U.S. Silver Corporation is a silver mining company with operations focused on its Galena Mine in Idaho. It has annual production of 2.4 million ounces of silver and is establishing plans to restart production at its Coeur Mine. The company has a strong balance sheet with a low cost structure and dominant land position in the historic Silver Valley mining district that provides exploration upside. U.S. Silver has an experienced management team and board of directors with extensive experience in mining operations.

1. U.S. Silver Corporation
July 2011
TSXV : USA
US OTC Markets : USSIF

2. Forward Looking Statements
Certain statements contained in or incorporated by reference into this
presentation constitute forward-looking statements. The words "may",
"would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate",
"expect" and similar expressions as they relate to U.S. Silver or its
management, are intended to identify forward-looking statements,
however, other information may also constitute forward-looking
statements. Such statements reflect the current views of U.S. Silver with
respect to future events and are subject to certain risks, uncertainties
and assumptions. Many factors could cause the actual results,
performance or achievements of U.S. Silver that may be expressed or
implied by such forward-looking statements to vary from those described
herein should one or more of these risks or uncertainties materialize.
U.S. Silver does not intend, and does not assume any obligation, to
update these forward-looking statements.
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2

3. Strong Silver Market Trends
In 1980, when Nelson Bunker Hunt was asked as to why he had
developed a passion for silver, he said; "Silver looked safer than
overseas oil concessions, the way things were going. And precious
metals were a good hedge against paper money".
Silver Demand – Industrial and Investment
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3

4. Strong Silver Market Trends
60.00
100.00
90.00
Silver Gold
Ratio
50.00
80.00
70.00
40.00
60.00
30.00
50.00
40.00
20.00 Silver up 110% since January 1, 2010
30.00
20.00
10.00
10.00
-­‐
-­‐
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4

5. Company Overview
2.4
Established producer
in prolific Silver Valley
in Northern Idaho
Low cost incremental
growth potential
(excess capacity)
Million oz Ag
Revenue of $85 million
at current prices
Annual production
85% of revenue from silver
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5

6. Located in Historic Silver Valley
Over 1 billion British Columbia Alberta
ounces produced
Modern and ample Spokane
infrastructure Washington Missoula
in place
Montana
Safe and friendly
jurisdiction Oregon
Boise
Idaho
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6

7. Company Overview
• 100% interest in the producing Galena silver-copper-lead mine
– High grade narrow vein mining operation, opened in 1953
• 100% interest in the Coeur Silver mine
– Redevelopment plans underway
• 2 mills (Galena and Coeur)
– Both in use, excess capacity available
• Dominant land position in the Silver Valley
– Large under explored property
• No historic environmental liability with EPA
– Settled in 2001
• Hedged 20% of production in 2011 to protect CapEx program
• 80% unhedged, 100% unhedged in 2012 and after
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7

8. Proved & Probable Reserves
21.9
Million oz Ag
Provides a 7 year
mine life
Exploration consistently
replaces annual
production
86 Million lbs. lead Has produced for almost
11 Million Lbs. copper 60 years and still keep
finding ore
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8

9. Recent Results
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• Q1
2011revenue
lower
due
to
two
rail
cars
shipped
but
not
received
un@l
early
Q2
• Q2
will
have
record
revenue
and
profit
as
a
result
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9

10. Market Data
52 week hi-lo $0.83 -
$193
$0.15
292.4 million
shares outstanding
335.3 fully diluted
TSX.V and OTCQX
Million average daily volume
1 Million
Current Market Cap
(July 14, 2011) Undervalued vs.
peers on key metrics
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10

11. Galena Mine
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11

12. Galena Mine – an impressive history
2nd
largest
Primary silver producer
High grade, narrow
vein, copper-silver &
lead-silver mine
Short term variability in
operating results, long
term proven producer
No historic environmental
in the U.S. liability
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12

13. Galena – Past & Present
179
million
Ounces produced
Focusing on higher
grade zones to increase
head grade
Examining production
expansion options with
high prices
Continued exploration
success and mine life
extension
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14. Mining Operations
LEGEND
Caladay Shaft
Ag - Pb Veins
Callahan Shaft
Ag - Cu Veins
No. 3 Shaft
Galena Shaft
Coeur Shaft
1200
2400
2800
3000 Sea
Level
400 3400
356 483 Silver
117-215 3700
Coeur Vein 4000
3700
4300
4600
4900
175 5200
72
5500
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15. Galena Performance
Silver ounces produced
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
-
2007 Actual 2008 Actual 2009 Actual 2010 Actual 2011 Forecast
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16. Milling Operations
Excess Capacity
Galena Mill 900 tons/day and Coeur
Mill 500 tons/ day = total capacity of
1,400 tons/day
Ores
2 ore types (silver-copper and silver-lead)
have separate crushing, milling and
flotation circuits
Recoveries
Consistent mill recovery rates of
96% for silver-copper and 92% for
silver-lead ores
Smelters
Silver-copper concentrates railed to
Quebec and silver-lead cons trucked
to Trail, BC
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16

17. Reserves Detail
Contained
Ag Lead Copper
Tons Ag
(oz/t) (MM
oz) (MM
lb) (MM
lb)
Proven
&
Probable
Reserves 1,615,700
13.6
21.9 85.6 11.1
Measured
&
Indicated
Resources 560,600
15.6
8.7 14.4 4.8
Inferred
Resource 1,026,300
13.4
13.7 103.3 5.4
Total 44.4 203.3 21.3
• Current 43-101 based mine life of approximately 7 years
• U.S. Silver continues to cost effectively add reserves well in
excess of its production, continually extending mine life
• Reserves increased by 115% since 2006
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18. Coeur Redevelopment
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19. Restarting The Coeur Mine
5.9
• No permitting or
acquisition costs
• Existing excess mill
capacity
• Examining alternative
mining methods & scale
million • Additional drilling
underway to better define
resource ounces deposit
targeted
• Significant exploration
upside
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20. Exploration Potential
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20

