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News Releases
| | May 29, 2007
Sterling Advances Lower Mine Development At The Sunshine Mine
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| | Wallace, Idaho -- May 29, 2007 -- (BUSINESS WIRE) -- Sterling Mining Company (OTCBB: SRLM) today announced that the Company's Sunshine Mine crews have completed excavation of a major underground electrical substation on the 3100 level of the Sunshine Mine. The substation which is designed to transform 13,200 volt power from the surface into 2400 and 480 volt power is essential to conduct mining activities on 3100 level and 2700 level.
"This is another key step in returning to production by the end of 2007," stated Mike McLean, the Mine Manager. "Not only will we have the required power for development and production activities on these levels, but we will have the power to support production from deeper levels."
Lower mine development was undertaken by Sterling's Sunshine Mine crew on 3100 level in mid-March while the Sterling Tunnel Project was nearing completion using contractor crews. The Sterling crew is now focusing on driving a ventilation drift to augment air circulation on 3100 level.
Atlas Fausett Contracting crews are expected to complete access from the Sterling Tunnel to unmined Sunshine vein projections and old Polaris Mine workings in mid-June. At that time, Sunshine miners will take over mining activities and begin drifting to evaluate mineral potential in the eastern portion of the historic Sunshine-Polaris Intervening Area. Mining in this area stopped in the early 1940's when the Chester Vein on 2700 level was discovered and a shortage of miners occurred due to World War II.
The Sunshine Mine now has 59 employees working to return the Mine to long-term sustainable production by year end.
About Sterling Mining Company
Sterling Mining controls the Sunshine Mine, currently forecasted to begin production in December 2007, 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 or
Monique Hayes, Marketing/Communications
Tel: (208) 699-6097
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. Along with additional underground rehabilitation and restoration of site facilities, the timetable for the continuing work program anticipates production beginning in December 2007. If we are able to stay on schedule with the mine work and obtain the funding, equipment, and qualified operations personnel as needed for the work program, we believe production by December is doable. 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 10-Q and 8-K filings. |
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