US Silver & Gold Inc. / USA (TSX)

Hallo,

seit dem Verkauf der Galena Mine & mehr durch Coeur d´Alène Mines an die (noch nicht ) börsengelistete U.S. Silver Corp zum 01.06.2006, könnte sich bald einiges tun im Silver Valley, Idaho.

Dies düfte das wichtigste Ereignis dort sein, nachdem Sterling die Sunshine Mine gekauft hat.

Infos folgen. Vorab mal ein guter Artikel dazu von David Bond, der das Silver Valley gut kennt & ebenso die Firmen dort, er "betreut" das Silver Valley journalistisch, müsste man wohl eher sagen. ...

Chef der U.S. Silver Corp ist John Ryan.
Ein Börsengang in Kanada, Toronto ist vorerst für Dezember 2006 angepeilt.

Im Artikel unten dazu mehr.

Artikel von Bond dazu.

Hier ein paar Ausschnitte daraus:

Zitat

A brief quarter century ago, Wallace High graduate and University of Idaho sophomore John Ryan was working up a sweat 3,000 feet underground at the Galena silver mine, earning his tuition and room and board for the upcoming school year at the School of Mines.

(...)

Last November, Ryan and several others formed a special acquisition company, or SPAC, listed it in London and raised $80 million. He then began to scout about for mining properties.

“I called (Coeur CFO) Jim Sabala in January and asked him, ‘What have you got for sale?’ He got back to me in a few days and said, ‘I want to sell Coeur Silver Valley.’” The problem was, the Silver Valley deal wasn’t big enough to meet an SEC requirement that at least one-half of the $80 million Ryan and his partners raised be spent on the first acquisition.

“We had to pass on it. But having passed on the deal, I went to our board and asked them if we could do our own deal on the Galena,” he said. The board acquiesced. Ryan found $3 million in London, $3 million in New York, and $16 million in Toronto to finance U.S. Silver and on June 1 the money changed hands. He plans to raise another $10-15 million to finance mill and underground rehabilitation at the trio of mines before taking U.S. Silver public on the Toronto Stock Exchange in December.

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Ist zwar noch ein wenig hin bis Dezember, aber die Zeit ist schneller um, als man denkt. Deshalb dieser Thread hier.
Es werden nun nach & nach dazu ohnehin mehr Meldungen rein tröpfeln.

Direkt betroffen sind auch über Verträge & Abkommen assoziierte Firmen wie American Silver Mines (ASLM), Silver Buckle Mines (SBUM) & noch einige weitere, vor allem wenn sie im Einzugsbereich des Silver Valley Gebietes um die Galena Mine herum liegen, also im Gebiet westlich & süd-westlich von Wallace. Deshalb wird die Sache sicher noch einiges an Folgen nach sich ziehen.

Diese Gegend wird von David Bond auch "Bulls Eye" genannt, wenn man noch die durch Sterling Mining kontrollierten Gebiete der Sunshine Mine und die Gebiete um die Sunshine Mine herum mit dazu zählt. Also z.B. die Gebiete der Merger Mines (MERG), Chester Mining (CHMN), Metropolitan Mine (MEMLA) u.a. ... .
Zu den beiden Letztgenannten gibts offenbar noch keine eigenen Thrads, aber es finden sich auch grobe Infos im Thread zum Silver Valley, Idaho.

Gruss,
gutso

Hallo Edel Man,

die U.S. Silver Corp ist noch nicht börsengelistet, aber wenn Du Ryan anrufst, evtl. kannst Du Dich ja noch beteiligen, bevor im Dezember in Toronto die Sektorken knallen.

Grüsse,
gutso

Stimmt, Du warst es, nicht Tschonko mache mich nachher mal auf die Suche, hab grad auch wenig Zeit.
PN kommt auch noch an Dich, aber auch erst nachher, ... hier gehts zu wie im Bienenstock ... .

Gruss,
gutso

Hallo Edel Man,

dann hab ich das falsch in Erinnerung gehabt, ja.
Sehr gut, dann setze ich die folgenden Links noch dazu.

Ich hatte es nämlich erst einen Monat später, ab Anfang Mai richtig gerafft, was da vor sich geht: Spokesmanreview zum Verkauf der Galena.
Und mein eigenes Posting mit Gedanken dazu von Mitte Mai zur U.S. Silver Corp und den Folgen für die Minen im Umfeld.

& weil es das schlussendlich abrundet, wegen der (hier öfter schon diskutierten) ernsten Probleme der Minen dort - - die letztlich die Coeur d´Alène Mines zum Weggang veranlasst haben - - den ausführlichen Thread von LuckyFriday von Anfang des Jahres zum Einfluss der EPA (US-Umweltbehörde) auf den Tiefschlaf der Idaho Minen im Silver Valley.

Grüsse,
gutso

PPS: Aus gegebem Anlass, nochmal das Bild vom "Dialog im Silver Valley"

Zitat

Original von Tschonko
(...)
Hab mich auch gefragt: "Wie machen das der edel u. der gutso?"

Grüße
tschonko

Hallo Tschonko gmoin!

genau das ist die interessante Sache: den Thread von Lucky von Anfang des Jahres hatte ich bisher noch gar nicht einmal gelesen.
Damals bin ich nach 2 Jahren Abstinenz erst langsam wieder ins Forum gekommen.
Deshalb, weil mir jetzt auffiel, wie wichtig & wertvoll sowas sein könnte, habe ich das Ding auch nochmal verlinkt.

Noch so einer: Der Thread von LuckyFriday über den Silver Summit 2005 in Idaho. Den müsste man eigentlich direkt vor dem über die Probleme mit der EPA lesen, weil Lucky das Thema ja dort erst so richtig kennen & "lieben" lernte. ...

Was man da so liest, Lucky auf Englisch. ts.
Und Eldo (ist doch Aladin, oder?) hat ja die Merger im Depot, oder hatte sie mal, soso! ... ts

ts ts ts

Irgendwann müsste man sie doch mal alle beisammen haben, die Threads zum Thema.

Ich versuche hin & wieder alte Sachen zu verlinken. & mittlerweilen fange ich sogar an, einiges hier vom Forum auszudrucken (nicht den Thai-Thread, nein. ).

Grüsse,
gutso

PPS: Werde mal die paar Links von hier, die im Gesamt-Silvervalley Thread ja auch sonst fehlen, dort noch mit rein setzen.
So bekommt man es schon irgendwie zusammen. ...

Hallo Lucky,

Du hast die zweite Jahreshälfte 2005 so viel mit angestossen, mit den anderen zusammen, Ihr habt die Dinge ziemlich am Anfang schon auf so gutem Niveau diskutiert, dass es einfach ein grosser Fehler wäre das nicht nochmal genau zu lesen. ...
Bin ja erst später dazu gestossen, für mich war das jetzt im Nachhinein eine echte Bereicherung, gerade bezüglich des EPA-Themas nochmal alles nachlesen zu können.
Sollte man noch öfter machen, wenn einer erinnert, dass da schon mal was gesagt wurde.

