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United Silver Corp. Finalizes LLC Agreement with Hale Capital on Crescent Mine Project; Sells First Load of Concentrate to Refinery

28.06.2012  |  Business Wire

United Silver Corp. ('USC';TSX: USC; OTC: USCZF; Frankfurt: UM8)
is pleased to announce that it has closed the agreement with Hale
Capital Partners ('Hale?) first announced on June 4, 2012. Together, USC
and Hale formed the Crescent Mine LLC. Under the terms of the LLC, Hale
made a net Initial Contribution of $2,400,000 in exchange for a 20%
interest in the Crescent Silver Mine, located in the Coeur D'Alene
Silver Belt, Idaho. USC had recently acquired this same interest in the
Crescent Silver Mine project from Gold Finder Explorations Ltd. USC is
the manager and has an 80% interest in the LLC. At any time after USC
has satisfied its obligation to Hale under the Secured Convertible Note
dated February 1, 2012 (see news release dated February 1, 2012), USC
may acquire one half of Hale′s interest in the LLC for a payment equal
to the Initial Contribution.

Other specific terms of the LLC will be disclosed in the LLC agreement
which will be publicly filed on SEDAR.

USC is also pleased to announce that the New Jersey Mill is in
operation, and it has shipped its first load of concentrate from its
test mining operations to the refinery owned by Formation Metals. These
and future concentrate sales are together expected to generate the cash
necessary to complete development and bring the Crescent Mine into
commercial production.

Graham Clark, CEO of USC said, 'We are very pleased with Hale Capital
Partners, LP continued support as they become our joint venture partner
in the Crescent Mine project. This transaction provides us with adequate
funding according to our budget to carry out our development plans until
commercial production makes the Crescent Mine project self sustaining.'

Martin Hale Jr, CEO of Hale Capital Partners, said, 'We are pleased to
have the opportunity to expand our relationship with USC. We focus on
providing growth capital to strong managers developing exceptional
properties. We believe USC fits well with our investment focus.?


USC is a vertically integrated mining company with operations in Idaho,
USA. It has a majority 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:


Based in New York City, Hale Capital Partners has established itself as
a leading private equity firm focused on strategic investments in public
companies and their subsidiaries. Hale Capital Partners' team is
comprised of seasoned private equity veterans and entrepreneurs, who
bring not only deep domain expertise but also hands-on operating
experience to help build highly successful companies. Hale Capital
Partners' mining portfolio spans all stages of mine development from
exploration to commercial production.


'Graham Clark'

Chairman and CEO

Investor Relations

Tel. (855) 238-0202

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 will have sufficient funding from
sale of ore concentrates to carry out development plans until our
project becomes self sustaining.. 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: our
budget forecasts may be inaccurate, results of development activities
may be more difficult or more expensive than anticipated, 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

The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news

United Silver Corp.

Investor Relations

Graham Clark,

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