U.S. Silver & Gold Corporate Presentation - September 23, 2013

1. Low Risk, Low Capital, High Growth
SEPTEMBER 2013
TSX:USA
OTCQX:USGIF

2. Forward Looking Statement – Safe Harbour
Certain information in this presentation may contain forward-looking statements. This information is based on current expectations
that are subject to significant risks, assumptions and uncertainties that are difficult to predict. Actual results might differ materially
from results suggested in any forward-looking statements. All statements, other than statements of historical fact, included in the
presentation, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future
plans and objectives of U.S. Silver & Gold, are forward-looking statements. Words such as “expect”, “anticipate”, “estimate”, “may”,
“will”, “should”, “intend”, “believe” and other similar expressions are forward-looking statements. Forward-looking statements are not
guarantees of future results and conditions but rather reflect our current views with respect to future events and are subject to risks,
uncertainties, assumptions and other factors, and actual results and future events could differ materially from those anticipated in
such statements. There can be no assurance that such forward-looking statements will prove to be accurate. U.S. Silver & Gold
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 U.S. Silver & Gold.
Additional information identifying risks and uncertainties is contained in filings by U.S. Silver & Gold with the Canadian securities
regulators, which filings are available at www.sedar.com.
An additional Cautionary Note to Investors – In the event that we use certain terms in this presentation, such as “resource”,
“measured resource”, “indicated resource” and “inferred resource”. U.S. investors are cautioned that, while such terms are
recognized and required by Canadian Securities Laws, the United States Securities and Exchange Commission does not recognize
them. Under U.S. standards, mineralization may not be classified as a “reserve” unless the determination has been made that the
mineralization could be economically and legally produced or extracted at the time the reserve determination has been made. U.S.
investors should not assume that all or any part of measured or indicated resources will ever be converted into reserves. In addition,
“inferred resources” have a great amount of uncertainty as to their existence and as to whether they can be mined legally or
economically. Accordingly, information concerning descriptions of mineralization in this presentation may not be comparable to
information made public by companies that are subject to the SEC’s Industry Guide 7.
Mr. Jim Atkinson, Vice President, Exploration and a Qualified Person under Canadian Securities Administrators guidelines has
approved the applicable contents of this presentation.
For further information on the Galena Complex, please refer to the technical report entitled “Technical Report, Galena Complex,
Shoshone Idaho” dated March 22, 2013 and available on the U.S. Silver & Gold Inc. SEDAR profile at www.sedar.com.
Some of the potential quantities and grades disclosed are conceptual in nature, there has been insufficient exploration to define a
mineral resource on all of the mineralization at the Galena Complex and it is uncertain if further exploration will result in certain
targets being delineated as a mineral resource.
2

3. U.S. Silver & Gold Highlights
Committed to increasing shareholder value
• Established, Long-life Operating Complex
• Significant Ongoing Brownfield
Expansion
• Dominant Land Position in the Prolific
Silver Valley
• Favourable Environment for Accretive
Acquisitions
• Proven Management & Board
3
2013 Forecasts
Production:
2.1 – 2.2 Moz Ag
Cash Costs:
$15.50-17.50/Oz Ag

4. Asset Overview
4Located in an Excellent Mining Jurisdiction
Galena Complex – 100% owned
• High grade Ag-Cu and Ag-Pb
• Produced over 240 M oz Ag
historically
• P&P* - 23M oz Ag
• M&I – 13M oz Ag
• Inferred** – 18M oz Ag total
• New Caladay Zone being assessed
for high grade conventional mining
and bulk mining potential
• Hoisting and milling capacity
available
Galena Complex located in
mining friendly Idaho
• Ranked 6th in the US by The Fraser
Institute in 2012/2013***
• Established mining state
• Experienced knowledgeable
workforce
4
* Descriptions of our mineral deposits are not comparable to similar information reported by U.S. companies which
are subject to the reporting and disclosure requirements under the United States federal securities laws and the
rules and regulations thereunder. See www.us-silver.com for NI 43-101 Technical Report.
** As of December 31, 2012 14m oz Ag and March 19, 2013 4m oz Ag inferred for a total of 18m oz Ag inferred
*** See www.fraserinstitute.org for details.
Lucky
Friday
Mine
Lucky
Friday
Mine
Caladay
Shaft
Caladay
Shaft
Galena
#3 Shaft
Galena
#3 Shaft
Galena
Main Shaft
Galena
Main Shaft
Coeur
Shaft
Coeur
Shaft
Sunshine
Mine
Sunshine
Mine
Crescent
Mine
Crescent
Mine
0
5000
metres
0
N
Kellogg
Osburn Silverton
Wallace
Mullan
IDAHO
Galena
Mine
Complex
WAWA
OROR
MTMT
WYWY
NVNV UTUT
CanadaCanada

