USCorp is a development-stage company whose operations, as of September 30, 2003 (fiscal year-end 2003), were centered on the development of the mining property known as the Twin Peaks Mine, owned by its subsidiary, USMetals, Inc. USMetals was acquired by USCorp on April 2, 2002. As a result of the acquisition, the Company owns 141 unpatented contiguous mining claims totaling approximately 2,820 acres in Township 13, Yavapai County, Arizona. Gold, silver, copper and other minerals have been recovered in these mines in important quantities. The previous owners started acquisition of this claim group in the early 1940s and by the mid-1980s, the claims group totaled 134 claims. Exploration, drilling and assessment work was done and several geological reports were completed indicating the presence of economically viable deposits of precious metals and complex ores. During fiscal 2003, the Company did not commence commercially viable operations.