KELLOGG, IDAHO. New Jersey Mining Company (Symbol: NJMC - OTC Bulletin Board) is pleased to report that its has intercepted high-grade gold and silver mineralization at its recently completed core drilling program at the Silver Strand mine in northern Idaho. DDH02-04 hit 1.6 meters (5.1 feet) of 10.63 grams per tonne (gpt) gold and 505.5 gpt silver.

Assays have been received for two of the five holes drilled and they are summarized below (opt = ounces per short ton):

On an equivalent gold basis, the grade of the DDH02-04 vein intercept is 0.51 ounces per ton. Likewise, on an equivalent silver basis, the grade is 37.5 ounces per ton. The mineralization has a high sulfide content including the minerals pyrite, arsenopyrite, tetrahedrite and galena. NJMC President Fred Brackebusch commented on the results, “The drilling program at the Silver Strand has proven that gold-silver mineralization extends for more than 40 meters below the adit level thus indicating that a significant high-grade resource could be present."

The Silver Strand mine is a silver-gold vein hosted in the prolific silver-producing Revett formation of the Coeur d’Alene Mining District. The Silver Strand is located on the western margin of the district. From 1978 to 1981 the Silver Strand produced 13,752 tons of ore grading 0.093 ounces per ton (opt) gold and 9.6 opt silver.

NJMC completed approximately 250 meters of core drilling among five holes at the Silver Strand by the first of December. The drilling was done from the underground workings at a depth of 100 meters below the surface. The purpose was to extend the mined ore shoot at depth. The first three holes were inclined at 45° downward and fanned out along strike and the last two holes were deeper holes inclined at 60°. Each hole appears to have penetrated the vein demonstrating the continuity of the vein structure at depth, and also possibly indicating an increasing grade at depth. Vein intercepts ranged from 20 to 40 meters vertically below the No. 3 Level.

Geologic mapping and chip sampling of the exposed vein on the No. 3 Level were also completed concurrently with the drilling program.

Samples from the other three holes have been submitted for analysis and results should be available after the first of the year. Samples were obtained by cutting intervals of drill core in half and submitting one-half to ALS Chemex for analysis and retaining one-half for visual inspection.

New Jersey Mining Company is involved in exploring for and developing gold, silver and base metal ore resources in the Coeur d'Alene Mining District of northern Idaho. The Company has a portfolio of five mineral properties in the Coeur d'Alene Mining District: the New Jersey mine, the Silver Strand mine, the Lost Eagle project, the CAMP project and the Wisconsin-Teddy project.