US CANADIAN MINERALS INCORPORATED (OTCBB: USCN)

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US CANADIAN MINERALS INCORPORATED (OTCBB: USCN)
"Up 51.85% on Wednesday"

Detailed Quote: http://www.otcpicks.com/quotes/USCN.php

US Canadian Minerals Inc. is a junior mining and exploration company whose business strategy is to grow shareholder value through acquisition, exploration and exploitation of near term production precious metal properties in North and South America.

USCN News:

May 27 - US Canadian Minerals Inc. Introduces the COD Mine, Mercator's Proximity and NI 43-101 Schedule

US Canadian Minerals Inc. (OTCBB: USCN), a U.S. based junior mineral exploration company would like to introduce COD Mine asset, Mercator Minerals proximity to the COD asset and the release schedule of the NI 43-101.

ABOUT COD MINE

COD Mine includes 13 claims totalling 260 acres in Kingman AZ. Worked since the 1880’s and last operated in the 1980’s the mine has some 1.2 M tons of proven, probable and possible blocked out resources (engineering reports dated 1970). This would bring an estimation totalling $450M USD of in ground resources (Not NI 43-101 compliant, report completed in 1980) and at today’s prices. In addition there are some 42,000 tons of above ground resources.

The mine has a 700 ft deep shaft and some 1700 ft of tunnels. An extensive chip sampling with assays and extensive maps from the previous operator are available at www.uscanadianmin.com/Arizona.htm.

The COD mine is a silver-gold mine with significant lead and zinc grades. The gold grade ranges from 5 to 7 grams per ton and the silver grade ranges from 8 to 18 ounces per ton. The lead and zinc average grades are approximately 3%. Previous estimations of $450M USD (Not NI 43-101 compliant) are based upon 9 previous geological and engineering studies and speak only to the ore blocks encountered in the underground workings consisting of the COD vein. The underground workings could be significantly expanded on the 6 other veins and the 260 acres controlled and unexplored. There are possibilities copper and moly is in the lower portions of these formations similar to what is found in neighbouring properties.

USCN would like to announce that a NI 43-101 compliant report on the COD Mine is near completion and results are anticipated within the next week. A drilling program on the above ground assets and extensive geology studies have been completed for this report and will be included in the results. We have posted some photos on our website at www.uscanadianmin.com/press.htm of the above ground drilling program.

USCN’s plans for the COD asset are as follows; prove up the resources into reserves with the 43-101 on the mine and above ground assets; Continue with further exploration through geomagnetic survey and a drilling program; and possibly process above ground assets in near term. Definition of National Instrument 43-101 — is a mineral resource classification scheme used for the public disclosure of information relating to mineral properties. The NI is a strict guideline for how public companies can disclose scientific and technical information about mineral projects on bourses supervised by the Canadian Securities Administrators.

Management would also like to bring to the attention of shareholders the proximity of the COD claims to the operations of Mercator Minerals Mineral Park Project. Mercator (ML:TSX) is a direct neighbour and has some workings on the same vein system that lies within USCN’s COD claims.

ABOUT MERCATOR MINERALS LTD.

Mercator Minerals Ltd is a TSX (ML: TSX) listed mining company with an experienced management team that has recently brought production and expansion to a mill at their Mineral Park Mine. This is one of the largest and most modern copper-moly-silver mining-milling operations in North America as stated by Mercator.

Mercator’s open pit operation is located approximately 1500 meters from COD claims. A lower elevated copper deposit is being exploited and had been shipping approximately 1M lbs of copper per month plus significant silver and some gold. It is possible this same copper Moly deposit lies below our claims on the COD at depth, but will need exploration in the future.

Mercator has closed $50+ million in bought financings in the past 6 months according to their public filings. Proven and Probable reserves of $4.75 billion (Mercator Minerals Current Reserves Report, March 9, 2009).