5. Galena Complex
5
Galena Mine (see Apendix A for Technical Drawing)
• Galena 2012 production of 2.25M oz Ag @ ~$19/oz; 2013 production estimates
of 2.1-2.2M oz Ag @ $15.50-$17.50/oz
− H1 2013 1.18m ounces @ 18.25 per ounce
− Q3 2013 implemented Small Mine Plan to be profitable at $20 silver
price
− H2 estimated production 850,000-1,000,000 oz Ag at $15.50-$17.50/oz
Ag
• Coeur re-development postponed to focus efforts on near term Caladay
potential
• Two separate mills, 3 shafts with combined operating capacity of 1,500
tons/day, currently operating at less than 500 tons/day
− Mill recovery rates of 96% for silver-copper and 92% for silver-lead ores
− Campaigning at Galena mill to reduce costs for remainder of 2013
• Accelerated development of the 350-370 vein system and the Silver Halo is
expected to deliver high margin mill feed before the end of the year
Excellent Foundation for Growth
2nd
Largest
Primary Silver Producer
in the U.S.
5

6. Reducing Cash Costs & Improving Operations
$0.00
$5.00
$10.00
$15.00
$20.00
$25.00
$30.00
$35.00
Q3 2012 Q4 2012 Q1 2013 Q2 2013
U.S. Silver & Gold Cost / oz Ag
Cash Cost All In Cash Cost
6 6Continued cash cost reductions with current Management 6

7. Galena Complex – Caladay Zone
7Low Cost Production Growth 7
New High
Grade
Discovery
The Caladay Zone is a semi-continuous mineralized zone extending
from Galena into the Caladay Mine at depth
• Currently 2,800-3,000 vertical feet with estimated strike length of
1,200-3,600 feet and apparent widths of 200-400 feet
Global tonnage target of 60-70 million tons and potential silver
resource of 150-200 million ounces based on over 1,100 historic drill
holes and new drilling
Mining commenced in high-grade, silver-copper zones in Q3 2013
targeting 100 tons per day (See Appendix B for illustrative drawing)
• Focus will then shift to high grade areas of the 49-390 silver-lead
resource (See Appendix C for map)
Publication of a Preliminary Economic Assessment of the greater
Caladay Zone silver-lead resource expected after year-end resource
update
• In-house work continues to further improve confidence on the
bulk mining project* Some of the potential quantities and grades disclosed in this presentation are conceptual in
nature. At the current stage of exploration, there is insufficient drilling to determine the extent of
continuity of the mineralization required to define a mineral resource for all mineralization at the
Galena Mine Complex and Drumlummon Mine. It is uncertain if further exploration will result in
certain exploration targets being delineated as a mineral resource

8. Strategic Objectives
8Maintain Low Costs, Grow Production 8
Roadmap For
Success
Execute and maintain operational
improvements and brownfield expansions
• Develop Caladay to fully utilize existing
processing capacity
• Continue exploration success, prepare PEA
to prove out bulk mining expansion case
Protect the balance sheet
Assess exploration, processing and capital
synergies with geographically focused assets
Assess accretive per share acquisition
opportunities in North America
1
2
3
Exceed 5.0 M oz Ag by end of 2015
4

9. Share Price Performance & Capital Structure
9
Symbol: USA-T
Recent Price*: $0.72
Market Cap (CDN): $50 M
Cash Balance**: $7.4 M
Long Term Debt (3 years)**: $7.9 M
Shares Basic: 69.7 M
Options : 5.9 M
Warrants: 23.3 M
Fully Diluted: 93 M
* As of September 6, 2013
** As of July 2, 2013 unaudited
Volume(TSX&OTCQX)
SharePrice
3%
30%
67%
Insiders Institutional Other