Was glaubst Du, wie lustig sich das hier alles erst in zwei Jahren lesen wird.

Gruss,
gutso

PPS: Soziale Ader hin oder her, die Scheisse ist, dass ich vermutlich den Silver Summit knicken kann. PN dazu kommt jetzt ... .

Hallo Kollegen,

Tschonko hat im Sammelthread zum Silver Valley Idaho eben interessante News geposted.

Unter anderem, dass das CAMP Projekt (einst New Jersey Mining & Sterling Mining (SRLM)http://www.goldseitenforum.de/…to=lastpost&threadid=1414 Kooperation mit Merger Mines) nun nach heute veröffentlichten Infos von Sterling Mining eine Kooperation von Merger Mines, U.S. Silver Corp. & Sterling Mining (SRLM)http://www.goldseitenforum.de/…to=lastpost&threadid=1414 ist.

New Jersey Mining ist also offenbar draussen, aus dem CAMP Projekt.
Es ist nun so, dass die zwei neuen Grossen, US Silver Corp & Sterling Mining, im direkt zwischen ihren Properties liegenden, jeweils angrenzenden Gebiet kooperieren!
Ich suche mal, aber die Meldung scheint so zu stimmen.

Hier der Link zur Merger Mines Homepage, da sind sie aber noch nicht so fix mit der Info )
Ist ja auch noch ein Pink Sheet, da sind die also gaaanz cool langsam mit den neuesten Infos ... .

Grüsse,
gutso

Zitat

The CAMP Project is now a joint venture of Sterling Mining Co., Merger Mines (OTC:MERG - News) and U.S. Silver
Corporation as operator. It is in the heart of the Coeur d'Alene Mining District, located between Coeur d'Alene
Mines' and Sterling Mining Company's properties. The interest was acquired for a $120,000 cash payment and provides
Sterling a land ownership position and a 7% Net profits interest. Sterling already had an interest in the property,
which can be accessed via Sterling's Silver Summit tunnel. This acquisition enlarges Sterling's interest in the CAMP
Project property.
"Our primary current exploration and development work is focused on our Sunshine Mine project in the 'Silver Belt'
of the Coeur d'Alene Mining District in Idaho," stated Sterling's President, Ray De Motte. "Sterling has continually
sought to expand its land position and exploration potential in this historic mining district through ownership and
joint venture. The CAMP project acquisition in particular strengthens our interest in the area."

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Hallo Leute,

es gibt inzwischen Hintergrundinfos zur US Silver Corp & zu John P. Ryan, deren CEO, - geschickt gemacht, nämlich voraussichtlich kostenlos über Wikipedia ... .

http://www.answers.com/topic/us-silver-corporation

Zitat

US Silver Corporation
(...)

US Silver Corporation (USSC)
Main article: US Silver Corporation

(...)

US Silver Corporation is a mining company based in Wallace Idaho near Coeur d'Alene, Idaho. The CEO of the Company is John P. Ryan and the President is Mark Hartman.

In 2006 USSC purchased the Coeur, Caladay, and Galena mines from Coeur d' Alene Mines Corporation “Coeur” (NYSE:CDE.) The USSC property covers 10,931 acres over an area about 11 miles long east to west and 3 miles wide. The property contains two mines and one exploration shaft. The operating Galena mine is located near the center of the property position, the Coeur mine which is on care and maintenance is about 1.5 miles west of the Galena mine and the Caladay exploration shaft approximately 2 miles east of the Galena.

History of the District

The Coeur d’Alene Mining District is one of the pre-eminent silver, lead and zinc producing areas in the world, located near the base of the panhandle of northern Idaho, and has produced over 1 billion ounces of silver. Spokane, Washington is approximately 75 miles to the west and Missoula, Montana is approximately 110 miles to the east and extends for over 20 miles in a northwest-southeast direction.

Galena Mine

The Galena mine has a long history dating back to 1887 but the modern history and mining commenced by ASARCO in 1953 in an effort to explore and exploit outcrops of silver-lead ore. At that time a shaft was sunk to the 3000 level (3000 feet below the shaft collar) and lateral or level drifts were excavated on the 2800 and 3000 levels. The level drifts accessed down dip projections of the silver-lead ore from above. The development on these levels included, drifting on ore and excavation of raises between the 2800 and 3000 levels and some diamond drilling. The “lead ore” was ready for production in 1953 when a drift crew on the east end of the 3000 level exposed a wide siderite-tetrahedrite-chalcopyrite vein that assayed over 50 ounces per ton silver. ASARCO abandoned the silver-lead development and focused on this new high grade discovery. The new discovery was called the Silver vein and has been the largest vein found at the Galena to date with estimated production of over 100 million ounces of silver at averages grades of over 20 ounces per ton. From 1953 until present, all exploration, development and production has been focused on the tetrahedrite silver-copper ores.

Because ASARCO focused its efforts in 1953 on the silver-copper veins no systematic exploration program was ever conducted at the Galena for silver-lead ore until USSC took over in 2006. Total production since 1953 is over 160 million ounces of silver, 116 million pounds of copper and 22.0 million pounds of lead from 7.0 million tons of ore. Average grade of the silver-copper ore has been 22.89 ounces per ton of silver and 0.83% copper. Average grade of the silver-lead ore has been 8.18 ounces silver and 8.8% lead per ton of ore. The mine is currently producing silver-copper ore at a rate of approximately 625 tons per day. Ore grades are approximately 24.0 ounces per ton silver and 0.76% copper.

The present day Galena Mine is an underground silver-copper mine and is served by two vertical shafts. The No. 3 shaft is the primary production shaft and is 5,800 feet deep. The Galena shaft primarily provides utility access for water, electrical power and sand backfill for underground operations down to the 2,400 level. The Galena mine also has an operating 1,100 ton per day floatation mill, maintenance shop, carpenters shop office and dry facilities. The mine utilizes conventional and mechanized cut and fill mining methods with sand backfill to extract ore from the high grade silver-copper vein deposits that constitute the majority of the ore reserves. Silver and copper are recovered by a flotation mill that produces a silver rich concentrate which is sold to third-party smelters in Canada. Waste material from the milling process is deposited in a tailings pond located approximately two miles from the minesite. The tailings containment pond, which is expanded on an as needed basis, has capacity for approximately eight additional years at current production rates.

Coeur Mine

The Coeur Mine is an underground silver mine located adjacent to the Galena Mine. The Coeur Mine operated until mid-1998 when the property was placed on care and maintenance. There has been no mining activity at the Coeur mine since that time. The Coeur Mine is connected to the Galena Mine, which allows future discoveries at either mine to be developed and processed at either facility. This connection is currently being utilized to provide ventilation and secondary access to the Galena Mine. The Coeur mine produced continuously from 1969 through 1991 and again from 1996 through 1997. The total production was 39 million ounces of silver and 33 million pounds of copper from 2.4 million tons of ore. Average ore grades were 16.0 ounces per ton silver and 0.68% copper.

This mine is serviced by an operational three compartment shaft with a double drum hoist that goes to 4,000 feet below the surface. The Coeur mine also has a 600 ton per day floatation mill, maintenance shop, office and dry facility.

