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KELLOGG, IDAHO. New Jersey Mining Co. (NJMC
- OTC Bulletin Board) would like to update shareholders on
the current status of its activities. New Jersey Mining Company
is engaged in exploring for and developing gold, silver and
base metal ore reserves in the Coeur d'Alene Mining District
of northern Idaho also known as the Silver Valley- one of
the world's richest silver districts. New Jersey holds a portfolio
of three mineral properties within this rich district- the
New Jersey mine, the CAMP project and the Wisconsin/Teddy
project.
New Jersey plans to adopt a phased approach to the construction
of it's concentrator expansion project. Construction has been
suspended for about 1.5 years due to the depressed gold and
silver markets. Currently, NJMC has enough capital to complete
construction of the expansion building structure. Construction
is planned for this summer. Any additional construction progress
will be determined by the availability of funds.
New Jersey is in the process of obtaining exploration and
other data from the operator of the CAMP Project - Silver
Valley Resources ( a JV between ASARCO and Coeur d'Alene Mines).
New Jersey believes that the CAMP is an attractive silver
exploration property. Sunshine Mining has announced the development
of a ramp toward the ConSil area which is adjacent to the
CAMP project.
In accordance with the NASD's new listing requirements for
OTC Bulletin Board stocks, New Jersey plans to begin filing
with the SEC by early 2000.
Disclaimer: This press release may contain
forward-looking statements within the meaning of Section 27A
of the Securities Act and Section 21E of the Exchange Act. Forward-looking
statements are inherently subject to risks and uncertainties,
many of which cannot be predicted with accuracy, and some of
which might not even be anticipated. | 
