1. U.S. ANTIMONY CORPORATION
JOHN LAWRENCE, CEO
RS – NOVEMBER, 2012

2. USAC CORPORATE OVERVIEW
47 Cox Gulch Road Thompson Falls, MT 59873
Phone: Fax:
USAC CORPORATE OFFICES AND PLANT
USAC CORPORATE OVERVIEW
USAC is a rapidly growing natural resource company that is making a concerted effort to increase its raw material supply from Mexican operations by new mining, additional milling and smelting capacity, and third party raw material feeds.
USAC is strategically postured as a major player in the antimony market as a fully integrated producer from mine to finished product. World resources of antimony are diminishing and demand is increasing.
USAC operates smelters in Thompson Falls, Montana and at Madero, Coahuila, Mexico, a gravity- and flotation mill in Guanajuato, Mexico, a mine at Los Juarez, Queretaro, Mexico, and a zeolite operation at Preston, Idaho. The Company is the only significant domestic producer of antimony products.
RS – NOVEMBER, 2012

3. USAC combined revenues through 3Q 2012 were $8,681,271
USAC is now operating the Puerto Blanco gravity-flotation mill in Guanajuato, Mexico 20 hours per day on third party antimony mine feed. Preliminary testing has been done on the Los Juarez antimony-silver-gold and negotiations are underway to sell the silver and gold. Production is anticipated later in Q
USAC, with the exception of the natural gas pipeline and installation of a 500 ton per day (tpd) mill, will have finished the major CAPEX projects during Q This includes completing the Puerto Blanco mill and doubling of the smelter capacity at Madero.
USAC became listed on the NYSE MKT under the symbol “UAMY” on May 7, 2012
USAC combined revenues through 3Q 2012 were $8,681,271
RS – NOVEMBER, 2012

4. ANTIMONY BACKGROUND
Source
Mine production 2011
Mine reserves
5,000
310,000
150,000
950,000
3,000
350,000
21,000
2,000
50,000
Other Countries
6,000
World total
169,000
1,800,000
World production and mine reserves 2011 in metric tons of metal (U. S. Geological Survey, Mineral Industrial Survey, Fourth Quarter 2011)
Experience and Proprietary Technology and Equipment
USAC has proven experience in underground and open pit mining, flotation and gravimetric milling, crushing and screening, dry grinding, cyanide leaching, precious metal refining, pyro-metallurgy, and marketing. The Company has developed proprietary technology to smelt a variety of raw materials and remove impurities such as lead, arsenic, bismuth, mercury, selenium, silver, and gold.
Mexican antimony deposits
Most of the Mexican antimony deposits are oxide ores or mixed oxide sulfide deposits. The oxides, primarily the mineral senarmontite, are recoverable by gravimetric methods, typically jigs and tables. The sulfide ores, typically the mineral stibnite, are recoverable by flotation. During World War II, the United States had relied on Mexico for antimony. Historically, Mexico was at one point the second largest producer of antimony in the world.
RS – NOVEMBER, 2012

5. Transportation including batteries
Inventory
USAC has accumulated large inventories of raw materials at Madero, Puerto Blanco, and the Los Juarez property and is now planning to process and sell as much inventory as possible before the end of 2012.
Strategic metal
Antimony is considered a “strategic metal” and wartime applications include antimony oxide used as a flame retardant in plastics and textiles for vehicles and aircraft, antimony metal used in storage batteries and in ordnance to harden lead.
Uses of antimony
Uses
Percentage
Flame retardants 36
Transportation including batteries 23
Chemicals 16
Ceramics and glass 12
Others 13
RS – NOVEMBER, 2012

6. PRICING
Pricing of the metal is generally based on the London Metal Exchange average price C.I.F. Rotterdam per metric ton (a metric ton contains 2,204.6 pounds). Antimony oxide contains 83.1% antimony metal and it is typically the preferred product for pricing.
YEAR
USD
AVG/lb
2001
1,286
$0.583
2002
1,950
$0.885
2003
2,405
$1.091
2004
2,907
$1.319
2005
3,808
$1.727
2006
5,727
$2.598
2007
5,985
$2.715
2008
6,346
$2.879
2009
5,459
$2.476
2010
9,495
$4.307
2011
16,360
$7.421
2012
13,000
$5.897
RS – NOVEMBER, 2012

