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Re: News Release - Tuesday, 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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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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