U.S. Silver & Gold Inc. Begins OTCQX Trading as USGIF

TORONTO, Aug. 29, 2012 /CNW/ - U.S. Silver & Gold Inc. (OTCQX: USGIF; TSX: USA) (the "Company") a growth-oriented precious metals producer, announces that it is now trading on the OTC marketplace, OTCQX^®, following the combination transaction between two former OTCQX traded companies - U.S. Silver Corporation and RX Gold & Silver Inc.- that closed on August 13, 2012.  The Company began trading today on the OTC market's prestigious tier, OTCQX International.  Investors can find current financial disclosures and Real-Time Level 2 quotes for the Company at www.otcmarkets.com.

"The OTCQX platform offers investor-focused companies a winning combination of quality control, transparency, and broader visibility to U.S. investors," said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. "We are pleased to welcome the combined company U.S. Silver & Gold to OTCQX."

Dorsey & Whitney LLP will serve as U.S. Silver & Gold's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements and U.S. securities laws.

About U.S. Silver & Gold Inc.
U.S. Silver & Gold Inc. (OTCQX: USGIF; TSX: USA) trades in the United States on OTCQX under the symbol "USGIF". U.S. Silver & Gold is a new silver and gold mining company focused on growth from existing and new assets. U.S. Silver & Gold owns and operates the Galena Mine Complex in the heart of the Silver Valley/Coeur d'Alene Mining District, Shoshone County, Idaho and the Drumlummon Mine Complex in Lewis and Clark County, Montana.  Within the Galena Mine Complex, the Galena mine produces high grade silver and is the second most prolific silver mine in U.S. history, delivering over 200 million ounces to date, the Coeur mine is under re-development with production expected in late 2012 and the Caladay lead/silver zone is being evaluated for bulk mining development.  U.S. Silver & Gold also controls 14,000 acres of exploration land in the prolific Silver Valley that has had very little exploration focus until recently.  The Drumlummon mine currently produces high grade gold and silver with historical production of 1 million ounces of gold and 12 million ounces of silver and has never been fully exploited or explored.  U.S. Silver & Gold is concentrating on unlocking value at its producing asset base.  U.S. Silver & Gold is also focused on brownfield expansion and the execution of targeted accretive acquisitions. Visit www.us-silver.com.

Investor Relations Contact for US Silver & Gold:
In the United States - Heather Foster at 208-556-1535 ext. 2
In Canada - Nicole Richard at 416-848-9503

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SOURCE U.S. Silver & Gold Inc.