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News Releases
| | January 23, 2007
Sterling Completes Purchase of Tailings Pond for Sunshine Mine
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| | Wallace, Idaho - January 23, 2007 - (BUSINESS WIRE) - Sterling Mining Company (OTCBB: SRLM) today announced that their purchase of the Big Creek tailings facility as was previously announced (see press release dated Oct. 4, 2006) has been finalized. The Company made its final payment of US$3,900,000 to Essential Metals Corporation (EMC), a wholly-owned subsidiary of Formation Capital, on January 22nd. The agreement conveys ownership and exclusive management of the tailings facility to Sterling Mining.
Sterling's President, Raymond De Motte, stated, "We are proceeding on the remaining refurbishment activities at Sunshine. I am pleased to report that the many projects at the Sunshine Mine are progressing steadily including progress on the Sterling Tunnel. We concur with Formation that this tailings pond purchase is a positive for Idaho's economy and both companies."
The Sunshine Mine is currently forecast to be returned to production by the first quarter 2008.
About Sterling Mining Company
Sterling Mining controls the 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 Company trade on the OTC Bulletin Board under the symbol "SRLM" and also on the Frankfurt Stock Exchange under the trading symbol "SMX".
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
Cathy Hume, CEO
Tel: (416) 868-1079 x231
cathy@chfir.com
To receive Sterling news via email, please email julia@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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| | You can view the Next News Releases item: Tue Feb 13, 2007, Sterling's Marketing Manager, Monique Hayes, Joins the Board of the Idaho Mining Association
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