U.S. Silver Corporation (TSX:USA, OTCQX:USSID, Frankfurt:QE2) (“U.S. Silver” or the “Corporation”) announces that, subject to acceptance by the Toronto Stock Exchange (“TSX”) of the Corporation’s Notice of Intention to make a Normal Course Issuer Bid, the board of directors has authorized the purchase of up to 3,092,727 of its common shares, representing approximately 5% of the Corporation’s issued and outstanding common shares. As of February 9, 2012, the Corporation had 61,854,543 common shares issued and outstanding. The Corporation will cancel any common shares purchased pursuant to the normal course issuer bid. Purchases will be made on the open market by the Corporation through the facilities of the TSX in accordance with TSX requirements. The prices that the Corporation will pay for any purchased common shares will be the market price of such shares on the TSX at the time of acquisition. The Corporation will make no purchases of common shares other than open market purchases. Daily repurchases by the Corporation will be limited, other than block purchase exceptions, to such number of common shares that represents 25% of the average daily trading volume for the last six calendar months. The Corporation has not purchased any of its common shares during the preceding 12 months pursuant to a normal course issuer bid.