Caladay Property

The Caladay property adjoins the Galena Mine. Prior to its acquisition by Coeur in 1991, approximately $32.5 million was expended on the property to construct surface facilities, a 5,101 ft. deep shaft and associated underground workings to explore the property. Similar geologic conditions which exist at the Galena mine extend into Caladay below the level of the current workings. The facilities are used to benefit the Galena Mine operations by providing additional ventilation.

Mineralization

Ore deposits of the Coeur d’Alene Mining District and USSC are hosted by slightly metamorphosed Precambrian sedimentary rocks of the Belt Supergroup. Belt strata are composed primarily of fine-grained quartz and original clay (now metamorphosed to fine-grained white mica, or sericite). Although the composition of these metasediments varies widely, three major rock types are generally recognized. These rock type definitions were first applied in the district to the Revett Formation (White and Wilson, 1982) but have since been used in describing other Belt formations as well. The rock types are; vitreous quartzite, sericitic quartzite, and siltite-argillite.

The ore bodies at USSC’s property occur as steeply dipping fissure filling veins. The veins cut through the rocks of the Revett Formation and are found along major fracture systems and major faults. The veins generally strike east west and northeast southwest and range in thickness from a few inches to over fifteen feet. Two different ore bearing sulfide assemblages are found at the Galena, a silver-copper ore and a silver-lead ore. Grades of the silver-copper veins range from a few ounces of silver to over a thousand ounces of silver per ton and since 1953 have averaged over 22 ounces per ton. Copper grades range from tenths of a percent to over two percent and since 1953 have averaged 0.83 percent per ton. Grades of the silver-lead ores average approximately 13 ounces of silver and 16% lead per ton.

The cross-section shows the Revett Fm in the in core of the Big Creek anticline and the position of the productive veins discovered to date on the North limb of the anticline. The beds dip steeply to the north and the faults dip steeply to the south. On a local scale the Revett Fm consists of interbeds of hard (brittle) and soft (ductile) units, the interbed can be from inches thick to over a 100 feet thick.

Exploration Targeting

Historic exploration at the Galena and Coeur mines was carried out by following the “trend” of the veins with drifting and diamond drilling. This method was successful but it is believed that it did not allow for recognition of the larger picture of the geologic interplay of faults, veins, and stratigraphy. One obvious effect of the trend based exploration was that the underground workings at the Galena mine were developed in NW-SE direction from the central shafts. The directional development has caused large prospective areas of the Galena and Coeur mines to remain unexplored. One such area is the hanging wall of the Polaris fault. The single largest and most productive vein in the Galena and Coeur mines is the Galena’s Silver vein which has produced over 25 million ounces of silver and is located in the hanging wall of the Polaris fault. The trend based exploration caused the workings to be developed in northwesterly trend because of numerous secondary ore vein bearing veins in the footwall of the Silver vein. This development direction caused the workings to cross into the footwall of the Polaris leaving the entire hanging wall of the Polaris fault virtually unexplored for about 4 miles from the eastern side of the Galena to the boundary with the Sunshine Mine.

Structural control on vein mineralization has long been recognized in the Coeur d’Alene District. However, using these observations in developing predictive exploration models has proven difficult. With the advent of 3-D modeling software the integration of structure, stratigraphy and geochemistry into a three-dimensional model for use in exploration has been facilitated and is being carried out at Coeur Silver Valley.

The basis of the current structural work at the Galena is that the emplacement of the vein arrays is structurally controlled. There are secondary controls imposed by stratigraphy and geochemistry but structure is considered the most dominant because the movement of fluid required for vein and mineral precipitation requires the presence of active structures. A geometric model of the Coeur-Galena was constructed in GEMCOM software, which has allowed for examination of the faults and veins and their relationships to one another.

(...)

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________________________________

Und zum CEO von U.S. Silver Corp., John P. Ryan gibt es mittlerweilen auch Hintergrundinfos. Wenigstens ein paar.

http://www.answers.com/topic/john-p-ryan

Zitat

John P. Ryan

(...)

CEO: April, 2006 – Present: US Silver Corporation

Director: July, 2006 – Present:Consolidated Goldfields (CDGF.PK)

CLO (Chief Legal Officer): January, 2006 – Present: Platinum Diversified
Mining (PDM:AIM)

CFO: March, 2006 – Present: Pangea Pictures Corporation (ob das wirklich er ist? :D)

Corporate Secretary: November 2005 – March, 2006

EVP, CFO: December 2000 October, 2005: Cadence Resources Corporation which is now Aurora Oil & Gas Corp. (AOG:AMEX)

EVP, CFO: April 2004 – Present: High Plains Uranium (HPU.TO)

CFO: August 2001 – Present: Trend Mining Company (TRDM.OB)

EVP, CFO: July 2000- February, 2003: Western Goldfields, Inc. (WGDF.OB)

EVP, CFO: August 1998- December, 2000

VP of Corporate Development: April, 1995 – August, 1998: Royal Silver Mines, Inc.

High Plains Uranium Link http://www.hpur.com/company/board.php

Zoom Info http://www.zoominfo.com/people/Ryan_John_800181.aspx

Aurora Oil & Gas http://www.auroraogc.com/aboutAurora/aboutus.php

(...)

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_________________________

Lustige Anekdote dazu (denn so intelligent sind nämlich Enzyklopädien, wenn sie assozioziativ werden): John Ryan

Mentioned In (...)

It Lives Again (1978 Horror Film)

Passt mir irgendwie, ausgezeichnet sogar, zur voraussichtlichen Zukunft der Galena Mine im Silver Valley ... .

Grüsse,
gutso

Hallo Leute,

da es ein paar neue Hintergründe zum Silver Valley gibt, hier der Link in den Silver Valley Sammelthread zu dem betreffenden Posting.

Darin finden sich viele Bezüge auch zu den anderen Minen im Gebiet des "Bulls Eye" südlich von Osburn.
Das Verhältnis der Sterling Mining zur demnächst den Börsengang planenden U.S. Silver Corp. ist in dem Posting u.a. auch ein Thema.
Es wird demnach wohl eher Konkurrenz als Kooperation geben, zwischen den beiden Gesellschaften, in den kommenden Monaten & evtl. auch Jahren. ...

Grüsse,
gutso

Hier der Link zu Eldos Posting.

Interessante Konstruktion, wie sie den Börsengang machen, - erscheint mir ähnlich, wie damals bei Silver Wheaton.

Tschonko hatte da im Silver Valley Thread gleich eine wichtige Anmerkung als Korretur:

Zitat

Original von Tschonko
(...)
Muss so heißen: CHRYSALIS CAPITAL III CORPORATI (CYX-P.V)
Das wird dann wohl die US Silver werden?
Schlau, es auf diese Art zu machen.
Jetzt wird´s bald richtig spannend im Valley.
(...)
Grüße
Tschonko

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Gruss,
gutso

Hier das betreffende Zitat aus dem Bond Artikel:

Zitat

(...)
We started the year with an upstart Wallace High School grad, John Ryan, who formed up U.S. Silver Corporation to acquire the Coeur, Caladay and Galena assets – three mines and two mills – from the formerly great Coeur d'Alene Mines Corp. Acquiring Coeur's three Idaho properties made perfect sense for a guy able to raise more than $20 million: $15 million for the purchase from Coeur, and the balance to explore, develop and make infrastructure improvements.

