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<DIV style=margin-left:90pt;width:432pt><P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt><B>UNITED STATES</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><FONT style='font-family:Times New Roman'><B>Washington, D.C. 2054</B></FONT></P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&nbsp;</P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><B>FORM 8-K</B></P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><A name=_gjdgxs /><B>&#160;</B></P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><B>CURRENT REPORT</B></P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><B>&#160;</B></P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B></P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&#160;</P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><B>Date of Report: August 14, 2017</B></P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>(Date of earliest event reported)</P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&#160; </P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><FONT style='border-bottom:1px solid #000000'><B>U.S. PRECIOUS METALS, INC.</B></FONT></P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&#160;(Exact name of registrant as specified in its charter)</P>
<P align=justify style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&#160;</P>
<TABLE align=center style='border-collapse:collapse;border:1pt solid #FFFFFF'><TR><TD valign=top style=width:144pt;padding:4pt><P align=center style='font:10pt Arial;margin:0'><B>Delaware</B></P>
</TD><TD valign=top style=width:153pt;padding:4pt><P align=center style='font:10pt Arial;margin:0'><B>000-50703</B></P>
</TD><TD valign=top style=width:135pt;padding:4pt><P align=center style='font:10pt Arial;margin:0'><B>14-1839426</B></P>
</TD></TR>
<TR><TD valign=top style=width:144pt;padding:4pt><P align=center style='font:10pt Arial;margin:0'>(State or other jurisdiction of incorporation)</P>
</TD><TD valign=top style=width:153pt;padding:4pt><P align=center style='font:10pt Arial;margin:0'>(Commission File Number)</P>
</TD><TD valign=top style=width:135pt;padding:4pt><P align=center style='font:10pt Arial;margin:0'>(I.R.S. Employer I.D. No.)</P>
</TD></TR>
</TABLE>
<P align=justify style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&#160;</P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><B>&#160;309 Cleveland Avenue, Ste. 510</B></P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><B>Fairmont, WV 26554</B></P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&#160;(Address of Principal Executive Offices)</P>
<P align=justify style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&#160;&#160;</P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><FONT style='border-bottom:1px solid #000000'><B>973-610-8532</B></FONT></P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>(Registrant's telephone number, including area code)</P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&#160;</P>
<P align=justify style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&#160;</P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&nbsp;</P>
<P style='font:10pt Helvetica;margin-top:2pt;margin-bottom:2pt;text-indent:-18pt;margin-left:18pt;color:#000000;background-color:#FFFFFF'>[ ]&#160;&#160; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
<P style='font:10pt Helvetica;margin-top:2pt;margin-bottom:2pt;text-indent:-18pt;margin-left:18pt;color:#000000;background-color:#FFFFFF'>[ ]&#160;&#160; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
<P style='font:10pt Helvetica;margin-top:2pt;margin-bottom:2pt;text-indent:-18pt;margin-left:18pt;color:#000000;background-color:#FFFFFF'>[ ]&#160;&#160; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
<P style='font:10pt Helvetica;margin-top:2pt;margin-bottom:2pt;text-indent:-18pt;margin-left:18pt;color:#000000;background-color:#FFFFFF'>[ ]&#160;&#160; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><B>&#160;</B></P>
<P style='font:10pt Helvetica;margin-top:3pt;margin-bottom:3pt;color:#000000;background-color:#FFFFFF'><FONT style='border-bottom:1px solid #000000'><B>Item 1.02 Termination of a Material Definitive Agreement.</B></FONT></P>
<P style='font:10pt Helvetica;margin-top:3pt;margin-bottom:3pt;color:#000000;background-color:#FFFFFF'>(1) the date of the termination of the material definitive agreement, the identity of the parties to the agreement and a brief description of any material relationship between the registrant or its affiliates and any of the parties other than in respect of the material definitive agreement;</P>
