U.S. Silver Corporation
TSX VENTURE : USA

U.S. Silver Corporation

March 11, 2008 09:30 ET

U.S. Silver Corporation Wins Corporate Development Award From Cambridge House and Announces Stock Option Grants

TORONTO, ONTARIO--(Marketwire - March 11, 2008) - U.S. Silver Corporation (TSX VENTURE:USA) ("U.S. Silver" or the "Company") is pleased to announce that it received the Corporate Development Award for Project Development at the annual Cambridge House Awards Dinner held at the Vancouver Convention and Exhibition Centre in held in January.

Joe Martin, Chairman of Cambridge House International Inc., stated "As the category suggests, this award recognizes a resource company's meaningful progress during the past calendar year. Our Awards Committee, comprised of twenty-four resource industry professionals, was impressed by U.S. Silver's ongoing development of its Galena Silver Lead Copper Mining Complex in Northern Idaho."

Mr. Martin commented further, stating "We congratulate Mr. Bruce Reid, CEO of U.S. Silver Corporation, and his team for their professional accomplishments, and also as the recipients of Cambridge House Corporate Development Award for 2008."

Bruce Reid, Chief Executive Officer of U.S. Silver, stated "We are extremely honored to accept this award on behalf of all the employees of the Company as this award belongs to them for all their hard work and dedication in returning the operation to profitability over the past year and a half. The Company and its employees remain focused on both continuing the growth and to operational excellence".

U.S. Silver is also pleased to announce grants of incentive stock options. The first grant is to a director of U.S. Silver to purchase a total of 100,000 common shares pursuant to the Company's stock option plan (the "Plan"). The options are priced at $0.79 per share and 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 (the "Exchange").

U.S. Silver is also pleased to announce the hiring of O & M Partners, LLC ("O & M") to lead an investor relations program in the United States. O & M have over twenty-five years of experience in the investor relations industry and specialize in resource-based companies.

O & M is located in New York, New York At the present time, neither O & M nor any individuals affiliated with O & M beneficially own, control or direct any shares of U.S. Silver. However, depending on market conditions, individuals affiliated with O & M may in the future acquire, dispose of and/or beneficially own, control, or direct shares of U.S. Silver. O & M's services include, among other things, initiating contacts and facilitating meetings with institutional investors, independent money managers and market makers. U.S. Silver will retain O & M for a period of one year with a provision for renewal.

O & M will receive, pursuant to the Plan, options to purchase up to 250,000 common shares of U.S. Silver. The options are priced at $0.79 per share and expire three years from the date of issue or thirty days from the termination of the agreement between U.S. Silver and O & M. Such options are subject to the terms and conditions of the Plan, certain vesting provisions, and the policies of the Exchange.

ABOUT U.S. SILVER CORPORATION

U.S. Silver, through its wholly-owned subsidiaries, owns and 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 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. U.S. Silver is focused on expanding its production from existing operations as well as exploring its extensive Silver Valley holdings.

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
    Bruce Reid
    Chief Executive Officer
    (416) 848-0858
    or
    U.S. Silver Corporation
    Vance Loeber
    Investor Relations
    (604) 805-3530
    Website: www.us-silver.com