U.S. Silver Corporation: Retraction of Option Repricing Proposal

TORONTO, ONTARIO -- (MARKET WIRE) -- 05/26/08 -- U.S. Silver Corporation (TSX VENTURE: USA) -

U.S. Silver Corporation announces that, further to the press release issued earlier today, the Corporation will no longer seek shareholder approval for, and will not proceed with, the repricing of certain previously issued and outstanding stock options granted to an insider of the Corporation.

ABOUT U.S. SILVER CORPORATION

U.S. Silver, through its wholly-owned subsidiaries, owns and operates the Galena, Coeur, Caladay and Dayrock silver-lead-copper mines in Shoshone County, Idaho, with the Galena mine being the second most prolific silver producer in U.S. history. Total silver production from U.S. Silver's mining complex has exceeded 210 million ounces of silver production since 1953. U.S. Silver controls a land package now totaling approximately 18,000 acres in the heart of the Coeur d'Alene Mining District. U.S. Silver is focused on expanding its production from existing operations as well as exploring and developing its extensive Silver Valley holdings.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contacts: U.S. Silver Corporation Bruce Reid Chief Executive Officer (416) 848-0858 Website: www.us-silver.com

2008-05-26 23:04:14 0370128 MARKETWIRE