COEUR D' ALENE, ID -- (Marketwire) -- 07/27/11 -- Shoshone Silver/Gold Mining Company (OTCQB: SHSH) submits the following update report for 2011.
Shoshone has developed an ambitious work program for the 2011 mining season.
200 Level Adit To Be Opened
The 200 level adit in the Rescue Gold Mine will be opened up and made ready for operation. This adit is at the same elevation as the mill and is located directly behind (south of) the new staging building that was finished last summer. The 200 level will be key to preparing the mine for operation in 2012. This level will provide access to unmined areas of the Rescue vein and will allow the lower levels of the mine to be dewatered. Eventually, the 200 level will be a major part of the mine ventilation and secondary escape way system when full operation is achieved. We will continue drifting on and sampling the historic Rescue vein.
Work on New Rescue Gold Mine Decline Begins
In 2010 a new portal site for a decline in Trahl Gulch was prepared. This portal site is 1,000 feet east of the 200 level adit. When completed, the new decline will allow Shoshone to access unmined portions of the vein. The plan is to advance the new decline 100 feet at a minimum towards the vein. The remainder of the decline will be driven in 2012 and development will begin then.
Waste Dump and Tailings Pond Expansion
An ore and waste dump for development and mining on the 200 level will be constructed this summer. Permits for an additional mine waste dump and for an expansion of the tailings pond have been applied for. Once approval of has been received, site clearing (timber and brush removal) will begin immediately.
Lakeview Mill Improvements
Shoshone has undertaken a process for improving the operation of the Lakeview Mill to make it ready for increased milling capacity in the future. This process includes, but is not limited to, the installation of an additional zinc floatation circuit. Changes will be made as well to increase the efficiency and the capacity of the mill's equipment for the drying of concentrates before shipment. Additional work will be done to increase the effectiveness of one of the mill's large ore chutes.
Joint Venture Partner(s)
Shoshone has a number of properties that offer excellent joint venture prospects to interested parties. Inquiries are welcome.
ABOUT SHOSHONE SILVER/GOLD MINING COMPANY
Founded in 1969 as a silver exploration, development and production company, Shoshone maintains a diverse portfolio of mineral explorations projects in Idaho, Montana, Arizona and Washington. Shoshone stock trades on the Over the Counter Bulletin Boards (OTCQB) under the symbol "SHSH", and on the Frankfort Exchange under the symbol "9IT".
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-K for the fiscal year ended September 30, 2010.
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