U.S. Silver and RX Gold Close Business Combination

U.S. Silver Corporation and RX Gold & Silver Inc. completed their business combination with RX Gold & Silver Inc., by way of a plan of arrangement, to create U.S. Silver & Gold Inc. (the “Combined Company”). Each outstanding common share of U.S. Silver has been exchanged for 0.67 of a common share of the Combined Company and each outstanding common share of RX Gold has been exchanged for 0.109 of a common share of the Combined Company. It is anticipated that the common shares of the Combined Company will commence trading on the TSX under the stock symbol “USA” on or after Wednesday, August 15, 2012.

U.S. Silver was represented by Stikeman Elliott LLP with a team including Jay Kellerman, Mihkel Voore, Ivan Grbešiæ, Jonah Mann, Craig Broadhurst and Bradley Zander (M&A); Peter Howard, Ellen Snow and Vanessa Voakes (litigation) and Dean Kraus and Francesco Gucciardo (tax).

RX Gold and the “Combined Company” were represented in-house by Peter McRae, Vice President and Corporate Counsel, and by Davies Ward Phillips & Vineberg LLP with a team including Kevin Thomson, Peter Hong, Tiffany Jung, Andrew Cooley (M&A); Jim Doris and Bryan McLeese (litigation); Ian Crosbie and Raj Juneja (tax); Gerald Shepherd and Inie Park (US securities) and Scott Semer (US tax).