New Jersey Mining Company: Form 10-Q - filed by newsfilecorp.com

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
 
FORM 10-Q

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the quarterly period ended June 30, 2010
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the transition period from __________to __________
 
Commission file number: 000-28837
 
NEW JERSEY MINING COMPANY
(Exact name of registrant as specified in its charter)

Idaho 82-0490295
(State or other jurisdiction (I.R.S. employer identification No.)
of incorporation or organization)  

89 Appleberg Road, Kellogg, Idaho 83837
(Address of principal executive offices) (zip code)
 
(208) 783-3331
Registrant’s telephone number, including area code

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(D) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period as the registrant was required to file such reports), and (2) has been subject to filing requirements for the past 90 days.

Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes [ ] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “small reporting company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer _____. Accelerated Filer _____.
Non-Accelerated Filer _____.  Smaller reporting company __X__.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)

Yes [   ] No [ X ]

On August 3, 2010, 42,438,362 shares of the registrant’s common stock were outstanding.

1


NEW JERSEY MINING COMPANY
QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTERLY PERIOD
ENDED JUNE 30, 2010

TABLE OF CONTENTS

Page
 PART I – FINANCIAL INFORMATION  
Item 1: Financial Statements 3
Item 2: Management’s Discussion and Analysis of Financial Condition and Results of Operations

7

Item 3: Quantitative and Qualitative Disclosures about Market Risk 9
Item 4: Controls and Procedures 9
Item 4T: Controls and Procedures 9
PART II – OTHER INFORMATION
Item 1: Legal Proceedings 9
Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 9
Item 3: Defaults Upon Senior Securities 10
Item 4: Removed and Reserved 10
Item 5: Other Information 10
Item 6: Exhibits 10
  SIGNATURES 11
  CERTIFICATIONS 12

2


PART I-FINANCIAL INFORMATION

Item 1: FINANCIAL STATEMENTS

New Jersey Mining Company
(A Development Stage Company)
Balance Sheets (Unaudited)
June 30, 2010 and December 31, 2009

ASSETS  
    June 30, 2010     December 31, 2009  
             
Current assets:            
   Cash and cash equivalents $  91,182   $  34,087  
   Investment in marketable equity security at market (cost-$3,868)   9,672     21,665  
   Interest receivable   92     309  
   Miscellaneous receivable         919  
   Contract drilling receivable   12,085        
   Prepaid claim fees   4,643     18,573  
   Inventory   22,760     1,833  
                       Total current assets   140,434     77,386  
             
Property, plant, and equipment, net of accumulated depreciation   1,349,615     1,353,369  
Mineral properties, net of accumulated amortization   1,403,434     1,407,959  
Reclamation bonds   121,133     121,088  
   Total assets $  3,014,616   $  2,959,802  
             
             
LIABILITIES AND STOCKHOLDERS’ EQUITY  
             
Current liabilities:            
   Accounts payable $  52,878   $  62,858  
   Note and interest payable, related party   81,299     72,107  
   Accrued payroll and related payroll expenses   36,996     7,160  
   Deposit received on sale of mineral property         50,000  
   Obligations under capital lease, current   13,036     9,894  
   Notes payable, current   73,632     134,689  
                       Total current liabilities   257,841     336,708  
             
Asset retirement obligation   27,649     25,913  
Obligations under capital lease, non-current   7,898     10,398  
Notes payable, non-current   82,598     56,650  
                       Total non-current liabilities   118,145     92,961  
             
                       Total liabilities   375,986     429,669  
             
Stockholders’ equity:            
   Preferred stock, no par value, 1,000,000 shares authorized;        
      no shares issued and outstanding            
   Common stock, no par value, 50,000,000 shares authorized;    9,850,164     9,285,383  
      June 30, 2010-42,412,887 and December 31, 2009-38,685,232 shares issued and outstanding            
   Deficit accumulated during the development stage   (7,217,337 )   (6,773,046 )
   Accumulated other comprehensive income            
             Unrealized gain in marketable equity security   5,803     17,796  
                       Total stockholders’ equity   2,638,630     2,530,133  
             
             Total liabilities and stockholders’ equity $  3,014,616   $  2,959,802  

3

The accompanying notes are an integral part of these financial statements.


