Hecla Announces Intention to Make All Cash Offer to Acquire US Silver Corporation for CDN$1.80 Per Common Share

Hecla Mining Company

announced Wednesday that it intends to have an indirect wholly-owned subsidiary make offers to acquire all of the outstanding common shares of U.S. Silver Corporation for CDN$1.80 per common share in cash and acquire each outstanding common share purchase warrant for CDN$0.205 (its “in the money” amount based on such price per common share). “Once launched and successful, the all-cash Hecla Offer will provide certainty of value and immediate liquidity at an attractive valuation for U.S. Silver shareholders,” said Hecla's President and Chief Executive Officer, Phillips S. Baker, Jr. “We believe that the proposed transaction with RX Gold & Silver fails to maximize value for U.S. Silver shareholders and is, by any measure, inferior to the Hecla Offer.”