7. USAC ANTIMONY DIVISION
USAC has shipped 1,253,248 lbs of antimony through 3Q 2012 resulting in $6,678,725 revenues.
RS – NOVEMBER, 2012

8. LOS JUAREZ PROPERTY, QUERETARO, MEXICO
MINING
LOS JUAREZ PROPERTY, QUERETARO, MEXICO
Los Juarez mine face, "Minas Grande West“, is one of five faces, Los Juarez, Queretaro, Mexico.
At the Los Juarez property in Queretaro, Mexico, USAC relied on a Mexican Government publication, Consejo de Recursos Minerales, Monografia Geologico-Minera del Estado de Querearo, pages The paper reported a reserve of 1,000,000 metric tons containing 253 grams per ton silver and 1.8% antimony. The deposit was interpreted as a manto (layered) deposit up to 5 meters thick. Although USAC used the report to start mining, it was disallowed by the S.E.C. as a basis for reserves.
Preliminary progress includes surface mapping, analytic procedures, property acquisition, permitting, mining procedures, trucking negotiations, mill preparations, mill feed grade determinations, mill recovery, and smelting considerations.
Detailed mapping and sampling delineated jasperoid mineralization over an east-west strike length of 3.5 kilometers with a maximum width of 1 kilometer. In all cases, the silver and gold mineralization is associated with antimony. Preliminary exploration indicates that this could be a deep-seated jasperoid.
RS – NOVEMBER, 2012

9. New paved road to Los Juarez, partially completed entire distance.
Drilling and blasting is establishing faces in the jasperoids. Truckload samples have assayed approximately 2% antimony, 8 ounces of silver and ounces of gold per ton. Presently, the Company has more than 8,000 tons of mill feed from Los Juarez.
The antimony, silver, and gold are recoverable by flotation methods. The concentrate grade will be improved by depressing carbonaceous material in the feed.
RS – NOVEMBER, 2012

10. Preliminary smelting has indicated good recovery and an excellent product grade.
An initial mill trial of 250 tons of dump rock from Los Juarez has been completed. The dump rock was badly diluted with soil from the mine and mud from the mill yard. The results were as follows:
Item
Antimony 
Silver
Gold
Range of head assays %
ounces per metric ton
ounces per metric ton
Range of tail assays %
ounces per metric ton
ounces per metric ton
Range of concentrate assays %
ounces per metric ton
ounces per metric ton
Average grade of concentrates
38.6%
288.9 ounces per metric ton
0.548 ounces per metric ton
RS – NOVEMBER, 2012

11. PUERTO BLANCO MILL, GUANAJUATO, MEXICO
MILLING
PUERTO BLANCO MILL, GUANAJUATO, MEXICO
The crushing circuit is run one shift to operate the mill for three shifts. It also includes a large pre-crusher for oversize rock from the Los Juarez deposit.
Currently, the combination flotation-gravity mill has a capacity of 150 metric tpd.
RS – NOVEMBER, 2012

12. Pre-crusher circuit Puerto Blanco mill
Vertical shaft impactor (VSI) Puerto Blanco mill
Cone crusher, Puerto Blanco mill
Conveyors at crusher, Puerto Blanco mill
RS – NOVEMBER, 2012

13. Ball mill Puerto Blanco mill Puerto Blanco mill flotation cell
Puerto Blanco mill flotation cell
A straight oxide circuit is nearing completion that will have a capacity of tpd that can be run simultaneously with the flotation-gravity circuit.
Concentrating table, Puerto Blanco flotation-gravity circuit, showing recovery of oxide (yellow) minerals.
The permitting and installation of a 500 metric ton per day mill owned by the Company is planned for next year. This mill will be dedicated to Los Juarez and will utilize the present crushing circuit that is in place.
Currently mill feed is from four satellite mines and from the Los Juarez deposit.
RS – NOVEMBER, 2012

