Hecla Posts Investor Presentation Regarding Its All-Cash CDN$1.80 Per Share Offer for U.S. Silver Corporation, Reminds Shareholders to Take Immediate Action
The Hecla Offer provides significant, immediate and certain value and
liquidity to U.S. Silver shareholders, but is conditional on the
proposed transaction with RX Gold & Silver NOT proceeding
U.S. Silver shareholders need to take action immediately and before
the August 2, 2012 proxy voting deadline
Investor presentation available for download at www.hecla-mining.com
Hecla Mining Company (NYSE:HL) ('Hecla?) has posted to its website (www.hecla-mining.com)
an investor presentation regarding its offers to acquire all of the
outstanding common shares of U.S. Silver Corporation (TSX:USA) ('U.S.
Silver?) for CDN$1.80 per common share in cash and to acquire each
outstanding common share purchase warrant for CDN$0.205 (its 'in the
money? amount based on such price per common share) (together, the
'Hecla Offer?).
More specifically, the presentation outlines the benefits of the Hecla
Offer, the risks associated with the proposed U.S. Silver-RX Gold and
Silver ('RX?) transaction and the steps that U.S. Silver shareholders
need to take to vote against the proposed RX transaction prior to the
voting deadline.
The Hecla Offer is conditional upon the proposed RX transaction not
proceeding or such transaction otherwise terminating; U.S. Silver
shareholders need to REVOKE proxies voted for the RX Proposal (if your
shares have been previously voted for it) and vote AGAINST it
immediately, before the August 2, 2012 proxy voting deadline.
Instructions for Beneficial U.S. Silver Shareholders
If you are a beneficial U.S. Silver Shareholder, call your investment
advisor, stockbroker, bank, trust company, other nominee or intermediary
through which you hold your U.S. Silver shares immediately and instruct
them to vote AGAINST the proposed RX transaction. Brokers and other
intermediaries each have their own voting instructions, which need to be
carefully followed to ensure that your instructions are counted. It is
also important to note that your broker or other intermediary may have a
deadline that falls ?before ?August 2, 2012. Therefore, it is
imperative that you act immediately.
Instructions for Registered U.S. Silver Shareholders
If you are voting your Shares by proxy, U.S. Silver′s Transfer Agent,
Valiant Trust Company, must receive your signed proxy by mail at 310-606
4 Street SW, Calgary, Alberta, T2P 9Z9, or by facsimile at
1-855-375-6916, ?not later than 5:00 p.m. (Toronto time) on
August 2, 2012.
How to Change your Vote
A Registered Shareholder may revoke a previously voted form of proxy at
any time before it has been exercised by completing a form of proxy that
is dated later than the form of proxy being revoked and mailing it to
Valiant Trust Company so that it is received before 5:00 p.m. (Toronto
time) on August 2, 2012. Hecla′s BLUE proxy is available at, www.hecla-mining.com.
U.S. Silver shareholders with questions about the Hecla Offer can also
contact Hecla′s information agent, MacKenzie Partners Inc., toll-free
within the U.S. and Canada at 1(800) 322-2885 or Call Collect: (212)
929-5500, by fax: (212) 929-0308 or email: ?proxy@mackenziepartners.com.
About Hecla Mining Company
Established in 1891, Hecla Mining Company is a leading low cash cost
silver producer in the U.S. The company has two operating mines and
exploration properties in four world-class silver mining districts in
the U.S. and Mexico.
Cautionary Statements
Statements made which are not historical facts, such as anticipated
payments, litigation outcome, production, sales of assets, exploration
results and plans, prospects and opportunities including reserves,
resources, and mineralization, costs, and prices or sales performance
are 'forward-looking statements' within the meaning of the Private
Securities Litigation Reform Act of 1995. Words such as 'may?, 'will?,
'should?, 'expects?, 'intends?, 'projects?, 'believes?, 'estimates?,
'targets?, 'anticipates? and similar expressions are used to identify
these forward-looking statements. Forward-looking statements involve a
number of risks and uncertainties that could cause actual results to
differ materially from those projected, anticipated, expected or
implied. These risks and uncertainties include, but are not limited to,
metals price volatility, volatility of metals production and costs,
environmental and litigation risks, operating risks, project development
risks, political and regulatory risks, labor issues, ability to raise
financing and exploration risks and results. Refer to the company's Form
10-K and 10-Q reports for a more detailed discussion of factors that may
impact expected future results. The company undertakes no obligation and
has no intention of updating forward-looking statements other than as
may be required by law.
Cautionary Statements to Investors on Reserves and Resources
The United States Securities and Exchange Commission permits mining
companies, in their filings with the SEC, to disclose only those mineral
deposits that a company can economically and legally extract or produce.
We use certain terms on this release, such as 'resource,? 'other
resources,? and 'mineralized materials? that the SEC guidelines strictly
prohibit us from including in our filings with the SEC. U.S. investors
are urged to consider closely the disclosure in our Form 10-K and Form
10-Q. You can review and obtain copies of these filings from the SEC's
website at ?www.sec.gov.
Contacts
U.S. Silver shareholders with questions about the Hecla Offer can
also contact Hecla′s information agent, MacKenzie Partners Inc.,
toll-free within the U.S. and Canada at 1(800) 322-2885 or Call Collect:
(212) 929-5500, by fax: (212) 929-0308 or email: ?proxy@mackenziepartners.com.
Hecla Mining Company
Sr. Vice President - CFO
Jim Sabala,
208-209-1255
Direct Main: 1-800-HECLA91 (1-800-432-5291)
hmc-info@hecla-mining.com
www.hecla-mining.com
