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U.S. Silver Corporation (TSX: USA) ("U.S. Silver" or the "Company") today responds to a press release issued on July 25, 2012 by Hecla Mining Company ("Hecla"), which announced Hecla's intention to make an all cash offer to acquire all of the outstanding common shares of U.S.

Silver for C$1.80 per share and all of the outstanding common share purchase warrants of U.S. Silver for C$0.205 per warrant (the “Hecla Offer”).
The Company’s board of directors is in the process of reviewing and evaluating the announcement with its outside financial and legal advisors and will notify shareholders of any recommendation in respect of the Hecla Offer by the board of directors through a news release and circular in accordance with applicable securities laws.

The board of directors will update shareholders from time to time on developments relating to the Hecla Offer and the Company’s proposed combination transaction with RX Gold & Silver Inc. (“RX Gold”) announced on June 7, 2012. The combination agreement between U.S. Silver and RX Gold will remain in effect unless terminated by either party in accordance with its terms.
The Company has retained Cormark Securities Inc. as its financial advisors and Stikeman Elliott LLP as its legal advisors.

About U.S. Silver
U.S. Silver, through its wholly owned subsidiaries, owns and/or operates the Galena, Coeur, Caladay and Dayrock silver-lead-copper mines in Shoshone County, Idaho, with the Galena mine being the second most prolific silver mine in U.S. history. Total silver production from U.S. Silver’s mining complex has exceeded 217 million ounces of silver production since 1953. U.S. Silver controls a land package now totalling approximately 14,000 acres in the heart of the Coeur d’Alene Mining District. U.S. Silver is focused on expanding the production from existing operations as well as exploring and developing its extensive Silver Valley holdings in the Coeur d’Alene Mining District.

Volume:
8
Issue:
1
Year:
2012


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