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News Releases
| | August 17, 2006
Sterling Mining Adds to Silver Valley Holdings
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| | Wallace, Idaho - August 17, 2006 (BUSINESS WIRE) - Sterling Mining Company (OTC BULLETIN BOARD: SRLM) announced today it has leased an additional 520 acres of unpatented mining claims adjacent to its RC claim group in the southeastern portion of the Silver Valley, Idaho, increasing Sterling's total position in the Silver Valley to 18,220 acres through ownership, lease or option agreements. Sterling has also acquired from New Jersey Mining Company their entire interest in the CAMP project located in the Coeur d'Alene Mining District in Idaho.
This addition of the leased claims in the Silver Valley provides Sterling additional exploration potential for the long term. The claims are considered an early stage prospect. Sterling will develop an exploration program spanning the next few years employing modern geophysical and geochemical exploration techniques.
The Camp Project is now a joint venture of Sterling Mining Co, Merger Mines (OTC: MERG) and U.S. Silver Corporation as operator. It is in the heart of the Coeur d'Alene mining district, located between Coeur d'Alene Mines' and Sterling Mining Company's properties. The interest was acquired for a $120,000 cash payment and provides Sterling a land ownership position and a 7% Net profits interest. Sterling already had an interest in the property which can be accessed via Sterling's Silver Summit tunnel. This acquisition enlarges Sterling's interest in the CAMP Project property.
"Our primary current exploration and development work is focused on our Sunshine Mine project in the "Silver Belt" of the Coeur d'Alene Mining District in Idaho", stated Sterling's President, Ray De Motte. "Sterling has continually sought to expand its land position and exploration potential in this historic mining district through ownership and joint venture. The CAMP project acquisition in particular strengthens our interest in the area."
About Sterling Mining Company
Sterling Mining Company controls the historically significant Sunshine Mine, located in the Silver Valley of Idaho The Company also holds several properties in Mexico, including the Baroness Tailings Project in the Zacatecas silver district, which is in production. Sterling stock trades on the OTC Market under the symbol "SRLM".
FOR FURTHER INFORMATION, visit the Company's website at www.sterlingmining.com or contact:
Sterling Mining Company
www.SterlingMining.com
Raymond De Motte, President
Tel: (208) 666-4070
CHF Investor Relations
www.chfir.com
Mara Strazdins B.Sc.Geol.
Tel: (416) 868-1079 ext. 222
mara@chfir.com
If you would like to receive Sterling news via email, please email Alison@chfir.com and specify "SRLM news" in the subject line.
This press release does not constitute an offer to sell or a solicitation to buy securities, and contains forward looking statements regarding the Company within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements are based on assumptions that the Company believes are reasonable but that are subject to uncertainties and business risks. Actual results relating to any and all of these subjects may differ materially from expected results. Factors that could cause results to differ materially include economic and political events, the ability to raise capital in the financial markets, and other factors discussed in the Company's periodic filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2005. |
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