 On June 7, 2012, U.S.Silver Corporation and RX Gold & Silver announced the signing of a definitive agreement to merge the two companies and form U.S. Silver & Gold.The highlights of the agreement included 

On July 25, 2012, Hecla Mining Company announced its intention to make an all-cash offer to acquire all of the outstanding common shares of U.S. Silver for C$1.80 per share and all of the outstanding common share purchase warrants of U.S. Silver for C$0.205 per warrant.On July 30, 2012, U.S. Silver’s Board of Directors unanimously recommended that U.S. Silver shareholders reject the unsolicited cash offer from Hecla Mining and recommended that U.S. Silver instead vote their U.S. Silver shares in favour of the proposed combination transaction with RX Gold & Silver Inc.

On August 7, 2012, during the special meeting of shareholders, U.S. Silver shareholders approved the proposed transaction with RX Gold.