US Precious Metals (fka USPR)

[gnolfinvestor]

TECHNICAL REPORT OUT

US Precious Metals, Inc. (USPR) Announces Independent Technical Report for La Sabilia Property
Accesswire
27 minutes ago
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NEW YORK, NY / ACCESSWIRE / November 23, 2015 / US Precious Metals Inc. (USPR) announces it has received a technical report from Applied Minerals, Thompson Falls, Montana. The report ("Report") is entitled “La Sabila Precious & Base Metals Deposit Project Report.” Mr. Michael J. Floersch is the Qualified Person (QP) responsible for the report.

This 40 page report describes the history of our Michoacan, Mexico property as well as geology and geologic history of its mineralization. It discusses in detail the resource estimate based upon the 2015 drilling campaign which primarily focused on the "Main Zone" and areas surrounding the "Main Zone." It also incorporates the previous drilling campaigns of 2008 and 2010 (a total of 11,300 meters of core was drilled in these three campaigns) along with other historical data. The Report further summarizes ten mineralized zones recognized in the 2200 meter (1.367 mile) strike length.

The Report calculates Indicated Resources for the drilled acreage by zone and reports the following Total Indicated Resource:

Indicated Mineralized Material: 6,283,500 tonnes

Au (Gold) Indicated Resource: 954,957.91 troy ounces

Ag (Silver) Indicated Resource: 4,651,690.38 troy ounces

Cu (Copper) Indicated Resource: 68,680 tonnes

The above tonnage and resource amounts have been determined in accordance with NI 43-101 standards.

This Indicated Resource encompasses less than 1% of USPR's 37,316 acre property.

The report concludes: "La Sabila deposit is a copper, silver, gold deposit within a dolomitic quartz sulfide stockwork and hosted in shallow marine black shale siltstone sedimentary unit of Cretaceous age. A volcanogenic massive sulfide origin has been suggested by several geologists although not confirmed at this time by academic studies. The system is a minimum of 2200 meters in length and lies adjacent a reverse fault that creates a northeasterly trending valley. However, at this time in the exploration, the system is open to the north and south. It is worth pointing out that USPR has explored less than 1% of the entire concession; further exploration in targeted areas will lead to other strike zones and areas."

The Report also states: "It is the opinion of the author the project merits continued exploration and drilling. Due to the success of the 2015 drilling campaign the project is reclassified as a mid-level exploration project and pre-development planning should begin."

The Technical Report can be read in its entirety at http://www.usprgold.com under the exploration tab.

John Gildea, CEO of USPR stated; "We are thrilled to announce the results of this Technical Report. I want to thank all of our employees and loyal shareholders that have helped us reach this momentous milestone. Now that the Report is complete, I would expect further milestones of our business plan to occur at a more accelerated pace. We are currently in the planning stage to commence an additional 5,000 meter drilling campaign, along with other exploration efforts, early in 2016 to expand upon these results. I will keep our shareholders apprised of all developments as they occur."

Cautionary Note to Investors Regarding Estimates of Indicated Resources

This press release uses the term "Indicated Resources." We advise investors that this term is not recognized by the United States Securities and Exchange Commission (the "SEC"). The estimation of Indicated Resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. Mineral resources are not mineral reserves, and investors are cautioned not to assume that indicated mineral resources will be converted into reserves. Investors are urged to consider closely the disclosures in our Form 10-K and other SEC filings.