TORONTO, Aug. 14, 2013 /PRNewswire/ - U.S. Silver & Gold Inc. (TSX: USA)
(OTCQX: USGIF) ("U.S. Silver & Gold" or the "Company") is pleased to
announce a non-brokered private placement of up to 8,333,333 units
("Units") at a price of CDN $0.60 per Unit, for aggregate gross
proceeds of up to approximately CDN $5,000,000 (the "Offering").

Each Unit will consist of one common share and one half of one common
share purchase warrant (each whole purchase warrant, a "Warrant"). Each
Warrant will entitle the holder to acquire one common share at an
exercise price of CDN $0.75 for a period of three years from the
closing of the Offering.

US Silver & Gold intends to use the proceeds from the Offering to
continue development of the low capital intensity, high potential
Caladay Zone and for general administrative and corporate costs.

A finder's fee may be payable in connection with this non-brokered
private placement.

The Offering is expected to close on or about August 22, 2013 or such
other date as the Company may determine. The Offering and the finders'
fee are subject to certain conditions, including completion of formal
documentation and receipt of regulatory approval, including the
approval of the TSX.

About U.S. Silver & Gold Inc.

U.S. Silver & Gold Inc. is a newly formed silver and gold mining company
focused on growth from its existing asset base and the execution of
targeted accretive acquisitions. It owns and operates the Galena Mine
Complex in the heart of the Silver Valley/Coeur d'Alene Mining
District, Shoshone County, Idaho.  It produces high-grade silver and is
the second most prolific silver mine in U.S. history, delivering over
200 million ounces to date. The Caladay Zone is being evaluated for
bulk mining development.   U.S. Silver & Gold Inc. also owns the
Drumlummon Mine Complex in Lewis and Clark County, Montana.

Mr. Jim Atkinson, Vice President, Exploration and a Qualified Person
under Canadian Securities Administrators guidelines, has approved the
contents of this news release.

For further information please see SEDAR or www.us-silver.com for the NI 43-101 compliant Technical Report on the Galena Project
dated March 22, 2013.

Cautionary Statement Regarding Forward Looking Information:

This news release contains "forward?looking information" within the
meaning of applicable securities laws. Forward?looking information
includes, but is not limited to, the Company's expectations intentions,
plans, and beliefs with respect to, among other things, the Galena
Complex and the Drumlummon Mine. Often, but not always, forward?looking
information can be identified by forward?looking words such as
"anticipate", "believe", "expect", "goal", "plan", "intend",
"estimate", "may", and "will" or similar words suggesting future
outcomes, or other expectations, beliefs, plans, objectives,
assumptions, intentions, or statements about future events or
performance. Forward?looking information is based on the opinions and
estimates of the Company as of the date at which such information is
provided and is subject to known and unknown risks, uncertainties, and
other factors that may cause the actual results, level of activity,
performance, or achievements of the Company to be materially different
from those expressed or implied by such forward looking information.
This includes the ability to develop and operate the Galena and
Drumlummon properties, risks associated with the mining industry such
as economic factors (including future commodity prices, currency
fluctuations and energy prices), failure of plant, equipment, processes
and transportation services to operate as anticipated, environmental
risks, government regulation, actual results of current exploration
activities, possible variations in ore grade or recovery rates,
permitting timelines, capital expenditures, reclamation activities,
social and political developments and other risks of the mining
industry. Although U.S. Silver and Gold has attempted to identify
important factors that could cause actual results to differ materially
from those contained in forward?looking information, there may be other
factors that cause results not to be as anticipated, estimated, or
intended. Readers are cautioned not to place undue reliance on such
information. By its nature, forward?looking information involves
numerous assumptions, inherent risks and uncertainties, both general
and specific, that contribute to the possibility that the predictions,
forecasts, and projections of various future events will not occur. The
Company undertakes no obligation to update publicly or otherwise revise
any forward?looking information whether as a result of new information,
future events or other such factors which affect this information,
except as required by law.

SOURCE U.S. Silver & Gold Inc.