SOURCE: U.S. Precious Metals, Inc.

July 13, 2010 09:43 ET

USPR Additional Update on Closing of Investment

LAKE MARY, FL--(Marketwire - July 13, 2010) -  U.S. Precious Metals (OTCBB: USPR) today announced that it continues to work toward a definitive closing date for the investment by SAK Arabia, LLC. Sultan Alkhereiji, CEO of SAK Arabia LLC, has stated that the investment has his full support and approval and indicated that he anticipates the closing will occur shortly.

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

    U.S. Precious Metals, Inc.
    M. Jack Kugler
    Chairman and Chief Executive Officer
    (407) 566-9310