Trading Symbol - NJMC
Stock Exchange - OTCBB

 
 
 September 2, 1999
 New Jersey Mining Company Significant Geologic Information
 
 

KELLOGG, IDAHO. Kellogg, Idaho. New Jersey Mining Company has received results of geologic studies conducted at the University of Alberta which indicate that the quartz-gold veins on its property have deep-seated potential. The highly productive silver and base metal veins in the Coeur d'Alene Mining District were formed by circulating hot water solutions at mesothermal or medium temperature conditions. The veins are characteristically deep-seated. Ore shoots have been followed from the surface to thousands of feet in depth at several historic mines. The Coleman vein at the New Jersey mine is one of the few quartz-gold veins in the district.

Recently completed fluid inclusion studies are quite important to assessing the potential of the Coleman vein. Fluid inclusions are trapped remnants of the hydrothermal fluids which formed the vein. Fluid inclusions or bubbles are trapped inside quartz crystals. The fluid inclusions are almost identical to silver/lead/zinc veins in the district. However, the carbon dioxide concentration is more concentrated in the Coleman vein inclusions, which is typical for gold mesothermal vein deposits in California and the Canadian Cordillera. The fluids which formed the Coleman vein were in isotopic equilibrium with the host metasediments at approximately 300-350oC, which is typical for all productive vein types in the Coeur d'Alene Mining District and for most quartz-gold mesothermal vein deposits world wide. The Coleman vein fluid geochemistry differs from the main stage quartz-siderite-sulfide veins of the District by its low salinity, nearly pure carbon dioxide saturated fluids, and specific chemical signature.

The significance of these fluid inclusion studies is that ore shoots found in the Coleman vein will likely have great vertical extent, perhaps thousands of feet, because chemical conditions would have been relatively uniform over vertical intervals of thousands of feet. Structural conditions, such as changes in the dip of the vein, and rock types would play significant roles in forming ore shoots. The Coleman vein cuts lower Prichard formation located near the axis of the Moon Creek anticline and thus is in a favorable structural environment. The shape of the Coleman vein is complicated with changes in direction and dip, and branching veins occur. Ore deposits are associated with structural complexity in the District.

Managment thinks that this fluid inclusion study indicates that the Coleman vein has high potential for discovery of additional gold-bearing ore and that ore shoots located will have significant tonnage potential.

New Jersey Mining Company is developing the New Jersey mine in the Coeur d'Alene Mining District of North Idaho. To-date significant gold resources have been identified. Operating permits have been obtained and a mineral processing plant is under construction. New Jersey also owns part of the CAMP area, a silver prospective area near the Coeur and Galena mines.

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.
  
 Further information about New Jersey Mining Company can be reviewed on the website of the Securities and Exchange Commission at www.sec.gov or on the company's website at www.newjerseymining.com
  
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 Contact:
Grant Brackebusch, Vice President
Phone: (208) 783-1032
E-mail: gbrack@newjerseymining.com
Website: www.newjerseymining.com
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