New Jersey Mining Company Announces Grant of Stock Options
100,000 stock options to each employee - regardless of positionCOEUR D'ALENE, Feb 10, 2021 - New Jersey Mining Company (OTCQB:NJMC) ("NJMC" or the "Company") announces the grant of 4,200,000 stock options to employees and directors of the Company, pursuant to the terms of the Company's Stock Option Plan. The options are exercisable at $0.40 per share and expire three years from the date of grant.
NJMC President and CEO John Swallow stated, "The NJMC board of directors consciously made a decision to take a conservative approach during the last three consecutive years, awarding stock option grants to employees that work at the mine and mill, and deferring any grants to officers or directors. We feel that this conservative approach has supported our efforts to grow the company as we raised capital for asset acquisition, accelerated exploration and expanded underground operations. Based on this success and consistent with our desire to support employees as shareholders in the Company we are pleased to announce the grant of stock options to each of our employees - regardless of position. In addition to the stock options granted to employees of 100,000 options each, the board also approved a stock option grant to each Director or Officer that has not received stock options for the preceding three years of 200,000 options each. All stock options granted will be exercisable for a period of three years at an exercise price of $0.40 per share.
About New Jersey Mining Company
Headquartered in North Idaho, New Jersey Mining Company is the rare example of a vertically integrated, operating junior mining company. NJMC produces gold at the Golden Chest Mine and recently consolidated the Murray Gold Belt (MGB) for the first time in over 100-years. The MGB is an overlooked gold producing region within the Coeur d'Alene Mining District, located north of the prolific Silver Valley. In addition to gold, the Company maintains a presence in the Critical Minerals sector and is focused on identifying and exploring for Critical Minerals (Rare Earth Minerals) important to our country's defensive readiness and a low-carbon future.
New Jersey Mining Company possesses the in-house skillsets of a much larger company while enjoying the flexibility of a smaller and more entrepreneurial corporate structure. Its production-based strategy, by design, provides the flexibility to advance the Murray Gold Belt and/or its Critical Minerals holdings on its own or with a strategic partner in a manner that is consistent with its existing philosophy and culture.
NJMC has established a high-quality, early to advanced-stage asset base in four historic mining districts of Idaho and Montana, which includes the currently producing Golden Chest Mine. Management is stakeholder focused and owns more than 15-percent of NJMC stock.
The Company's common stock trades on the OTC-QB under the symbol "NJMC."
For more information on New Jersey Mining Company go to www.newjerseymining.com or call:
Monique Hayes, Corporate Secretary/Investor Relations
Email: monique@newjerseymining.com
(208) 625-9001
Forward Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are intended to be covered by the safe harbor created by such sections. Such statements are based on good faith assumptions that New Jersey Mining Company believes are reasonable, but which are subject to a wide range of uncertainties and business risks that could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such factors include, among others, the risk that high grade intercepts or follow on drill success may not result in mineable widths, increased production or a larger resource, the risk the mine plan changes due to rising costs or other operational details, an increased risk associated with production activities occurring without completion of a feasibility study of mineral reserves demonstrating economic and technical viability, the risks and hazards inherent in the mining business (including risks inherent in developing mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), changes in the market prices of gold and silver and the potential impact on revenues from changes in the market price of gold and cash costs, a sustained lower price environment, risks relating to widespread epidemics or pandemic outbreak including the COVID-19 pandemic; the impact of COVID-19 on our workforce, suppliers and other essential resources and what effect those impacts, if they occur, would have on our business, including our ability to access goods and supplies, the ability to transport our products and impacts on employee productivity, the risks in connection with the operations, cash flow and results of the Company relating to the unknown duration and impact of the COVID-19 pandemic as well as other uncertainties and risk factors. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. NJMC disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise
SOURCE: New Jersey Mining Company
