SOURCE: U.S. Precious Metals, Inc.

April 12, 2010 12:42 ET

USPR Announces Commencement of Drilling Activities and Appointment of New Assayer

LAKE MARY, FL--(Marketwire - April 12, 2010) -  U.S. Precious Metals, Inc. (OTCBB: USPR) ("USPR" or the "Company") announced today that additional drilling has commenced at its La Sabila project in Michoacan, Mexico. Under the current program, the Company plans to drill to depths ranging from 100 meters to 700 meters with a total projection of 10,000 linear meters drilled. This program is expected to give the Company a further understanding of the mineral potential of the La Sabila concession. Dave Burney, President and Exploration Geologist for USPR, said that the Company recently set up one drill rig and started definition drilling within a defined five acre zone, and plans to bring a second drill rig to initiate exploration drilling of the Cuendeo portion of the concession. Burney said that with the two rigs in place, the Company will double the drilling capacity and provide additional geologic information on the two separate areas.

The Company has already obtained an NI 43-101 compliant report reflecting an estimated 1,279,283 tons of mineralized material in the area that has been drilled to date, which represents less than one percent of the total concessions. The new drilling campaign is aimed, in part, at exploration of a hitherto unexplored part of the concession thus providing a better understanding of its potential. Jack Kugler, CEO and company Chairman, said he is very excited and optimistic about this phase of exploration and believes it will help USPR reach a turning point in its strategic plan by bringing additional data about the concession instrumental in defining the potential, and ultimately the economic value, of the property as well as the Company's as a sizable mining venture.

On another note, the company recently engaged as its assayer of record ALS Chemex in Guadalajara, Mexico. The engagement is expected to decrease the turnaround time for the drilling samples and will provide the company with data it plans to use to complete a feasibility study. ALS Chemex is a reputable and well recognized assayer using state of the art equipment and technology to provide USPR with timely and accurate analyses of the drill core. For more information on USPR and to view other press releases visit our website at www.usprgold.com.

About U.S. Precious Metals, Inc.:
USPR is a mineral exploration company headquartered in Lake Mary, Florida and operating in Mexico through its Mexican subsidiary, U.S. Precious Metals de Mexico, S.A. de C.V. USPR owns significant exploration and exploitation rights to approximately 37,000 acres of land in Michoacan, Mexico. USPR'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 statements. Such forward-looking statements relate to future events and future operating results, performance, prospects and opportunities. The use of terms such as "anticipate," "believe," "estimate," "plan," "intend" and "expect" and similar expressions, as they relate to USPR, or its management, identify forward-looking statements. These forward-looking statements are based on information currently available to USPR and USPR's current plans, intentions and expectations. Forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause USPR'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 USPR's Annual Report on Form 10-K for the fiscal year ended May 31, 2009, filed with the U.S. Securities and Exchange Commission on September 16, 2009. Except as required by the Federal securities law, USPR does not undertake any obligation to revise or update any forward-looking statements contained herein after the date hereof.

Contact Information

  • CONTACT:
    U.S. Precious Metals, Inc.
    M. Jack Kugler, Chairman of the Board/CEO
    (407) 566-9310
    http://www.usprgold.com