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

U.S. ANTIMONY CORPORATION

JOHN LAWRENCE, CEO

RS – NOVEMBER, 2012

USAC CORPORATE OVERVIEW

2RS – NOVEMBER, 2012

• 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.

47 Cox Gulch RoadThompson Falls, MT 59873

Phone: 406-827-3523Fax: 406-827-3543

Email: [email protected]

www.bearriverzeolite.com

USAC CORPORATE OFFICES AND PLANT

• 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 Q4 2012.

• 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 Q4 2012. This includes completing the Puerto Blanco mill and doubling of the smelter capacity at Madero.

3RS – NOVEMBER, 2012

• 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

ANTIMONY BACKGROUND

WORLD PRODUCTION AND MINE RESERVES 2011 IN METRIC TONS OF METAL

(U. S. Geological Survey, Mineral Industrial Survey, Fourth Quarter 2011)

Source Mine production 2011 Mine reserves5,000 310,000

150,000 950,0003,000 350,0003,000 21,0002,000 50,000

Other Countries 6,000 150,000

World total 169,000 1,800,000

4RS – NOVEMBER, 2012

EXPERIENCE AND PROPRIETARY TECHNOLOGY AND EQUIPMENTUSAC 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.

USES OF ANTIMONY

USES PERCENTAGE

Flame retardants 36

Transportation including batteries 23

Chemicals 16

Ceramics and glass 12

Others 13

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.

INVENTORYUSAC 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.

5RS – NOVEMBER, 2012

PRICINGPricing 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.

02,0004,0006,0008,000

10,00012,00014,00016,00018,000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

TWELVE YEAR AVEAGE ANNUAL ANTIMONY METAL PRICE

CIF U.S.A. PER METRIC TON

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

6RS – NOVEMBER, 2012

USAC has shipped 1,253,248 lbs of antimony through 3Q 2012 resulting in $6,678,725 revenues.

7RS – NOVEMBER, 2012

USAC ANTIMONY DIVISION

MINING

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, pages74-75. 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.

Los Juarez mine face, "Minas Grande West“, is one of five faces, Los Juarez, Queretaro, Mexico.

8RS – NOVEMBER, 2012

LOS JUAREZ PROPERTY, QUERETARO, MEXICO

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.

9RS – NOVEMBER, 2012

Drilling and blasting is establishing faces in the jasperoids. Truckload samples have assayed approximately 2% antimony, 8 ounces of silver and 0.015 ounces of gold per ton. Presently, the Company has more than 8,000 tons of mill feed from Los Juarez.

New paved road to Los Juarez, partially completed entire distance.

The antimony, silver, and gold are recoverable by flotation methods. The concentrate grade will be improved by depressing carbonaceous material in the feed.

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 0.47-1.12% 3.26-6.38 ounces

per metric ton0.006-0.057 ounces

per metric ton

Range of tail assays 0.14-0.51% 0.47-3.33 ounces

per metric ton0.018-0.077 ounces

per metric ton

Range of concentrate assays 32.5-44.4%

270.8-306.86 ounces per metric

ton

0.46-0.6 ouncesper metric ton

Average grade of concentrates 38.6% 288.9 ounces

per metric ton0.548 ouncesper metric ton

Preliminary smelting has indicated good recovery and an excellent product grade.

10RS – NOVEMBER, 2012

11RS – NOVEMBER, 2012

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.

12RS – NOVEMBER, 2012

Pre-crusher circuit Puerto Blanco mill

Vertical shaft impactor (VSI) Puerto Blanco mill

Cone crusher, Puerto Blanco mill

Conveyors at crusher, Puerto Blanco mill

A straight oxide circuit is nearing completion that will have a capacity of 75-100 tpd that can be run simultaneously with the flotation-gravity circuit.

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.

Ball mill Puerto Blanco mill

13RS – NOVEMBER, 2012

Puerto Blanco mill flotation cell

Concentrating table, Puerto Blanco flotation-gravity circuit, showing recovery of oxide (yellow) minerals.

Currently mill feed is from four satellite mines and from the Los Juarez deposit.

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.

14RS – NOVEMBER, 2012

Puerto Blanco mill, Guanajuato, Mexico showing lined tailings pond

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 1,142,681 974,356 1,423,637 1,401,423 982,351Gross 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 $300,09715RS – NOVEMBER, 2012

SMELTING

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. Aerial view of Antimony, Silver and Gold Smelter

16RS – NOVEMBER, 2012

Madero Smelter, Coahuila, Mexico

MADERO SMELTER, COAHUILA, MEXICO

USAC is in the process of doubling the smelter capacity with the goal of completion by the end of 2012. 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. Smelter feed is being provided by several satellite mines and also by the USAC flotation-gravity

mill at Puerto Blanco.

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.

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.

17RS – NOVEMBER, 2012

PAYMENT We are expecting a 92%-94% payment for new precious metal (PM) production.

COSTSThe 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 31.797 102.127 161.711 72.609

Ounces SilverShipped 6870.10 31545.22 17,472.99 16.370.15

SOURCESSilver 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.

SILVER AND GOLD

18RS – NOVEMBER, 2012

ZEOLITE OPERATIONSBEAR RIVER ZEOLITE (BRZ™)www.bearriverzeolite.com

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.

19RS – NOVEMBER, 2012

MININGMining 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.

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.

BRZ™ open pit loading zeolite.

Raymond roller mill, BRZ™ plant, Preston, Idaho.

20RS – NOVEMBER, 2012

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

21RS – NOVEMBER, 2012

USAC MANAGEMENT TEAMUSAC BOARD OF DIRECTORSGary 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 OFFICERSJohn Lawrence: President and CEOMatt Keane: Director SalesAlicia Hill; SecretaryDan Parks: CFORussell C. Lawrence: Director Latin AmericaJohn C. Gustavsen: Executive Vice President CORPORATE COUNSELPaul Boyd, Stoel Rives, LLP (Boise, ID.) AUDITORSDecoria, Maichel, & Teague (Spokane, WA.) TRANSFER AGENTColumbia Stock Transfer Company (Post Falls, ID)

ANTIMONY, THOMPSON FALLS, MT.Marilyn Sink: Plant ManagerLance Sink; Assistant ManagerMatt Keane: Director SalesTony Lyght: Maintenance Foreman

ZEOLITE,PRESTON,IDAHOAngie Bengtson: Office Manager, Quality Control, Safety EngineerPenny Avery: Assistant Office ManagerGerardo Sanchez: Plant ManagerDave Cole: Mine Manager

MEXICO OPERATIONSRussell C. Lawrence: DirectorJose Jesus Heriberto Torres Montes: SuperintendentRicardo Martinez Aguilera: Chief MetallurgistRafael Morales Rivera: Flotation Mill MetallurgistReynaldo Angles: Mine Manager Los Juarez

22RS – NOVEMBER, 2012

UNITED STATES ANTIMONY CORPORATION

PO Box 643Thompson Falls, Montana 59873

Phone: 406-827-3523 Fax: 406-827-3543email: [email protected]

NYSE: “UAMY”

www.usantimony.com and www.bearriverzeolite.com

23RS – NOVEMBER, 2012

Reclaimed tailings pond Thompson Falls, Montana USAC is environmentally conscientious

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.

24RS – NOVEMBER, 2012