14. Puerto Blanco mill, Guanajuato, Mexico showing lined tailings pond
The Company had mined a property in the late 1980s known as “Sierra Guadalupe” in the State of Zacatecas. To our knowledge, there were no documented reports of on the geology, reserves, or production. Currently, the property is being mined by a third party who is delivering 2.5 to 5% mill feed at a rate of up to 1,000 tpm. They can produce up to 3,000 tpm when underground operations are resumed. USAC claims no reserves at this property.
USAC is sourcing mill feed and Direct Shipping Ore (DSO) for Madero from the Soyatal District in the State of Queretaro, Mexico. The deposit was the third largest producer in Mexico.
Donald E. White (U. S. Geological Survey Bulletin 960-B, Antimony Deposits of Soyatal District, State of Queretaro, Mexico, 1948) prepared an extensive report and said that the production (p. 40) was estimated through 1943 at 25,630 metric tons of metal contained. USAC has an option to buy this property but claims no reserves.
RS – NOVEMBER, 2012

15. Total Pounds of Antimony
SOURCE OF ANTIMONY
2008
2009
2010
2011
2012 YTD
Thompson Falls Smelter Pounds of Antimony Contained
1,142,681
908,144
1,364,485
1,179,973
739,909
Madero Smelter Pounds of Antimony Contained
n/a
66,212
59,152
221,450
242,441
Total Pounds of Antimony
974,356
1,423,637
1,401,423
982,351
Gross Revenues
$3706,240
$2,567,107
$6,174,062
$10,406,636
$6,678,725
Gross Profit
$442,848
$505,582
$903,560
$1,556,013
$300,097
RS – NOVEMBER, 2012

16. Aerial view of Antimony, Silver and Gold Smelter
SMELTING
Aerial view of Antimony, Silver and Gold Smelter
THOMPSON FALLS SMELTER, MONTANA
The Thompson Falls smelter produces antimony oxide, metal, and antimony tri-sulfide from sources around the world including the Madero smelter in Mexico.
Using antimony metal as a feed, the plant is capable of producing 12,000,000 ppy (pounds per year) of finished oxide.
RS – NOVEMBER, 2012

17. MADERO SMELTER, COAHUILA, MEXICO
USAC is in the process of doubling the smelter capacity with the goal of completion by the end of The capacity to produce will depend on the grade of the feed.
With low grade 20-25% feed, the furnaces will produce 2,000 to 3,000 pounds per day (ppd) of contained antimony metal. With high-grade feed, such as flotation concentrates, the plant will produce 8,000 to 10,000 ppd of contained antimony metal. More furnaces will be added in the future if supported by market conditions.
Madero Smelter, Coahuila, Mexico
Smelter feed is being provided by several satellite mines and also by the USAC flotation-gravity mill at Puerto Blanco.
USAC is also sourcing direct shipping ore (DSO) from the San Jose Mines near Wadley, San Luis Potosi, Mexico. The U. S. Geological Survey Bulletin 946-E, San Jose Antimony Mines Near Wadley, State of San Luis Potosi, Mexico, 1946, Donald E. White and Jenaro Gonzales R. prepared an extensive report and said the production through 1943 was 57,612 metric tons of metal contained. USAC claims no reserves at this property.
A natural gas pipeline is being installed that is intended to reduce current fuel costs by 78%. Fuel costs are second only to raw materials.
RS – NOVEMBER, 2012

18. SILVER AND GOLD Sources
Silver and gold is shipped from the Thompson Falls plant from resources in Canada and Europe.
Production
Later this year our silver and gold production will begin on a much larger scale from the Los Juarez deposit in Mexico.
Payment
We are expecting a 92%-94% payment for new precious metal (PM) production.
Costs
The Company expects costs for PM will be minimal to include transportation and in some cases casting. Most of the historic production, that will continue, involves no cost.
SILVER / GOLD
2009
2010
2011
2012 YTD
Ounces Gold Shipped
31.797
72.609
Ounces Silver Shipped
17,472.99
RS – NOVEMBER, 2012

19. BRZ plant, Preston, Idaho.
ZEOLITE OPERATIONS
BEAR RIVER ZEOLITE (BRZ™)
BACKGROUND.
At the Bear River Zeolite (BRZ™) operation, near Preston, Idaho, USAC began mining based on representations by George Desborough (deceased) of the U. S. Geological Survey.
The zeolite is regarded as one of the best zeolites due to its high cation exchange capacity, low sodium content, hardness, and uniformity.
BRZ plant, Preston, Idaho.
BRZ™ has shipped 9,313 tons of zeolite through 3Q 2012 resulting in $2,002,546 revenues and a gross profit of $126,238.
RS – NOVEMBER, 2012