10. Junior Silver Producer Global Resource*
Quality Reserves and Resources 10
*As of September 17, 2013 and based on public disclosure documents. Market data and other statistical information used in this presentation may be based on independent industry publications, government publications, reports by market
research firms, or other published independent sources. Some data is also based on U.S. Silver & Gold’s good faith estimates that are derived from its review of internal data and information, as well as the sources listed above. Although U.S.
Silver & Gold believes these sources are reliable, U.S. Silver & Gold has not independently verified the information and cannot guarantee its accuracy or completeness.
Endeavour
Silver
U.S. Silver &
Gold
SilverCrest
Mines
Aurcana Scorpio Mining Alexco
Resource
Avino Silver &
Gold Mines
Excellon
Resources
Great Panther
Silver
Measured & Indicated
Measured & Indicated
EDR USA SVL-V AUN-V SPM AXR ASM-V EXN GPR

11. Junior Silver Producer Multiples*
Undervalued Relative to Peers 11
$‐
$2.00
$4.00
$6.00
$8.00
$10.00
$12.00
$14.00
GPR SVL‐V EXN EDR AXR ASM‐V USA AUN‐V SPM
$ / oz Ag
EV/Resource
*As of September 17, 2013 and based on public disclosure documents. Market data and other statistical information used in this presentation may be based on independent industry publications, government publications, reports by market
research firms, or other published independent sources. Some data is also based on U.S. Silver & Gold’s good faith estimates that are derived from its review of internal data and information, as well as the sources listed above. Although U.S.
Silver & Gold believes these sources are reliable, U.S. Silver & Gold has not independently verified the information and cannot guarantee its accuracy or completeness.

12. Highest Leveraged to the Silver Price
How Much Production Does $1,000 Buy?*
*As of September 17, 2013 and based on public disclosure documents. Market data and other statistical information used in this presentation may be based on independent industry publications, government publications, reports by market
research firms, or other published independent sources. Some data is also based on U.S. Silver & Gold’s good faith estimates that are derived from its review of internal data and information, as well as the sources listed above. Although U.S.
Silver & Gold believes these sources are reliable, U.S. Silver & Gold has not independently verified the information and cannot guarantee its accuracy or completeness.
0
10
20
30
40
50
60
USA SPM ASM‐V AUN‐V GPR EDR EXN SVL‐V AXR
Oz Ag Eq Production
Per $1000 Invested
Leverage to Silver Price
12
(closed)

13. Attractively Positioned Among Peers
Re-Rating Potential
13
USA
ASM‐V
AXR
GPR
EXN
AUN‐V
SPM
SVL‐V
0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000
Enterprise Value
2013 Production Guidance (oz Ag eq)
USA
ASM‐V
AXR
GPR
EXN
AUN‐V
SPM
SVL‐V
*As of September 17, 2013 and based on public disclosure documents. Market data and other statistical information used in this presentation may be based on independent industry publications, government publications, reports by market
research firms, or other published independent sources. Some data is also based on U.S. Silver & Gold’s good faith estimates that are derived from its review of internal data and information, as well as the sources listed above. Although U.S.
Silver & Gold believes these sources are reliable, U.S. Silver & Gold has not independently verified the information and cannot guarantee its accuracy or completeness.

