STOCKS OF SILVER

[NYBob]

U.S. Silver Announces Normal Course Issuer Bid


U.S. Silver Corporation
(TSX:USA, OTCQX:USSID, Frankfurt:QE2) (“U.S. Silver” or the
“Corporation”) announces that, subject to acceptance by the
Toronto Stock Exchange (“TSX”) of the Corporation’s Notice of
Intention to make a Normal Course Issuer Bid, the board of
directors has authorized the purchase of up to 3,092,727 of
its common shares, representing approximately 5% of the
Corporation’s issued and outstanding common shares.

http://www.us-silver.com/News-and-Events/News-Releases/News-Release-Details/2012/US-Silver-Announces-Normal-Course-Issuer-Bid1128244/default.aspx

As of February 9, 2012, the Corporation had 61,854,543 common
shares issued and outstanding.

The Corporation will cancel any common shares purchased
pursuant to the normal course issuer bid.

Purchases will be made on the open market by the Corporation
through the facilities of the TSX in accordance with
TSX requirements.

The prices that the Corporation will pay for any purchased
common shares will be the market price of such shares on
the TSX at the time of acquisition.

The Corporation will make no purchases of common shares other
than open market purchases.

Daily repurchases by the Corporation will be limited, other
than block purchase exceptions, to such number of common
shares that represents 25% of the average daily trading
volume for the last six calendar months.

The Corporation has not purchased any of its common shares
during the preceding 12 months pursuant to a normal
course issuer bid.

The Corporation believes that from time to time the common
shares of the Corporation have been trading at prices that
do not fully reflect the underlying value of the Corporation.
As a result, the Corporation believes that its common shares
are a good investment at its current and recent prices.

“With a cash balance in excess of our planned needs, an
expected continued strong silver market and management’s
belief that the current stock price does not reflect the
underlying company value, we feel that this share buyback
program is a very prudent investment for the benefit of
shareholders at this time,” commented Gordon Pridham,
Executive Chairman of U.S. Silver.

The Corporation may from time to time enter into a pre-defined
plan with a registered investment dealer to allow for the
repurchase of common shares at times when the Corporation
ordinarily would not be active in the market due to its own
internal trading blackout periods, insider trading rules,
or otherwise.
This plan will be adopted in accordance with applicable
Canadian securities laws.

ABOUT U.S. SILVER CORPORATION

U.S. Silver, through its wholly owned subsidiaries, owns and/or operates
the Galena,
Coeur, Caladay and
Dayrock silver-lead-copper mines in Shoshone County, Idaho,
with the Galena mine being the second most prolific
silver mine in US history.

Total silver production from U.S. Silver's mining complex has
exceeded 217 million ounces of silver production since 1953.

U.S. Silver controls a land package now totaling approximately
14,000 acres in the heart of the Coeur d'Alene Mining District.

U.S. Silver is focused on expanding the production from existing
operations as well as exploring and developing its extensive
Silver Valley holdings in the Coeur d'Alene Mining District.

Certain information in this press release may contain forward-
looking statements----with the Canadian securities regulators,
which filings are available at www.sedar.com.

http://www.us-silver.com

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