New Jersey Mining Company
(A Development Stage Company) 
Statements of Operations and Comprehensive Loss (Unaudited)
For the Three and Six Month Periods Ended June 30, 2010 and 2009,
And from Inception (July 18, 1996) through June 30, 2010

                          From Inception  
                            (July 18, 1996)  
                            Through  
    June 30, 2010     June 30, 2009     June 30, 2010  
    Three Months     Six Months     Three Months     Six Months          
Income earned during the development stage:                              
       Sales of gold $  6,067   $  6,067   $  52,338   $ 163,659   $  431,779  
       Sales of concentrate                           601,168  
       Drilling and exploration contract income   12,085     12,085     66,472     66,472     210,696  
    18,152     18,152     118,810     230,131     1,243,643  
                               
Costs and expenses:                              
       Direct production costs   22,443     40,920     45,268     172,272     1,308,121  
       Drilling and exploration contract expense   15,489     20,609     28,161     28,161     109,295  
       Management   60,158     127,026     90,787     187,070     1,823,057  
       Exploration   82,369     113,628     33,221     49,545     2,363,635  
       Gain on sale of mineral property                           (90,000 )
       Gain on default of mineral property sale       (50,000 )           (320,000 )
       Depreciation and amortization   20,249     33,443     38,080     85,603     703,536  
       General and administrative expenses   91,333     175,011     53,589     135,817     2,566,569  
               Total operating expenses   292,041     460,637     289,106     658,468     8,464,213  
                               
Other (income) expense:                              
       Timber sales                           (54,699 )
       Timber expense                           14,554  
       Royalties and other income   (1,811 )   (1,811 )   (2 )   (2 )   (73,887 )
       Royalties expense               2,484     3,597     44,089  
       Gain on sale of marketable equity security               (1,912 )   (1,912 )   (92,269 )
       Interest income   (397 )   (611 )   (103 )   (437 )   (47,704 )
       Interest expense   1,225     4,227     5,289     11,015     85,732  
       Write-off of goodwill                           30,950  
       Write-off of investment                           90,000  
               Total other (income) expense   (983 )   1,805     5,756     12,261     (3,234 )
                               
Net loss   272,906     444,290     176,052     440,598     7,217,336  
                               
Other comprehensive (income) loss:                              
Unrealized (gain) loss on marketable equity security   11,606     11,993     (10,821 )   (4,290 )   (5,803 )
                               
Comprehensive loss $  284,512   $  456,283   $  165,231   $ 436,308   $  7,211,533  
                               
Net loss per common share basic $  Nil   $  0.01   $  Nil   $ 0.01   $  0.34  
                               
Weighted average common                              
Shares outstanding basic   42,364,989     41,684,480     37,506,523     37,347,938     20,995,253  

4

The accompanying notes are an integral part of these financial statements.


New Jersey Mining Company
(A Development Stage Company)
Statements of Cash Flows (Unaudited)
For the Six Month Periods Ended June 30, 2010 and 2009,
And from Inception (July 18, 1996) through June 30, 2010

