July 1, 2008
U.S. Precious Metals Releases Gold and Silver Results From Independent Assayer
U.S. Precious Metals, Inc. (OTCBB: USPR) ("USPR"), through its CEO M. Jack Kugler, today released assay data from Chris Christopherson Inc. (an independent testing laboratory in Smelterville, Idaho), for the gold and silver values from an intercept from drill hole number 3. CEO Kugler further indicated that the assay results were quite encouraging. Drill hole number 3, drilled adjacent to drill holes number 1 and 2, apparently intersected another mineralized vein. The first three holes of the drilling campaign were drilled outside the Main Zone and in a location where surface assays were reported at 0.062 opt gold or $56 per ton, at current metal values.
The table below provides the assay results for a portion of the intersected vein.
Au opt Ag opt Verification/Re-Test SAMPLE # (Gold oz/ton) (Silver oz/ton) Au Ag --------- --------------- --------------- --------------- -------------- LS08-3-43 0.045 6.96 0.040 6.88 LS08-3-44 0.104 7.90 0.106 7.85 LS08-3-45 0.124 3.38 0.116 4.02 LS08-3-46 0.070 6.17 0.060 6.16 LS08-3-47 0.019 0.40 LS08-3-48 0.005 0.68 LS08-3-49 0.004 0.36 LS08-3-50 0.004 0.20 LS08-3-51 0.015 2.19 0.012 2.02 LS08-3-52 0.021 1.08 LS08-3-53 0.009 0.43 LS08-3-54 0.005 1.08 LS08-3-55 0.020 3.00 0.025 3.08 LS08-3-56 0.060 4.98 0.049 5.06 LS08-3-57 0.015 1.59
Sample numbers LS08-3-43 to LS08-3-46 have a weighted average of 0.0831 opt gold and 6.165 opt silver, a combined worth of $185 per ton. The copper values have not yet been received; however, we expect ore grade copper values and will provide the assays once they are reported by the independent lab.
In addition, drill hole number 1 intersected 16 feet of 0.0915 opt gold, worth $85 per ton, 0.345 opt silver, worth $5.85 per ton, and anomalous copper, values within the same interval. Drill hole number 2 intersected 6 feet of disseminated native copper; assays reports will be released once completed.
The drilling campaign was initiated in early February in southern Mexico and is now being expanded into other areas of the 37,000 acre property.
U.S. Precious Metals, Inc. is a gold exploration company operating in Mexico through its wholly owned Mexican subsidiary, U.S. Precious Metals de Mexico. U.S. Precious Metal'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 in nature. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words "anticipate,""believe,""estimate,""plan,""intend" and "expect" and similar expressions, as they relate to U.S. Precious Metals, Inc., or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company'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 the Company's Registration Statement on Form SB-2, as amended, and its Annual Report on Form 10-KSB, as amended, for the year ended May 31, 2007. Except as required by the Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements to reflect.
CONTACT: U.S. Precious Metals, Inc. Jack Kugler CEO 407-566-9310 www.usprgold.com
SOURCE: U.S. Precious Metals, Inc.