | shares	1,068,940	106,894
Common stock, par value | $ / shares		$ 0.001
Reverse stock split		1 for 10 basis
Conversion of shares | shares	106,894
Northern Panther [Member] | Merger Agreement [Member] | Common Stock [Member]
Reserve Quantities [Line Items]
Number of shares issued for common stock | shares		581,053

SCHEDULE OF PROPERTY AND EQUIPM

SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($)	Apr. 30, 2022	Apr. 30, 2021
Property, Plant and Equipment [Line Items]
Total	$ 425,283	$ 212,794
Less: accumulated depreciation	(75,366)	(40,572)
Total	349,917	172,222
Retail Site [Member]
Property, Plant and Equipment [Line Items]
Total	203,320	169,803
Land [Member]
Property, Plant and Equipment [Line Items]
Total	175,205
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Total	7,265	3,498
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total	$ 39,493	$ 39,493

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation expenses	$ 34,794	$ 22,886

SCHEDULE OF ASSET RETIREMENT OB

SCHEDULE OF ASSET RETIREMENT OBLIGATION (Details) - USD ($)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Asset Retirement Obligation Disclosure [Abstract]
Balance, beginning of period	$ 204,615	$ 168,392
Addition and changes in estimates	33,517	18,746
Accretion expense	22,064	17,477
Balance, end of period	$ 260,196	$ 204,615

ASSET RETIREMENT OBLIGATION (De

ASSET RETIREMENT OBLIGATION (Details Narrative) - USD ($)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Asset Retirement Obligation Disclosure [Abstract]
Accretion expense	$ 22,064	$ 17,477

SCHEDULE OF SUPPLEMENTAL BALANC

SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES (Details) - USD ($)	Apr. 30, 2022	Apr. 30, 2021
Operating Lease Right-of-use Assets And Operating Lease Liabilities
Operating leases	$ 64,064
Operating lease, current portion	55,630
Operating lease, long term portion	8,734
Total lease liability	$ 64,364

SCHEDULE OF SUPPLEMENTAL CASH F

SCHEDULE OF SUPPLEMENTAL CASH FLOW AND NON-CASH INFORMATION RELATED TO LEASES (Details) - USD ($)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Operating Lease Right-of-use Assets And Operating Lease Liabilities
Operating cash flows from operating lease	$ 44,500
Lease assets obtained in exchange for new operating lease liabilities	$ 104,095

SCHEDULE OF FUTURE MINIMUM PAYM

SCHEDULE OF FUTURE MINIMUM PAYMENTS REQUIRED UNDER NON-CANCELABLE OPERATING LEASES (Details) - USD ($)	Apr. 30, 2022	Apr. 30, 2021
Operating Lease Right-of-use Assets And Operating Lease Liabilities
Year ended April 30, 2023	$ 56,000
Year ended April 30, 2024	11,800
Total	67,800
Less: imputed interest	(3,436)
Total present value of lease liability	$ 64,364

OPERATING LEASE RIGHT-OF-USE _3

OPERATING LEASE RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES (Details Narrative) - USD ($)				12 Months Ended
	Mar. 01, 2022	Sep. 01, 2021	May 02, 2021	Apr. 30, 2022
Operating Lease Right-of-use Assets And Operating Lease Liabilities
Lease term, description		The term of the lease is for a two-year period from September 2021 to August 2023.	The term of the lease is for a two-year period from May 2021 to May 2023
Payment for rent	$ 2,950	$ 3,100	$ 1,667
Lessee, Operating Lease, Renewal Term		2 years	3 years
Lease expenses				$ 44,200
Weighted average remaining lease term				1 year 2 months 1 day
Weighted average incremental borrowing rate				8%

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)							1 Months Ended		12 Months Ended
	Mar. 31, 2022	Jan. 24, 2022	Jun. 01, 2021	Mar. 31, 2021	Mar. 19, 2021	Jan. 07, 2021	Jan. 31, 2022	Jan. 31, 2021	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares issued for services, value									$ 100,000	$ 1,539,364
Consulting fees									$ 4,228,139	$ 4,085,516
Option term									2 years 2 months 23 days	1 year 6 months 25 days	2 years 10 months 13 days
Restricted Stock Units (RSUs) [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares issued for services, value			$ 25,000
Common stock shares issued			2,097
Director [Member] | Restricted Stock Units (RSUs) [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares issued for services, value		$ 96,000
Common stock shares issued		13,852
MrRector [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Consulting fees										$ 30,000
Mr. Karr [Member] | Restricted Stock Units (RSUs) [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock shares issued		13,564
Common stock shares, granted		5,310
Option term		5 years
January 2021 Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Consulting fees									$ 36,000	15,750
January 2021 Agreement [Member] | Director [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Annual professional fees						$ 86,000
Shares issued for services, value						50,000
Cash payments to related parties						36,000
Cash payments to related parties						$ 3,000
Common stock shares issued							5,814	3,222
March 2021 Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock shares issued				5,168
March 2021 Agreement [Member] | Mr. Karr [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares issued for services, value					$ 60,000
Cash payments to related parties					120,000
Cash payments to related parties					10,000
Consulting fees					$ 180,000				$ 120,000
March 2022 Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock shares issued	7,353
March 2022 Agreement [Member] | Mr. Karr [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Consulting fees										$ 16,371