                From Inception  
          June 30,     (July 18, 1996)  
                through  
    2010     2009     June 30, 2010  
Cash flows from operating activities:                  
     Net loss $  (444,290 ) $  (440,598 ) $  (7,217,336 )
     Adjustments to reconcile net loss to net cash                  
         Used by operating activities:                  
             Depreciation and amortization   33,443     85,603     703,536  
             Loss on equipment   400           11,672  
             Write-off of goodwill and investment               120,950  
             Gain on sale of mineral properties   (50,000 )         (410,000 )
             Gain on sale of marketable equity securities         (1,912 )   (92,269 )
             Accretion of asset retirement obligation   1,736           3,179  
     Common stock issued for:                  
             Management and directors’ fees         145,698     1,109,335  
             Services and other   1,675     12,285     224,083  
             Exploration         7,500     95,521  
             Mineral property agreement               15,000  
     Change in:                  
             Prepaid claim fees   13,930           (4,643 )
             Inventory   (20,927 )   (41,680 )   (22,760 )
             Miscellaneous receivable   919     5,516        
             Interest receivable   217     221     (92 )
             Contract drilling receivable   (12,085 )   (61,043 )   (12,085 )
             Other assets               (778 )
             Accounts payable   (9,981 )   10,671     62,115  
             Accrued payroll and related payroll expenses   29,837     (28,102 )   36,996  
             Accrued reclamation costs               (1,443 )
                       Net cash used by operating activities   (455,126 )   (305,841 )   (5,379,019 )
Cash flows from investing activities:                  
     Purchases of property, plant, and equipment   (20,940 )   (4,392 )   (1,105,188 )
     Purchase of mineral property               (20,904 )
     Proceeds from sale of mineral property               120,000  
     Deposit received on sale of mineral property               320,000  
     Proceeds on sale of equipment   1,000           1,000  
     Purchases of or increase in reclamation bonds   (45 )   (235 )   (121,133 )
     Purchase of marketable equity security               (7,500 )
     Proceeds from sales of marketable equity securities         2,112     95,901  
     Cash of acquired companies               38,269  
     Deferral of development costs               (759,209 )
                       Net cash used by investing activities   (19,985 )   (2,515 )   (1,438,764 )
Cash flows from financing activities:                  
     Exercise of stock purchase warrants   33,936           2,571,536  
     Sales of common stock, net of issuance costs   529,170           4,790,246  
     Principal payments on capital lease   (4,983 )   (18,005 )   (188,480 )
     Principal payments on notes payable   (35,109 )   (57,460 )   (345,636 )
     Note and interest payable, related party net   9,192     64,025     81,299  
                       Net cash provided (used) by financing activities   532,206     (11,440 )   6,908,965  
Net change in cash and cash equivalents   57,095     (319,796 )   91,182  
Cash and cash equivalents, beginning of period   34,087     321,254     0  
Cash and cash equivalents, end of period $  91,182   $  1,458   $  91,182  
Supplemental disclosure of cash flow information:                  
Interest paid in cash, net of amount capitalized $  4,227   $  10,190   $  73,711  
Non-cash investing and financing activities:                  
     Common stock issued for:                  
             Property, plant, and equipment             $  50,365  
             Mineral properties             $  333,300  
             Payment of accounts payable             $  12,205  
             Acquisitions of companies, excluding cash             $  743,653  
     Capital lease obligation incurred for equipment acquired $  5,625         $  184,213  
     Notes payable for property and equipment acquired             $  482,634  

5

The accompanying notes are an integral part of these financial statements.


New Jersey Mining Company
Notes to Financial Statements
(Unaudited)

1. Basis of Presentation:

These unaudited interim financial statements have been prepared by the management of New Jersey Mining Company (“the Company”) in accordance with accounting principles generally accepted in the United States of America for interim financial information, as well as the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of the Company’s management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the interim financial statements have been included.

The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published, and the reported amounts of revenues and expenses during the reporting period. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of the Company's financial statements; accordingly, it is possible that the actual results could differ from these estimates and assumptions, which could have a material effect on the reported amounts of the Company's financial position and results of operations. Operating results for the three and six periods ended June 30, 2010, are not necessarily indicative of the results that may be expected for the full year ending December 31, 2010.

For further information refer to the financial statements and footnotes thereto in the Company’s Annual Report on Form 10-K for the year ended December 31, 2009.

The Company presents its financial statements in accordance with accounting guidance for development stage entities, as management believes that while the Company’s planned principal operations have commenced, the revenue generated from them is not sufficient to cover all corporate costs. Additional development of the Company’s properties is necessary before a transition is made to reporting as a production stage company.

