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United Silver Corp. Retains SRK Consulting to Complete New Preliminary Economic Assessment and Updated Resource Estimate

15.04.2013  |  Business Wire
VANCOUVER, British Columbia -- (BUSINESS WIRE) -- United Silver Corp. (“United Silver Corp.”, the “Company”, or “USC”: TSX; USC: OTC; USCZF: Frankfurt: UM8) announces that it has retained SRK Consulting Engineers and Scientists (“SRK”) to review, validate and revise as required an internally generated Preliminary Economic Assessment (“PEA”) and an updated resource estimate to ensure they meet the standards required for inclusion in an updated NI 43-101 compliant Technical Report and PEA. The revised mine plan, (“PEA”) and updated resource estimate for the Crescent Mine will be completed shortly. The mine is located near the town of Kellogg, in the prolific Coeur d’Alene Silver Belt, in the state of Idaho. Historically, the Crescent Mine, the adjoining Sunshine mine to the east and the Bunker Hill mine to the west, have combined to produce more than 575 million ounces of silver. The Crescent mine remains largely under explored on both the Alhambra and South veins to depths exceeding 1,830 meters (6,000 feet) from the surface and along a strike length of 2,500 meters (8,200 feet).

Upon beginning work for the Company in early February 2013, Michael P. Gross, M.S., P.Geo., the new Chief Operating Officer, immediately initiated development of an internal Preliminary Economic Assessment and updated resource estimate. Mr. Gross, in conjunction with Mr. R. Michael Robb, P.E. and Mr. Terrence Byberg, both experienced underground miners and mine operators, has developed a mine plan and budget for capital expenditures that he and his team believe will bring the mine to commercial production.. Additionally, Mr. Gross retained Ms. Hazel Mullin, M.S., an associate of Mr. Lawrence A. Dick PhD, P.Geo. who is the Qualified Person for the Company, to complete an updated resource estimate.

SRK will complete the NI 43-101 Technical Report timely for posting on SEDAR as required by Canadian Securities Regulators. The work for the SRK PEA and updated resource estimate is expected to be completed within 5 weeks of the date that USC delivers the completed in-house documentation to SRK in approximately two weeks. The completed Technical Report will be posted to SEDAR within 45 days of announcing the results of the PEA and updated resource estimate.

“We are very encouraged by the results of our internal assessment of what is required to bring the Crescent Mine to commercial production.” said Graham Clark, CEO of USC, “If SRK’s PEA confirms our assessment, we will have a very clear plan and roadmap to bring the mine into production.”


USC is a vertically integrated Canadian mining company with operations in Idaho, USA. It has an 80% interest in the Crescent Silver Mine project in the Silver Valley’s prolific Silver Belt - directly between two of the district’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 providing a complete fabrication shop and service for building and repairing mining equipment 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:


"Graham Clark", Chairman and CEO
Investor Relations
Tel. (855) 238-0202


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 bring the Crescent Mine to commercial production with a reasonable investment, and that SRK will complete a PEA and technical report on the Crescent Mine within 5 weeks. 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 to pay our obligations or carry our plans, labor shortages, possible delays in completing the mill, 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 imprecise 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 Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.


United Silver Corp.
Graham Clark, (855) 238-0202
Chairman and CEO
Investor Relations
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