TORONTO,
June 12, 2014 /CNW/ - U.S. Silver
& Gold Inc. (TSX: USA)(OTCQX: USGIF) ("U.S. Silver &
Gold" or the "Company") announced today that workers at its Galena
Complex have ratified a collective agreement that will be in effect
until June 2017, with economic terms
to be reviewed in June 2016.
"We were pleased to learn that a majority of our
Galena mine employees voted in favour of our contract proposal"
said Darren Blasutti, President and
CEO of U.S. Silver & Gold. "While participating in cost
savings is difficult for everyone, at this point it's necessary
given the current price of silver. All of our Directors,
Management and salaried employees are already participating in wage
cuts. We greatly appreciate the willingness of our bargaining
unit employees to participate in the much needed savings which will
be reinvested back into the Galena Complex. We look forward
to putting our focus back on meeting our production goals and we
hope the price of silver will rise to the point at which the wage
cuts can be restored."
About U.S. Silver & Gold Inc.
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 and is the second most prolific silver mine in
U.S. history, delivering over 200 million ounces to date. 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.
SOURCE U.S. Silver & Gold Inc.