News Release - Monday, January 08, 2007
Sterling Tunnel Reaches Halfway Mark as Upper Country Drilling
Continues
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Wallace, Idaho - January 8, 2006 - (BUSINESS WIRE) - Sterling Mining
Company (OTCBB: SRLM) today reported that the main heading of the
Sterling Tunnel at the Sunshine Mine has passed the halfway mark ahead
of schedule on its advance to connect with the Polaris Drift-Silver
Summit Tunnel which lies another 1,705 feet away. Connecting the two
tunnels will provide a new escapeway from the Silver Summit hoist area
and expand the ventilation capacity of the Mine as a whole while, at
the same time, providing for drill platforms to test target areas
previously identified in the Upper Country, as well as accessing older
workings.
The 61,660-foot Upper Country drilling program has been designed by
Sterling's Chief Geologist, Jeff Moe, to explore ground both north and
south of the Sterling Tunnel. The target areas of the Sunshine and
Yankee Boy veins are accessible from the Sterling Tunnel using
shorter-range pneumatic equipment and will encompass 10,295 feet of
drilling. To the north of the Tunnel, the program is designed for
long-range drilling (over 10,000 feet) to test the up-dip projections
of the Silver Syndicate and Copper veins. As development of the Tunnel
advances eastward, the Link, Hook, Chester and Yankee Girl veins will
become accessible for drilling. Ores identified in the upper levels of
the mine could be developed quickly with rubber-tired LHD
(load-haul-dump) equipment at potentially lower costs.
Raymond De Motte, Sterling's President explained "The Sterling Tunnel
is part of our Upper Country strategy designed to complement forecast
production from deeper levels. The drilling program targets areas
identified in our 2003-2005 exploration programs, as well as older
workings and adjacent areas that were previously unmined due to the
property's historical boundaries. Drilling is underway, by both
internal and contractor drill crews, and is expected to be proceed
continuously."
Exploration and development work within the Upper Country areas is
being done concurrently with work to renovate the Silver Summit shaft
and hoist. The Silver Summit shaft and hoist work is to meet the
requirements necessary to develop and mine the deeper levels at the
Sunshine Mine.
About Sterling Mining Company
Sterling Mining Company controls America's legendary Sunshine Mine and
related exploration lands in the Silver Valley of North Idaho. The
Company also holds several silver properties in Mexico, including the
producing Barones Tailings Project in the Zacatecas silver district.
Shares of Sterling Mining trade on the OTC Bulletin Board under the
symbol "SRLM" and also on the Frankfurt Stock Exchange, trading symbol
"SMX".
FOR FURTHER INFORMATION, visit the Company's website at
http://www.SterlingMining.com or contact:
Sterling Mining Company
http://www.SterlingMining.com
Raymond De Motte, President
Tel: (208) 666-4070
CHF Investor Relations
http://www.chfir.com
Cathy Hume, CEO
Tel: (416) 868-1079 x231
cathy@chfir.com
To receive Sterling news via email, please email Alison@chfir.com and
specify "SRLM news" in the subject line.
This press release does not constitute an offer to sell or a
solicitation to buy securities, and contains forward looking statements
regarding the Company within the meaning of Section 27A of the
Securities Act and Section 21E of the Exchange Act. These statements
are based on assumptions that the Company believes are reasonable but
that are subject to uncertainties and business risks. Actual results
relating to any and all of these subjects may differ materially from
expected results. Factors that could cause results to differ
materially include economic and political events, the ability to raise
capital in the financial markets, and other factors discussed in the
Company's periodic filings with the Securities and Exchange Commission,
including its annual report on Form 10-K for the year ended December
31, 2005.