U. S. Antimony Announces Operational Update

Rhea-AI Summary

United States Antimony Corporation (NYSE American: UAMY) announced the appointment of Christopher Park as an additional director effective June 23, 2021. With extensive experience in financial management within the mining sector, Park's expertise fulfills SEC requirements for a financial expert on the board. The company reports increased production and sales of antimony, driven by high prices and strategic hiring. Additionally, improvements at the Madero smelter aim to enhance production efficiency. However, labor availability remains a challenge at its Montana plant.

Positive

• Appointment of Christopher Park as a financial expert director enhances board capabilities.
• Increased production and sales of antimony due to high market prices.
• Purchase of a new hammer mill to double zeolite production.
• Received positive test results leading to large purchase orders from Ambri for antimony.

Negative

• Labor shortages at the Montana plant hinder production capacity.
• Economic viability of reprocessing tailings from Los Juarez remains uncertain.

THOMPSON FALLS, MT / ACCESSWIRE / June 28, 2021 / United States Antimony Corporation ("USAC") (NYSE American:UAMY) Announces operation update:

Additional Director: US Antimony (USAC) is pleased to announce that Christopher Park was selected by the company as an additional director effective 23 June 2021. Mr. Park is a Chartered Professional Accountant (CPA, CGA) with several years of executive financial management experience within the mining industry which encompasses financial reporting, internal controls, taxation and treasury management with companies ranging from grassroots exploration to mine development to production. He has held a number of positions with mining companies which include Corporate Controller and Chief Financial Officer positions. Most recently he was Chief Financial Officer of Northern Vertex Mining Corp. during the period the Company constructed the Moss Mine and transitioned to commercial production. Mr. Park's addition is a perfect match for the Company and fulfills the requirement of the SEC of having a financial expert on the board that can serve on various required committees.

Ambri: Our first antimony metal sample made from Canadian raw materials arrived at Ambri at the end of January 2021. This sample passed initial inspection and was subsequently used in electrode fabrication. Several months later, Ambri ordered additional samples from both our Canadian and Mexican raw materials and reported they both worked well. Based on the positive outcomes of the tests with the earlier samples, Ambri placed a purchase order for a significantly larger quantity of antimony for use in regular cell builds, which was shipped in June.

Los Juarez/Puerto Blanco: Assays of tails pond samples from 35 holes spaced 20 meters apart averaged 0.29 gpt gold and 16.9 gpt silver. Although reprocessing of the tailings at the indicated grade may not be economic, USAC is evaluating the dilution of grade effect of a significant component of the tailings originating from processing of antimony ores from Guadalupe that contained no gold or silver.

Bear River Zeolite: The Company has purchased and installed a new hammer mill to replace its vertical shaft impactor crusher. This decision was made in order to increase production, (approximately doubling it). The crusher is being outfitted with input and discharge bins, gates, and a variable frequency drive to study the effects of crushing size distribution as a function of crushing speed. Installation was done while maintaining the primary line in production. In concert with this upgrade, the company is redesigning the dust collection system throughout the plant. In addition to increasing its production of ultra-fine product, this modification will improve the working environment for our plant employees, decrease shut-downs due to dust in electrical and mechanical equipment, and allow more precision in quality and control of product. Additionally, the company has hired Ward Thompson as an onsite manager and Lynn Hanson as a mechanic and auxiliary driller/blaster. Both positions have been sorely needed and position the company for dramatic improvements. Approximate sales tonnages of zeolite per month have been as follows: January 659, February 843, March 971, April 1,042, and May 1,248. Early summer typically corresponds to a decrease of sales and this increase is attributable in large part to the outstanding efforts of the company's new zeolite sales director Gretchen Lawrence.

Antimony Sales: The price of antimony has increased and remained high compared to a 15-year average starting in Dec of 2020. The company has sold its North American production capacity through October. Labor availability at its plant in Montana has remained the single most challenging factor related to increasing its production capacity. In reaction to this problem the company has been increasing its production at its Madero smelter in Mexico where labor availability is ample. Additionally, the company increased its starting wage both in Montana and Idaho in order to attract labor and is engaged in efforts to acquire temporary labor from Mexico for its processing facilities in Montana and Idaho.

Madero: The Company has purchased 250 tons of antimony from its Mexican sources since restarting the smelter in Q1 of this year. It has shipped two trucks of crude oxide to its plant in Montana. Due to labor shortages in the US the company is focusing on producing finished oxide and metal from its smelter in Madero. Infrastructure updates as well as modification of furnacing procedures designed to decrease costs are underway. Preliminary results support the possibility of producing finished oxide in fewer furnacing steps. Improvements at its Madero smelter will be completed later this year.

Trisulfide: In June of 2020, our first sample of antimony trisulfide for center fired ordnance primers made from Mexican feedstocks was approved by the DOD lab at the Piscatinny Arsenal, in Wharton, New Jersey after months of delay because of the lab closure due to COVID-19. Meanwhile, the company has been producing and shipping lump antimony trisulfide made from recycled antimony sulfide fines. We recently received enough antimony sulfide concentrate from Mexico to produce the remaining five samples for the DLA. We expect delivery of two new large capacity furnaces during the last week of June for the production of those samples. These furnaces will increase US Antimony's production capacity of antimony trisulfide, used in primers for munitions, from about 100 lbs per day to about 300 lbs per day. Apart from sulfide ore sources in Mexico, the Company is investigating potential sources in Bolivia and Guatemala.

China, historically the sole supplier of lump antimony trisulfide has held back the export of antimony trisulfide, leading to a potential world-wide shortage.

Perpetua Resources: A laboratory sample from Perpetua Resources was received and analyzed. Preliminary indications are that the sulfide concentrate produced by Perpetua would probably not be feasible as a source of antimony trisulfide but would be ideal feedstock for processing into antimony metal and oxide at the Company's smelter in Mexico.

Forward Looking Statements:

This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events, including matters related to the Company's operations, pending contracts and future revenues, ability to execute on its increased production and installation schedules for planned capital expenditures and the size of forecasted deposits. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent filings, including Form 10-KSB with the Securities and Exchange Commission.

CONTACT:
United States Antimony Corp.
PO Box 643 47 Cox Gulch Rd.
Thompson Falls, Montana 59873-0643
Phone: 406-827-3523
Fax: 406-827-3543
E-Mail: hbar_1999@yahoo.com

SOURCE: United States Antimony Corp.

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FAQ

What is the recent operational update for United States Antimony Corporation (UAMY)?

United States Antimony Corporation announced key developments including the appointment of Christopher Park as a director, increased antimony production, and a new hammer mill installation for zeolite.

Who was appointed as a director of UAMY and what is his background?

Christopher Park was appointed as a director effective June 23, 2021. He is a Chartered Professional Accountant with extensive experience in financial management in the mining industry.

How is the antimony market performing for UAMY?

The price of antimony has remained high, prompting UAMY to sell its North American production capacity through October 2021.

What challenges is UAMY facing in production?

Labor availability at the Montana plant is currently the main challenge impacting production capacity.

What improvements are being made at the Madero smelter for UAMY?

UAMY is focusing on increasing production efficiency at the Madero smelter, including updates to infrastructure and furnacing procedures to decrease costs.