Published: January 26, 2012
U.S. Silver Announces Management Changes and Personnel Additions
TORONTO - (BUSINESS WIRE) - U.S. Silver Corporation (TSX:USA, OTCQX:USSIF, Frankfurt:QE2) ("U.S.
Silver" or the "Corporation" ) announces the retirement of Tom Parker,
the Corporation's CEO effective January 31, 2012. "On behalf of the
Board and shareholders, I would like to extend sincere appreciation for
the leadership that Tom has provided. He joined the Corporation at a
critical time in its evolution and led the Corporation in its growth to
a well managed mine with stable production and leaves with U.S. Silver
in a very strong position," remarked Gordon Pridham. Mr. Parker will
remain on the Board of Directors until the Corporation's annual
shareholders' meeting anticipated to be held in June 2012 and will also
be available to the Corporation on a consulting basis. A CEO search
process has begun. Gordon Pridham, Executive Chairman will act as
interim CEO until a permanent replacement is named and Steve Long
remains responsible for the day-to-day mining operations in Idaho as
U.S. Silver's Chief Operating Officer.
The Corporation also wishes to announce that it is aggressively pursing
its strategic goal of growing a high quality work force of experienced
miners. Currently, U.S. Silver is working cooperatively with Hecla
Mining Corporation to employ key people following their announced
suspension of mining operations at its Lucky Friday mine located near
U.S. Silver's operations in the Silver Valley. U.S. Silver has to date
hired 13 workers and continues to evaluate potential hires. It is
expected that this manpower increase will lead to higher levels of
production, mine development and exploration activity.
ABOUT U.S. SILVER CORPORATION
U.S. Silver, through its wholly owned subsidiaries, owns and/or 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 mine in US history. Total silver production from U.S.
Silver's mining complex has exceeded 217 million ounces of silver
production since 1953. U.S. Silver controls a land package now totaling
approximately 14,000 acres in the heart of the Coeur d'Alene Mining
District. U.S. Silver is focused on expanding the production from
existing operations as well as exploring and developing its extensive
Silver Valley holdings in the Coeur d'Alene Mining District.
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
Corporation 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 Corporation. Additional
information identifying risks and uncertainties is contained in filings
by the Corporation with the Canadian securities regulators, which
filings are available at www.sedar.com.
U.S. Silver Corporation
Heather Foster, IR Manager (208)
556-1535 ext. 2
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