SCHEDULE OF KEY INPUTS FOR THE

SCHEDULE OF KEY INPUTS FOR THE WARRANT LIABILITY (Details)		12 Months Ended
	Mar. 18, 2022 $ / shares	Apr. 30, 2022 $ / shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Stock price	$ 8	$ 5.65
Exercise price	$ 8.60	$ 8.60
Measurement Input, Expected Term [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term (years)	5 years 6 months	5 years 4 months 20 days
Measurement Input, Price Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt instrument, measurement input	0.844	0.842
Measurement Input Volatility If Fundamental Transaction Occurs [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt instrument, measurement input	1	1
Measurement Input, Risk Free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt instrument, measurement input	0.0215	0.0292
Measurement Input, Expected Dividend Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt instrument, measurement input	0	0
Measurement Input Probability of Fundamental Transaction [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt instrument, measurement input	0.85	0.85
Measurement Input Date of Fundamental Transaction [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term (years)	2 years	1 year 10 months 24 days
Measurement Input Date of Fundamental Transaction [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term (years)	5 years 6 months	5 years 4 months 24 days

SCHEDULE OF KEY INPUTS FOR TH_2

SCHEDULE OF KEY INPUTS FOR THE WARRANT LIABILITY (Details) (Parenthetical)	Mar. 18, 2022
Warrant Liability
Fundamental transaction, description	fundamental transaction is simulated to occur 85% during one trading day through the 3.5 year period, 85% of the time.

SCHEDULE OF CHANGES IN FAIR VAL

SCHEDULE OF CHANGES IN FAIR VALUE OF LEVEL THREE WARRANT LIABILITY (Details) - USD ($)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Warrant Liability
Fair value as of April 30, 2021
Initial fair value of warrant liability upon issuance	3,652,000
Change in fair value	(1,212,000)
Fair value as of April 30, 2022	$ 2,440,000

WARRANT LIABILITY (Details Narr

WARRANT LIABILITY (Details Narrative) - USD ($)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Mar. 18, 2022
Warrant Liability
Fair value of warrant liability	$ 2,440,000
Warrants issued			625,000
Initial valuation of warrant liability	$ 3,652,000

SCHEDULE OF WARRANT LIABILITY (

SCHEDULE OF WARRANT LIABILITY (Details)	Mar. 18, 2022 USD ($)
Equity [Abstract]
Net proceeds on March 18, 2022	$ 4,559,601
Proceeds allocated to warrant liability	(3,652,000)
Offering cost associated with warrant liability	190,840
Net proceeds on March 18, 2022 allocated to equity	$ 1,098,441

SCHEDULE OF STOCK OPTION ACTIVI

SCHEDULE OF STOCK OPTION ACTIVITY (Details) - $ / shares		1 Months Ended	12 Months Ended
	Dec. 21, 2017	Sep. 30, 2020	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Equity [Abstract]
Number of options outstanding, beginning of period			95,000	100,000
Weighted average exercise price outstanding, beginning of period			$ 14.63	$ 14.31
Weighted average remaining contractual life (Years), ending of period			2 years 2 months 23 days	1 year 6 months 25 days	2 years 10 months 13 days
Number of options, granted	75,000	75,000	58,060
Weighted average exercise price, granted			$ 6.93
Number of options, exercised
Weighted average exercise price, exercised
Number of options, forfeited
Weighted average exercise price, forfeited
Number of options, cancelled			(5,000)	(5,000)
Weighted average exercise price, cancelled			$ 13.40
Weighted average remaining contractual life (Years), grant			5 years
Number of options outstanding,ending of period			148,060	95,000	100,000
Weighted average exercise price outstanding, ending of period			$ 11.65	$ 14.63	$ 14.31
Number of options exercisable at end of period			128,410
Weighted average exercise price options exercisable at end of period			$ 12.38
Number of options expected to vest			19,650
Weighted average exercise price options expected to vest			$ 6.93
Weighted average exercise Price weighted average fair value of options granted during the period			$ 4.52

SCHEDULE OF STOCK OPTION (Detai

SCHEDULE OF STOCK OPTION (Details)	9 Months Ended	12 Months Ended
	Jan. 31, 2021	Apr. 30, 2022	Apr. 30, 2021
Equity [Abstract]
Risk free interest rate		1.53%	0.27%
Dividend yield		0%
Expected volatility		82%	169%
Contractual term (in years)		5 years	5 years
Forfeiture rate	0%	0%

