SOURCE: New Jersey Mining Co.

June 24, 2010 10:56 ET

New Jersey Mining Company Drills 864 Gram/Tonne Gold Intercept

KELLOGG, ID--(Marketwire - June 24, 2010) -  New Jersey Mining Company (OTCBB: NJMC) 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.

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