USCorp Gold and Silver Junior Exploration Mining Company Recent Accomplishments
August 26 2010 - 8:30AM
Business Wire
USCorp (OTCBB:USCS) today released the following information for
shareholders and interested members of the public:
Earlier this month we filed our Report on Form 10-Q with the
U.S. Securities and Exchange Commission (SEC) with financial
statements for the period ending June 30, 2010, our fiscal third
quarter. A link to the filing is on our web site:
http://uscorpnv.com.
We also paid the annual maintenance fee for our California and
Arizona Claims. We filed 172 claims in Arizona and 106 claims in
California. We reduced the number of claims filed in California and
therefore our cost basis, by eliminating duplicate lode and placer
claims that covered the same ground and correcting or eliminating
overlapping claims. Our total acreage remains the same.
In California we are very close to obtaining approvals necessary
to initiate our planned drilling program for our Picacho Salton
Project. In Arizona the third and final phase of the Twin Peaks
drilling program is designed and necessary to generate a report
that meets industry measurement reporting standards. Without the
third phase completed we cannot say much regarding the results of
the first two phases, except to release assay results as we have
done previously. Our current projections were made without
including the results from the first two phases of the drilling
program because of the need for the completion of the third
phase.
We continue to discuss financing options with individuals and
entities regarding potential acquisition, direct investment,
joint-venture, and other business combinations. We have also begun
discussions concerning expanding and strengthening our mining
management team.
About USCorp
USCorp has two mineral exploration projects in the United
States: the gold and silver Twin Peaks project located in Yavapai
County, Arizona, and the gold Picacho Salton project located in
Imperial County, California.
About Measurements
Technical Reports and Feasibility Studies on our projects are
presented in accordance with Canadian and internationally
recognized standards. The terms "Mineral Resource," "Measured
Mineral Resource," "Indicated Mineral Resource" and "Inferred
Mineral Resource" are Canadian mining terms and are not defined
terms under standards of the United States Securities and Exchange
Commission (SEC). Under SEC standards, mineralization may not be
classified as a "reserve" unless the determination has been made
that the mineralization could be economically produced and
permitted in order to be legally produced or extracted at the time
the reserve calculation is made. USCorp cautions readers not to
assume that all or any part of Measured, Indicated or Inferred
Resources will ever be converted into Mineral Reserves as defined
by the SEC.
Forward-Looking Statements
Statements contained in this release that are not historical
facts are forward-looking and involve risks and uncertainties. See
“Risk Factors” in the company’s filings with the U.S. Securities
and Exchange Commission. The actual results that the company
achieves may differ materially from any material forward-looking
statements due to such risks and uncertainties. The company
undertakes no obligation to revise or update publicly any
forward-looking statements for any reason.
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