14. Darren Blasutti
President and CEO,
Director
• Former SVP Corporate Development and Investor Relations for Barrick Gold, reported to President and CEO
• Led Barrick's strategic development for over 13 years executing over 25 gold mining transactions including Sutton Resources,
Homestake Mining, Placer Dome, consolidation of the Cortez property from Rio Tinto
• Responsible for creation of Barrick Energy to hedge Barrick’s exposure to energy prices
Bob Taylor
COO
• Over 40 years of experience in operations, management, engineering, and exploration for underground and open-pit mines
• Most recently VP and President North American Operations for Kinross Gold where he was responsible for all operations
and exploration
• Former VP, Mine Operations at Stillwater Mining in Montana
Warren Varga
CFO
• Over 18 years of progressive financial leadership experience and brings extensive senior management expertise
• Most recently CFO of RX Gold & Silver Inc. and former Senior Director, Corporate Development at Barrick Gold Corporation
• Member of the Canadian Institute of Chartered Accountants and the Chartered Financial Analyst Institute
Steve Long
SVP, Operations
• Over 35 years experience in mine engineering and management
• Senior manager for underground mining operations for Newmont Mining Corporation, Barrick Gold, Echo Bay and
Homestake Mining
Jim Atkinson
VP, Exploration
• Licensed Professional Geologist, over 40 years of experience in exploration geology
• Completed more than a dozen exploration programs across North America
Daren Dell
VP, Technical
Services
• Over 20 years experience and brings extensive knowledge gained from evaluating mining assets around the globe
• Formerly Director, Corporate Development and Director, Technical Evaluations at Barrick Gold. Prior to joining Barrick Gold,
Mr. Dell was at Placer Dome for 15 years
Peter McRae
VP, General
Counsel
• Most recently VP Corporate Counsel of RX Gold & Silver Inc. and in private practice at Weil, Gotshal & Manges LLP, a major
international law firm based in NY with extensive experience on general corporate, securities law, and governance matters
Management Team: Experienced + Proven
14

15. Board of Directors
Gordon Pridham
Chairman
• Over 30 years of experience as a global finance executive
• Serves on the public company boards of Newalta Corporation and Titanium Corporation, where he is Chairman of the Board
Hugh Agro
Director
• Retired in 2009 as EVP Strategic Development at Kinross Gold, where he oversaw corporate development and exploration
• Held senior positions with Placer Dome Canada and Deutsche Bank
Alex Davidson
Director
• Retired in 2009 as EVP Exploration and Corporate Development at Barrick Gold
• 2005 AO Dufresne Award to recognize exceptional achievement and distinguished contribution to mining exploration in Canada
• In 2003 was named Prospector of the Year by PDAC for discovery of Alto Chicama in Peru
Alan Edwards
Director
• Chairman of AuRico Gold Inc. and AQM Copper Inc. Other boards include Entrée Gold Inc., Copper One Inc. and Oracle Mining
Corp.
• Senior management positions with Frontera Copper, Apex Silver Mines, Kinross, Cyprus Amax and Phelps Dodge
Tom Ryley
Director
• Board of directors for Newalta Corporation, Tribute Resources and Benefuel Inc., where he is Chairman of the Board
• Former Executive Vice President of Suncor Energy, where he worked for 25 years in a variety of roles
Lorie Waisberg
Director
• Former Senior Partner at Goodmans LLP and EVP, Finance and Administration of Co-Steel Inc.
• Accredited with Institute of Corporate Directors and sits on Boards of Tembec and Chemtrade Logistics Inc
Darren Blasutti
Director • President and CEO
15

16. Why U.S. Silver & Gold?
Executing on:
− operational
improvements;
− low risk
brownfield
expansion
•Experienced management team
•Increasing production and reducing costs
•100% owned, royalty free
•Fully permitted
•Near existing infrastructure
•Excess capacity
•Catalysts in place for improved valuation
Focused on Unlocking Value 16

17. Contact
Darren Blasutti, President & CEO
dblasutti@us-silver.com
416-848-9503
Nicole Richard, Investor Relations
nrichard@us-silver.com
416-848-9503
www.us-silver.com

18. Appendix A: Galena Complex - Long Section
Caladay resources represent potential for bulk mining zone
Existing
Resource
Existing
Resource

19. Appendix B: Caladay Zone (Illustrative View)
AgCu ‐ Silver Halo
AgPb ‐ Lead Zone
AgPb ‐ Higher Grade Silver Resource
Mineralization
Offers Low Capex and Reduced Execution Risk

20. Appendix C: Caladay Zone - 4900 Level Plan
Close Proximity To Existing Mine Infrastructure And Expanding
Block Model Results
Caladay Zone
* Calculated at $23 Ag, $0.90 Pb and $3.25 Cu
Approximately
3000 ft to the
Galena Shaft
Approximately
2000 ft to the
Caladay Shaft