Says Ryan, "The Silver Valley has been on its death bed many, many times, going back to the early days" and it managed to bounce back, said Ryan. "It's a good, old camp – and there's no shortage of ore." U.S. Silver is in the process of merging with Chryalis Capital (CYX.P-V) and will come out shortly with a new trading symbol.

Like Hecla, US Silver undertook an extensive geologic review of its land package around Galena, having first throttled production back from 600 st/day to 200 st/day and reducing its workforce by nearly 50percent.

The company is now ready to ramp production back up to 800 tonnes per day, utilising both the Coeur and Galena mills in 2007 for ore recovery – Galena for silver-copper tetrahedrite ores and the currently-idle Coeur mill for lead-silver sulfide material, according to Ryan. US Silver intends to spend $4 million to $5 million in 2007 on exploration and boost silver production.

"We're just marching right along on our business plan; we expect silver production to be about 3.2 million oz in 2007," Ryan said. "I feel confident we will be successful, and we're in the Silver Valley for the long haul.".
(...)

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Und hier noch die Links & Infos des Stockhouse Board:

Zitat

CHRYSALIS CAPITAL III CP



CHRYSALIS CAPITAL III CORPORATION PROVIDES FURTHER DETAILS ON THE ACQUISITION OF U.S. SILVER CORPORATION AND COMPLETION OF U.S.$6.9 MILLION PRIVATE PLACEMENT BY U.S. SILVER CORPORATION
(Not for Distribution to the United States Newswire
12/7/2006

Toronto, ON December 07, 2006

FSC / Press Release

CHRYSALIS CAPITAL III CORPORATION PROVIDES FURTHER DETAILS ON THE ACQUISITION OF
U.S. SILVER CORPORATION AND COMPLETION OF U.S.$6.9 MILLION PRIVATE PLACEMENT BY U.S. SILVER CORPORATION

(Not for Distribution to the United States Newswire Services or for Dissemination in the United States)

(See the important legends at the end of this Press Release)

Toronto, Ontario CANADA, December 07, 2006 /FSC/ - Chrysalis Capital III Corporation (TSX - VX: CYX.P), ("Chrysalis") is pleased to provide further details on the proposed qualifying transaction (the "Proposed Transaction") with U.S. Silver Corporation ("U.S. Silver"), previously announced on October 11, 2006.

Chrysalis is also pleased to announce that U.S. Silver completed on December 5, 2006 a private placement of U.S.$6,869,500 in convertible debentures, as further described in this press release. A prior private placement was completed in June 2006, in which U.S. Silver raised U.S.$20,793,080, a significant portion of which was used to acquire its mining properties in the Coeur d'Alene Mining District in Idaho. In total, U.S. Silver has raised in these two recent private placements U.S.$27.7 million, or approximately Cdn$31.2 million, for the mineral activities discussed in this press release.

BACKGROUND

On October 10, 2006, Chrysalis entered into an agreement (the "Acquisition Agreement") with U.S. Silver and certain U.S. Silver principal stockholders pursuant to which Chrysalis will acquire all of the issued and outstanding shares of U.S. Silver common stock by way of a merger (the "Merger") in which Chrysalis Capital III USA Corporation, a Delaware corporation that is wholly-owned by Chrysalis (the "Merger Sub"), will merge with and into U.S. Silver, with U.S. Silver being the surviving entity. As a result of the Merger, each issued and outstanding share of common stock of U.S. Silver will be converted into the right to receive three and one-tenth (3.1) common shares of Chrysalis, and each outstanding share of the Merger Sub will be converted into one share of U.S. Silver; and thereby U.S. Silver will become a wholly-owned subsidiary of Chrysalis.

After completion of the Proposed Transaction, Chrysalis, through U.S. Silver and U.S. Silver's wholly-owned operating subsidiary, will be involved in the mining industry, as further described below in this press release under the caption "The Properties Owned and Operated by U.S. Silver".

On December 6, 2006 U.S. Silver stockholders held a special meeting at which they approved the Proposed Transaction. Completion of the Proposed Transaction is subject to compliance with all necessary regulatory approvals and certain other terms and conditions. When completed, the Proposed Transaction will constitute Chrysalis' "qualifying transaction" pursuant to the policies of the TSX Venture Exchange (the "Exchange").

THE QUALIFYING TRANSACTION

As consideration for the acquisition of all of the outstanding shares of U.S. Silver common stock pursuant to the Merger, Chrysalis will issue three and one-tenth (3.1) common shares for each one (1) share of U.S. Silver common stock issued and outstanding immediately prior to the Merger. Immediately prior to the closing of the Qualifying Transaction, there will be 42,546,821 shares of U.S. Silver common stock issued and outstanding, including the shares issuable in respect of certain outstanding debt securities which will be automatically converted into shares of common stock prior to the closing. These shares of U.S. Silver common stock will automatically be converted into an aggregate of 131,895,145 common shares of Chrysalis. Thus, when combined with the 10,000,000 common shares of Chrysalis that are currently issued and outstanding, upon completion of the Proposed Transaction there will be an aggregate of 141,895,145 common shares of Chrysalis issued and outstanding.

There are also U.S. Silver warrants outstanding to purchase an aggregate of 17,318,145 shares of U.S. Silver common stock. The Acquisition Agreement provides that, upon completion of the Proposed Transaction, any such outstanding warrant, if the holder so elects, will be exchanged and replaced with a warrant issued by Chrysalis for the right to purchase a number of Chrsyalis common shares equal to the product of (i) 3.1 and (ii) the number of shares issuable upon exercise of the U.S. Silver warrant being exchanged. The aggregate exercise price of any new warrant issued by Chrysalis, for all of the shares issuable upon exercise thereof, will be the same as the aggregate exercise price of the U.S. Silver warrant exchanged therefor. Any U.S. Silver warrant that is not exchanged will continue to be outstanding after the Proposed Transaction and will by its terms thereafter represent the right to purchase a number of Chrsyalis common shares equal to the product of (i) 3.1 and (ii) the number of shares issuable upon exercise of the U.S. Silver warrant prior to the Proposed Transaction, at the same aggregate exercise price as was in effect immediately prior to the Merger.

From and after the closing of the Proposed Transaction, the U.S. Silver warrants will represent the right to acquire an aggregate of 53,686,411 Chrysalis common shares. Accordingly, on a fully diluted basis, an aggregate of up to 185,581,556 Chrysalis common shares may be issued to holders of securities of U.S. Silver. Thus, when combined with the 10,000,000 common shares of Chrysalis that are currently issued and outstanding, there are outstanding 600,000 Chrysalis agent compensation options and 1,100,000 Chrysalis stock options and up to an additional 13,189,514 Chrysalis stock options that may be granted under Chrysalis' stock option plan following completion of the Proposed Transaction, on a fully diluted basis, there will be up to 209,871,070 Chrysalis common shares outstanding.

