Message #147 From:
gapper2 Date: November 10, 2008 08:53:16 AM
Completion of an NI 43-101 Compliant Technical Report
USPR Announces the Completion of an NI 43-101 Compliant Technical Report
CELEBRATION, FL, Nov 10, 2008 (MARKET WIRE via COMTEX) -- U.S. Precious Metals,
Inc. (OTCBB: USPR) ("USPR") CEO and Chairman of the Board, M. Jack Kugler,
announced today that a National Instrument 43-101 ("NI 43-101") compliant
technical report has been submitted by Michael Floersch, Applied Minerals, Inc.,
Thompson Falls, Montana. Mr. Floersch is a "qualified person" as defined in NI
43-101. This technical report is a comprehensive summary of USPR's mineral
concession and drilling campaign in southern Michoacan. The focus of the report
is on proven and probable ore reserves. Included in the report are assay logs of
the mineralized intercepts, ore reserve summary calculations and geologic
interpretations of the mineralized intercepts. Mr. Floersch has been following
the drilling campaign since February 2008 when the drilling campaign began and
has also been involved in the drilling strategy.
National Instrument 43-101 (NI 43-101) is a rule developed by the Canadian
Securities Administrators (CSA) and administered by the various Canadian
provincial securities commissions that govern how issuers disclose scientific
and technical information about their mineral projects to the public. It covers
oral statements as well as written documents and websites. It requires that all
disclosure be based on advice by a "qualified person" and in some circumstances
that the person be independent of the issuer and the property.
For more information regarding USPR's activities and to review the NI 43-101
compliant technical report, go to www.usprgold.com.
About U.S. Precious Metals
U.S. Precious Metals, Inc. is a mineral exploration company operating in Mexico
through its wholly owned Mexican subsidiary, U.S. Precious Metals de Mexico.
USPR is headquartered in Celebration, Florida and has a warehouse and laboratory
facility in Morelia, Mexico. Currently, USPR's focus is on developing its La
Sabila mining concession in Mexico. In addition, it is actively exploring in the
state of Michoacan for other economic mineral resources. 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-K, for the year ended May 31, 2008, as
amended. See www.sec.gov. 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. Mr. Michael Jack Kugler CEO 407-566-9310 www.usprgold.com