SCHEDULE OF STOCK WARRANT ACTIV

SCHEDULE OF STOCK WARRANT ACTIVITY (Details) - $ / shares	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of Warrants, Outstanding, Ending balance	2,018,949
Weighted Average Exercise Price, Outstanding, Ending balance	$ 9.41
Weighted average remaining contractual life in years, end of period	4 years 3 months 7 days
Number of Warrants, Exercisable, Ending balance	1,393,949
Weighted Average Exercise Price, Exercisable, Ending balance	$ 9.77
Weighted average fair value of warrants granted during the period
Warrants with No Class Designation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of Warrants, Outstanding, Beginning balance	1,428,794	527,378
Weighted Average Exercise Price,Outstanding, Beginning balance	$ 12	$ 14.83
Weighted average remaining contractual life in years, end of period	4 years 4 months 17 days	4 years 29 days	3 years 8 months 23 days
Number of Warrants, Granted	817,370	1,425,224
Weighted Average Exercise Price, Granted	$ 8.46	$ 9.09
Weighted Average Remaining Contractual Granted	5 years 4 months 20 days	5 years 2 months 4 days
Number of Warrants, Exercised	(166,667)	(523,808)
Weighted Average Exercise Price, Exercised	$ 6	$ 6.68
Weighted average remaining contractual life in years,, Exercised	3 years 3 months 29 days	4 years 10 days
Number of Warrants, Forfeited	(170,235)
Weighted Average Exercise Price, Forfeited	$ 31.25
Number of Warrants, Canceled
Weighted Average Exercise Price, Canceled
Number of Warrants, Outstanding, Ending balance	1,909,262	1,428,794	527,378
Weighted Average Exercise Price, Outstanding, Ending balance	$ 9.29	$ 12	$ 14.83
Class A Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of Warrants, Outstanding, Beginning balance	109,687	219,375
Weighted Average Exercise Price,Outstanding, Beginning balance	$ 11.40	$ 11.40
Weighted average remaining contractual life in years, end of period	2 years 2 months 19 days	3 years 2 months 19 days	4 years 2 months 19 days
Number of Warrants, Granted
Weighted Average Exercise Price, Granted
Number of Warrants, Exercised		(109,688)
Weighted Average Exercise Price, Exercised		$ 11.40
Weighted average remaining contractual life in years,, Exercised		3 years 2 months 19 days
Number of Warrants, Forfeited
Weighted Average Exercise Price, Forfeited
Number of Warrants, Canceled
Weighted Average Exercise Price, Canceled
Number of Warrants, Outstanding, Ending balance	109,687	109,687	219,375
Weighted Average Exercise Price, Outstanding, Ending balance	$ 11.40	$ 11.40	$ 11.40

SCHEDULE OF WARRANTS ISSUED (De

SCHEDULE OF WARRANTS ISSUED (Details) - $ / shares	9 Months Ended	12 Months Ended
	Jan. 31, 2021	Apr. 30, 2022	Apr. 30, 2021
Equity [Abstract]
Expected volatility		82%	169%
Stock price on date of grant			$ 9.53
Exercise price			$ 6
Expected dividends		0%
Expected term (in years)		5 years	5 years
Risk free interest rate		1.53%	0.27%
Expected forfeiture rate	0%	0%

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)

1 Months Ended

2 Months Ended

8 Months Ended

12 Months Ended

Apr. 30, 2022

Apr. 25, 2022

Apr. 22, 2022

Apr. 09, 2022

Mar. 18, 2022

Mar. 15, 2022

Feb. 14, 2022

Jan. 24, 2022

Oct. 22, 2021

Oct. 20, 2021

Jul. 19, 2021

Jun. 09, 2021

Jun. 01, 2021

Feb. 14, 2021

Jan. 27, 2021

Jan. 07, 2021

Dec. 31, 2020

Dec. 09, 2020

Dec. 08, 2020

Nov. 30, 2020

Nov. 17, 2020

Nov. 13, 2020

Nov. 09, 2020

Nov. 09, 2020

Oct. 31, 2020

Oct. 30, 2020

Sep. 17, 2020

Sep. 16, 2020

Aug. 31, 2020

Aug. 11, 2020

Aug. 11, 2020

Aug. 10, 2020

Jul. 31, 2020

Sep. 18, 2019

Dec. 21, 2017

Feb. 28, 2021

Nov. 30, 2020

Sep. 30, 2020

Mar. 31, 2021

Sep. 30, 2020

Apr. 30, 2022

Apr. 30, 2021

Apr. 30, 2020

Mar. 16, 2022

Jan. 31, 2022

Feb. 02, 2021

Aug. 31, 2017

Aug. 06, 2017

Class of Stock [Line Items]

