Sterling Mining Company
OTC Bulletin Board : SRLM
FRANKFURT : SMX
TSX : SMQ

Sterling Mining Company

March 04, 2008 13:32 ET

Sterling Mining Celebrates TSX Opening and Updates Current Status

WALLACE, IDAHO--(Marketwire - March 4, 2008) - Sterling Mining Company (TSX:SMQ)(OTCBB:SRLM)(FRANKFURT:SMX) was profiled on February 27, 2008 at the Toronto Stock Exchange to celebrate its listing where Ray De Motte and company representatives opened the market in Toronto. The ceremony coincides with the Prospectors and Developers Association of Canada's Annual Convention (PDAC) at which Sterling is an exhibitor (booth 3141) and where over 18,000 delegates are expected to attend.

To view a photo of the bell ringing, please visit the following link: http://media3.marketwire.com/docs/smq0304.pdf

As part of the listing ceremony, Sterling was featured in an interview with the Canadian news channel CP24, followed by a reception at the TSX with invited guests and members of the Toronto brokerage community. Ray De Motte was also interviewed by BNN on Monday, March 3, 2008. Pictures from the listing ceremony are available at www.sterlingmining.com.

After the successful achievement of its goal to resume production in December 2007, Sterling has set 2008 to be a pivotal year as the Company expects to become an important primary silver producer. With the re-start of the Sunshine mine accomplished, Sterling is expecting to process over 120,000 tons of silver ore in 2008. Sterling's 2007 NI 43-101 technical report forecasts 2.8 million ounces of silver production in 2008.

The Company will report on production milestones as the year progresses along with quarterly operating results.

In 2008, focus at the Sunshine Mine will remain on steadily increasing production from the 2700 and 3100 levels. The Company's mine plan incorporates continuing development of these levels to be followed by rehabilitation and development from the 3700 level to achieve production targets of 250,000 tons per year to maximize mill throughput.

Sterling Mining will continue an aggressive multi-year exploration program targeting both the upper country and lower areas to expand the mine's potential, including under-explored areas of the mine at deeper levels.

Sterling Mining Company now controls over 60,000 acres of silver prospects in Idaho, Montana and Mexico offering additional exploration potential.

Ray De Motte commented: "The Sterling Mining team is focused on aggressively developing the mines' resources and maximizing the value of this operation for our shareholder's benefit. Our production and growth initiatives now underway come at a time of strong silver prices, which are forecasted to remain strong throughout 2008".

About Sterling Mining Company

Sterling Mining controls the Sunshine Mine, which began initial 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 TSX under the symbol "SMQ"; on the OTCBB under the symbol "SRLM"; and also on the Frankfurt Stock Exchange under the trading symbol "SMX".

To receive Sterling news via email, please email sarah@chfir.com and specify "SMQ news" in the subject line.

Mr. Derek Rance P.Eng, of Behre Dolbear & Company, Inc., qualified person under NI 43-101, supervised the preparation of the technical information contained in this press release. Mr. Rance is independent of the Company. For complete and additional information regarding the technical aspects discussed in this press release, including disclosure with respect to assumptions and parameters regarding the future production estimates discussed herein, the reader is referred to Sterling's technical report with respect to the Sunshine Mine, available at www.sedar.com.

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. 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
    President
    (208) 699-6097
    or
    Sterling Mining Company
    Monique Hayes
    Marketing/Communications
    (208) 699-6097
    Website: www.SterlingMining.com
    or
    CHF Investor Relations
    Alison Tullis
    Account Manager
    (416) 868-1079 x233
    Email: alison@chfir.com
    Website: www.chfir.com