U.S. Silver Corporation
TSX VENTURE : USA

U.S. Silver Corporation

November 17, 2008 08:18 ET

U.S. Silver Announces Board Changes

TORONTO, ONTARIO--(Marketwire - Nov. 17, 2008) - U.S. Silver Corporation (TSX VENTURE:USA) ("U.S. Silver" or the "Company") announced that as part of the Company's previously announced strategic review, Mark Hartmann and Bruce Reid have resigned as Directors of the Company. The Board of U.S. Silver is now comprised of seven directors with a majority of those directors being independent.

Mr. Hartmann, the former President and COO, was a key player in the creation of U.S. Silver in 2006, and as previously announced, Mr. Reid, another key player in U.S. Silver's re-birth, will continue to act as a consultant to the Company.

Finally, the Company announces grants of incentive stock options to six directors and an employee of U.S. Silver. Stock options to purchase a total of 2,450,000 common shares have been granted pursuant to the Plan. The options are priced at $0.10 per share, expire five years from the date of issue, and are subject to the terms and conditions of the Plan, certain vesting provisions, and the policies of the TSX Venture Exchange.

ABOUT U.S. SILVER CORPORATION

U.S. Silver, through its wholly owned subsidiaries, owns and operates the Galena, Coeur, and Caladay silver-lead-copper mines in Shoshone County, Idaho, with the Galena mine being the second most prolific silver producer in U.S. history. Total silver production from U.S. Silver's mining complex has exceeded 210 million ounces of silver production since 1953. U.S. Silver controls a land package now totaling approximately 18,000 acres in the heart of the Coeur d'Alene Mining District.

The Company is currently debt free and has approximately $8 million in working capital.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • U.S. Silver Corporation
    Tom Parker
    Chief Executive Officer
    (208) 752-0400
    Website: www.us-silver.com