June 24, 2010
PRESS RELEASE
New Jersey Mining Company Drills
864 Gram Per Tonne Gold Intercept
Kellogg,
Idaho. New Jersey Mining Company (NJMC: OTCBB)
is pleased to announce that it intercepted a high grade banded vein in the hangingwall of the Idaho fault at the Golden Chest mine near
Murray, Idaho. The intercept in Hole 10-01 was 27 cm of 864.48 grams/tonne gold at a depth
of 58 meters below the surface. In
addition, Hole 10-01 intercepted other mineralization
including the Claggett vein in the footwall of the
Idaho Fault. The Claggett vein intercept was 0.9 m grading 14.7 grams/tonne
gold.
The high grade intercept is within 10 m of
underground workings. The mining
crew and equipment now at the Silver Strand mine will be reassigned immediately
to the Golden Chest to drive a short crosscut to access the banded vein. The diluted mining grade indicated by
the intercept would be greater than 100 grams/tonne gold.
The high grade intercept contained considerable
visible gold. Company geologists
classified the intercept visually and separated it into parts which were
weighed and assayed separately. The
part containing the most visible gold was completely assayed using the standard
lead collection fire assay method. In
total, there were 8 fire assays performed on the interval. Assays were performed by American
Analytical Services and Chris Christopherson,
Inc. Both labs are routinely used
for production and dore'
assaying for the Company's mineral processing plant and results tie with good
agreement into metallurgical balance and sales results.
New Jersey Mining Company is involved in
exploring for and developing gold, silver and base metal resources in the Coeur
d'Alene Mining District of northern Idaho. New Jersey Mining Company has a
portfolio of mineral properties in the Coeur d'Alene Mining District including
the Toboggan project, the Niagara copper-silver deposit, the Golden Chest
project, the New Jersey
mine, and the Silver Strand mine. The
New Jersey mine includes a fully-permitted flotation mill and concentrate
leach plant.
This release contains "forward-looking
statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended that are intended to be covered by
the safe harbor created by such sections. Such
statements are based on good faith assumptions that New Jersey Mining Company
believes are reasonable but which are subject to a wide range of uncertainties
and business risks that could cause
actual results to differ materially from future results expressed, projected or
implied by such forward-looking statements. Factors that could cause
actual results to differ from those anticipated are discussed in New Jersey
Mining Company's periodic filings with the Securities and Exchange Commission.
Further information about New Jersey Mining
Company and its properties can be found at the company's website at www.newjerseymining.com .
Contact: Grant
Brackebusch, Vice President
Phone (208) 783-1032
E-mail:ir@newjerseymining.com
Website:
www.newjerseymining.com