Common stock, shares authorized

200,000,000

200,000,000

200,000,000

Common stock, par value

$ 0.001

$ 0.001

$ 0.001

Preferred stock, shares designated

50,000,000

50,000,000

50,000,000

Preferred stock par value per share

$ 0.001

$ 0.001

$ 0.001

Share price

$ 9.53

Common stock issued, value

$ 8,999,077

Proceeds from Issuance of Warrants

$ 4,559,601

Warrant term

5 years

5 years

5 years

Class of Warrant or Right, Unissued

625,000

tock issued during period value restricted stock award net of forfeitures

$ 7,500

$ 7,500

$ 7,500

Share based compensation

$ 77,250

1,669,987

3,602,493

Shares issued for services, value

100,000

1,539,364

Stock compensation expense

1,386,512

1,868,368

Proceeds from exercise of stock warrants

$ 1,000,001

$ 2,499,994

Shares purchase to consultants

75,000

75,000

58,060

Recognized stock-based compensation

$ 133,439

Option term

2 years 2 months 23 days

1 year 6 months 25 days

2 years 10 months 13 days

Exercise price

$ 12.38

$ 12.38

Statements of operations totaled

$ 183,475

$ 194,761

Future vesting value

$ 78,948

$ 78,948

Weighted average period

2 years 8 months 23 days

Issuance of warrants

625,000

192,370

Exerise price

$ 8.60

$ 8

2017 Equity Incentive Plan [Member]

Class of Stock [Line Items]

Common stock issued, shares

1,167,095

Common stock reservation of shares

165,000

Number of performance based restricted stock

836,385

2020 Incentive Plan [Member]

Class of Stock [Line Items]

Common stock reservation of shares

330,710

Restricted Stock Units (RSUs) [Member]

Class of Stock [Line Items]

Shares issued for services

2,097

Shares issued for services, value

$ 25,000

Shares issued price per share

$ 11.92

Common stock exercise of stock warrants

10,000

Proceeds from exercise of stock warrants

$ 70,000

Restricted Stock Units (RSUs) [Member] | Services Rendered [Member]

Class of Stock [Line Items]

Shares issued for services

47,108

Shares issued for services, value

$ 326,475

Shares issued price per share

$ 6.93

Cashless Exercise of Stock Warrants [Member]

Class of Stock [Line Items]

Common stock exercise of stock warrants

33,858

91,894

Proceeds from exercise of stock warrants

$ 109,688

$ 166,666

Consultant [Member]

Class of Stock [Line Items]

Shares issued price per share

$ 9.10

Chief Operating Officer [Member]

Class of Stock [Line Items]

Prorated bonus

$ 150,000

Chief Operating Officer [Member] | Restricted Common Stock [Member]

Class of Stock [Line Items]

Common stock issued, shares

18,502

Share price

$ 8.11

Common stock issued, value

$ 150,000

Chief Executive Officer [Member]

Class of Stock [Line Items]

Stockholder equity description

The Company agreed to pay Mr. Karr a bonus in the amount of $450,000 payable as follows: (i) 75% or $337,500 of the bonus payable in fully vested shares of common stock and (ii) the remaining 25% or $112,500 in cash which was paid in October 2020. The $337,500 bonus was paid in 30,107 shares of common stock and had a fair value of $337,500, or $11.21 per share, based on the quoted trading price on the date of grant, which was fully vested and expensed immediately.

Director [Member]

Class of Stock [Line Items]

Share price

$ 12.67

Stock issued during period shares share based compensation

3,946

Stock issued during period value share based compensation

$ 50,000

Shares purchase to consultants

21,240

Exercise price

$ 6.93

Director [Member] | Restricted Stock Units (RSUs) [Member]

Class of Stock [Line Items]

Shares issued for services

13,852

Shares issued for services, value

$ 96,000

Shares issued price per share

$ 6.93

Three Director [Member]

Class of Stock [Line Items]

Share price

$ 11.21

Stock issued during period shares share based compensation

13,392

Stock issued during period value share based compensation

$ 150,124

Employee [Member] | Restricted Stock Units (RSUs) [Member]

Class of Stock [Line Items]

Shares issued for services

15,322

Shares issued for services, value

$ 150,000

Shares issued price per share

$ 9.79

Vesting percentage

25%

Former Employee [Member] | Restricted Stock Units (RSUs) [Member]

Class of Stock [Line Items]

Common stock issued, shares

1,116

Consultants [Member]

Class of Stock [Line Items]

Shares purchase to consultants

10,620

Option term

5 years

Exercise price

$ 6.93

Consultants [Member] | Restricted Stock Units (RSUs) [Member]

Class of Stock [Line Items]

Shares issued for services

25,685

Shares issued for services, value

$ 178,000

Shares issued price per share

$ 6.93

Edward Karr [Member]

Class of Stock [Line Items]

Shares purchase to consultants

50,000

David Rector [Member]

Class of Stock [Line Items]

Shares purchase to consultants

25,000

Three Former Directors [Member]

Class of Stock [Line Items]

Exercise period of stock options granted

Dec. 21, 2022

Employees [Member]

Class of Stock [Line Items]

