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USCorp Terminates Joint Venture Agreement


02/02/2011 | Press Release

LAS VEGAS–(BUSINESS WIRE)– USCorp (the “Company”) (OTCBB: USCS) announced today that it has elected to terminate the Joint Venture Agreement between the Company and Yasheng Group, a Chinese agricultural conglomerate. The Joint Venture Agreement specified certain dates for providing the initial funding for the Joint Venture which were not met. The Joint Venture would have been owned 50 percent by each party with the mining properties owned by the Company contributed to the Venture upon the initial funding. As a result of termination of the Joint Venture the mining properties continue to remain solely controlled by the Company.

USCorp has two mineral exploration projects in the United States: the gold and silver Twin Peaks project located in Yavapai County, Arizona, and the gold Picacho Salton project located in Imperial County, California.

Information about USCorp can be found at its website: www.uscorpnv.com.

About Measurements

Technical Reports and Feasibility Studies on our projects are presented in accordance with Canadian and internationally recognized standards. The terms “Mineral Resource,” “Measured Mineral Resource,” “Indicated Mineral Resource” and “Inferred Mineral Resource” are Canadian mining terms and are not defined terms under standards of the United States Securities & Exchange Commission (SEC). Under SEC standards, mineralization may not be classified as a “reserve” unless determination has been made that the mineralization could be economically produced and permitted in order to be legally produced or extracted at the time the reserve calculation is made. USCorp cautions readers not to assume that all or any part of Measured, Indicated or Inferred Resources will ever be converted into Mineral Reserves as defined by the SEC.

SAFE HARBOR ACT DISCLAIMER NOTICE

“SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company’s entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company’s Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company’s expectations or future events.

Contact:

USCorp
Robert Dultz, Chairman and CEO
Robert@uscorpnv.com
or
Martin E. Janis & Company, Inc. Public Relations
Bev Jedynak, 312-943-1123
bjedynak@janispr.com



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