Trading Symbol - NJMC
Stock Exchange - OTCBB

 
 
 May 6, 2004
 New Jersey Mining Company Begins Drilling Program
 
 

KELLOGG, IDAHO. New Jersey Mining Company (OTCBB:NJMC) announces that it has started its exploration core drilling program for the season with drilling currently underway at the Enterprise prospect near Kellogg. Drilling is planned for the Enterprise, Scotch Thistle and Golden Chest properties.

A sedimentary-exhalative type deposit, similar to the Sullivan orebody is the exploration target at the Enterprise. The Sullivan orebody which is located near Kimberly, B.C. originally contained 145,120,000 tonnes at 6.5% lead, 5.6% zinc and 67 gpt silver. Both the Enterprise and Sullivan are found in the Prichard formation. The first hole at the Enterprise has been completed and intercepted lead and zinc mineralization similar to that encountered in last year’s drilling. Core logging and sample preparation are still to be completed before samples can be submitted to the laboratory for analysis.

At the completion of drilling at the Enterprise, the drill will move to the Scotch Thistle prospect, which is located 1 kilometer southeast of the New Jersey mine, to follow up on an anomalous gold zone discovered in 2003. A single hole drilled last year intercepted 21.1 meters assaying 0.337 ppm gold in a quartzitic unit of the Prichard Formation. Gold is associated with arsenopyrite as the zone is highly anomalous in arsenic.

Two 460 meter deep core holes are also planned at the Golden Chest in Murray, Idaho to validate management’s theory that the gold mineralization was mobilized by a deep heat source and there is reason to believe that multiple gold veins could exist at depth. Currently, a 150 meter exploration ramp is underway at the Golden Chest. A portal has been established and two shifts per day of two miners per shift are advancing the ramp at a rate of about 4 meters per day. Approximately 25 meters of ramp have been completed to date. The target of the ramp is a high grade gold intercept drilled in the late 1980's by Newmont Exploration that cut 22.7 grams per tonne (0.66 ounces per ton) over 3.05 meters (10 feet).

Work continues on the New Jersey mill where the construction of a flotation circuit is in progress. Delivery of the new Dorr-Oliver Eimco flotation cells is expected for mid July. The concentrate filter has already been delivered to Kellogg and a concentrate bin is expected to be at the site in mid May. Initially, gold ore from the New Jersey open pit will be processed by the new circuit. Commissioning of the flotation circuit is expected to start in August.

The Company is still waiting for a decision document from the U.S. Forest Service regarding its Plan of Operations for the Silver Strand mine. A geophysical exploration program is planned for the Silver Strand property to evaluate the potential for additional high-grade ore shoots that may occur along the strike of the geologic structure that hosts the Silver Strand orebody.

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 six mineral properties in the Coeur d'Alene Mining District: the New Jersey mine, the Silver Strand mine, the Golden Chest mine, the Lost Eagle project, the CAMP project and the Wisconsin-Teddy project.

Disclaimer: This release contains certain forward-looking statements within the meaning of the Federal Securities Laws. Such statements are based on assumptions that the Company believes are reasonable but which are subject to a wide range of uncertainties and business risks. Factors that could cause actual results to differ from those anticipated are discussed in the Company's periodic filings with the Securities and Exchange Commission, including its annual report on Form 10-KSB for the year ended December 31, 2003.
  
 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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