Vesting period

3 years

Shares purchase to consultants

26,200

Option term

5 years

Exercise price

$ 6.93

Vesting description

The options vest 25% on the date of grant and 25% each next three years from the date of grant

Northern Panther Merger Agreement [Member]

Class of Stock [Line Items]

Stockholder equity description

In connection with the Merger, Luke Norman Consulting Ltd. received a finder’s fee equal to the quotient of (a) 5% of the purchase value for the Merger and (b) the 30-day Volume Weighted Average Price (“VWAP”) of a share of the Company’s common stock as reported on the Nasdaq Capital Market prior to the execution Merger Agreement, which was paid in 82,500 shares of restricted common stock on August 11, 2020

Securities Purchase Agreement [Member]

Class of Stock [Line Items]

Common stock issued, shares

192,370

Share price

$ 8

Proceeds from issuance initial public offering

$ 2,500,817

Deferred offering costs

$ 440,399

$ 30,767

Legal expenses

$ 25,399

Class of Warrant or Right, Unissued

625,000

Securities Purchase Agreement [Member] | Private Placement [Member]

Class of Stock [Line Items]

Business acquisition, purchase consideration

$ 5,530,004

Securities Purchase Agreement [Member] | IPO [Member]

Class of Stock [Line Items]

Common stock issued, shares

384,741

Share price

$ 6.50

Definitive Agreement [Member]

Class of Stock [Line Items]

Common stock issued, shares

625,000

Share price

$ 8.60

Proceeds from Issuance of Warrants

$ 5,000,000

Definitive Agreement [Member] | IPO [Member]

Class of Stock [Line Items]

Common stock issued, shares

625,000

Share price

$ 8

Placement agent fees

$ 415,000

Restricted Stock Unit Award Agreement [Member] | Two Officer One Employee [Member]

Class of Stock [Line Items]

Stockholder equity description

The RSUs vested 25% on the date of issuance and 25% vest on each of the first, second and third anniversaries of the date of grant.

Share price

$ 11.21

Stock issued during period shares share based compensation

254,464

Stock issued during period value share based compensation

$ 2,852,541

Restricted Stock Unit Award Agreement [Member] | Former Executive Chairman [Member]

Class of Stock [Line Items]

Stockholder equity description

The RSUs vesting terms were 25% on the date of issuance and 25% vest on each of the first, second and third anniversaries of the date of grant.

Share price

$ 11.21

Stock issued during period shares share based compensation

50,000

Share based compensation

$ 560,500

Stock issued during period value share based compensation

560,500

Restricted Stock Unit Award Agreement [Member] | Former Executive Chairman [Member] | Restricted Stock [Member]

Class of Stock [Line Items]

Share based compensation

$ 50,000

One Year Agreement [Member] | Director [Member]

Class of Stock [Line Items]

Common stock issued, shares

3,222

Share price

$ 15.52

Common stock issued, value

$ 50,000

Share based compensation

16,667

Prepaid share based compensation

33,333

$ 33,333

$ 33,333

Investor Relations Agreement [Member] | Restricted Stock Units (RSUs) [Member]

Class of Stock [Line Items]

Share based compensation

244,297

Shares issued for services

25,000

Shares issued for services, value

$ 258,500

Shares issued price per share

$ 10.34

Accrued liabilities current

$ 14,203

Advisory Consulting Agreement [Member] | Consultant [Member]

Class of Stock [Line Items]

Shares issued for services

2,824

Shares issued for services, value

$ 30,000

Shares issued price per share

$ 10.62

Accrued liabilities current

5,000

5,000

Stock compensation expense

$ 25,000

Purchase Agreement [Member]

Class of Stock [Line Items]

Number of warrants to purchase common shares

457,068

Exerise price

$ 14.50

Purchase Agreement [Member] | Palladium Capital Group, LLC [Member]

Class of Stock [Line Items]

Number of warrants to purchase common shares

46,490

Warrant Agreement [Member]

Class of Stock [Line Items]

Class of Warrant or Right, Unissued

625,000

Common Stock [Member]

Class of Stock [Line Items]

Common stock issued, shares

914,136

914,136

Stockholder equity description

A holder of such warrant will not have the right to exercise any portion of its warrants if the holder, together with its affiliates, would beneficially own in excess of 4.99% (or 9.99% at the election of the holder prior to the date of issuance) of the number of shares of common stock outstanding immediately after giving effect to such exercise (the “Beneficial Ownership Limitation”); provided, however, that upon 61 days’ prior notice to the Company, the holder may increase the Beneficial Ownership Limitation, provided that in no event shall the Beneficial Ownership Limitation exceed 9.99%.

