VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/07/11 -- United Mining Group, Inc. ("UMG" or the "Company") (TSX: UMG)(OTCQX: UMGZF)(FRANKFURT: UM8) is pleased to announce that the Company's name change to United Silver Corp. will become effective for trading on Wednesday June 8, 2011. The Company's shareholders voted 90 percent in favour of the name change at the Company's Annual General Meeting held April 28, 2010.
"We felt it was important to align the Company's identity with our targeted silver resources as we continue our exploration and development efforts toward bringing the Crescent Silver Mine back into production. We are committed to building and running quality mining operations in the Silver Valley and developing partnerships that will provide benefits to the surrounding communities, the state of Idaho and our shareholders," stated Charles Pitcher, Chief Executive Officer, United Mining Group.
United Silver Corp. will commence trading on the Toronto Stock Exchange under the symbol 'USC', on the OTCQX platform under the symbol 'USCZF', and on the Frankfurt Stock Exchange under the existing symbol 'UM8'. The Company's new corporate website will also be launched at: www.unitedsilvercorp.com.
New TSX symbol: USC New CUSIP Number: 911521 New OTCQX symbol: USCZF Frankfurt symbol: UM8 New website address: www.unitedsilvercorp.com
ABOUT UNITED MINING GROUP
United Mining Group is currently earning, through development and operations, an 80% interest in the Crescent Silver Mine project in Idaho's prolific Silver Belt - directly between two of the world's historically largest silver producing properties, the Sunshine and Bunker Hill mines. UMG is committed to building a senior silver-producing mining company based on aggressive exploration and development of the highly-prospective current land position at the Crescent Silver Mine project and through the acquisition of additional precious metals interests. The Company trades on the Toronto Stock Exchange under the symbol "UMG". For more information about the Company, please visit: www.unitedmininggroup.com
ON BEHALF OF UNITED MINING GROUP, INC.
Charles Pitcher, Chief Executive Officer
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. Forward looking statements in this press release include that our stock will trade under a new symbol on June 8, 2011, that we can continue aggressive prospecting, exploration and development activities on the project; that production can start in the first quarter of 2012, that we can build a senior silver-producing mining company based on aggressive exploration and development of the highly-prospective current land position at the Crescent Silver Mine project and through the acquisition of additional precious metals interests. The Company's actual results and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: results of exploration activities and development of mineral properties, estimation of mineral reserves and resources, fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the inability to obtain financing, the inability to agree with joint venture or other key partners on important items, labor shortages, the inability to keep key employees, currency fluctuations, general market and industry conditions and other risks disclosed in the Company's filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Contacts:
CHF Investor Relations
Cathy Hume
(416) 868-1079 x231
cathy@chfir.com
