Sterling Mining Co. (fka SRLMQ)

[B7$4]

"SRLMQ News" Kootenay Gold joins Alberta Star’s bid for Sterling Mining

http://www.proactiveinvestors.com/companies/news/4667/kootenay-gold-joins-alberta-stars-bid-for-sterling-mining-4667.html

Kootenay Gold (TSX-V:KTN) and Alberta Star (TSX-V:ASX) have joined forces to acquire Sterling Mining (PINK:SRLMQ) which owns the Sunshine Mine located near Coeur D’Alene, Idaho, USA.

The Sunshine Mine produced over 360 million ounces of silver during its long life, but is currently on care and maintenance after Sterling Mining failed to cope with volatile silver prices in 2009, which undermined the company’s ability to keep the mine in production. Sterling Mining acquired the project in 2003, put the mine back into production in 2007, only to suspend mining in 2009 and file for Chapter 11 bankruptcy.

The mine currently hosts a 43-101 compliant measured and indicated resource of 1.43 million tonnes at 21.8 ounces of silver per tonne (31.5 million ounces of silver) and an inferred resource of 2.28 million tonnes at 101.6 ounces of silver per tonne (231.5 million ounces of silver).

Alberta Star previously launched an offer to acquire Sterling Mining for US$11.75 million, which was followed by a competing offer from Minco Silver Corporation of US$12.5 million. Interested companies have until the end of March to launch bids for the company.