Share price

$ 10.54

Common stock issued, value

$ 914

Stock issued during period shares conversion of convertible securities

2,010,963

Proceeds from issuance initial public offering

$ 636,890

Shares issued for services

12,104

163,076

Shares issued for services, value

$ 12

$ 163

Share based compensation arrangement by share based payment award non option equity instruments granted

1,399,698

Vesting period

1 year 7 months 28 days

Number of performance based restricted stock

1,875

Common Stock [Member] | Former Directors [Member]

Class of Stock [Line Items]

Share price

$ 8.13

Stock issued during period shares share based compensation

1,875

tock issued during period value restricted stock award net of forfeitures

$ 15,244

Common Stock [Member] | Consultant [Member]

Class of Stock [Line Items]

Common stock issued, shares

82,500

Share price

$ 9.53

$ 9.53

Common stock issued, value

$ 786,225

Share based compensation

$ 130,000

Prepaid share based compensation

113,750

$ 113,750

Shares issued for services

14,286

2,162

Shares issued for services, value

$ 130,000

$ 22,500

Shares issued price per share

$ 10.41

Accrued liabilities current

16,250

16,250

Common Stock [Member] | 5 Directors [Member]

Class of Stock [Line Items]

Common stock issued, shares

12,500

Share price

$ 11.21

Common stock issued, value

$ 140,125

Common Stock [Member] | Chief Executive Officer [Member]

Class of Stock [Line Items]

Common stock issued, shares

30,107

Share price

$ 11.21

Common stock issued, value

$ 337,500

Bonus paid

$ 337,500

Common Stock [Member] | 4 Former Director [Member]

Class of Stock [Line Items]

Common stock issued, shares

1,875

Share price

$ 8.11

Common stock issued, value

$ 15,206

Common Stock [Member] | Chief Financial Officer [Member]

Class of Stock [Line Items]

Common stock issued, shares

1,857

Share price

$ 7.08

$ 7.08

Share based compensation

13,145

Common Stock [Member] | Director [Member]

Class of Stock [Line Items]

Common stock issued, shares

188

Share price

$ 8.50

$ 8.50

Common stock issued, value

$ 1,598

Share based compensation

16,667

Prepaid share based compensation

$ 33,333

$ 33,333

Shares issued for services

5,814

Shares issued for services, value

$ 50,000

Shares issued price per share

$ 8.60

Common Stock [Member] | Two Consultants [Member]

Class of Stock [Line Items]

Common stock issued, shares

8,047

Share price

$ 11.88

Common stock issued, value

$ 95,565

Common Stock [Member] | Consultants [Member]

Class of Stock [Line Items]

Shares issued for services

2,749

Shares issued for services, value

$ 22,500

Shares issued price per share

$ 8.18

Common Stock [Member] | IPO [Member]

Class of Stock [Line Items]

Common stock issued, shares

457,068

Share price

$ 14.50

Common stock issued, value

$ 9,635,967

Common Stock [Member] | Northern Panther Merger Agreement [Member]

Class of Stock [Line Items]

Common stock issued, shares

581,053

1,650,000

Share price

$ 7.6612

$ 7.6612

Common stock issued, value

$ 12,640,980

Common Stock [Member] | Engagement Agreement Amendment [Member] | Pallladium Capital Group LLC [Member]

Class of Stock [Line Items]

Common stock issued, shares

46,490

Purchase value, percentage

8%

Common Stock [Member] | One Year Consulting Agreement [Member] | Investor Relation [Member]

Class of Stock [Line Items]

Common stock issued, shares

5,009

Share price

$ 11.23

Common stock issued, value

$ 56,250

Share based compensation

$ 23,437

Prepaid share based compensation

$ 32,813

32,813

$ 32,813

Common Stock [Member] | Investor Relations Agreement [Member] | Consultants [Member]

Class of Stock [Line Items]

Share based compensation

13,083

Prepaid share based compensation

143,917

143,917

Shares issued for services

25,000

Shares issued for services, value

$ 157,000

Shares issued price per share

$ 6.28

Common Stock [Member] | Advisory Consulting Agreement [Member] | Consultants [Member]

Class of Stock [Line Items]

Shares issued for services

3,708

Shares issued for services, value

$ 30,000

Shares issued price per share

$ 8.09

Common Stock [Member] | March Twenty Twenty One Agreement [Member] | Former Executive Chairman [Member]

Class of Stock [Line Items]

Share based compensation

$ 52,500

Shares issued for services

5,168

Shares issued for services, value

$ 60,000

Shares issued price per share

$ 11.61

Accrued liabilities current

$ 7,500

Common Stock [Member] | March Twenty Twenty Two Agreement [Member] | Former Executive Chairman [Member]

Class of Stock [Line Items]

Share based compensation

7,500

Prepaid share based compensation

$ 52,500

$ 52,500

Shares issued for services

7,353

Shares issued for services, value

$ 60,000

Shares issued price per share

$ 8.16

Common Stock [Member] | One Year Strategic Advisory Agreement [Member] | Consultant [Member]

Class of Stock [Line Items]

Shares issued for services

12,634

Shares issued for services, value

$ 130,000

Shares issued price per share

$ 10.29

Warrant [Member]

Class of Stock [Line Items]

