SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Kugler Michael Jack

(Last)

(First)

(Middle)

6 MEADOWCROFT LANE

(Street)

GREENWICH

06830

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
U S PRECIOUS METALS INC [ USPR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/06/2008

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
US Precious Metals, Inc.	06/06/2008		P		14,000⁽¹⁾	A	$0.935⁽²⁾	3,439,465	D
US Precious Metals, Inc.	06/17/2008		P		35,700⁽³⁾	A	$0.895⁽⁴⁾	3,475,065	D
US Precious Metals, Inc.	06/23/2008		P		217,600⁽⁵⁾	A	$0.88⁽⁶⁾	3,692,665	D
US Precious Metals, Inc.	06/27/2008		P		31,100⁽⁷⁾	A	$0.82⁽⁸⁾	3,723,765⁽⁹⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
US Precious Metals, Inc.	$0.9	04/15/2008		A		1,000,000⁽¹⁰⁾		04/15/2008	12/31/2008	US Precious Metals, Inc.	1,000,000	$0	1,000,000	D

Explanation of Responses:

1. Shares purchased in different allotments between the dates of June 6 through June 11, 2008, for a total purchase of 14,000 shares of common stock.

2. The average price per share was .935.

3. Shares purchased in different allotments between the dates of June 17 through June 20, 2008, for a total purchase of 35,700 shares of common stock.

4. The average price per share was .895.

5. Shares purchased in different allotments between the dates of June 23 through June 26, 2008, for a total purchase of 217,600 shares of common stock.

6. The average price per share was .88.

7. Shares purchased in different allotments between the dates of June 27 through June 30, 2008, for a total purchase of 31,300 shares of common stock.

8. The average price per share was .82.

9. 3,533,765 shares of common stock are held directly by filer; 90,000 shares are held in the name of his wife, Barbara V. Kugler; 25,000 shares of common stock are held in trust for his child, Grant Kugler; 25,000 shares of common stock are held in trust for his child, Kathryn Kugler; 25,000 shares of common stock are held in trust for his child, Reid Kugler; 25,000 shares of common stock are held in trust for his child, William Kugler, for a total of 3,723,765 shares.

10. These options were granted under the 2007 Option Plan. This plan and the options granted under it are conditioned upon shareholders approving the plan no later than December 31, 2008. In the event that said approval is not obtained by that date, all grants of options under the plan shall be null and void.

	Michael Jack Kugler	07/28/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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