<P style='font:10pt Helvetica;margin-top:3pt;margin-bottom:3pt;color:#000000;background-color:#FFFFFF'>(2) a brief description of the terms and conditions of the agreement that are material to the registrant;</P>
<P style='font:10pt Helvetica;margin-top:3pt;margin-bottom:3pt;color:#000000;background-color:#FFFFFF'>(3) a brief description of the material circumstances surrounding the termination; and</P>
<P style='font:10pt Helvetica;margin-top:3pt;margin-bottom:3pt;color:#000000;background-color:#FFFFFF'>(4) any material early termination penalties incurred by the registrant.</P>
<P style='font:10pt Helvetica;margin-top:3pt;margin-bottom:3pt;color:#000000;background-color:#FFFFFF'>(b) For purposes of this Item 1.02, the term material definitive agreement shall have the same meaning as set forth in Item 1.01(b)</P>
<P style='font:10pt Helvetica;margin-top:3pt;margin-bottom:3pt;color:#000000;background-color:#FFFFFF'>&nbsp;</P>
<P style='font:10pt Helvetica;margin-top:3pt;margin-bottom:3pt;color:#000000;background-color:#FFFFFF'><A name=_Aci_Pg1 />&nbsp;</P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><FONT style='border-bottom:1px solid #000000'><B>Breach of&#160; Joint Venture Agreement</B>.</FONT></P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&#160;</P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>On January 10, 2017 (&#8220;Effective Date&#8221;), with and fully ratified as amended on March 27, 2017, the Company entered into a Joint Venture And Exploration, Development And Mine Operating Agreement (&#8220;JV Agreement&#8221;) with Marigold Minerals Holdings, LLC, a Nevada company (&#8220;Marigold&#8221;).</P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&#160;</P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>On July 5<SUP>,</SUP> 2017, the CEO and Chairman of U.S. Precious Metals, Paul &#8220;Mike&#8221; Muncy met at the headquarters office of Marigold Minerals &amp; Holdings, LLC&#160;&#160; with its President and Executive Secretary and at that time hand delivered Notice of Breach of the Joint Venture Exploration Exploitation &amp; Mine Operating Agreement by and between the parties entered into on January 10<SUP>th</SUP> 2017, <FONT style=color:#222222>with and fully ratified on March 27, 2017.&#160;</FONT></P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><FONT style=color:#222222>&#160;</FONT></P>
<P style='font:10pt Helvetica;margin:0;color:#222222;background-color:#FFFFFF'>The July 5<SUP>,</SUP> 2017, Notice of Breach made specific note that Marigold is in substantial breach of the covenants and conditions as set forth in the subject JV Agreement, including but not limited to:<BR><BR>a) Marigold is not now a legal entity under in the State of Nevada.&#160; It is not afforded the protections of a corporation or ability to act as a legal entity, and has failed to remain in &quot;good standing&quot; as a corporation with the state wherein it was incorporated, during the pendency of the JV Agreement.&#160;<BR><BR>b) Failure of Marigold to satisfy certain obligations as stipulated to in the JV Agreement and delineated in Schedule F, included therein and made part thereof that agreement have not been performed, constituting a breach.&#160;<BR><BR>c) Marigold has failed to satisfy other conditions as defined in the JV Agreement, specifically Sections 2.2,&#160; 2.3,&#160; 3.1(a), 3.1(b), 3.1(f), 3.5, 5.1, 7.2, 9.1, 9.2, 9.3, 10.1 and others. Additionally, Marigold, as of the 4<SUP>th</SUP> day of August, 2017, has failed to make 2017 payments to the Mexican Department of Economies and thereby further failed to cure the notice of breach as delivered on July 5<SUP>th</SUP>, 2017.<BR><BR>d) The subject agreement fails to properly define the business entities that are entering into and are subject to the terms and conditions of the agreement.&#160;<BR><BR>e) Marigold as a US company is barred by Mexican Statute to conduct business, hold bank accounts, have employees, own or hold or mine mineral leases in the country of Mexico.&#160;<BR></P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><FONT style=color:#222222>At the time of noticing the breach on the part of Marigold, the parties agreed that the breaches were serious, factual and material and directly affected the purpose of entering into the Joint Venture Agreement. By the end of the meeting, the parties agreed to a 30 day cure period to correct the outstanding defaults by Marigold that were comprising the multiple breeches. The notice of breach was delivered on July 5<SUP>th</SUP> 2017 and the agreed thirty day cure period ended August 4<SUP>th</SUP> 2017. </FONT></P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><FONT style=color:#222222>&#160;</FONT></P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><FONT style=color:#222222>Between this time, Marigold failed to do anything cure the breaches pointed out in the July 5<SUP>th</SUP> Notice of Breach.