Common stock issued, shares

166,667

Common stock issued, value

$ 1,000,000

Common stock exercise of stock warrants

166,667

168,571

168,571

178,571

Proceeds from exercise of stock warrants

$ 1,000,000

$ 1,179,997

$ 1,179,997

$ 1,249,997

Series A Convertible Preferred Stock [Member]

Class of Stock [Line Items]

Preferred stock, shares designated

1,300,000

1,300,000

Series B Convertible Preferred Stock [Member]

Class of Stock [Line Items]

Preferred stock, shares designated

400,000

400,000

Series C Convertible Preferred Stock [Member]

Class of Stock [Line Items]

Preferred stock, shares designated

45,002

45,002

Series D Convertible Preferred Stock [Member]

Class of Stock [Line Items]

Preferred stock, shares designated

7,402

7,402

Series E Convertible Preferred Stock [Member]

Class of Stock [Line Items]

Preferred stock, shares designated

2,500

Series F Preferred Stock [Member]

Class of Stock [Line Items]

Preferred stock, shares designated

1,250

1,250

Series G Preferred Stock [Member]

Class of Stock [Line Items]

Preferred stock, shares designated

127

127

Series H Preferred Stock [Member]

Class of Stock [Line Items]

Preferred stock, shares designated

106,894

106,894

Common stock issued, shares

82,500

Series H Preferred Stock [Member] | Northern Panther Merger Agreement [Member]

Class of Stock [Line Items]

Common stock issued, shares

1,068,940

106,894

106,894

Stockholders equity reverse stock split

1 for 10 basis

Conversion of shares

106,894

Series I preferred stock [Member]

Class of Stock [Line Items]

Preferred stock, shares designated

921,666

921,666

Series I preferred stock [Member] | Securities Purchase Agreement [Member]

Class of Stock [Line Items]

Preferred stock par value per share

$ 0.001

$ 0.001

Common stock issued, shares

921,666

921,666

921,666

Share price

$ 6

$ 6

Common stock issued, value

$ 5,530,004

Stock issued during period shares conversion of convertible securities

921,666

Dividends

$ 5,500,000

Convertible Series H Preferred Stock [Member]

Class of Stock [Line Items]

Preferred stock, shares designated

106,894

106,894

106,894

Preferred stock par value per share

$ 0.001

$ 0.001

$ 0.001

Preferred stock, shares outstanding

0

0

0

Convertible Series I Preferred Stock [Member]

Class of Stock [Line Items]

Preferred stock, shares designated

921,666

921,666

921,666

Preferred stock par value per share

$ 0.001

$ 0.001

$ 0.001

Preferred stock, shares outstanding

0

0

0

Series I Convertible Preferred Stock [Member]

Class of Stock [Line Items]

Issuance of warrants

921,666

SCHEDULE OF ANTIDILUTIVE SECURI

SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE (Details) - shares	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	2,608,411	1,980,283
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	441,402	346,802
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	148,060	95,000
Stock Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	2,018,949	1,538,481

SCHEDULE OF ROYALTY PAYABLE (De

SCHEDULE OF ROYALTY PAYABLE (Details) (Parenthetical)	Apr. 30, 2022 $ / shares
FOB Mine Value Per Ton Range One [Member] | Minimum [Member]
Loss Contingencies [Line Items]
FOB mine value per ton	$ 0
FOB Mine Value Per Ton Range One [Member] | Maximum [Member]
Loss Contingencies [Line Items]
FOB mine value per ton	50
FOB Mine Value Per Ton Range Two [Member] | Minimum [Member]
Loss Contingencies [Line Items]
FOB mine value per ton	50.01
FOB Mine Value Per Ton Range Two [Member] | Maximum [Member]
Loss Contingencies [Line Items]
FOB mine value per ton	100
FOB Mine Value Per Ton Range Three [Member] | Minimum [Member]
Loss Contingencies [Line Items]
FOB mine value per ton	100.01
FOB Mine Value Per Ton Range Three [Member] | Maximum [Member]
Loss Contingencies [Line Items]
FOB mine value per ton	150
FOB Mine Value Per Ton Range Four [Member]
Loss Contingencies [Line Items]
FOB mine value per ton	$ 150.01

SCHEDULE OF ROYALTY PAYABLE (_2

SCHEDULE OF ROYALTY PAYABLE (Details)	Apr. 30, 2022
FOB Mine Value Per Ton Range One [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage royalty	5%
FOB Mine Value Per Ton Range Two [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage royalty	7%
FOB Mine Value Per Ton Range Three [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage royalty	9%
FOB Mine Value Per Ton Range Four [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage royalty	10%

SCHEDULE OF FUTURE MINIMUM LEAS

SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS (Details)	Apr. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Fiscal 2023	$ 2,240
Fiscal 2024	960
Total	$ 3,200

