Low Risk, Low Capital, High Growth

AUGUST 2013

TSX:USA

OTCQX:USGIF

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

U.S. Silver & Gold Highlights

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 Forecast

2.1 – 2.2M oz Ag

$15.50 - $17.50 Ag Cash Costs/oz

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

4

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 Dufresue 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 5

Asset Overview

6

Galena Complex – 100% owned

• High grade Ag-Cu and Ag-Pb

• Produced over 240 M oz Ag historically

• Over 23 M oz Ag in “Proven and

Probable” Reserves, 13 M oz Ag in

“Measured and Indicated” and 14 M oz

in “Inferred” Resources* plus another 4

M oz Ag that were brought into the

“Inferred” category in March 2013

• Caladay Zone being assessed for high

grade conventional mining and bulk

mining potential

• Excess hoisting and milling capacity

Galena Complex located in

mining friendly Idaho • Ranked 6th in the US by The Fraser

Institute in 2012/2013**

• Supportive local communities

• Established mining state

• Experienced knowledgeable workforce

6

Drumlummon Mine – 100%

• Currently on care & maintenance pending an improvement in gold & silver prices

• High grade Au and Ag

• Produced over 1 M oz Au and 12 M oz Ag

• Extensive mining infrastructure * 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.

** See www.fraserinstitute.org for details.

Galena Complex

7

Galena Mine

• Galena 2012 production of 2.25M oz Ag @ ~$19/ounce; 2013 production

estimates of 2.1-2.2M oz Ag @ $15.50-$17.50/ounce

• Q1 production of 549,000 oz Ag @ $20.45/ounce;

• Q2 production of 629,227 oz Ag @ $16.41/ounce

• Cost cutting initiatives taking shape

• Coeur re-development postponed to focus efforts on Caladay potential

• Current M&I resource is 3.3M oz Ag with an additional 1.9M oz in Inferred

• Option value of resource is preserved; mine ready for a relatively quick

re-start when metals prices support a production decision

• Two separate mills with combined capacity of 1,500 tons/day, currently

operating at less than 50% of capacity

• 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

• Continued exploration success and mine life extension at Silver Halo and 350-

370 vein system

• Accelerated development of the 350-370 vein system and the Silver Halo is

expected to deliver high margin mill feed in the short term

Large Reserve and Resource Base

2nd largest

Primary silver

producer in

the U.S.

7

Galena Complex – Long Section

Opportunities for Significant Brownfield Expansion

Galena Complex – Caladay Zone

9 Supports Lower Cost Mining Techniques 9

New High

Grade

Discovery

* 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

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 1100 historic drill

holes and new drilling

Mining will commence in high-grade, silver-copper zones targeting

100 tons per day in Q3 2013

• Focus will then shift to high grade areas of the 49-390 silver-lead

resource

Publication of a Preliminary Economic Assessment of the greater

Caladay Zone silver-lead resource has been deferred due to recent

volatility in the price of silver

• In-house work continues to further improve confidence in the

project

Caladay Zone (Illustrative View)

AgCu - Silver Halo AgPb - Lead Zone AgPb - Higher Grade Silver Resource Mineralization

Offers Low Capex and Reduced Execution Risk

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

Strategic Objectives

12 Grow earnings and cash flow per share

12

Roadmap For

Success

Execute on operational improvements and

brownfield expansions

• Develop Caladay to fully utilize existing

processing capacity

• Continue exploration success to prove out

bulk mining expansion case

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

Operating Cost Improvements at Galena Complex

Since New Management

$0.00

$5.00

$10.00

$15.00

$20.00

$25.00

$30.00

$35.00

Cash Cost All In Cash Cost

Q3 2012

Q4 2012

Q1 2013

Q2 2013

13 *Calculated per silver industry standards

**Silver industry cash cost plus all development, capital expeditures, exploration spending and G&A

* **

Share Price Performance & Capital Structure

14

Symbol: USA-T

Recent Price*: $0.72

Market Cap (CDN): $43.2 M

Cash Balance**: $7.4 M

Debt**: $7.9 M

Shares Basic: 60 M

Options : 5.2 M

Warrants: 1.4 M

Fully Diluted: 66.6 M

* As of July 23 2013

** As of July 2, 2013 unaudited

Vo

lum

e (

TS

X &

OT

CQ

X)

Sh

are

Price

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

$0.00

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

8/15/2012 10/15/2012 12/15/2012 2/15/2013 4/15/2013

Junior Silver Producer Resource Base

15 Quality Resources and Growing

Ag o

z (

M)

Reserves/Resources

*As of June 13, 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.

P&P

M&I

0

10

20

30

40

50

60

70

GPR AXR AUMN SPM USA AUN

Junior Silver Producer Multiples

16 Undervalued Relative to Peers

EV

/ R

esourc

es (

$/o

z A

g)

EV / Resources

*As of June 13, 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

2

4

6

8

10

GPR EXN AUN AXR USA SPM AUMN

2013 Estimated Silver Production per $1,000 Invested

Highest Leverage to Silver Prices

17 Buy Assets Leveraged to the Silver Price

Pro

duction p

er

$1k Investe

d (

oz)

*As of June 13, 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.

13.0 16.5

20.3 22.7

27.6

36.3

56.6

0.0

10.0

20.0

30.0

40.0

50.0

60.0

AUMN EXN GPR AXR SPM AUN USA

Re-Rating Potential

18 Attractively Positioned Among Peers

Ente

rprise V

alu

e (

$ M

)

*As of June 13, 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.

2013 Production Guidance (M oz Ag Eq.)

Junior Silver Producers

USA

AUN

GPR

EXN

AXR

SPM

AUMN

Companies included: AUMN – Golden Minerals Company; AUN – Aurcana Corporation; AXR – Alexco Resource Corp.; EXN – Excellon Resources Inc.; GPR – Great Panther

Silver Limited; SPM – Scorpio Mining Corporation

0.00

20.00

40.00

60.00

80.00

100.00

120.00

140.00

0.0 1.0 2.0 3.0 4.0 5.0 6.0

Contact

Darren Blasutti President and CEO

dblasutti@us-silver.com

416-848-9503

www.us-silver.com