U.S. Silver Corporation

March 2011

TSXV : USAUS OTC Markets : USSIF

Forward Looking Statements

Certain statements contained in or incorporated by reference into this presentation constitute forward-looking statements. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to U.S. Silver or its management, are intended to identify forward-looking statements, however, other information may also constitute forward-looking statements. Such statements reflect the current views of U.S. Silver with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of U.S. Silver that may be expressed or implied by such forward-looking statements to vary from those described herein should one or more of these risks or uncertainties materialize. U.S. Silver does not intend, and does not assume any obligation, to update these forward-looking statements.

Strong Silver Market Trends

In 1980, when Nelson Bunker Hunt was asked as to why he had developed a passion for silver, he said; "Silver looked safer than overseas oil concessions, the way things were going. And precious metals were a good hedge against paper money".

Silver Demand – Industrial and Investment

Strong Silver Market Trends

Silver up 101% since January 1, 2010

Million oz AgAnnual production85% of revenue from silver

Company Overview

Established producer in prolific Silver Valley in Northern Idaho

Low cost incremental growth potential (excess capacity)

Revenue of $85 million at current prices

Located in Historic Silver Valley

Montana

Oregon

Washington

British Columbia

Spokane

Alberta

Missoula

Boise

Idaho

Over 1 billion ounces produced

Modern and ample infrastructure in place

Safe and friendly jurisdiction

Company Overview• 100% interest in the producing Galena silver-copper-lead mine

– High grade narrow vein mining operation

• 100% interest in the Coeur Silver mine– Redevelopment plans underway

• 2 mills (Galena and Coeur)– Both in use, excess capacity available

• Dominant land position in the Silver Valley– Large under explored property

• No historic environmental liability with EPA– Settled in 2001

• Hedged 20% of production in 2011 to protect CapEx program• 80% unhedged, 100% unhedged in 2012 and after

Million oz Ag

Proved & Probable Reserves

99.8 Million lbs. lead

9.8 Million Lbs. copper

Provides a 7 year mine life

Exploration consistently replaces annual production

Million oz. Ag

2010 Results

5.6 million lbs. lead

1.0 million lbs. copper

Cash costs of $13.50

Galena Mine

Galena Mine – an impressive history

High grade, narrow vein, copper-silver & lead-silver mine

Short term variability in operating results, long term proven producer

No historic environmental liability

ndlargestPrimary silver producer in the U.S.

Galena – Past & Present

Focusing on higher grade zones to increase head grade

Examining production expansion options with high prices

Continued exploration success and mine life extension

millionOunces produced

Mining Operations

No.

3 S

haft

Gal

ena

Sha

ft

Cal

law

ay S

haft

Coe

ur S

haft

2400

Sea Level

3700

5500

Cal

laha

n S

haft

4900

483356400

Coeur 3700

28003000

3400

1200

Silver

Vein117-215

72

Ag - Pb Veins

Ag - Cu Veins

5200

460043004000

LEGEND

175

Galena Performance

Milling OperationsExcess CapacityGalena Mill 900 tons/day and Coeur Mill 500 tons/ day = total capacity of 1,400 tons/day

Ores2 ore types (silver-copper and silver-lead) have separate crushing, milling and flotation circuits

RecoveriesConsistent mill recovery rates of 96% for silver-copper and 92% for silver-lead ores

Smelters Silver-copper concentrates railed to Quebec and silver-lead cons trucked to Trail, BC

Reserves Detail

• Current 43-101 based mine life of approximately 7 years

• U.S. Silver continues to cost effectively add reserves well in excess of its production, continually extending mine life

• Reserves have doubled since property acquired in 2005

Coeur Redevelopment

Restarting The Coeur Mine

• No permitting or acquisition costs

• Existing excess mill capacity

• Examining alternative mining methods & scale

• Additional drilling underway to better define deposit

• Significant exploration upside

millionresource ounces targeted

Exploration Potential

• Dominant land position• Under explored and

accessible camp• Region of increasing

interest• Strong cash flow funding

all plans internally• Identified 8 immediate

targets that are ready for drilling

Thousandacres of land

Exploration Potential

Surface and Underground Drill Targets

Surface and Underground Drill Targets

CA “GAP”