SCHEDULE OF RIGHT AND OPTION TO

SCHEDULE OF RIGHT AND OPTION TO EARN-IN AND ACQUIRE UNDIVIDED INTEREST (Details)	12 Months Ended
	Apr. 30, 2022 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Initial earn in amount	$ 3,700,000
Fiscal Year 2023 [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Initial earn in amount	700,000
Fiscal Year 2024 [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Initial earn in amount	1,000,000
Fiscal Year 2025 [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Initial earn in amount	1,000,000
Fiscal Year 2026 [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Initial earn in amount	$ 1,000,000

SCHEDULE OF ADVANCE MINIMUM ROY

SCHEDULE OF ADVANCE MINIMUM ROYALTY PAYMENTS (Details)	Apr. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Fiscal 2023	$ 25,000
Fiscal 2024	25,000
Fiscal 2025	25,000
Fiscal 2026	25,000
Fiscal 2027 and thereafter	125,000
Total	$ 225,000

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details Narrative)		12 Months Ended
	Aug. 25, 2021 USD ($)	Apr. 30, 2022 USD ($) a $ / shares	Apr. 30, 2021 USD ($)	Sep. 01, 2021 USD ($)	May 02, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Lease term, renew				2 years	3 years
Initial earn in amount		$ 3,700,000
Minimum royalty payments percentage		100%
Annual lease payment		$ 44,500
NPRC Option [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Minimum royalty payment		$ 25,000
Maggie Creek [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Undivided interest Percentage		0.50
Initial earn in period		7 years
Initial earn in amount		$ 4,500,000
Initial earn in amount reminder of fiscal year		500,000	$ 300,000
Payment to initial earn in amount		$ 250,000
State of Wyoming Mining Lease One [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Area of land | a		640
Lease renewed date		2013-02
Lease term		10 years
Lease term, renew		10 years
Lease annual payment per acre third ten year term | $ / shares		$ 3
Lease annual payment per acre thereafter | $ / shares		$ 4
State of Wyoming Mining Lease Two [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Area of land | a		480
Lease term		10 years
Lease annual payment per acre | $ / shares		$ 2
Exploration Access and Option to Lease Agreement [Member] | Land Owner [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Annual exploration	$ 10,000
Annual option payment	35,780
Anniversary lease payments	6,560
Total amount				$ 42,340
Closing Amount	26,240
Annual lease payment	50,000
Annual right way payments	13,120
Lease right payments	$ 50,000

SCHEDULE OF NET DEFERRED TAX AS

SCHEDULE OF NET DEFERRED TAX ASSET AND LIABILITIES (Details) - USD ($)	Apr. 30, 2022	Apr. 30, 2021
Income Tax Disclosure [Abstract]
Net operating loss carryover	$ 9,970,000	$ 6,793,000
Stock-based compensation	2,234,000	2,776,000
Capitalized exploration costs		431,000
Accrued remediation costs	11,000	7,000
Alternative minimum tax credit carryover
Subtotal	12,215,000	10,007,000
Less: valuation allowance	(10,063,000)	(7,855,000)
Total deferred tax asset	2,152,000	2,152,000
Acquired mineral rights in excess of tax basis in a tax-free merger	(2,152,000)	(2,152,000)
Total deferred tax liabilities	(2,152,000)	(2,152,000)
Net deferred tax asset (liabilities)

SCHEDULE OF EFFECTIVE TAX RATE

SCHEDULE OF EFFECTIVE TAX RATE (Details) - USD ($)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Income Tax Disclosure [Abstract]
Federal income tax provision (benefit) based on statutory rate, amount	$ (2,925,000)	$ (2,601,000)
Federal income tax expense (benefit) based on statutory rate	21%	21%
State income tax provision (benefit), net of federal taxes, amount
State income tax expense (benefit), net of federal taxes
Change in effective state tax rate, amount
Change in effective state tax rate
Change in prior year estimate, amount	$ 717,000	$ 43,000
Change in prior year estimate	(5.10%)	(0.30%)
Increase (decrease) in valuation allowance, amount	$ 2,208,000	$ 2,558,000
Increase (decrease) in valuation allowance	(15.90%)	(20.70%)
Total taxes on income (loss), amount
Total tax provision (benefit) on income (loss)

INCOME TAX (Details Narrative)

INCOME TAX (Details Narrative) - USD ($)		12 Months Ended
	Aug. 10, 2020	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards		$ 31,600,000
Future taxable income offset percentage			80%
Income tax benefit				$ 438,145
Alternative minimum tax credits		438,000
Increase in operating loss carryforwards		755,000
Increase in deferred tax assets		$ 159,000
Mineral rights acquired	$ 10,249,632
Federal income tax expense (benefit) based on statutory rate		21%	21%
State income tax expense (benefit), net of federal taxes
Valuation allowance on deferred tax assets, percentage			100%
Expires through the year 2038 [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards		$ 13,200,000
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards		$ 44,800,000
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards			$ 7,200,000
Net operating loss carryforwards, expiration date		state net operating loss carryforwards that expire through the year 2038