KELLOGG, Idaho, Sept. 12, 2007 (PRIME NEWSWIRE) -- New Jersey Mining Company (OTCBB:NJMC) is pleased to announce that the company's exploration program in the Murray, Idaho gold district has produced another gold prospect named the Golden Reward. This is the sixth significant gold find in the district in addition to the Golden Chest mine and Niagara copper-silver deposit. The other five prospects include the Gold Butte, Mineral Ridge, Snowslide, Independence, and Lost Eagle.
A wide zone 245 meters wide by 230 meters long was discovered at the Golden Reward prospect as represented by samples from two soil traverses, various rock outcrops, and float. The uppermost soil sample traverse was 230 meters wide and averaged 0.179 parts per million (ppm) gold. The second soil traverse, which was 230 meters downhill from the first, averaged 0.123 ppm gold across a width of 260 meters. A fragment of high grade float found near the center of the soil anomaly indicates the possible presence of a high grade core. The high grade float contained visible gold and telluride minerals and assayed 67.6 grams per tonne (gpt) gold and 100 gpt silver. No historic prospects have been noted on this new gold find.
Two geophysical surveys have been completed over the Golden Reward zones with results pending. A Plan of Operations for core drilling at the Golden Reward prospect will be submitted to the U.S. Forest Service in the near future.
Company President Fred Brackebusch commented: "The discovery of numerous, significant gold showings in the Murray area indicates that a major gold district is coming to light. The presence of a source system of mostly buried alkaline intrusive rocks is indicated by a geochemical signature including gold, silver, and tellurium, and also some of the intrusive rocks outcrop in the district."
In other news, the Company continues to drill with its new diamond drill at the Golden Chest where the third hole is being drilled. After completion of this hole, the drill will mobilize to the Silver Strand to drill a geophysical anomaly.
New Jersey Mining Company is involved in exploring for and developing gold, silver and base metal 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 Niagara copper-silver deposit, the Golden Chest mine, the New Jersey mine, the Silver Strand mine, and several promising exploration prospects.
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, 2006.
Further information about New Jersey Mining Company and its properties can be found at the company's website at www.newjerseymining.com or reviewed on the website of the Securities and Exchange Commission at www.sec.gov.