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U.S. Silver Announces Q2 2010 Production

20.07.2010  |  Business Wire


U.S. Silver Corporation (TSX-V: USA, OTCQX: USSIF, Frankfurt: QE2)
('U.S. Silver? or 'the Company?) is pleased to announce silver, copper
and lead production for the second quarter and the first half of 2010.


PERIODIC PRODUCTION DATA

  


Silver

(Ounces)


  


Lead

(Pounds)


  


Copper

(Pounds)


Second quarter 2010

  

563,291

  

1,268,909

  

250,644

Second quarter 2009

  

583,453

  

1,833,638

  

250,451

First half 2010

  

1,198,452

  

2,736,358

  

499,858

First half 2009

  

1,218,244

  

2,891,285

  

551,571

First half 2010 vs. 2009 percentage change

  

-1.6%

  

-5.4%

  

-9.4%


Second quarter 2010 production was 36,709 ounces short of the 600,000
ounce target. Both production and costs were adversely affected by the
contractor fatality announced on June 21 and the ensuing investigation
by the Mine Safety Health Administration (MSHA). Un-audited cash cost
per silver ounce produced, net of by-product credits, totaled $12.78 for
Q2-2010 and $12.68 for the six months ended June 30, 2010.


Tom Parker, President and CEO of U.S. Silver stated, 'In the second half
of 2010, thanks to increased development work, we expect to be mining
more stopes with slightly higher head grades. We will continue main
level track development as well as driving raises to develop additional
mining stopes. Production for the remainder of the year is anticipated
to average approximately 250,000 ounces per month. Total targeted
production in 2010 is 2.7 million ounces of silver, 5.9 million pounds
of lead and 1.5 million pounds of copper. Cash costs are expected to
decline with this increased production in the second half of 2010.'

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 totalling
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.


Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts 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.


U.S. Silver Corporation

Tom Parker, 208-752-0400

President and
CEO

or

Chris Hopkins, 416-907-9539

CFO and Corporate
Secretary



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