NJMC Acquires Large Patented Land Package In Murray Gold Belt

COEUR D'ALENE, ID - New Jersey Mining Company reported the acquisition of more than 500 acres of private patented mining claims for $1,699,000. This claim group consists of 28 patented mining claims and is contiguous with other lands owned by the Company, bringing NJMC's private land holdings in the Murray Gold Belt to over 1,500 acres. New Jersey Mining Company is now the largest private landowner in this historic mining district.

NJMC's VP of Exploration, Rob Morgan, said, "This land acquisition strategically connects New Jersey's east and west holdings and is the culmination of a four-year process to consolidate the Murray Gold Belt. This private land package provides a unique and exciting opportunity for gold exploration, responsible development, and future conservation. We believe the Murray Gold Belt contains one of the last great undeveloped patented land packages in the western US. It's every mining company's dream to have a private land package of this magnitude; especially in an active mining district."

NJMC CEO and President, John Swallow added, "The flexibility and leverage provided by this acquisition cannot be overstated. In addition to a producing gold mine, our overall property package now provides considerable exposure to both lode and placer gold exploration, possible new mill and/or tailings location(s) and the potential for commercial aggregate deposits. This large block of land also fits nicely into our "We Live Here" approach toward land conservation, responsible coexistence of multiple land uses and future carbon footprint reduction efforts. In short, this land package largely completes a community-focused land acquisition plan for the MGB we put in place many, many years ago. Idaho is home - we live here, work here and once again demonstrate that we care deeply about our local history, economy and future."

The Murray Gold Belt (MGB) is the birthplace of the Coeur d'Alene Mining District and marks the site of one of the last true gold rushes in the lower 48 of the United States. The Coeur d'Alene Gold Rush of 1883 resulted after gold was discovered along Prichard Creek, near present day Murray. Thousands of miners flocked to the area, between 1884 and 1905, to produce a total of 227,890 ounces of gold from the area's stream placers, terrace gravels, and hard rock vein deposits. Over the last four years, the Company has purchased and put together a substantial private land package consisting of mining patents dating to the Coeur d'Alene Gold Rush of 1883. NJMC now owns a substantial portion of holdings originally assembled in the early 1900's from hundreds of owners, that was later controlled by members related to the Guggenheim family for over 100 years.

Ground magnetic geophysical surveys have been conducted over our previously acquired Alder Gulch lands with great success. These surveys will be extended to cover the new area in order to facilitate the targeting of structural intersections and potential gold deposits beneath the gravels. Our land package hosts a ‘target-rich environment', and we anticipate mobilizing our drill rig into the area following mapping, sampling, trenching and geologic interpretation, which is underway."

The Company targeted these lands because of large-scale faults and the associated hard rock gold-quartz vein occurrences. It also includes many historic gold mines and prospects such as the Golden King, Grouse, and McComber Gulch. Many of the known gold-bearing structures are projected to intersect within this new property package. Additionally, a considerable amount of the new area is covered by an ancient gold-bearing gravel veneer which the Company believes veils potential ore deposits hidden beneath. The Company has recently completed a LIDAR (Light Detection and Ranging) remote sensing survey to produce a detailed 1-meter topographic map over its entire holdings. This mapping is used to help locate collapsed or unknown historic tunnels, trenches and prospects; as well as documenting historic scarps created by hydraulic mining.