KELLOGG, Idaho, March 23, 2005 (PRIMEZONE) -- New Jersey Mining Company (OTCBB:NJMC) announces that it has made its first shipment of gold concentrate to Barrick Goldstrike Mines, Inc. near Carlin, Nevada. Two truckloads containing about 23 tonnes of the gold-bearing pyrite flotation concentrate were shipped earlier this week. A purchase order was received from Barrick for 180 tonnes of concentrate.
"It is an important milestone in the progress of a junior mining company to actually achieve production and ship a marketable product," said company President Fred Brackebusch.
Gravity concentrates containing larger, visible particles of gold are also produced in NJMC's mill and these concentrates will be sold in the near future.
Most of the concentrates shipped were produced from ore mined at the Golden Chest mine, with some being produced from the Coleman pit of the New Jersey mine. Mining operations will commence in the next 60 days at the Golden Chest on the Katie Dora vein with the driving of a raise and intermediate drifts, and the ore will be processed as it is mined. New Jersey operates the Golden Chest mine under a lease agreement with Metaline Contact Mines (OTCBB:MTLI). Once production commences, it is planned that about one truckload on concentrate will be shipped per month.
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 mineral properties in the Coeur d'Alene Mining District including the New Jersey mine, the Silver Strand mine, the Golden Chest mine, the CAMP project, the Scotch Thistle project, and the Silver Button project.
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.