Chrysalis intends to grant on closing of the Proposed Transaction, up to 13,189,514 Chrysalis stock options exercisable to acquire Chrysalis common shares at a price of $0.40 per share, representing 10% of the number of Chrysalis common shares to be issued on closing of the Proposed Transaction, subject to such closing and board approval of the option grants. The grant of such stock options is also subject to TSXV approval.

THE PROPERTIES OWNED AND OPERATED BY U.S. SILVER

On June 1, 2006, U.S. Silver acquired Coeur Silver Valley, Inc., a Delaware corporation, from Coeur d'Alene Mines Corporation. Subsequent to that acquisition, U.S. Silver renamed Coeur Silver Valley, Inc. as U.S. Silver-Idaho, Inc. U.S. Silver operates the Properties (defined herein) through this wholly-owned subsidiary.

The Properties consist of the Galena underground silver mine (the "Galena Mine") as well two adjacent properties known as the Coeur Mine and Caladay Property, which are both located near the Galena Mine, and also certain other contiguous mining properties in the Coeur d'Alene Mining District (collectively the "Properties").

Information of a technical nature in this press release respecting the Properties is derived from the "Technical Report, Galena Mine Project, Idaho, U.S.A." dated November 17, 2006 by Chlumsky Ambrust & Meyer LLC ("CAM"). The principal author of such Technical Report, Fred Barnard, Ph.D., Professional Geologist, is a "qualified person" and an "independent person" each within the meaning of National Instrument 43-101 of the Canadian Securities Administrators.

The Properties are located in an area approximately 9 miles long in a northwest-to-southeast direction, which area is approximately 2 miles wide. The shaft of the Galena Mine is located near the center of the property, at 47.48 degrees North latitude and 115.97 degrees West longitude.

The Properties lie in Shoshone County in Northern Idaho, U.S.A., between the towns of Osburn and Wallace, about a mile south of Interstate Highway 90. Spokane, Washington is approximately 75 miles by highway to the west of property, while Missoula, Montana is approximately 100 miles by highway to the east.

The Properties and the communities in the region are long-established and have good infrastructure, including electric grid power, paved roads and piped water supplies. Public highway transportation is well developed in the area, but railroad service in the district was discontinued several years ago. The nearest railheads are now in Spokane, Washington, approximately 75 miles to the west, and in Superior, Montana, approximately 60 miles to the east. U.S. Silver utilizes a rail terminal in Butte, Montana for shipping a portion of its concentrates to Quebec, because of better rail loading facilities than at Superior, Montana.

The Properties are within what is generally called the Bitterroot Mountains, a part of the Northern Rocky Mountains. Ridge crests and the peaks along them range in altitude from 6,000 to 7,000 feet above mean sea level.

Mineral activity in the Coeur d'Alene District began in the mid-1800's with the discovery of placer gold. Activity was sporadic until 1883, when larger placers were developed and intensive prospecting for lodes began. Lode mining for silver began in 1884. The nucleus of what is now the Galena Mine was first developed in 1887. This holding was gradually expanded by acquisition of several adjacent properties. The mine was successively operated by the Wm. Clark interests from Butte, (1887-1916), the Day interests (1917-1920), the Callahan interests (1920-47), ASARCO (1947-1995), Silver Valley Resources, a joint venture of ASARCO and Coeur d'Alene Mines (1995-1999), Coeur d'Alene Mines (1999-2006), and U.S. Silver (from June 1, 2006). Since 1999, the operating company for the Galena Mine and the adjacent properties has been Coeur Silver Valley, Inc. (recently renamed U.S. Silver-Idaho, Inc. as noted above).

The Galena Mine has been in production since 1887, with closures during 1931-53 and 1992-1997 due to low silver prices. The defining event in the Galena Mine's history occurred in February 1953, when ASARCO cut a silver vein, the first of the tetrahedrite-dominated veins, on the 3000-foot level. Prior to that, all production had been from veins containing argentiferous galena. From 1953 to year-end 2005, the Galena Mine has produced over 160 million ounces of silver, 116 million pounds of copper, and 22.0 million pounds of lead, from 7.0 million tons of ore. The average grade of the silver-copper ore was 22.89 ounces per ton of silver and 0.83 percent copper, while the silver-lead ore averaged 8.18 ounces silver and 8.8 percent lead per ton of ore.

The Galena Mine is currently producing silver-copper ore (tetrahedrite-bearing ore) at a rate of approximately 400 tons per day. Ore grades are approximately 17.4 ounces per ton silver and 0.7 percent copper, with a small gold credit. Silver-lead ore (galena-bearing) has not been systematically mined since 2001, and neither smelter currently pays for lead in concentrates.

U.S. Silver estimates that it will produce approximately 3.3 million ounces of silver during 2007, and that before the end of 2007 its production rate of silver-copper ore will increase to approximately 650 tons per day. However, there can be no assurance that U.S. Silver will actually achieve these estimates.

The Caladay Property lies just southeast of the Galena Mine and was first explored underground in the 1970's, and was acquired by Coeur Silver Valley, Inc. (then owned by Coeur d'Alene Mines Corporation) in the 1980's. Although silver-lead mineralization was identified, the Caladay Property has never been in production. The Caladay Property and Galena Mine exploration drifts are connected at the 4900 Level, and the Caladay Property shaft is used for exhaust ventilation by the Galena Mine operation. The Caladay Property is now owned U.S. Silver. No reserves or resources are carried on the Caladay Property.

The Coeur Mine is located two miles northwest of the Galena Mine, and produced during 1969-1991 and 1996-1998. Since 1998 the Coeur Mine has been on care and maintenance. The production was 39 million ounces of silver and 33 million pounds of copper from 2.4 million tons of ore. Average ore grades were 16.6 ounces per ton silver and 0.72 percent copper.

The Galena Mine and Coeur Mine contain 118 named or numbered veins containing reported resources of silver mineralization.

