United Silver Corp. Acquires Gold Finder Interest in Crescent Mine Project
United Silver Corp. ('United Silver Corp.?,the 'Company?, or
'USC?;TSX: USC; OTC: USCZF; Frankfurt: UM8) is pleased to announce
that it has acquired Gold Finder Explorations Ltd.′s 20% joint venture
interest in the Crescent Silver Mine, located in the Coeur D′Alene
Silver Belt, Idaho. Prior to this acquisition, USC had earned an 80%
interest in the Crescent Silver Mine project and Gold Finder held the
remaining 20% interest. The parties have agreed that USC would own the
project and would pay to Gold Finder a net smelter royalty interest on
commercial production from the whole property that USC now controls,
including property that had not been previously owned by Gold Finder.
In consideration of the transfer of Gold Finder′s 20% interest in the
project and payment by Gold Finder of $400,000, half in cash and half
out of NSR payments owing to Gold Finder in future, Gold Finder is
entitled to a perpetual 2% NSR on commercial production from all
minerals on the Crescent Mine properties that USC currently owns. The
agreement is effective immediately.
Graham Clark, CEO of USC said, 'We believe that our acquisition of the
Gold Finders interest in the Crescent Mine project provides certainty to
both companies. Our previously announced plans to develop the Crescent
Mine remains our focus and priority. We are now looking at ways to
ensure we have adequate funding in place to carry out our plans until
commercial production makes our project self sustaining and profitable.?
ABOUT UNITED SILVER CORP.
USC is a vertically integrated mining company with operations in Idaho,
USA. It has now acquired a 100% interest in the Crescent Silver Mine
project in Idaho's prolific Silver Belt - directly between two of the
world's historically largest silver producing properties, the Sunshine
and Bunker Hill mines. USC also offers a full suite of mining services
including contract mining and mine machine repair and fabrication
services to silver miners in the district. USC's common shares trade on
the Toronto Stock Exchange under the symbol 'USC'. For more information
about USC, please visit: www.unitedsilvercorp.com
ON BEHALF OF UNITED SILVER CORP.
'Graham Clark'
Chairman and CEO
FORWARD LOOKING STATEMENTS: This press release contains forward-looking
statements, which address future events and conditions, which are
subject to various risks and uncertainties. Forward looking statements
in this press release include that we can arrange to have sufficient
funding until our project becomes self sustaining, and that it will
become self sustaining and profitable.. The Company's actual results and
financial position could differ materially from those anticipated in
such forward-looking statements as a result of numerous factors, some of
which may be beyond the Company's control. These factors include:
results of exploration and development activities, mis-estimation of
mineral reserves and resources, fluctuations in the marketplace for the
sale of minerals, the inability to implement corporate strategies, the
inability to obtain sufficient financing, labor shortages, the inability
to keep key employees, currency fluctuations, general market and
industry conditions and other risks disclosed in the Company's filings
with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and opinions of
the Company's management on the date the statements are made. The
assumptions used in the preparation of such statements, although
considered reasonable at the time of preparation, may prove to be
inaccurate and as such, undue reliance should not be placed on
forward-looking statements. The Company expressly disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise.
The TSX Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of the content of this news release.
United Silver Corp.
Investor Relations
Graham Clark,
855-238-0202