TORONTO (CP) - U.S. Gold Corp. has launched unsolicited takeover offers totalling $291.7 million for four Vancouver-based companies that are exploring in Nevada.

The Denver-based junior gold explorer is run by Rob McEwen, who resigned as chief executive and chairman of Vancouver-based Goldcorp Inc. (TSX:G) last year.

Now, as chief executive of U.S. Gold, McEwen's goal is to create "the premier exploration company in Nevada," and eventually to prepare it for a sale to one of the majors, like Barrick Gold (TSX:ABX) or Newmont Mining Corp.

The market value of his personal investment in the four takeover deals announced Monday is more than $100 million, he told an audience at the Prospectors and Developers Association of Canada's annual convention in Toronto.

The targets are Coral Gold Resources Ltd. (TSXV:CGR), White Knight Resources Ltd. (TSXV:WKR), Nevada Pacific Gold Ltd. (TSXV:NPG) and Tone Resources Ltd. (TSXV:TNS).

Each of the companies is exploring in Nevada's Cortez Trend, near U.S. Gold's Tonkin Springs property. Monday's offers represent a 25 per cent premium to the closing price of each stock on March 3.

The takeover process will take a couple of months, McEwen told reporters Monday.

"We would own more than a third of the trend in a very prolific area," he said. "This is a place you have to do big exploration programs, otherwise your timelines stretch out and your chances of finding it are low."

McEwen worked at Goldcorp Inc. for 19 years, before resigning as chairman when Barrick Gold (TSX:ABX) announced a hostile offer for Placer Dome (TSX:PDG), which included a side deal that would see some Placer assets sold to Goldcorp for more than $1 billion US.

He has previously said that philosophical disagreements contributed to his decision to leave the company. "I like organic growth," he said. "I like low cost and I like no debt."

He bought an interest in White Knight before buying into U.S. Gold, and taking up the helm of that company.

On Monday, Coral Gold disclosed that he has also bought nearly one-fifth of that company.

McEwen said his plan is to create a company that has the land mass and exploration budget of a senior gold producer, and the potential upside to the stock of a junior.

He extolls the virtues of Nevada, which, if it were a country, would be the third largest gold producer in the world, behind South Africa and Australia.

Most of Nevada's discoveries have occurred in the Carlin Trend.

The first major discovery in the Cortez Trend - where U.S. Gold Corp. is - was Placer Dome's Cortez Hills discovery in 2003.

"That, to my mind, is the biggest reason Barrick bought Placer. For that property," he said Monday.

Asked whether he plans to sell his firm to one of the majors, McEwen said that if U.S. Gold can make a discovery, "they'll certainly be looking over the fence," adding that "seniors need to take over juniors."

The executive is very bullish about gold, telling reporters Monday that he believes gold prices could be north of $2,000 US per ounce by 2010. That's nearly quadruple what they are now, after a massive price run-up.

A price of $2,000 would be based on speculation, not fundamentals, he added, and it would be supported by industry consolidation.

Despite his optimism, McEwen had a warning for investors in his and other explorers.

"You have to keep in mind, though, that exploration is risky, and your investment could become zero," he said.

I heard rumours about this deal a couple weeks ago but thought that it might be a publicity ploy by McEwen to boost the share prices of those companies and then flip his shares to speculators for a tidy profit.

Turns out I was wrong. U.S. Gold will turn into one serious contender. I think McEwan is taking a big gamble betting so much of his own money on only one region but I think it will play out very well for both him and his shareholders.

He was amazingly succesful with Goldcorp and I think he will do it again with USGL.

Unfortunately for many of us Canadian investors, USGL only trades over the counter in the US.

I will be looking out for a possible canadian stock listing but I'm not sure if that will happen.

Let me repeat, I see huge potential rewards in this deal for USGL shareholders. Just by glancing at the Management Profiles, Land Holdings, I can see triple digit returns in this company.

I will try to write up a nice big report on USGL in the coming weeks. If you are an american investor, buy!

There are few exploration companies with this much potential, especially in the US.

In Canada, we have much more choice for speculation but it still might be a good buy.

I will contact their Investors Relations soon to ask about a possible Canadian listing because if that would occur, this would probably become my favorite gold play in addition to Silvercorp as my favorite silver stock and Nova as my favorite uranium play..

US Gold Official Website