New Jersey Mining Signs Option to Purchase Agreement to Acquire 100-Percent Interest in the Golden Chest Mine

COEUR D ALENE, Idaho, Oct. 12, 2015, OTCQB, NJMC, (GLOBE NEWSWIRE) New Jersey Mining Company (OTCQB:NJMC) (“NJMC” or the “Company”) announced today that it has signed an Option to Purchase Agreement, giving it the right to acquire a 100-percent interest in the Golden Chest Mine. NJMC formed Golden Chest LLC, which owns the Golden Chest Mine, with Marathon Gold Corporation (TSX:MOZ) (“Marathon”) in 2010 with an objective to explore and develop the property. NJMC is manager and 47.88-percent owner of Golden Chest LLC. Marathon owns the remaining 52.12-percent. In order to acquire Marathon’s interest, the Agreement calls for NJMC to make a $10,000 down payment, to be followed by a $90,000 payment by November 30, 2015 to execute the Option.  At that point, the Agreement will convert into a Purchase and Sale Agreement, requiring a final $100,000 payment within six months to complete the transaction. Marathon will also retain a 2-percent net smelter return (NSR) royalty on al
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