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Re: News Releases - Tuesday, July 08, 2008
U.S. Silver Announces Management Changes and Stock Option Grants
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July 8, 2008 - Toronto, Ontario - U.S. Silver Corporation (USA-TSXV)
("U.S. Silver" or the "Company") is pleased to announce the promotion
of three senior staff members, the appointment of a Controller at its
Galena Mine complex in Wallace, Idaho and the retirement of Mark
Hartmann, President and Chief Operating Officer of U.S. Silver.
Dale Ibbitson has been promoted to Mine Manager at the Galena Mine
complex. Dale was hired by U.S. Silver-Idaho, Inc., U.S. Silver's
subsidiary, in 2007 as a rehabilitation shaft specialist who consulted
on the repair of the Galena Mine shaft. Dale has over 50 years of
diversified underground mining experience in North America and will be
responsible for the day-to-day operations of the Galena mine complex.
Mr. Ibbitson will report to Bruce Reid, Chief Executive Officer. Stock
Options to purchase 400,000 common shares in the capital of Company
have been granted to Mr. Ibbitson pursuant to the Company's stock
option plan (the "Plan"). The options are priced at $0.40 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").
Carolyn Turner has been hired as the new Controller at the corporate
office in Wallace, Idaho. Until recently Carolyn worked as a treasurer
at a major mining company and previously worked in finance and
administration at the Galena Mine complex up until 2005. Ms. Turner
will report to Joseph Rauhala, Chief Financial Officer. Stock Options
to purchase 500,000 common shares in the capital of Company have been
granted to Ms. Turner pursuant to the Plan. The options are priced at
$0.40 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 Exchange.
Dan Hussey has been promoted to Manager of Exploration for U.S Silver.
Dan had been the Chief Geologist at the Galena mine and has more than
30 years of geological and exploration experience. Dan will be
responsible for exploration in the Americas and will continue to manage
district wide exploration programs in Idaho's Silver Valley. Dan will
work at the corporate office in Wallace, Idaho.
Greg Nickel has been promoted to Chief Geologist at the Galena mine.
Greg was hired early this year as a Senior Mine Geologist. He had
previously worked at the mine at various times as Chief Engineer and
Chief Geologist. Greg's skills and prior experience at the Galena Mine
complex enabled him to make major contributions to the operation since
his return.
Mark Hartmann, the President and Chief Operating Officer of U.S.
Silver, has announced that he will be retiring from the Company as of
July 31, 2008. U.S. Silver wishes to thank Mr. Hartmann for his service
to the Company and wishes him well in his future endeavours.
Bruce Reid, Chief Executive Officer, states "We are pleased to be able
to make these promotions from within the U.S. Silver team. With
production levels expanding and the Company focused on continued
production growth, it is important that we are able to promote high
quality people into key positions. We also owe a great deal of thanks
to Mark Hartmann for his highly valuable contribution and dedication
over the last two years to the turn around of the Galena Mine complex.
We wish Mark all the very best in his retirement".
Finally, the Company announces grants of incentive stock options to a
director and an officer of U.S. Silver. Stock options to purchase a
total of 600,000 common shares have been granted pursuant to the Plan.
The options are priced at $0.40 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 Exchange.
ABOUT U.S. SILVER CORPORATION
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
totalling 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 TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Bruce Reid
Chief Executive Officer
(416) 848 - 0858
or
Vance Loeber
Investor Relations
(604) 805 - 3530
or visit www.us-silver.com
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Copyright (c) 2008 US SILVER CORPORATION (USA) All rights reserved.
For more information visit our website at http://www.us-silver.com/ or
send mailto:hfairhurst@us-silver.com
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