======================================================================
Re: News Release - Wednesday, August 08, 2007
Sterling in Final Commissioning of Silver Summit Hoist at
Sunshine Mine
======================================================================
Wallace, Idaho - August 8, 2007 - (BUSINESS WIRE) - Sterling Mining
Company (OTCBB: SRLM) today reported that the re-engineered Silver
Summit Hoist is entering the final stage of commissioning. In addition
to performing design and engineering for the power supply, hoist drive
and controls, oversight and testing of the hoist and its safety
features is being provided by Spencer Engineering of Ontario, Canada,
an internationally respected hoist engineering firm, in order to meet
stringent federal mine hoist regulations. The hoist is expected to be
ready for service by mid August.
Raymond De Motte, Sterling's President and CEO, commented "The Silver
Summit Hoist is a major component of our mine plan's critical path to
build production capacity from mining at depth. The Silver Summit Shaft
is required by law as a secondary escapeway for the Sunshine Mine in
accordance with modern safety standards. Once the hoist is commissioned
for full use, we will focus our attention on repairing the Silver
Summit Shaft down to the 3000-foot level to complete the escapeway.
Next we will restore power and services in our Sunshine and West Chance
vein blocks for mechanized mining to resume from the 2700 and 3100-foot
levels."
Initially, hoist operation servicing the Silver Summit Shaft on the
east side of the Sunshine Mine will provide for the movement of
equipment and personnel to the 3000 foot level. As deeper mine
development and exploration is expanded, the service of the hoist will
extend down to the 4000 foot level.
On the west side of Sunshine Mine, the primary Jewell Shaft hoists were
re-conditioned and have been operational since April 2004 down to the
3100 level.
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
Linda Armstrong, Vice President
Tel: (416) 868-1079 x229
linda@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.
======================================================================
Copyright (c) 2007 STERLING MINING CO. (SRLM) All rights reserved.
For more information visit our website at
http://www.sterlingmining.com/ or send mailto:info@sterlingmining.com
Message sent on Wed Aug 8, 2007 at 8:48:52 AM Pacific Time
======================================================================
.
![]()