SOURCE: USA Uranium Corp

USA Uranium Corp

August 24, 2009 09:00 ET

USA Uranium Options Gold Property and Adds Communications Expertise

LAS VEGAS, NV--(Marketwire - August 24, 2009) - USA Uranium Corp. (PINKSHEETS: USAU) ( announces that it is has entered into an option to acquire a 100% interest in the La Dama de Oro gold property consisting of eighteen (18) unpatented mineral claims located along the southwest flank of Sidewinder Mountain, in the Silver Mountain Mining District, 15 miles east-northeast of Victorville, California, USA.

Pursuant to the "Economic and Geological Potential Report" prepared by Donald G. Strachan, Economic Geologist M.Sc. CPG, in January 2004, the La Dama de Oro workings were known as the Mojave Girl from 1892 until 1967. All of the properties were consolidated by the current vendor in 1968 and privately held. Other workings on the Property continue to be known as the Mojave Boy and the Tarantula.

Ore taken from these three mines between 1934 and 1941 was trucked to the Burton Mill in Mojave District, Kern County, California. During this period the mines composing the La Dama de Oro shipped 570 tons of ore to the mill which produced 480.83 oz of gold and 624 oz of silver with an average annual grade over the seven years of 0.84 oz per ton gold and 1.30 oz. per ton silver.

Mr. Strachan states in his report, "Underground workings at the La Dama de Oro Mine have penetrated the western margin of a 4.5 foot-thick quartz vein lens. The extent of hanging wall alteration above this lens indicates it may be projected a minimum of 400 feet along strike and 1,000 feet down dip. Past production records indicate a minimum average ore grade of 0.50 opt Au. If 50% of the projected lens at the La Dama de Oro Mine is ore grade, a conservative minimum geologic potential of 36,000 ounces gold contained in 76,000 tons is available."

Mr. Strachan further states, "At least three additional quartz lenses with similar gold potential are projected along the 6,000-foot east-southeast strike of the La Dama de Oro fault-vein system. This premise is supported by the extensional-oblique genesis for this second-order Helendale Fault structure, by known vein occurrences, and by three additional zones of apparent hanging wall hydrothermal alteration. In my opinion, assuming three additional lenses of mineable widths similar to the original La Dama de Oro lens, conservative minimum geologic potential of the La Dama de Oro mine property is 288,000 tons of ore containing 144,000 ounces of gold."

USA Uranium is also pleased to announce the appointment of Mr. John Perez to the office of Director of Communications where he will be responsible for designing, implementing and managing the Company's shareholder, investor and joint venture communications..

Mr. Perez is a precious metals trading specialist in the gold and silver bullion and equities market. Mr. Perez is a former account executive and precious metals trader at Monex Gold and Silver Inc., managing a multimillion dollar gold and silver portfolio trading in the spot markets. Mr. Perez manages and consults with private equity clients in the precious metals and oil sector raising private capital and for gold and silver exploration and mining companies.

Previously Mr. Perez managed a private equity real estate investment fund for a Forbes 400 client. Mr. Perez also spent several years consulting in the geo-political information realm providing analysis and forecasts for individuals and private equity clients as customized information to provide economic and political insights affecting foreign investments. Mr. Perez also provides communication consulting to Beeston Enterprises Ltd.

To acquire the Option to Acquire the La Dama de Oro Property, the Company is required to issue 3,000,000 common shares to the vendor. To acquire the Property the Company must expend a further $250,000 in exploration of the Property prior to July 24th, 2010 and pay the vendor a further 7,000,000 common shares by that date. Additionally the Company may be required to pay a cash component dependent upon the results of the exploration program. The cash and share payments shall not exceed $10,000,000.

Contact Information