Sterling Mining Company
OTC Bulletin Board : SRLM

Sterling Mining Company

September 13, 2007 15:44 ET

Sterling Begins Drifting on Silver Mineralization Exposed by Cross-Cutting at Sunshine Mine

WALLACE, IDAHO--(Marketwire - Sept. 13, 2007) - Sterling Mining Company (OTCBB:SRLM)(FRANKFURT:SMX) today reported that its mining crews have completed over 230 feet of drifting on a new portion of the Sunshine vein, that has been accessed from the new Sterling Tunnel and which was exposed during exploration cross-cutting in June and July.

Sampling by Sterling's geologists to date indicate a vein grade of 33.7 ounces per ton over an average of 0.9 feet true vein width for the entire length of the exploration drift.

Raymond De Motte, President stated "This initial result is very exciting, and adds to our projections that there is ore in the Upper Country area that has been either inaccessible to date, or not explored due to fragmented land ownership with prior operators. The Upper Country area, which is separate from the lower levels of the Mine and its silver reserves that are the focus of our return to production, is key to our continuing exploration efforts at Sterling".

Sterling's Mine Manager, Mike McLean, also confirmed the arrival of a new fleet of diesel equipment, which consisting of four loaders, an underground dump truck and a single-boom hydraulic drill jumbo, which are being dedicated to the Upper Country exploration efforts.

At the Mine, to date, over 1,350 tons of the material mined in recent drifting has been stockpiled for mill feed. The concentrating Mill is expected to be operational in September. Drifting in the first cross-cut will be advanced 135 feet to the east, intercepting the Polaris Mine 1000 level, and an additional 200 feet to the west. Simultaneously, two diamond drills will continue drilling from the Sterling Tunnel, and more cross-cutting and drifting on this vein structure will commence in September. Another cross-cut 1,000 feet to the east using rail equipment is progressing on schedule as crews are completing a diamond drill station to explore the Yankee Girl vein.

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".

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Cautionary Language and Forward Looking Statements

This press release may contain "forward-looking statements", which are subject to various risks and uncertainties that could cause actual results and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future performance and results. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure documents filed from time to time with the Canadian securities authorities.

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.

Contact Information

  • Sterling Mining Company
    Raymond De Motte
    (208) 699-6097
    Sterling Mining Company
    Monique Hayes
    (208) 699-6097
    CHF Investor Relations
    Cathy Hume
    (416) 868-1079 x231