History

 1903 - 2010

 1903 - October 1998

Sterling Mining- Founded in Wallace , Idaho

 1903 - October 1998

 Founded by John Presley . The Company initially staked the East-West Link claims . In the first 30 years, early exploration included the driving of  six tunnels  onto the property. In 1951, Day Mines and later associated entities leased the key Sterling property for exploration purposes. The    Company was financed in the typical fashion of the time by assessing shareholders for funds ; if shareholders did not pay shares were be forfeit  and sold at auction.

 The Company's stock began trading on the Spokane Stock Exchange, and when the exchange closed in 1991 m Sterling Minibt srock began  trading ob the Over the Counter market.

 In 1996, Coeur d’Alene Mines Corporation (through a subsidiary) leased the original Sterling East-West link claims,

 November 1998 - May 2008

Sterling Mining Company through a share exchange acquired the Ashington Mining Corporation at a time when Sterling Mining Company's stock price was $.25 per share. The President of Ashington Mining Corporation Raymond De Motte became President of Sterling Mining Company.

The Company began an aggressive campaign to acquire additional mining claims in north Idaho and Montana. 

In 2003 it acquired a lease with option to buy the Sunshine Mine.

 Sterling began operations in Mexico, with the Baroness Silver Project in 2004. It was the first environmentally-safe thiosulphate project in  Zacatecas. Sterling's  President Ray De Motte and in Mexico General Manager the late Martin Sutti, spearheaded development in Mexico. The  Baroness reached solid profitable  commercial production, and by 2007 surface material from the San Acacio project was also being processed

 In  the fall of 2007 Sterling Mining Company secured a listing of its stock on the  Toronto Senior Stock Exchange.

 In December 2007 Sterling Mining Company began shipping silver concentrate from the Sunshine Mine.

 Delays in ramping up prodiction at the Sunshine Mine led to a requirement for additonal capital. Sterling's investment banker and Raymond De  Motte secured Preferred Stock financing from source in London, United Kingdom at $4 a share, but the directors turned down the proposal. A  Canadian listed company introduced by Sterling's investment bankers met with Sterling's directors, proposing to merge the Company and had  sufficient capital to build production at the Sunshine Mine- Sterling's directors turned down this as well.

June 2008 - April 2010

 May 28, 2008 – April 2010

 Ken Berchst was appointed President at the end of May 2008.

 New management and the directors became embroiled in poor relations and disputes not only outside parties such as Sunshine Precious Metals  the leaseholder of the Sunshine Mine, and even the management of Sterling Mining de Mexico. The prior cordial relations disappeared.

 Minco Silver on July 22, 2008 announced it would merge with Sterling Mining Company. Under the terms of the Transaction, Minco Silver offered  0.51 of a share for each one Sterling share which equates to an offer of US$1.58 per Sterling share based on Minco Silver's July 21, 2008 closing  price. The offer valued Sterling at US$62.3 million. Upon completion of the Transaction, the combined company would have had approximately 52  million common shares issued and outstanding, plus options and warrants. Minco Silver shareholders would have had 61% and former Sterling  shareholders would have had 39% of the combined company.

 Minco Silver extended a US$15 million line of credit to Sterling, of which US$5 million is to be funded immediately, bearing 10% annual interest compounded monthly, to be used for continued operations at the Sunshine Mine.

 Minco Silver had found it difficult dealing with the Sterling corporate officer and directors, including an initial visit to Sterling’s corporate officers being told “there was no mine plan”. Minco then discussed lowering the price to the $.80 per share with a key Sterling director rejecting even though Minco was offering to finance the ongoing operations.

 September 2, 2008 Minco announced it decided not to proceed with the acquisition.

 2009 witnessed continued confusion and disagreements between Sterling Mining and the Sunshine leaseholder Sunshine Precious Metals, potential acquirers of the mine SNS Silver, as well as Minco Silver seeking repayment of funds advanced to Sterling Mining. Numerous disputes were submitted to the bankruptcy court for resolution.

 On January 12, 2009 John Ryan was appointed President of Sterling Mining Company.

On January 23, 2009 Sterling Minnig President John Ryan announced Sterling Mining had sold its Sterling Mining de Mexico subsidiary for $240,000.

 In February 2009 Director Roger van Voorhees was named President of Sterling Mining Company. Voorjees then proceeded to have Sterling Mining  Company to file bankruptcy.

 Negotiations with Canadian company Alberta Star Development Corp. leading to Alberta Star announcing it would acquire a controlling interest in  Sterling Mining Company. Subject to approval by the bankruptcy court.

 On April 22, 2010 Sterling Mining announced the results of the bankruptcy auction that Silver Opportunity Partners had acquired the assets of  Sterling Mining Company for $24 million dollars which included payments to creditors and $.06 per share to Sterling Mining shareholders. 

 

2010

 Silver Opportunity Partners acquired Sterling Mining Company in bankruptcy auction for $24 million dollars.

 2010 – Current

 Silver Opportunity Partners reported in 2026 over 100 million dollars have spent on further exploration and development on the mine in preparation  to returning to production of the famed Sunshine Mine.

The land package assembled by Raymond De Motte in the Coeur d'Alene Mining District has largely been maintained by Silver Opportunity Partners, now going by Sunshine Silver,

I n Mexico many of Sterling Mining's projects j have been optioned or leased to various junior mining companies.

 

All rights reserved. RCI 2000

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