latest news releases from the newsroom
New Jersey Mining Company
New Jersey Mining Company and Newmont Propose to Form Joint Venture
KELLOGG, Idaho, Feb. 6, 2008 (PRIME NEWSWIRE) -- New Jersey Mining Company (OTCBB:NJMC) is pleased to announce that it has signed a term sheet with Newmont North American Exploration Limited, a subsidiary of Newmont Mining Corporation (NYSE:NEM), under which the parties propose to create a joint venture to explore for gold deposits within a 38 square mile area north of Murray, Idaho. The proposed joint venture is subject to a 60-day title due diligence period by Newmont and will require the parties to negotiate final terms and prepare, approve and execute a definitive joint venture agreement. The joint venture will cover all of NJMC's mining claims within this area except the Niagara property. Under the proposed terms, Newmont can earn a 51% interest in the joint venture by spending $2,000,000 over three years, and Newmont can increase its interest to 70% by spending an additional $10,000,000 or completing a feasibility study in the years four through seven, whichever comes first. The joint venture will be named the Toboggan Project.
AbsoluteSKY Completes Round of Highly Successful Field Testing
MONTREAL, Feb. 6, 2008 (PRIME NEWSWIRE) -- AbsoluteSKY, Inc. (Pink Sheets:ABSY) has successfully completed an intense round of field testing of its intelliTRACKER(tm) Product Suite in conjunction with potential customers having particularly demanding environmental conditions.