SOURCE: U.S. Precious Metals, Inc.

August 04, 2008 08:00 ET

U.S. Precious Metals, Inc.: Assays on Selected Intervals From Drill Hole Number 5 Produce Most Encouraging Results to Date From the Drilling Campaign in Southern Michoacan, Mexico

CELEBRATION, FL--(Marketwire - August 4, 2008) - U.S. Precious Metals, Inc. (OTCBB: USPR) ("USPR"), M. Jack Kugler, CEO and Chairman of the Board, USPR, Inc. announced today that the assay data on selected intervals from drill hole number 5 released today are very encouraging. The ongoing drilling campaign is located in southern Michoacan, Mexico. A total of 136 feet of sulfide mineralization was intersected in drill hole number 5. There are five zones of interest disclosed in the tables below.

Sample          Gold    Silver  Copper
Number          (opt)   (opt)   (ppm)   Footage
----------      -----   ----    ------  -------
LS 08-5-27      0.050   0.68     2417   370-372
LS 08-5-28      0.556   1.24    11738   372-374
LS 08-5-29      0.052   0.51     1229   374-376
LS 08-5-37      0.052   1.99     4270   398-400
LS 08-5-38      0.496   3.59    31707   400-402
LS 08-5-39      0.548   2.68    26179   420-404
LS 08-5-40      0.578   1.98     1896   404-406
LS 08-5-41      0.848   1.03     1189   406-408
LS 08-5-42      0.070   1.09      451   408-410
LS 08-5-43      0.245   0.35      833   410-412
LS 08-5-46      0.106   1.87    18389   498-500
LS 08-5-47      0.116   3.09    24852   504-506
LS 08-5-51      0.071   0.38     1366   524-526
LS 08-5-52      0.040   0.52     1045   526-528
LS 08-5-53      0.350   0.93     3402   528-530
LS 08-5-54      0.165   0.34     1651   530-532
LS 08-5-55      0.060   0.75     4224   532-534
LS 08-5-59      0.017   1.50     3989   578-580
LS 08-5-60      0.016   0.36     1967   580-582
LS 08-5-61      0.021   2.78    10442   582-584
LS 08-5-62      0.009   1.04     5180   584-586
LS 08-5-63      0.013   2.12     7426   586-588
LS 08-5-64      0.010   1.20     1481   588-590

The veins are believed to be dipping at 80 degrees to the SE, the true widths of the veins are calculated to be as shown in the table below:

                                          INTERVAL
ZONE    TRUE WIDTH        VALUE*        INTERSECTED
----    ----------      -----------     -----------
Zone 1     4.5'         $251.79/ton     370' - 376'
Zone 2      10'          472.26/ton     398' - 412'
Zone 3       6'          151.64/ton     498' - 506'
Zone 4       8'          153.11/ton     524' - 534'
Zone 5       9'           76.22/ton     578' - 590'

* Values based on Gold at $918.30 per ounce, Silver at $17.31 per ounce and Copper at $3.69 per pound.

All assay results to date have been issued by Chris Christoperson Inc., an independent testing laboratory in Smelterville, Idaho.

U.S. Precious Metals, Inc. is a gold exploration company operating in Mexico through its wholly owned Mexican subsidiary, U.S. Precious Metals de Mexico. U.S. Precious Metal's common stock is quoted on the OTC Bulletin Board under the symbol "USPR."

Statements contained herein that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words "anticipate," "believe," "estimate," "plan," "intend" and "expect" and similar expressions, as they relate to U.S. Precious Metals, Inc., or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, such factors, including risk factors, discussed in the Company's Registration Statement on Form SB-2, as amended, and its Annual Report on Form 10-KSB, as amended, for the year ended May 31, 2007. Except as required by the Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements to reflect.

Contact Information

  • CONTACT:
    U.S. Precious Metals, Inc.
    M. Jack Kugler
    CEO
    407-566-9310
    www.usprgold.com