21. Exploration Potential
14
• Dominant land position
• Under explored, accessible
• Strong cash flow funding all
plans, 50% increase in
footage in 2011
• Identified 6 surface &
Thousand underground targets that are
ready for drilling
acres of land • Historical success of
increasing reserves well in
excess of production
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22. Significant Reserve Growth
Proved
and
Probable
Silver
Reserves
25,000,000
20,000,000
15,000,000
10,000,000
5,000,000
-
2005 2006 2007 2008 2009 2010
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23. Surface and Underground Drill Targets
CDA
GAP
Western Argentine
Coeur Mine Vein
Deep
Calady Mine
Coeur Mine
Deep Lead-Silver
Silver
Vein
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23

24. Surface Drilling Targets
Commencing 12,000 foot surface drilling program
• CDA Gap
• Argentine Vein
Drill ready targets identified by
• Surface and underground showings
• Geochemical profile matching that of Galena/Coeur
• Strong correlation between surface tetrahedrite
showings and deeper silver vein systems
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25. Underground Drilling Targets
• Targets:
Western Coeur Mine
Deep Coeur Mine
Deep Silver Vein
Caladay Lead-Silver
• Targets are extensions of known vein systems
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26. The Right People in Place
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26

27. Experienced and Stable Workforce
237
employees
33 with over 20 years of
experience
Additional 30 contract
miners
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27

28. The Right Management Team
Gordon E. • Over 25 years experience in investment banking, capital markets, and corporate banking
Pridham • President and CEO of Edgewater Capital and Chairman of Titanium Corporation
Chairman • Serves as a Director for Newalta Income Fund
• Formerly with Chemical Bank and National Bank, in the energy and minerals sector in New York, Calgary, and Toronto
• Formerly with Merrill Lynch Canada and Midland Walwyn and managed the Investment Banking groups at Deutsche Morgan
Grenfell, Research Capital, and Raymond James
Tom H. Parker • Mining engineer with over 40 years experience in the mining industry
President , CEO & • Former President and CEO of Gold Crest Mines and High Plains Uranium
Director • Worked for 10 years as an Executive VP of Anderson and Schwab, a New York based management consulting firm
• Former CEO of Contain Minerals which owned 22 coal mines, the Brewer gold mine, and Montana Talc
• Worked for 10 years for ARCO where he was President of Beaver Creek Coal Mines, General Manager of Nevada Molly,
President of Thunder Basin Coal and VP for Engineering, Exploration and Business Development
• Former General Manager of Jacobs Ranch mine for Kerr McGee Coal and served as Project Manager for Conoco
Steven Long • Over 33 years experience in mine engineering and management
Chief Operating • Direct senior management of underground mining operations for Newmont Mining Corporation in Elko, Nevada and Barrick
Officer Gold, Echo Bay and Homestake Mining
Chris J. Hopkins • Chartered Accountant with over 25 years experience in financial management, strategic planning, mergers and acquisitions,
CFO corporate finance and financing and management reporting
• Formerly with Rio Algoma, Suncor, and several junior mining and oil & gas companies
Mine Management • Many long service management end employees provide knowledge and continuity
• New management bring new thinking and approaches
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29. The Right Board
John S. Brock • Geologist with over 40 years experience as an executive for 20 public, junior exploration companies
Director • Participated in 12 major mineral deposit discoveries in north and western Canada, Nevada, Mexico, and Ecuador
• Served six years as governor of the Vancouver Stock Exchange (TSX Venture Exchange) and CDNX Exchange and 2
years on the TSX Venture Exchange Advisory Board
• Currently CEO of Pacific Ridge Exploration and Senior Consultant to the Manex Resources Group
James M. • Geologist and mining analyst with over 15 years experience
Macintosh • Served as an executive and a director of numerous public and private companies in Canada and the United States
Director • President and COO of Innovium Capital, a company that invests in innovative opportunities
Kevin D. Stulp • Served on the board of Aurora Oil & Gas since 1997
Director • Worked as a consultant with Forte group,
• Held various positions with Compaq Computer Corporation, including industrial engineer, new products planner,
manufacturing manager, director of manufacturing and director of worldwide manufacturing reengineering
Alan R. Edwards • Board of directors for Gammon Gold Inc., Entrée Gold Inc., and Copper One Inc.
• President and Chief Executive Officer of Copper One Inc.
• Senior management positions with Frontera Copper, Apex Silver Mines, Kinross, Cyprus Amax, Phelps Dodge
• Mr. Edwards holds an MBA from the University of Arizona and a B.S. Mining Engineering also from the University of
Arizona.
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30. Summary
Increased
Strength Opportunity
to
Capitalize
on
a
proven
and
established
asset
• Produc@on
growth
• Reserve
Growth
• Explora@on
Expansion
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30

31. Summary
• Highly leveraged silver producer,
85% revenue from silver, strong cash flow
• Stable and consistent production
• Infrastructure in place with excess capacity
• Dominant land position with significant
exploration upside with in a highly prospective region
• No debt, sufficient financial capacity to execute
growth plan
• No historic environmental liability
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