U.S. Silver Corporation

U.S. Silver Corporation

October 14, 2008 17:40 ET

U.S. Silver Reports Management Changes

TORONTO, ONTARIO--(Marketwire - Oct. 14, 2008) - U.S. Silver Corporation (TSX VENTURE:USA) ("US Silver" or the "Company") is pleased to announce that Bobby Cooper will become the Company's new Chairman of the Board effective immediately. Mr. John Ryan, the former Chairman, will remain an active member of the board. Mr. Ryan was hugely instrumental in the creation of US Silver in 2006. He has served the Company with distinction and dedication over the past two years providing the leadership needed to help the Company and its Galena Mine achieve a significant turnaround.

Mr. Ryan commented, "With current market conditions, it is time for someone new with a strong operating background to guide the Company towards its objective of returning the Galena mine to full profitability in a difficult commodity market." Mr. Bruce Reid, the Chief Executive Officer, further thanked John for all his hard work and dedication in helping US Silver during his tenure as Chairman. "I look forward to his continued assistance as Board member."

Mr. Cooper is a Mining Engineer with over 40 years of direct involvement in the mining industry. He previously worked at Kennecott Mining Corporation from 1987 to 1997, where he was President and Chief Operating Officer from 1993 to 1997. Mr. Cooper has extensive experience with both public and private company boards. Most recently, Mr. Cooper served as Chairman of High Plains Uranium Inc. from 2005 until that company was taken over in late 2006. Mr. Cooper has been an independent member of the board of US Silver since its inception in 2006.


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. U.S. Silver is focused on expanding its production from existing operations as well as exploring its extensive Silver Valley holdings.

The Company is debt free and has about $10 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
    Bruce Reid
    Chief Executive Officer
    (416) 848-0858
    U.S. Silver Corporation
    Vance Loeber
    Investor Relations
    (604) 805-3530
    Website: www.us-silver.com