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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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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
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