KELLOGG, IDAHO. New Jersey Mining Company (OTCBB:NJMC) has completed approximately 130 meters of the planned 150 meters of exploration ramp at its Golden Chest project near Murray, Idaho. A new quartz vein with visible gold has been discovered in the ramp.

Folding and faulting of the host-rock Prichard formation are more extensive than anticipated, and this is regarded as favorable for development of ore shoots on the veins. Ransome and Calkins (USGS PP 62, 1908) report the occurrence of six quartz veins east of the new quartz vein discovered in the ramp and report that ore shoots are related to folding in the Prichard formation.

The target of the ramp is a high-grade gold intercept (3 meters of 23 grams per tonne gold) drilled by Newmont Exploration Limited in the late 1980's thought to be the offset of the Katie-Dora vein which hosted a majority of the historic gold production at the Golden Chest. Miners should reach the target by the end of this week. The Newmont drill intercept was confirmed by the Company by completing a core hole in the same location, and a quartz vein with sulfides was intersected at the same depth as reported by Newmont. Assays of the intercept are pending.

Further core drilling is being conducted at the Golden Chest mine to test for deeper mineralization. The first of two 500 m deep holes has been drilled down to 275 m at this date, and the hole is penetrating hydrothermally altered quartzite. Drilling at the Enterprise and Scotch Thistle projects has been completed. Assay results from the mineralized sections of the holes from these two projects are also pending.

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.