2. Description of Business

The Company was incorporated as an Idaho corporation on July 18, 1996. The Company's primary business is exploring for and developing gold, silver, and base metal mining resources in Idaho.

3. Related Party Transactions

In the first and second quarter of 2010, an unsecured line of credit with 0% interest was extended to the Company by President Fred Brackebusch and Vice President Grant Brackebusch for the amount of stock due for management services in the quarter. Stock payments are made to Fred Brackebusch and Grant Brackebusch quarterly based on an hourly rate for management services above a predetermined amount and also in some cases in lieu of base salary. These payments have been deferred for the last 2 quarters. As of June 30, 2010, this amounted to $79,799. In addition $1,500 in office rent for the second quarter of 2010 is payable to Mine Systems Design, a related party.

4. Equity

Warrants
In the second quarter of 2010, 199,625 warrants were exercised; each warrant was exchanged for one unregistered share of the Company’s stock, at $0.17 per share resulting in proceeds of $33,936. No warrants were exercised in the first quarter of 2010.

Common Stock Issued for Cash, Goods, and Services
During the three and six month periods ended June 30, 2010, the Company issued 5,000 and 7,500 shares, respectively, of unregistered common stock to individuals for goods and services at a fair value prices ranging from $0.17 to $0.25 per share.

5. Fair Value Measurement

The table below sets forth our financial assets that were accounted for at fair value on at June 30, 2010 and December 31, 2009, and their respective hierarchy level. Hierarchy level is determined by segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).We had no other financial assets or liabilities accounted for at fair value at June 30, 2010 and December 31, 2009.

Balance at
June 30,
2010
Balance at
December 31,
2009
Hierarchy
Level
Investments in marketable
     equity securities
$ 9,672 $21,665 Level 1

6



6. Mining Venture Agreements

Newmont Venture Agreement
The Company entered into a venture agreement with Newmont North America Exploration Limited ("Newmont") in March 2008, relating to exploration of the Company's Toboggan Project. Newmont is conducting exploration in a 38 square mile area centered on the prospects that the Company has staked. To earn a participating interest in the Venture, Newmont is required to contribute $2,000,000 in exploration expenditures as follows: $300,000 on or before March 2009, an additional $700,000 by March 2010, and an additional $1,000,000 by March 2011. Newmont has completed two field seasons of exploration work and is currently conducting the third season in 2010. Newmont has made satisfactory progress toward completing their required expenditures under the agreement. NJMC has been providing drilling services on a per footage fee basis to Newmont for this project.

Item 2:

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

When we use the terms "New Jersey Mining Company," the "Company," "we," "us," or "our," we are referring to New Jersey Mining Company (the "Company") and its subsidiaries, unless the context otherwise requires.

Cautionary Statement about Forward-Looking Statements
This Quarterly Report on Form 10-Q includes certain statements that may be deemed to be "forward-looking statements." All statements, other than statements of historical facts, included in this Form 10-Q that address activities, events or developments that our management expects, believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements include discussion of such matters as:

Forward-looking statements also typically include words such as "anticipate," "estimate," "expect," "potential," "could" or similar words suggesting future outcomes. These statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, including such factors as the volatility and level of metal prices, currency exchange rate fluctuations, uncertainties in cash flow, expected acquisition benefits, exploration mining and operating risks, competition, litigation, environmental matters, the potential impact of government regulations, and other matters related to the mining industry, many of which are beyond our control. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements.

The Company is under no duty to update any of these forward-looking statements after the date of this report. You should not place undue reliance on these forward-looking statements.

Plan of Operation
The Company is executing its strategy to conduct exploration for gold, silver and base metal deposits in the greater Coeur d’Alene Mining District of northern Idaho while concurrently conducting mining and mineral processing operations on ore reserves it has located on its exploration properties. The financial strategy is to generate cash from these operations to pay for corporate expenses and to provide additional funds for exploration, thus reducing the need to raise funds through financing activities including sale of common stock. The strategy includes finding and developing ore reserves in order to increase production of gold, silver, and base metals. In addition, the sale or joint venture of mineral properties is used as a source of funds and to reduce exploration costs.

