USCorp Terminates Joint Venture Agreement
USCorp (the 'Company?) (OTCBB: USCS) announced today that it has elected
to terminate the Joint Venture Agreement between the Company and Yasheng
Group, a Chinese agricultural conglomerate. The Joint Venture Agreement
specified certain dates for providing the initial funding for the Joint
Venture which were not met. The Joint Venture would have been owned 50
percent by each party with the mining properties owned by the Company
contributed to the Venture upon the initial funding. As a result of
termination of the Joint Venture the mining properties continue to
remain solely controlled by the Company.
USCorp has two mineral exploration projects in the United States: the
gold and silver Twin Peaks project located in Yavapai County, Arizona,
and the gold Picacho Salton project located in Imperial County,
California.
Information about USCorp can be found at its website: www.uscorpnv.com.
About Measurements
Technical Reports and Feasibility Studies on our projects are presented
in accordance with Canadian and internationally recognized standards.
The terms 'Mineral Resource,? 'Measured Mineral Resource,? 'Indicated
Mineral Resource? and 'Inferred Mineral Resource? are Canadian mining
terms and are not defined terms under standards of the United States
Securities & Exchange Commission (SEC). Under SEC standards,
mineralization may not be classified as a 'reserve? unless determination
has been made that the mineralization could be economically produced and
permitted in order to be legally produced or extracted at the time the
reserve calculation is made. USCorp cautions readers not to assume that
all or any part of Measured, Indicated or Inferred Resources will ever
be converted into Mineral Reserves as defined by the SEC.
SAFE HARBOR ACT DISCLAIMER NOTICE
'SAFE HARBOR? STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995: The statements contained in this release which are not
historical facts are forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ
materially from those set forth in or implied by forward-looking
statements. These risks and uncertainties include the Company's entry
into new commercial businesses, the risk of obtaining financing,
recruiting and retaining qualified personnel, and other risks described
in the Company's Securities and Exchange Commission filings. The
forward-looking statements in this press release speak only as of the
date hereof, and the Company disclaims any obligation to provide
updates, revisions or amendments to any forward-looking statement to
reflect changes in the Company′s expectations or future events.
USCorp
Robert Dultz, Chairman and CEO
Robert@uscorpnv.com
or
Martin
E. Janis & Company, Inc. Public Relations
Bev Jedynak,
312-943-1123
bjedynak@janispr.com