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News Releases
| | November 27, 2006
Sterling Mining Continues Workforce Expansion as Mill Renovation Starts at the Sunshine Mine
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| | Wallace, Idaho - November 27, 2006 - (BUSINESS WIRE) - Sterling Mining Company (OTC: SRLM) today announced progress made at the Sunshine Mine as the Company prepares to return the Sunshine Mine to sustainable long-term production. The number of Sunshine Mine employees has grown to thirty and includes a new Operations Supervisor and Mining Engineer. Sterling has added key personnel since January in order to keep up with the expanding number of projects involved. The recently completed revitalization of the Mine's boilers and steam heating distribution system now permit work to proceed on renovating the Mill's processing facilities over the next several months.
According to Mike McLean, Sterling's mine manager, the increase in employees has been steady throughout the year. "We started the year with eight of us and have been adding experienced, key employees based on our needs for their individual skill sets. The entire crew is instrumental in the employee selection process. By considering the opinions of the crew before we hire we're able to make the Sunshine Mine a true team effort."
Current projections are for production to begin at Sunshine Mine sometime in the fourth quarter of 2007 or first quarter of 2008. While Sterling's Phase III Mine Plan is being reviewed by the firm of Behre Dolbear as part of a final feasibility report, Sterling is continuing to execute on the key components of its ongoing work projects to return the mine to operational status.
A considerable number of vital projects have been completed at the Mine to date. Among them are: installing new transformers and re-establishing 13,200 volt power, lighting and ventilation in the Silver Summit (Con Sil) hoist room; revitalizing fire suppression systems at the processing plant and warehouse; updating the Jewell "chippy" hoist emergency braking system; and rehabilitating the Polaris drift to the historic Polaris 1000 level.
New work projects include: establishing required refuge areas on Jewell shaft 2500, 2700 and 3100 levels to allow work on the mine pump column and pump rooms; rehabilitating and re-railing of the Polaris 1000 level to begin the advance toward the Sterling Tunnel and create diamond drill stations there for both long and short range drilling; and accelerating work on the Silver Summit hoist as new replacement equipment arrives.
About Sterling Mining Company
Sterling Mining Company controls the historically significant Sunshine Mine and related exploration lands in the Silver Valley of North Idaho. The Company also holds several silver properties in Mexico, including the producing Barones Tailings Project in the Zacatecas silver district. Shares of Sterling Mining trade on the OTC Bulletin Board under the symbol "SRLM" and also on the Frankfurt Stock Exchange, trading symbol "SMX".
FOR FURTHER INFORMATION, visit the Company's renewed 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
Cathy Hume, CEO
Tel: (416) 868-1079 x231
cathy@chfir.com
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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