The Company has several properties at which most exploration is being conducted; the Toboggan Project, the Niagara, the Golden Chest, the Silver Strand, and the Coleman. The Toboggan Project is a group of prospects in the Murray, Idaho District that contain gold and silver telluride minerals. The Toboggan Project is being explored by Newmont North America Exploration Limited under a joint venture agreement. Newmont is conducting exploration in a 38 square mile area centered on the prospects that the Company has staked previously and on new claims staked by Newmont. Newmont has commenced drilling of certain targets in the second quarter of 2010. The Niagara copper-silver deposit, also located in the Murray, Idaho area, in the Revett formation was drilled in the 1970’s, and the Company drilled five holes since which expanded the resource. The Company is searching for joint venture opportunities in order to acquire funding to develop the reserves at the Golden Chest mine. An exploration drill hole was completed at the Golden Chest in the second quarter and a thin, high grade vein was intercepted. Production of silver-gold ore commenced at the Silver Strand mine in May 2010, but late in the second quarter crews were reassigned to exploration at the Golden Chest. At the Coleman underground mine, during the first quarter, a raise on the vein was started to help determine whether reserves can be calculated on the deeper parts of the Coleman vein.

The Company commenced core drilling operations at the Toboggan Project for Newmont under a service agreement in June 2010.

Improvements to the New Jersey mineral processing plant were made in the first quarter and the plant was operated in the second quarter processing a batch of custom ore, Colemen ore, and Silver Strand ore. The plant was idled at the end of the second quarter due to metallurgical problems with the Silver Strand ore.

7


Changes in Financial Condition
The Company maintains an adequate cash balance by increasing or decreasing its exploration expenditures as limited by availability of cash from operations or from financing activities. The cash balance at the end of the first quarter was $91,182, and Figure 1 shows the corresponding balances for previous accounting periods.


The cash balance decreased during the second quarter due to lack of financing activities and limited revenue.

Results of Operations
Income Earned during the Development Stage (Revenue) for the second quarter of 2010 was $18,152 as compared to $118,810 for the comparable period of 2009. Revenue was lower in 2010 due to less production. Figure 2 shows a net loss for the second quarter of 2010 of $272,906 compared to a loss of $176,052 for the second quarter of 2009. The net loss for the second quarter of 2010 was greater than the second quarter of 2009 because of decreased revenue.


Gold production was 26 ounces in the first quarter of 2010 compared to 96 ounces in the comparable period of 2009. Gold production for the remainder of 2010 will depend on the success of an exploration crosscut at the Golden Chest mine.

At the Golden Chest mine, production depends upon the ability to complete development of reserves. If the Idaho vein ramp development can be completed there will be more than 200,000 tonnes available. There are no plans in 2010 to commence ramp development unless a joint venture partner or other means of financing can be arranged.

Ore production started at the Silver Strand mine in the second quarter of 2010 but was suspended due to low metallurgical recovery in the concentrate leach plant. While management expects that it can solve the metallurgical problems with Silver Strand ore, no production will be possible for the remainder of the operating season.

8


The amount of money to be spent on exploration at the Company’s mines and prospects will depend upon the amount of gross profit generated by operations and the amount of money raised by financing activities. Management expects that minimal work will be done at the Company’s mines for the remainder of 2010 and that the mineral processing plant will remain idle the remainder of the year.

The Company will continue to look for a joint venture partner at the Golden Chest mine and to pursue equity financing. The Company is drilling for Newmont at the Toboggan Project on a contract basis during the 2010 summer and fall season. Newmont currently pays for all exploration activities on the Toboggan Project. We expect to receive cash flow by providing drilling services to Newmont on our joint venture (see note 6. Mining Venture Agreements–Newmont Venture Agreement).

