U.S. Precious Metals, Inc. (OTCBB: USPR)
(”USPR” or the “Company”) announced today that the Company, in addition to
working with Castlepines Corporation (”Castlepines”) as previously
announced, has entered into strategic relationships with Nexam Capital LLC
and certain of its affiliates (”Nexam”) and HFP Capital Markets LLC (”HFP”)
to further assist the Company in connection with exploring its financial
and strategic options relating to the exploration and production of
minerals on the La Sabila mining concessions. USPR believes that the
alliances with Nexam and HFP are integral to achieving the milestones
required by Castlepines under its conditional commitment to invest in USPR.
The combination of these relationships is an important part of USPR’s
overall strategic plan for exploration and mining the concessions it owns
in Mexico. USPR believes that these relationships will assist the Company
in making significant strides towards its exploration and development
goals. M. Jack Kugler, Chief Executive Officer and Chairman of the Board
stated he was optimistic that the “combination of these engagements will
create the capital structure that will enable the Company to further
realize growth potential for the Company’s stockholders.”
About U.S. Precious Metals, Inc.:
USPR is a mineral exploration company headquartered in Lake Mary, Florida
and operating in Mexico through its Mexican subsidiary, U.S. Precious
Metals de Mexico, S.A. de C.V. USPR owns significant exploration and
exploitation rights to approximately 37,000 acres of land in Michoacan,
Mexico. USPR’s common stock is quoted on the OTC Bulletin Board under the
symbol “USPR.”
About Castlepines Corporation:
Castlepines Corporation is a well-established international investment firm
founded in Australia. It includes a consortium of various private
companies and trusts that invest in a broad range of infrastructure assets,
including renewable energy resources.
About Nexam Capital LLC:
Nexam Capital LLC is a private holding company based in Greenwich,
Connecticut focused on middle market private equity investments with
current interest in the energy and mining sectors.
About HFP Capital Markets LLC:
HFP Capital Markets LLC, headquartered in New York City, is a wholly owned
subsidiary of Hudson Financial Partners LLC. It is a full service
investment bank providing a wide range of investment products and
investment banking services to a diversified client base that includes
corporations, financial institutions, and high net worth individuals.
Statements contained herein that are not based upon current or historical
fact are forward-looking statements. Such forward-looking statements relate
to future events and future operating results, performance, prospects and
opportunities. The use of terms such as “anticipate,” “believe,”
“estimate,” “plan,” “intend” and “expect” and similar expressions, as they
relate to USPR, or its management, identify forward-looking statements.
These forward-looking statements are based on information currently
available to USPR and USPR’s current plans, intentions and expectations.
Forward-looking statements are subject to a number of risks, uncertainties
and other factors that could cause USPR’s actual results, performance,
prospects and opportunities to differ materially from those expressed in,
or implied by, these forward-looking statements. Factors that could cause
or contribute to such differences include, but are not limited to, such
factors, including risk factors, discussed in USPR’s Annual Report on Form
10-K for the fiscal year ended May 31, 2009, filed with the U.S. Securities
and Exchange Commission on September 16, 2009. Except as required by the
Federal securities law, USPR does not undertake any obligation to revise or
update any forward-looking statements contained herein after the date
hereof.
CONTACT: U.S. Precious Metals, Inc. M. Jack Kugler Chairman of the Board/CEO (407) 566-9310 http://www.usprgold.com