Mining Company Gains New Leases

Thu., March 27, 1997

From Staff And Wire Reports

Silver Valley Resources Corp. Wednesday gained new leases surrounding its Caladay mine in Idaho’s Silver Valley.

Silver Buckle Mines Inc. and Placer Creek Mining Co. leased their mining claims around Caladay to Silver Valley Resources, which is owned by Coeur d’Alene Mines Corp. and New York-based Asarco.

The Caladay mine is an exploration silver and lead property that abuts Silver Valley Resources’ Galena mine. The Galena and the Coeur silver mines were restarted last year.

The two operating mines have the lowest operating costs of any mine in the Silver Valley. Combined, the two mines will produce about 3 million ounces of silver this year.

The new leases expand Silver Valley Resources’ drilling plans. Under the terms of the agreement, the company will spend at least $125,000 every five years on the properties.

Recent exploration at the Galena mine has come very close to the Caladay property, said Tony Ebersole, head of investor relations for Coeur d’Alene Mines. , DataTimes

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Mining Company Gains New Leases

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