TORONTO,
Dec. 18, 2013 /CNW/ - U.S. Silver
& Gold Inc. (TSX: USA) (OTCQX:
USGIF) has come to an agreement with the Mine Safety and Health
Administration ("MSHA") to modify a previously issued order, and
will re-open its Galena Mine Shaft #3 which is used for hoisting
ore. The Mine will begin to recall employees who were impacted by
the closure tomorrow (December 19,
2013).
The original MSHA order was given during a
routine inspection and involved repairs on the #3 Shaft below the
4600 level and above the 5200 level. The shaft was shut down
pending an agreed plan to resolve pre-existing citations which were
unrelated to employee injury and did not allege imminent danger in
the mine. The affected employees were temporarily sent home
while the Company worked on a resolution with MSHA.
"Galena Mine Shaft #3 will be up and running for
production hoisting immediately and we are looking forward to
getting affected employees back to work quickly," said Darren Blasutti, President and CEO of U.S.
Silver & Gold. "I would like to thank MSHA for working
with us to resolve the issues in an expedited manner."
The Company does not expect there to be any
impact on production guidance for 2013 and remains on track to
deliver 2.1 - 2.2 million ounces for the year.
About U.S. Silver & Gold
U.S. Silver & Gold is a silver and gold mining company
focused on growth from its existing asset base and 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 which produces
high-grade silver ore 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 also owns the Drumlummon Mine Complex in
Lewis and Clark County,
Montana.
For further information please see SEDAR or
www.us-silver.com.
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 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 those 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.