Western Coeur Mine

ArgentineVein

DeepCoeur Mine

DeepSilverVein

Calady MineLead-Silver

Additonal Medium Term Targets

Have developed several medium term targets with expected launch of program in 2012

Drill ready targets identified bySurface and underground showingsGeochem profile matching that of Galena/CoeurRegional structure is the same host for several ot her mines in valleyStrong correlation between tetrahedrite showings and deeper silver vein systems

The Right People in Place

Experienced and Stable Workforce

33 with over 20 years of experienceemployees

The Right Management Team

Bobby E. Cooper

Chairman

• 42 years experience in the mining industry

• Served as Chairman of High Plains Uranium and former President and CEO of Kennecott Corporation

• Formerly held executive positions with Thunder Basin Coal, RTZ (Rio Tinto), Shell Mining, Inspiration Consolidated (Huda), and Ridgeway Mining (Kennecott)

Tom H. Parker

President , CEO & Director

• Mining engineer with over 40 years experience in the mining industry

• Former President and CEO of Gold Crest Mines and High Plains Uranium

• Worked for 10 years as an Executive VP of Anderson and Schwab, a New York based management consulting firm

• Former CEO of Contain Minerals which owned 22 coal mines, the Brewer gold mine, and Montana Talc

• Worked for 10 years for ARCO where he was President of Beaver Creek Coal Mines, General Manager of Nevada Molly, President of Thunder Basin Coal and VP for Engineering, Exploration and Business Development

• Former General Manager of Jacobs Ranch mine for Kerr McGee Coal and served as Project Manager for Conoco

• Worked in potash, limestone and talc industries and has extensive experience in Niger, France and Venezuela

Chris J. Hopkins

CFO

• Chartered Accountant with over 25 years experience in financial management, strategic planning, mergers and acquisitions, corporate finance and financing and management reporting

• Formerly with Rio Algoma, Suncor, and several junior mining and oil & gas companies

Mine Management • Many long service management end employees provide knowledge and continuity

• New management bring new thinking and approaches

The Right Board

Gordon E. Pridham

Director

• Over 25 years experience in investment banking, capital markets, and corporate banking

• President and CEO of Edgewater Capital and Chairman of Titanium Corporation

• Serves as a Director for Newalta Income Fund

• Formerly with Chemical Bank and National Bank, in the energy and minerals sector in New York, Calgary, and Toronto

• Formerly with Merrill Lynch Canada and Midland Walwyn and managed the Investment Banking groups at Deutsche Morgan Grenfell, Research Capital, and Raymond James

John S. Brock

Director

• Geologist with over 40 years experience as an executive for 20 public, junior exploration companies

• Participated in 12 major mineral deposit discoveries in north and western Canada, Nevada, Mexico, and Ecuador

• Served six years as governor of the Vancouver Stock Exchange (TSX Venture Exchange) and CDNX Exchange and 2 years on the TSX Venture Exchange Advisory Board

• Currently CEO of Pacific Ridge Exploration and Senior Consultant to the Manex Resources Group

James M. Macintosh

Director

• Geologist and mining analyst with over 15 years experience

• Served as an executive and a director of numerous public and private companies in Canada and the United States

• President and COO of Innovium Capital, a company that invests in innovative opportunities

Kevin D. Stulp

Director

• Served on the board of Aurora Oil & Gas since 1997

• Worked as a consultant with Forte group,

• Held various positions with Compaq Computer Corporation, including industrial engineer, new products planner, manufacturing manager, director of manufacturing and director of worldwide manufacturing reengineering

Summary

• Highly leveraged silver producer, 85% revenue from silver

• Stable and consistent production• Infrastructure in place with excess capacity• Dominant land position with significant

exploration upside with in a highly prospective regi on

• No debt , sufficient financial capacity to execute growth plan

• No historic environmental liability

Million

Market Data

Current Market Cap

TSX-V: USAOTCQX: USSIFFrankfurt: QE2

52 week hi-low: $0.83 -$0.15

288.9 million shares outstanding

335.3 fully diluted

TSX.V and OTCQX average daily volume 1 Million

Undervalued vs. peers on key metrics

Questions

Contact

Tom ParkerChief Executive Officer208-752-0400

Christopher HopkinsChief Financial Officer

416-907-9539

Patrick PietteTMX Equicom416-815-0700 x267