USA Uranium Adds Chairman and Completes BLM Biological Assessment
October 09 2009 - 7:00AM
Marketwired
USA Uranium Corp. (PINKSHEETS: USAU) (http://usauranium.com) is
pleased to announce that Mr. Ken Berscht has joined the Board of
Directors of the Company and has been elected Chairman. Mr. Berscht
has also been appointed CEO and will be responsible for refining
and developing the strategic vision for the Company's aggressive
US-based precious metal property acquisition strategy.
Mr. Ken Berscht is a member of the Society of Mining, Metallurgy
and Exploration Inc. (SME), and is qualified as an International
Financial Adviser in England. In his career as a broker he has
qualified with the Investment Dealers Association in Canada and as
a General Principal with the National Association of Securities
Dealers, Inc. and the New York Stock Exchange in the United States
of America. He is a graduate of the University of Western Ontario
Business School.
Mr. Berscht has extensive experience in the mining industry and
has recently retired as a Director and the CEO after completing the
reorganization of a major Silver producer and after assisting in
raising over $50 million to put the historic Sunshine silver mine
in Idaho into production. Recently he was also the managing
Directors of Artemis Silver Fund whose goal was to provide
long-term capital appreciation by investing in a portfolio
consisting primarily of silver mining and precious metal-related
securities, and silver bullion.
Mr. Karl Harz, President of the Company, stated, "Having someone
with Mr. Berscht's range and depth of mining and financial
experience, agree to coordinate our efforts will not only allow us
to accomplish our goals all the more quickly, but gives serious
credibility to our core vision of developing a significant
inventory of US based gold in the ground properties."
Mr. Berscht has been the Vice President of Enerplus
International a division of EnerPlus, one of Canada's largest Oil
and Gas Income Trusts. He has assisted in financing a number of
small companies in the mining and petroleum industry such as,
Arimex Resources, Alberta Oil and Gas, Maxx Petroleum and many
others in their formative stages. He was also instrumental in
financing a ten million dollar oil drilling project in Benin, West
Africa and aided in the financing of a Keltic Petrochemical plant
in Nova Scotia.
In his career as a broker, he has managed institutional accounts
in Asia and Europe. Mr. Berscht was also directly responsible for
introducing investors from Hong Kong (PRC), Taiwan and Japan into
the equity markets in Canada and the US. He has also managed an oil
and gas fund in the Cayman Islands and is a former director in
Odyssey Management Inc., a restricted mutual fund administrator in
the Cayman Islands.
The Company is also pleased to announce that it has completed
the Biological Assessment (BA) on the La Dama D' Oro property. The
Biological Assessment is an evaluation of potential effects of a
proposed project on proposed, endangered, threatened, and sensitive
animal and plant species and their habitats. The BA is required by
the BLM and the County as a prelude to the planned drilling program
and the ultimate re-commencement of production on the property.
Ore taken from the La Dama D' Oro between 1934 and 1941 produced
480.83 oz of gold and 624 oz of silver with an average annual grade
over the seven years of 0.84 oz per ton gold and 1.30 oz. per ton
silver. A complete record of shipments is set out below:
Ore shipments from La Dama d' Oro (formerly Mojave Boy, Mojave
Girl, and Tarantula Mines) to Burton Mill, 1934 to 1941 (Burton,
1980)
Avg. Avg.
Year Tons Au oz. Ag oz. Au opt Ag opt
----- ------- ------ ------ ------ ------
1934 124.58 80.15 153.00 0.64 1.91
1935 65.17 56.66 45.00 0.87 0.79
1936 110.37 111.92 237.00 1.01 2.12
(no production shipped to Burton
1937 Mill during 1937)
1938 21.80 25.59 44.00 1.17 1.72
1939 167.94 115.41 47.00 0.69 0.41
1940 66.32 71.51 81.78 1.08 1.14
1941 14.53 19.59 16.84 1.35 0.86
----- ------- ------ ------ ------ ------
Total 570.71 480.83 624.62 0.84 1.30
USA Uranium Director of Communications John Perez said, "USA
Uranium is thrilled to have Ken Berscht on the team as we head into
this new leg of the gold bull market. Ken's years of expertise in
the capital markets and his development of world class mining
projects are key to the success of USAU in the precious metals
arena. Ken Berscht brings a wealth of successful experience to the
USAU team as we accelerate in the acquisition and development of a
variety of new precious metals projects in North America and we
look forward to working with Ken Berscht."
Contact: John Perez USA Uranium Corp. Director of Communications
949 280 4323 office 310-802-3871 e-fax usaupm@gmail.com