</FONT></P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&#160;</P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>On August 4, 2017 USPR issued a Notice of Failure to Cure Breach, and that it (Marigold)<FONT style=color:#222222> has not performed in any substantial manner to meet its obligations of the Joint Venture and has basically destroyed the essential objectives of the Agreement.&#160; </FONT></P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><FONT style=color:#222222>&#160;</FONT></P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><FONT style=color:#222222>The August 4, 2017 Notice of Failure to Cure Breach stated Marigold had not corrected or fix the breaches, and for these reasons this Joint Venture Agreement was terminated effective immediately upon delivery of this second notice to the breaching party, Marigold, which notice occurred by courier, on August 7<SUP>th</SUP>, 2017.</FONT></P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><A name=_Aci_Pg2 /><FONT style=color:#222222>&#160;</FONT></P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><FONT style=color:#222222>On August 11<SUP>th</SUP>, 2017, pursuant to the termination of the USPR-Marigold agreement which occurred on August 7<SUP>th</SUP>, 2017, USPR&#8217;s senior executive officer and Marigold&#8217;s senior executive officer met in person to resolve any outstanding matters. At that time, USPR decided in lieu of bringing forth litigation against Marigold for breach, the parties would enter into an &#8220;Agreement to Dissolve Joint Venture&#8221; and USPR would not pursue Marigold for damages and Marigold would not attempt to meddle in any manner into USPR&#8217;s business dealing or interest, including but not limited to the Tentory lease and its issues.</FONT></P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><FONT style=color:#222222>&#160;</FONT><BR>&#160;</P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>SIGNATURE</P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&#160;</P>
<P align=justify style='font:10pt Helvetica;margin:0;text-indent:36pt;color:#000000;background-color:#FFFFFF'>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </P>
<P style='font:10pt Helvetica;margin:0;text-indent:36pt;color:#000000;background-color:#FFFFFF'>&#160;</P>
<P style='font:10pt Helvetica;margin:0;text-indent:36pt;color:#000000;background-color:#FFFFFF'>&#160;</P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'><B>US PRECIOUS METALS, INC.</B></P>
<P align=center style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>(Registrant)</P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&#160;</P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&#160;</P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>/s/ PAUL &#8220;MIKE&#8221; MUNCY</P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>Chief Executive Officer<BR></P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&#160;</P>
<P style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>Date: August 14, 2017</P>
<P align=justify style='font:10pt Helvetica;margin:0;color:#000000;background-color:#FFFFFF'>&#160;</P>
<P style='font:10pt Times New Roman;margin:0;background-color:#FFFFFF'><FONT style='font:10pt Helvetica'>&#160;</FONT></P>
</DIV>
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 2054
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: August 14, 2017
(Date of earliest event reported)
U.S. PRECIOUS METALS, INC.
(Exact name of registrant as specified in its charter)
Delaware
000-50703
14-1839426
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer I.D. No.)
309 Cleveland Avenue, Ste. 510
Fairmont, WV 26554
(Address of Principal Executive Offices)
973-610-8532
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.02 Termination of a Material Definitive Agreement.
(1) the date of the termination of the material definitive agreement, the identity of the parties to the agreement and a brief description of any material relationship between the registrant or its affiliates and any of the parties other than in respect of the material definitive agreement;
(2) a brief description of the terms and conditions of the agreement that are material to the registrant;
(3) a brief description of the material circumstances surrounding the termination; and
(4) any material early termination penalties incurred by the registrant.
