Metalnewsnet 5 May ：

U.S. SILVER ANNOUNCES APPLICATION FOR MANAGEMENT CEASE TRADE ORDER

U.S. Silver Corp. previously announced in Stockwatch on May 3, 2010, that its financial statements and related materials for the year ended Dec. 31, 2009, have been delayed by approximately one week. The annual financial statements were due for filing on April 30, 2010. Both the company and the auditors are working diligently to complete the preparation of the annual financial statements to enable such filing to be made in approximately one week. The reason for the unforeseen delay relates to completing certain procedural matters in connection with the audit of the annual financial statements.

After consultation with the Ontario Securities Commission (OSC), the company has applied to the OSC for a temporary management cease trade order (MCTO) under National Policy 12-203 which, if granted, will prohibit trading in securities of the company by certain insiders of the company. An MCTO would not generally affect the ability of persons who have not been directors, officers or insiders of the company to trade securities of the company. The granting of a management cease trade order is at the discretion of the OSC and there is no assurance that such an order will granted.

If the MCTO is granted, the company intends to satisfy the provisions of the alternate information guidelines as set out in the National Policy 12-203 for as long as the company remains in default, including the issuance of bi-weekly default status reports, each of which will be issued in the form of a press release.

The company continues to be unaware of any financial or operational events of a material nature other than those previously disclosed.

We seek Safe Harbor.

(from stockwatch)