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News Releases
| | June 26, 2007
Sterling Finalizes Preparations For Upper Mine Exploration Cross-Cut
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| | Wallace, Idaho -- June 26, 2007 -- (BUSINESS WIRE) -- Sterling Mining Company (OTCBB: SRLM) today reported that Sterling crews are preparing for continued development of an exploration cross-cut, at an elevation of 2,672 feet, east of the historic Polaris Mine workings in the upper mine area of the Sunshine Mine.
The cross-cut's advance was interrupted briefly upon the completion of the Sterling Tunnel Project to allow geologists to map and evaluate newly exposed structures and make a smooth transition from contractor to in-house mining. The cross-cut is designed to probe unexplored projections of the Sunshine vein system east of the known production areas and, at the same time, provide a platform for diamond drilling into the Yankee Girl vein some 1,200 feet south of the Sunshine system. Zones of alteration and mineralization have been identified and are being studied to guide exploration efforts.
"We are working to open up a stretch of ground that had multiple siderite-quartz veins on the Polaris Mine 900 level, some 100 feet above us," stated Jeff Moe, Sunshine Chief Geologist. "This work also puts us within striking distance of the Yankee Girl vein which our drilling probed from the Silver Summit side in 2006 and which is unexplored out in front of us for a strike length of over 3,000 feet."
Advancing the cross-cut is expected to resume in early July and is only one of the several major projects that are unfolding simultaneously at the mine.
Sterling Mining Company's workforce at the Sunshine Mine has grown to 66 full-time employees, and is projected to reach over 100 by the end of this year as production resumes, currently forecasted for no later than December 2007.
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) 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. 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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| | You can view the Next News Releases item: Thu Aug 2, 2007, Sterling Mining Completes Private Placements And Receives Conditional Approval For Toronto Stock Exchange Listing
You can view the Previous News Releases item: Tue May 29, 2007, Sterling Advances Lower Mine Development At The Sunshine Mine
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