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News Releases
| | March 15, 2007
Sterling Mining is Ahead of Schedule at Sunshine Mine; Production Set to Commence December 2007
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| | Wallace, Idaho - March 15, 2007 - (BUSINESS WIRE) - Sterling Mining Company (OTCBB: SRLM) today reported that progress at Sunshine Mine continues and presently is ahead of schedule.
"Adding experienced personnel has enabled us to accelerate progress on various projects at Sunshine Mine, and push us ahead of schedule. To solidify our operational structure, we have also appointed Frank Maciosek Mine Superintendent and Jim Campbell Maintenance Superintendent; Joe Guardipee and Don Williams as Mine Foremen; Steve Gravelle as Electrical Supervisor; and Wayne Chambers as Maintenance Supervisor. The combined experience of these individuals is more than 200 years," said Mike McLean, Mine Manager.
Raymond De Motte, President, commented "We expect to hire 5 to 10 employees each month this year, as demands increase ahead of starting production, which is now forecast for December 2007. It should be noted that this December start date is based on our current projections for delivery schedules of key equipment; recruitment of qualified operations personnel; and securing the requisite funding on schedule, any of which may be subject to change. We currently have 42 employees at the Sunshine Mine."
Progress continues on several fronts simultaneously at the Sunshine Mine:
- advancing the Sterling Tunnel, where there is less than 850 feet to go to connect with the Silver Summit side of the Mine;
- exploration drilling of Upper Country zones from the Sterling Tunnel; approximately 25,000 feet of drilling is planned to complete the initial program;
- driving a new exploration cross-cut from the Polaris 1000 level, which has advanced 30 feet toward target veins;
- equipment and infrastructure renovations for the concentrating facility, including rebuilding the coarse ore feeder and a new power transmission line to the tailings pump house;
- transformer and electrical switchgear are in place and structural non-destructive testing of the Silver Summit hoist have been completed; final engineering and equipment deliveries are in progress.
About Sterling Mining Company
Sterling Mining controls the Sunshine Mine and related exploration lands in the prolific Silver Valley of northern Idaho. The Company also holds several silver properties in Mexico, including the 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, 2006 and subsequent 8-K filings. |
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