Changes in Direct Production Costs
Direct production costs decreased for the three and six month periods ending June 30, 2010 compared to the comparable periods last year because the mining and milling properties were shut down for the majority of the first quarter and only resumed operations in March of 2010.

Changes in Management Costs
Management expenses decreased for the three and six month periods ending June 30, 2010 compared to the comparable periods last year because of limited activity in 2010. Management continues to receive a portion of payment in stock.

Changes in Exploration Costs
Exploration expenses increased for the three and six month periods ending June 30, 2010 compared to the comparable period last year. Exploration projects were put on hold in 2009 while production occurred at the Golden Chest property. In March of 2010 exploration activities were resumed at the Coleman property.

Item 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK  

Not required for small reporting companies.

Item 4: CONTROLS AND PROCEDURES

Disclosure Controls and Procedures
The Company’s President and Chief Executive Officer who also serves as the Company’s principal financial officer, has evaluated the effectiveness of the Company’s disclosure controls and procedures pursuant to Rule 13a-15(e) and 15d-15(e) under the Securities and Exchange Act of 1934 (the “Exchange Act”), as of the end of the period covered by this report. Based on such evaluation, the Company’s President, Chief Executive Officer, and principal financial officer has concluded that, as of the end of such period, the Company’s disclosure controls and procedures are effective in recording, processing, summarizing, and reporting, on a timely basis, information required to be disclosed by the Company in the reports that it files under the Exchange Act.

Changes in internal control over financial reporting.
The President, Chief Executive Officer, and principal financial officer conducted evaluations of the Company’s internal controls over financial reporting to determine whether any changes occurred during the quarter ended June 30, 2010 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting. No material changes in internal control over financial reporting occurred in the quarter ended June 30, 2010.

Item 4T.: CONTROLS AND PROCEDURES

Information regarding internal control over financial reporting has been set forth in Item 4.

PART II - OTHER INFORMATION

Item 1. LEGAL PROCEEDINGS

None

Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

Neither the constituent instruments defining the rights of the Company’s securities filers nor the rights evidenced by the Company’s outstanding common stock have been modified, limited or qualified.

During the second quarter of 2010 the Company issued 199,625 shares of unregistered common stock for net proceeds of $33,936 to certain accredited and sophisticated individuals in exchange for warrants held by those individuals. In management’s opinion, the sale of the restricted shares, as defined under Rule 144, was made in reliance on exemptions from registration provided by Section 4(2) and Rule 506 of Regulation D of the Securities Act of 1933, as amended and other applicable Federal and state securities laws.

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During the second quarter of 2010 the Company issued 5,000 shares of unregistered common stock at an average price of $0.25 to other accredited and sophisticated individuals for goods and services. In management’s opinion, the securities were issued pursuant to exemptions from registration under Section 4(2) of the Securities Act of 1933, as amended.

Item 3. DEFAULTS UPON SENIOR SECURITIES

The Company has no outstanding senior securities.

Item 4. REMOVED AND RESERVED

Item 5. OTHER INFORMATION

None

Item 6. EXHIBITS

Number Description
   
3.1 Articles of Incorporation. Filed as an exhibit to the registrant's registration statement on Form 10-SB (Commission File No. 000-28837) and incorporated by reference herein.
   
3.2 Bylaws. Filed as an exhibit to the registrant's registration statement on Form 10-SB (Commission File No. 000-28837) and incorporated by reference herein.
   
31.1 Certification pursuant to Section 302 of the Sarbanes-Oxley act of 2002.
   
32.1 Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

     
  NEW JERSEY MINING COMPANY
     
By:   /s/ Fred W. Brackebusch
     
    Fred W. Brackebusch, its
    President, Treasurer & Director
     Date August 13, 2010  
     
     
   By:  /s/ Grant A. Brackebusch
     
    Grant A. Brackebusch, its
    Vice President & Director
    Date: August 13, 2010

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