On November 7, 2008, U.S. Precious Metals, Inc. ("USPR") issued a press release in which it announced that, when compared to previous assay data, recent assay data for selected intervals from drill hole number 10 at the Southern Michoacan Mineral concession (the "Southern Michoacan Concession") demonstrated a 12% increase in proven reserves and a 22% increase in probable reserves at the Southern Michoacan Concession.

In addition, on November 10, 2008, USPR issued a press release in which it announced that Michael Floersch of Applied Minerals, Inc., and a "qualified person" within the meaning of National Instrument 43-101 ("NI 43-101"), issued a NI 43-101 compliant technical report. The NI 43-101 technical report is a comprehensive summary of USPR's mineral concession and drilling campaign in Michoacan, Mexico, which focuses on proven and probable ore reserves.

A copy of the Press Release, dated November 7, 2008, is attached to this Form 8-K as Exhibit 99.1. A copy of the Press Release, dated November 10, 2008, is attached to this Form 8-K as Exhibit 99.2. Such press releases are incorporated by reference into this Form 8-K in their entirety.

Item 9.01

(d) Exhibits


             Exhibit Number   Description
             --------------   -----------------------------------

                  99.1        Press Release, dated November 7, 2008.

                  99.2        Press Release, dated November 10, 2008.