WALLACE, IDAHO, June 26 /CNW/ - 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
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
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 see contact below.
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.
For further information:
For further information: Sterling Mining Company Raymond De Motte,
President, 208-666-4070 www.SterlingMining.com or CHF Investor Relations Cathy
Hume, CEO, 416-868-1079 x231 email@example.com www.chfir.com