20. Raymond roller mill, BRZ™ plant, Preston, Idaho.
BRZ™ open pit loading zeolite.
MINING Mining is performed on open cut benches using an air track for drilling and blasting, loading with a Caterpillar 988 or excavator, and hauling with Cat 769 trucks.
Raymond roller mill, BRZ™ plant, Preston, Idaho.
PROCESSING PLANT The plant includes a conventional closed-circuit primary crusher, rotary dryers, tertiary crushing, high-frequency three-deck screens, a 6058 Raymond roller mill, blending equipment, and semi-automatic bagging equipment. The plant capacity is dependent on product sizes and blending but varies from 300 to 500 tpd.
RS – NOVEMBER, 2012

21. USES The products are sold in the United States and throughout the world. Markets include water filtration, soil amendments, animal nutrition, waste-water treatment, odor control, hydrogen sulfide gas control, nuclear remediation, pozzolan, plastic fillers, grout, ammonia control in underground mining operations, heavy metal and ammonia removal from water, remediation of produced water from oil and gas wells, mine remediation, and many others.
Zeolite Production
2008
2009
2010
2011
2012 YTD
Tons Shipped
12,109
11,519
15,319
12,105
9,313
Average Price per Ton
$131.79
$133.37
$157.71
$168.83
$215.03
Gross Revenues
$1,570,747
$1,536,233
$2,415,955
$2,043,641
$2,002,546
Gross Profit
($185,981)
$16,882
$470,172
$118,185
$126,238
RS – NOVEMBER, 2012

22. USAC MANAGEMENT TEAM USAC BOARD OF DIRECTORS
Gary Babbitt (Boise, Idaho)
John C. Lawrence (Thompson Falls, MT.)
Russell C. Lawrence (Deary, ID)
Hart W. Baits (Missoula, MT)
Whitney H. Ferer (Omaha, Nebraska)
Bernard J.Guarnera (Denver, Colorado)
CORPORATE OFFICERS
John Lawrence: President and CEO
Matt Keane: Director Sales
Alicia Hill; Secretary
Dan Parks: CFO
Russell C. Lawrence: Director Latin America
John C. Gustavsen: Executive Vice President
CORPORATE COUNSEL
Paul Boyd, Stoel Rives, LLP (Boise, ID.)
AUDITORS
Decoria, Maichel, & Teague (Spokane, WA.)
TRANSFER AGENT
Columbia Stock Transfer Company (Post Falls, ID)
ANTIMONY, THOMPSON FALLS, MT.
Marilyn Sink: Plant Manager
Lance Sink; Assistant Manager
Matt Keane: Director Sales
Tony Lyght: Maintenance Foreman
ZEOLITE,PRESTON,IDAHO
Angie Bengtson: Office Manager, Quality Control, Safety Engineer
Penny Avery: Assistant Office Manager
Gerardo Sanchez: Plant Manager
Dave Cole: Mine Manager
MEXICO OPERATIONS
Russell C. Lawrence: Director
Jose Jesus Heriberto Torres Montes: Superintendent
Ricardo Martinez Aguilera: Chief Metallurgist
Rafael Morales Rivera: Flotation Mill Metallurgist
Reynaldo Angles: Mine Manager Los Juarez
RS – NOVEMBER, 2012

23. www.usantimony.com and www.bearriverzeolite.com
UNITED STATES ANTIMONY CORPORATION
PO Box 643
Thompson Falls, Montana 59873
Phone: Fax:
NYSE: “UAMY”
and
Reclaimed tailings pond Thompson Falls, Montana USAC is environmentally conscientious
RS – NOVEMBER, 2012

24. Forward-Looking Statements
This presentation 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 relating to the Company’s operations, pending contracts and future revenues. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, USAC 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 materialy are discussed in the Company’s most recent filings, including Form 10-KSB as filed with the Securities and Exchange Commission.
RS – NOVEMBER, 2012