The total mineral resources and reserves of the U.S. Silver Properties as of December 31, 2005 were as follows:

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------------------------------------------------------------------------- Ag Grade ContainedSilver-Copper Tons oz/t % cu Ounces-------------------------------------------------------------------------1. Proven and Probable Reserves (included in the amounts shown in the "Resources" (line #2. below) 394,246 25.81 0.86 10,173,929-------------------------------------------------------------------------2. Measured & Indicated Resources 1,614,049 15.87 0.58 25,620,1633. Inferred Resources 558,379 16.90 0.73 9,435,387------------------------------------------------------------------------- Ag Grade ContainedSilver-Lead Tons oz/t % pb Ounces-------------------------------------------------------------------------4. Measured & Indicated Resources 316,548 9.13 10.30 2,889,9625. Inferred Resources 541,075 5.01 5.70 2,713,925-------------------------------------------------------------------------6. Total Proven and Probable Reserves and Measured and Indicated 1,930,597 14.76 n/a 28,510,125Resources -------------------------------------------------------------------------7. Total Inferred Resources 1,099,454 11.05 n/a 12,149,312-------------------------------------------------------------------------
-****-

U.S. Silver's exploration budget for 2007 calls for estimated total expenditures of approximately U.S.$3,550,000, including 74,000 feet of exploration drilling at an estimated per-foot cost of U.S.$20 (U.S.$1,480,000 in total), 7,500 feet of exploration drifting (i.e., mining by means of opening a horizontal tunnel) at an estimated per-foot cost of U.S.$250 (U.S.$1,875,000 in total), as well as geology and assay costs. In addition, U.S. Silver intends to improve certain elements of its mining operations infrastructure during 2007, including certain rehabilitation actions with respect to the Galena Mine shaft, and certain upgrades to the Coeur and Galena mill facilities
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hier die Fortsetzung:

Zitat

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INFORMATION ON U.S. SILVER CORPORATION

U.S. Silver was incorporated on April 7, 2006 under the General Corporation Law of the State of Delaware. U.S. Silver acquired the Properties by means of the purchase of the outstanding capital stock of U.S. Silver-Idaho, Inc. from Coeur d'Alene Mines Corporation on June 1, 2006 for cash consideration of U.S.$15,000,000. The Properties continue to be held directly by U.S. Silver-Idaho, Inc., which is now a wholly-owned subsidiary of U.S. Silver.

Acquisition of U.S. Silver-Idaho, Inc. (formerly Coeur Silver Valley, Inc.)

On April 9, 2006, U.S. Silver entered into a stock purchase agreement by and among U.S. Silver, as the buyer, Coeur d'Alene Mines Corporation, as the seller, and Coeur Silver Valley, Inc., providing for the purchase of all of the issued and outstanding shares of capital stock of Coeur Silver Valley, Inc. The acquisition of Coeur Silver Valley, Inc. was a fully arm's length transaction of U.S. Silver.

The stock purchase agreement for the purchase of Coeur Silver Valley, Inc. required U.S. Silver to pay an aggregate purchase price of U.S.$15,000,000 (subject to adjustment as provided in the following paragraph), of which U.S.$1,000,000 was required to be paid prior to the closing as an initial down payment. In order to pay the remaining U.S.$14,000,000 balance of the purchase price, U.S. Silver completed a private placement (the "June 2006 Private Placement") of an aggregate of 25,991,350 U.S. Silver units for an aggregate purchase price of U.S.$20,793,080, or a per unit purchase price of U.S.$0.80. Each unit consisted of one (1) share of U.S. Silver common stock and one-half of one U.S. Silver warrant (with each whole U.S. Silver warrant entitling the holder thereof to purchase one (1) share of U.S. Silver common stock). Funds obtained from the June 2006 Private Placement in excess of the amount needed for the acquisition of Coeur Silver Valley, Inc. were used to repay certain initial indebtedness incurred for operating expenses and to pay the initial U.S.$1,000,000 down payment, and for general corporate and operating purposes.

Under a letter agreement dated July 28, 2006, U.S. Silver and the seller agreed to a closing net working capital adjustment pursuant to which U.S. Silver paid to the seller an amount of cash equal to U.S.$1,068,545, plus interest in the amount of U.S.$14,059.41, as additional purchase price.

The securities purchase agreement governing the terms of the June 2006 Private Placement requires U.S. Silver to undertake certain registration obligations with respect to the securities issued in the June 2006 Private Placement (a "Liquidity Event"). U.S. Silver will have no further registration obligations with respect to these securities provided that the Proposed Transaction is completed and the shares issued by Chrysalis to the former stockholders of U.S. Silver are listed for trading on the Exchange, failing which U.S. Silver will be required to issue additional shares of U.S. Silver common stock to the investors in the June 2006 Private Placement.

As originally provided, a Liquidity Event was the registration of the shares of U.S. Silver common stock issued in the June 2006 Private Placement and the listing of those shares on a recognized stock exchange. The requisite majority of investors in the June 2006 Private Placement have agreed to amend the definition of Liquidity Event to also include a transaction (such as the Proposed Transaction) which results in the outstanding U.S. Silver common stock being exchanged for a listed class of shares of another issuer.

During the fourth quarter of 2006, U.S. Silver completed a private placement pursuant to which it issued (at par) to certain accredited investors an aggregate of U.S.$6,869,500 principal amount of U.S. Silver's unsecured 8% convertible debentures due December 31, 2009. These convertible debentures will be automatically converted, without any action on the part of the holders thereof, into an aggregate of 6,245,000 shares of U.S. Silver common stock, which, in turn, will be converted into an aggregate of 19,359,500 Chrysalis common shares as a result of the Proposed Transaction.

SELECTED FINANCIAL STATEMENT INFORMATION

The following tables present selected financial statement information on the financial condition and results of operations for Chrysalis and U.S. Silver as consolidated with its wholly-owned subsidiary, U.S. Silver-Idaho, Inc., as well as revenue and income information for U.S. Silver-Idaho, Inc. Such information is derived from the audited financial statements of U.S. Silver-Idaho, Inc. for the period ending June 30, 2006, audited financial statements of U.S. Silver for the period ended September 30, 2006, and the unaudited financial statements of Chrysalis for the period ended September 30, 2006. The information provided herein is subject to such financial statements and the reader should closely review such financial statements, which have been prepared in accordance with Canadian GAAP, when Chrysalis files its filing statement on SEDAR with respect to the Proposed Transaction. The Chrysalis financial statements have been filed on SEDAR.