(b) For purposes of this Item 1.02, the term material definitive agreement shall have the same meaning as set forth in Item 1.01(b)
Breach of  Joint Venture Agreement
.
On January 10, 2017 ("Effective Date"), with and fully ratified as amended on March 27, 2017, the Company entered into a Joint Venture And Exploration, Development And Mine Operating Agreement ("JV Agreement") with Marigold Minerals Holdings, LLC, a Nevada company ("Marigold").
On July 5
,
2017, the CEO and Chairman of U.S. Precious Metals, Paul "Mike" Muncy met at the headquarters office of Marigold Minerals & Holdings, LLC   with its President and Executive Secretary and at that time hand delivered Notice of Breach of the Joint Venture Exploration Exploitation & Mine Operating Agreement by and between the parties entered into on January 10
th
2017,
with and fully ratified on March 27, 2017.
The July 5
,
2017, Notice of Breach made specific note that Marigold is in substantial breach of the covenants and conditions as set forth in the subject JV Agreement, including but not limited to:
a) Marigold is not now a legal entity under in the State of Nevada.  It is not afforded the protections of a corporation or ability to act as a legal entity, and has failed to remain in "good standing" as a corporation with the state wherein it was incorporated, during the pendency of the JV Agreement.
b) Failure of Marigold to satisfy certain obligations as stipulated to in the JV Agreement and delineated in Schedule F, included therein and made part thereof that agreement have not been performed, constituting a breach.
c) Marigold has failed to satisfy other conditions as defined in the JV Agreement, specifically Sections 2.2,  2.3,  3.1(a), 3.1(b), 3.1(f), 3.5, 5.1, 7.2, 9.1, 9.2, 9.3, 10.1 and others. Additionally, Marigold, as of the 4
th
day of August, 2017, has failed to make 2017 payments to the Mexican Department of Economies and thereby further failed to cure the notice of breach as delivered on July 5
th
, 2017.
d) The subject agreement fails to properly define the business entities that are entering into and are subject to the terms and conditions of the agreement.
e) Marigold as a US company is barred by Mexican Statute to conduct business, hold bank accounts, have employees, own or hold or mine mineral leases in the country of Mexico.
At the time of noticing the breach on the part of Marigold, the parties agreed that the breaches were serious, factual and material and directly affected the purpose of entering into the Joint Venture Agreement. By the end of the meeting, the parties agreed to a 30 day cure period to correct the outstanding defaults by Marigold that were comprising the multiple breeches. The notice of breach was delivered on July 5
th
2017 and the agreed thirty day cure period ended August 4
th
2017.
Between this time, Marigold failed to do anything cure the breaches pointed out in the July 5
th
Notice of Breach.
On August 4, 2017 USPR issued a Notice of Failure to Cure Breach, and that it (Marigold)
has not performed in any substantial manner to meet its obligations of the Joint Venture and has basically destroyed the essential objectives of the Agreement.
The August 4, 2017 Notice of Failure to Cure Breach stated Marigold had not corrected or fix the breaches, and for these reasons this Joint Venture Agreement was terminated effective immediately upon delivery of this second notice to the breaching party, Marigold, which notice occurred by courier, on August 7
th
, 2017.
On August 11
th
, 2017, pursuant to the termination of the USPR-Marigold agreement which occurred on August 7
th
, 2017, USPR's senior executive officer and Marigold's senior executive officer met in person to resolve any outstanding matters. At that time, USPR decided in lieu of bringing forth litigation against Marigold for breach, the parties would enter into an "Agreement to Dissolve Joint Venture" and USPR would not pursue Marigold for damages and Marigold would not attempt to meddle in any manner into USPR's business dealing or interest, including but not limited to the Tentory lease and its issues.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
US PRECIOUS METALS, INC.
(Registrant)
/s/ PAUL "MIKE" MUNCY
Chief Executive Officer
Date: August 14, 2017