On December 11, 2008, Mr. Peter Toscano tendered to the board of directors his resignation as director, Secretary and Treasurer of U.S. Precious Metals, Inc. ("USPR"). The resignation was accepted effective immediately. At the time of Mr. Toscano's resignation as director, he did not serve as a member of any committee of the Board of Directors of USPR. In his letter, Mr. Toscano cited as his reason for resigning the present demand of time and effort required of him as Chief Executive Officer, Chairman, Secretary and Treasurer of International Power Group, Ltd. (OTC BB: IPWG.OB). A copy of the December 11, 2008 letter is attached hereto as Exhibit 99.1 and incorporated by reference herein.

On December 15, 2008, USPR issued a press release in which it announced that Peter Toscano resigned from his positions as a director, Secretary and Treasurer of USPR.

A copy of the Press Release, dated December 15, 2008, is attached to this Form 8-K as Exhibit 99.2. Such press release is incorporated by reference into this Form 8-K in its entirety.

    Item 9.01

    (d)   Exhibits

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

         99.1      December 11, 2008 Letter of Resignation of Peter Toscano.

         99.2      Press Release, dated December 15, 2008.