-***-
---------------------------------------------------------------------------- U.S. Silver Corporation Chrysalis Capital III Corporation September 30, 2006 September 30, 2006 (unaudited) (unaudited) ----------------------------------------------------------------------------Current Assets $6,320,546 $1,420,968----------------------------------------------------------------------------Total Assets $29,549,501 $1,420,968----------------------------------------------------------------------------Current Liabilities $1,968,799 $40,159----------------------------------------------------------------------------Total Liabilities $11,748,488 $40,159----------------------------------------------------------------------------Note: All figures are represented in Canadian dollars. U.S Silver figures have converted from U.S. dollars to Canadian dollars at an exchange rate of U.S. $1.00=CDN $1.1293.-***------------------------------------------------ U.S. Silver - Idaho, Inc. Six Months Ended June 30, 2006 (audited) -----------------------------------------------Revenue $11,045,509-----------------------------------------------Operating Income $1,093,192-----------------------------------------------Net Income $1,072,204------------------------------------------------****-Note: All figures are represented in U.S. dollars.BOARD OF DIRECTORS OF THE RESULTING ISSUERThe board of directors of the resulting issuer (the "Resulting Issuer") upon completion of the Proposed Transaction will increase from four to five directors and will be comprised of the following persons: Bruce Reid, John P. Ryan, Mark A. Hartmann, Robert Munro and Geoffrey Rotstein. It is intended that the new board of directors will create a management advisory committee consisting of Bobby E. Cooper and Kevin D. Stulp. The management advisory committee will not have any official authority or duties other than to advise and assist the board of directors when and if called upon to do so. It is contemplated that, subsequent to closing, the Resulting Issuer will seek shareholder approval to change its name to U.S. Silver Corporation, to continue under the laws of the Province of British Columbia and to increase the size of its board of directors to seven directors and to elect Bobby E. Cooper and Kevin D. Stulp as directors of the Resulting Issuer. Summaries of the biographies of the proposed directors and members of the management advisory board are set forth below.John Ryan, Chairman and Chief Financial OfficerMr. Ryan has extensive experience with development-stage companies. Mr. Ryan was Secretary and Chief Financial Officer of High Plains Uranium, Inc. (a uranium exploration and production company) from February 2005 until September 2006. From 1997 until 2005, he was Executive Vice-President and a director of Cadence Resources Corporation, a public natural resources company ("Cadence"). Mr. Ryan has also been Chief Financial Officer and a director of Trend Mining Company since August 2000. He served as President and a director of Grand Central Silver Mines Inc. from 1998 until 2000 and was a director of Metalline Mining Company from 1996 until 1999. He has also served as a director of White Mountain Titanium Corporation, a public natural resources company, since 2004. Other companies with which Mr. Ryan holds an officer and/or director position include Bio-Quant, Inc., Nevada-Comstock Mining Company, GreatWall Gold Corporation, Sundance Diamonds Corporation, TN Oil Co. and Dotson Exploration Company. He has additional experience with Western Goldfields Inc., Elite Logistics Inc. and Royal Silver Mines, Inc. Mr. Ryan attended the University of Idaho where he received a B.S. degree in Mining Engineering, and he also received a Juris Doctor from Boston College. Mr. Ryan is a former U.S. Naval Officer. Mr. Ryan will dedicate the approximately one-fourth of his business time to the Resulting Issuer.Bruce Reid, Chief Executive OfficerMr. Reid has over 30 years of experience in the mining and mining financing industries. Most recently he was the Vice President of Mining Investment Banking at Research Capital Corporation in Toronto, Ontario. Prior to that, he was the Executive Director of Patricia Mining from 2001-2004. During that tenure, Patricia re-opened the underground Island Gold project near Wawa, Ontario. The Island Gold mine is Ontario's newest gold mine with commercial production expected in early 2007. Mr. Reid continues as Director of Patricia Mining Corp. Prior to his tenure with Patricia, Mr. Reid was a Mining Analyst at various securities firms based out of Toronto analyzing public mining companies for institutional investors. Mr. Reid also worked as an exploration geologist at numerous projects in Northern Canada immediately after graduating with a B.Sc. in geology from the University of Toronto (1979). Mr. Reid also has a finance degree from the University of Windsor (1982). Mr. Reid will dedicate the majority of his business time to the Resulting Issuer.Mark A. Hartmann, President Mr. Mark Hartmann has served as the President and Chief Executive Officer of Golden Eagle Mining Co. (a private mining company) since 2004. From 2004 to 2006, Mr. Hartmann was the owner of Hartmann Consulting, a company specializing in underground management and mining issues. He was the Western Missouri Operations Manager for Lafarge North America, providing management oversight for all surface and underground mining operations in Western Missouri from 2001 to 2004. Mr. Hartmann was the Production Manager for Oglebay Norton at the Port Inland Plant in Michigan from 1999 to 2001 and the Mine Superintendent for APG Lime in Ripplemead, Virginia, a large underground limestone mine, from 1997 until 1999. He also worked for Sunshine Mining Company in a variety of positions, including Manager of Mining from 1987 to 1997, Project Manager of the Big Blackfoot project from 1986 to1987, and Chief Engineer from 1984 to 1986. Mr. Hartmann attended the University of Minnesota where he earned a B.S. degree in Mining Engineering in 1979. Mr. Hartmann will dedicate the majority of his business time to the Resulting Issuer. Robert Munro, Director Mr. Munro is the President, Chief Financial Officer and a co-founder of The Chrysalis Capital Group Inc. ("TCCG"), a private company focused on the creation of Capital Pool Companies and the consummation of qualifying transactions for such Capital Pool Companies. Mr. Munro was Vice-President of both Chrysalis Capital Corporation (now PharmEng International Inc.) and Chrysalis Capital II Corporation (now Tangerine Payment Solutions Corp.). Prior to joining TCCG, Mr. Munro served as Director, Data Product Management with Rogers AT&T Wireless Inc. ("Rogers"), from March 2003 to February 2006. Prior to joining Rogers, Mr. Munro was the founding Director of Venture Development with Exclamation from December 1999 to June 2002. Mr. Munro also acted as interim management to several of Exclamation's partner companies, and was one of the original founders of Points International, the reward management portal. Mr. Munro holds a Bachelor of Arts degree from Huron College, the founding college of the University of Western Ontario, as well as several certificates in Project Management from Ryerson University. Mr. Munro will dedicate such time as he considers necessary in connection with the management of the Resulting Issuer.Geoffrey Rotstein, Director Mr. Rotstein has over ten years of finance industry expertise in addition to direct experience with the CPC process based on his role as Chief Executive Officer of Cyberplex Inc., a Toronto Stock Exchange listed public company, a position he has held since January 2006. Prior to that he was the Chief Financial Officer of Cyberplex and its predecessor companies from March 1997 to December 2005. From June 1999 to November 1999, Mr. Rotstein also acted as Chief Financial Officer of Exclamation, where he was involved in the company's creation and initial financing. From September 1992 to February 1997, Mr. Rotstein worked as a Chartered Accountant at Coopers & Lybrand in Toronto, a major global accounting firm. Mr. Rotstein received his C.A. designation in 1996 and received his MBA degree from York University in Toronto in 1992. Mr. Rotstein will dedicate such time as he considers necessary in connection with the management of the Resulting Issuer. Bobby E. Cooper, Management Advisory Committee Mr. Cooper has 42 years of experience in the mining industry. He is currently retired from active day-to-day management activities in the mining industry. Mr. Cooper worked with Kennecott Corporation (a mining company) from 1987 to 1997 where from June 1993 until March 1997 he held the position of President and Chief Executive Officer. Mr. Cooper has held other executive positions with Thunder Basin Coal Company (a subsidiary of Atlantic Richfield Oil Company), RTZ PLC (now Rio Tinto PLC, a public company), Shell Mining Company (a subsidiary of Shell Oil Company of North America), Inspiration Consolidated (a subsidiary of Hudson Bay Mining Company) and Ridway Mining Company (a subsidiary of Kennecott Corporation). Mr. Cooper has been a member of the board of directors of High Plains Uranium, Inc. since February 2005. Mr. Cooper will dedicate such time as he considers necessary pursuant to any requests by the Resulting Issuer for assistance or advice with respect to the management of the Resulting Issuer. Kevin D. Stulp, Management Advisory Committee Mr. Stulp has served on the board of directors of Aurora Oil & Gas Corporation since March 1997. Since August 1995, Mr. Stulp has variously worked as consultant with Forte Group, on the board of the Bible League, and is active with various other non-profit organizations. From December 1983 to July 1995, Mr. Stulp held various positions with Compaq Computer Corporation, including industrial engineer, new products planner, manufacturing manager, director of manufacturing and director of worldwide manufacturing reengineering. Mr. Stulp holds a B.S.L.E. from Calvin College, Grand Rapids, Michigan, and a B.S.M.E. in Mechanical Engineering and an M.B.A. from the University of Michigan. Mr. Stulp will dedicate such time as he considers necessary pursuant to any requests by the Resulting Issuer for assistance or advice with respect to the management of the Resulting Issuer.

