U.S. Silver Corporation and RX Gold & Silver Inc. Receive Interim Orders To Proceed With Special Meetings To Consider Combinati

    




 TORONTO, July 10, 2012 /CNW/ - U.S. Silver Corporation   ("U.S. Silver") and RX Gold & Silver Inc.  ("RX Gold") are pleased to announce today that they have each received an interim  order from the Ontario Superior Court of Justice to proceed with their  respective special meetings of shareholders in connection with the  previously announced business combination of U.S. Silver and RX Gold. 

 The special meeting of U.S. Silver shareholders is scheduled to be held  at the offices of Stikeman Elliott LLP, 5300 Court Commerce West, 199  Bay Street, Toronto, Ontario on Tuesday, August 7, 2012, commencing at  10:00 a.m. (Toronto time). The Notice of Special Meeting to U.S. Silver  shareholders, Management Proxy Circular, Form of Proxy and Letter of  Transmittal for U.S. Silver's special meeting are available at  www.sedar.com and are expected to be mailed to U.S. Silver shareholders  shortly. 

 The special meeting of RX Gold shareholders is scheduled to be held at  the Ontario Bar Association, 20 Toronto Street, Suite 200, Toronto,  Ontario, M5C 2B8 on Tuesday, August 7, 2012, commencing at 9:00 a.m.  (Toronto time). The Notice of Special Meeting to RX Gold shareholders,  Management Information Circular, Form of Proxy and Letter of  Transmittal for RX Gold's special meeting are available at  www.sedar.com and are expected to be mailed to RX Gold shareholders  shortly. 

 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 U.S. 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. 

 About RX Gold & Silver Inc.  

 RX Gold is a gold and silver mining company focused on growth in North  America. Currently RX Gold is concentrating on continuing test mining  and expanding development at its 100%-owned Drumlummon Mine. The  Drumlummon Mine is a bonanza style low sulphidation epithermal gold and  silver deposit with historic production of approximately one million  ounces of gold equivalent. The mine has never been fully exploited or  explored and material that was once considered waste is now potentially  economic. In addition, RX Gold has discovered a series of entirely new  high‐grade gold and silver veins that remain open for expansion in  three directions. 

 Forward-Looking Statements 

 Certain information in this press release may contain forward‐looking  statements. This information is based on current expectations that are  subject to significant risks, assumptions and uncertainties that are  difficult to predict and the risk that regulatory approvals may not be  obtained or that conditions of closing will not be satisfied or waived  within the timeframe contemplated. Additional potential risks include:  U.S. Silver & Gold Inc. may not achieve anticipated synergies; loss of  key personnel; reduction in the anticipated cash levels; and not  achieving production goals stated. Actual results might differ  materially from results suggested in any forward‐looking statements.  U.S. Silver and RX Gold assume no obligation to update the  forward‐looking statements, or to update the reasons why actual results  could differ from those reflected in the forward looking‐statements  unless and until required by securities laws applicable to the U.S.  Silver and RX Gold. Additional information identifying risks and  uncertainties is contained in filings by the U.S. Silver and RX Gold  with the Canadian securities regulators, which filings are available at  www.sedar.com. 

 Neither the TSX Venture Exchange nor its Regulation Services Provider  (as that term is defined in policies of the TSX Venture Exchange)  accepts responsibility for the adequacy or accuracy of this release. 

RX Gold & Silver Inc.


CONTACT:  U.S. Silver CorporationChris HopkinsChief Financial Officer(416) 907-5501E-mail: [e-mail] Gold & Silver Inc. Darren BlasuttiChief Executive Officer(416) 848-9503E-mail: [e-mail] 


    

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