SIGNIFICANT CONDITIONS TO CLOSING

Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to satisfactory due diligence reviews, negotiation and execution of definitive transaction documentation, approval by both boards of directors, availability of prospectus and registration exemptions or obtaining exemptive relief, obtaining any necessary governmental and third party approvals and Exchange acceptance. There can be no assurance that the Proposed Transaction will be completed as proposed or at all. EXEMPTION FROM SPONSORSHIP Chrysalis applied for and received an exemption from the Exchange from the requirement to retain a sponsor in connection with the Proposed Transaction. ARM'S LENGTH QUALIFYING TRANSACTION The control persons of U.S. Silver are not (and their associates and affiliates are not) control persons in Chrysalis. Accordingly, the acquisition by Chrysalis of all the issued and outstanding shares of U.S. Silver common stock is not a Non-Arm's Length Qualifying Transaction for the purposes of Exchange policies. As a result, the Proposed Transaction will not be subject to approval of the shareholders of Chrysalis and therefore no meeting of the shareholders of Chrysalis is required as a condition to the completion of the Proposed Transaction.

INSIDERS OF THE RESULTING ISSUER

Other than the directors and senior officers of the Resulting Issuer referred to in this press release, and to the knowledge of the directors and senior officers of Chrysalis or U.S. Silver, no person will become an insider of the Resulting Issuer as a result or upon completion of the Qualifying Transaction.QUALIFIED PERSON Information of a technical nature in this press release respecting the Properties has been reviewed by Fred Barnard, Ph.D., Professional Geologist, who is the principal author of a technical report dated November 17, 2006 and entitled "Galena Mine Project, Idaho, U.S.A." by Chlumsky Ambrust & Meyer LLC. Dr. Barnard is a "qualified person" and an "independent person" each within the meaning of National Instrument 43-101 of the Canadian Securities Administrators. ABOUT CHRYSALIS CAPITAL III CORPORATIONChrysalis Capital III Corporation is the third capital pool company ("CPC") formed by The Chrysalis Capital Group ("The Chrysalis Group"). The Chrysalis Group is engaged in the creation of CPCs and completion of their qualifying transactions. To date, The Chrysalis Group has established three CPCs - Chrysalis Capital I: now PharmEng International Inc. (TSXV: PII), Chrysalis Capital II: now Tangarine Payment Solutions Corp. (TSXV: TAN), and Chrysalis Capital III: currently completing its qualifying transaction with U.S. Silver. For more information about The Chrysalis Group, please visit http://www.tccg.ca
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So. Tschonko hats im Silver Valley Sammelthread geposted, der Merger der US Silver Corp ist vollzogen und aus diesem Anlass habe ich den Threadtitel hier um die Börsenkürzel ergänzen können.

Tolle Geschichte, die Firma hat so nun 3,8 Mio Canadische Dollar Marktkap laut Big Charts und 6 Mio Shares Outstanding, - authorized Shares sind mir nicht bekannt.

teuer ist das nicht, aber es benötigt eben nun auch Arbeiter, die qualifiziert das Geschäft der Produktion im Einzugsbereich der Mine mit betreiben können.
Im Silver Valley Idaho Thread habe ich das kurz eben schon angesprochen:

Es gibt hier, wie wir hier im Forum ja inzwischen wissen, ein unübersehbares Manko in dieser ansonsten lupenreinen Story: siehe Personalpolitik SRLM, - oder verkürzt wiederholt, wie will man bei sinkender Arbeiterzahl in der Galena Mine der US Silver Corp, - weil stattdessen viele der Arbeiter zu SRLM gelockt werden, - überhaupt produzieren im Valley, bzw. eine Produktion im Valley in greifbarer Nähe erscheinen lassen.
Die tiefer gehenden Infos dazu aus November finden sich hier nochmal, im Link.

Fazit / Lösung: man schweigt sich über das Thema erst einmal aus und exploriert!

Positiv ist aber auch eine Sache: Man hat den selbst vorgegebenen Terminkalender bezüglich des Börsengangs bis auf +/- 2 Wochen genau eingehalten! - In diesem Geschäft eine bemerkenswerte Tatsache!

Zum unmittelbaren Einzugsbereich jedenfalls gehören über Property Lease Verträge (und schlicht aufgrund der geografischen Lage im oder am unmittelbaren Einzugsbereich) St. Elmo (STLM) , American Silver Mining (ASLM) und Silver Buckle Mines (SBUM).

Gruss,
gutso

http://www.pennaluna.com/prospector.htm?news_item=372

Zitat

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U.S. Silver Corporation, the formerly private firm headquartered in Wallace, has completed its merger into Chrysalis Capital III Corporation, a publicly traded Canadian company. Shares are trading on the TSX under the new symbol “USA” and the firm expects soon to change its name officially to U.S. Silver Corporation. USA is now about 60 cents Canadian.

Last summer, the firm bought the Silver Valley properties of Coeur d'Alene Mines. This included one asset that’s now operating: the Galena Mine… and two that aren’t: the Coeur Mine and the 5,000-foot deep Caladay exploration shaft.

U.S. Silver has said it plans to boost spending on exploration and development, but there’s no official word on expected production levels at the Galena this year. Outfits with property under lease around the Galena include American Silver (PinkSheets:ASLM)… Sterling Mining (OTCBB:SRLM)… and Silver Buckle Mines (PinkSheets:SBUM).
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Zitat

Es gibt genügend arbeitslose Bauarbeiter, welche die fette Lohntüte annehmen, welche es im Bergbau gibt.

Geologenmangel könnte schwerwiegender sein.

Hallo Lucky,

das muss ich erst mal so stehen lassen, da ich so etwas für Idaho noch bei weitem nicht sicher genug einschätzen kann. Insbesondere, wie es da bei der U.S. Silver Corp. aussieht. - Unterstützung dürften sie aber wohl kriegen, - denn die Galena Mine ist vielen sicher ein Stück Lokalpatriotismus wert im Valley. Aber auch, zumal über die Silver Buckle Mines Verbindung zur Magnusson Group besteht, - und die sind wiederum ganz gut mit geologisch gebildetem Personal bestückt.

Und bei den Neubesitzern der Crescent Mine, der Strategic Nevada Resources (TSX-V: SNS) sieht es jedenfalls auch so aus, dass sie sich bereits geologisch gut versierte Leute ranholen konnten, sogar mit Lokalhistorie.

Mal sehen, was andererseits Ryan da also hinbekommt. ...

Aber: wieviele vakante Arbeiter im Strassenbau es in Idaho grade gibt, damit bin ich überfragt.

Viele Grüsse,
gutso