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<SEC-DOCUMENT>0001062993-04-001045.txt : 20040701
<SEC-HEADER>0001062993-04-001045.hdr.sgml : 20040701
<ACCEPTANCE-DATETIME>20040701142727
ACCESSION NUMBER:		0001062993-04-001045
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040811
FILED AS OF DATE:		20040701
EFFECTIVENESS DATE:		20040701

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEW JERSEY MINING CO
		CENTRAL INDEX KEY:			0001030192
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				820490295
		STATE OF INCORPORATION:			ID
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28837
		FILM NUMBER:		04894517

	BUSINESS ADDRESS:	
		STREET 1:		89 APPLEBERG RD
		STREET 2:		PO BOX 1019
		CITY:			KELLOGG
		STATE:			ID
		ZIP:			83837
		BUSINESS PHONE:		2087833331

	MAIL ADDRESS:	
		STREET 1:		89 APPLEBERG ROAD
		STREET 2:		PO BOX 1019
		CITY:			KELLOGG
		STATE:			ID
		ZIP:			83837
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>def14a.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>
<HTML>
<HEAD>
   <TITLE>Filed by Automated Filing Services Inc. (604) 609-0244 - New Jersey Mining Company - DEF 14A</TITLE>


</HEAD>

<BODY bgcolor="#FFFFFF" style="font-size: 10pt;">
<A name="page_1"></A><HR noshade align="center" width="100%" size=3 color="black"><P align="center"><font size="5"><strong>UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION</strong></font><br> Washington, D.C. 20549</P>
<P align="center"><B><font size="5">SCHEDULE 14A</font></B> <br>
  <B>Information Required in Proxy Statement</B> </P>
<P align="center"> SCHEDULE 14A INFORMATION <br>
  Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of
  1934</P>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td valign="top"><font size="3" face="WINGDINGS"><strong>&#120;</strong></font></td>
    <td>Filed by the Registrant</td>
  </tr>
  <tr>
    <td width="5%" valign="top"><strong><font size="3" face="WINGDINGS">&#168;</font></strong></td>
    <td>Filed by a Party other than the Registrant</td>
  </tr>
</table>
<p>Check the appropriate box: </p>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="5%" valign="top"><strong><font size="3" face="WINGDINGS">&#168;</font></strong></td>
    <td><strong> </strong> Preliminary Proxy Statement</td>
  </tr>
  <tr>
    <td valign="top"><strong><font size="3" face="WINGDINGS">&#168;</font></strong></td>
    <td>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
      &nbsp;</td>
  </tr>
  <tr>
    <td valign="top"><font size="3" face="WINGDINGS"><strong>&#120;</strong></font></td>
    <td>Definitive Proxy Statement </td>
  </tr>
  <tr>
    <td valign="top"><strong><font size="3" face="WINGDINGS">&#168;</font></strong></td>
    <td>Definitive Additional Materials </td>
  </tr>
  <tr>
    <td valign="top"><strong><font size="3" face="WINGDINGS">&#168;</font></strong></td>
    <td>Soliciting Material Pursuant to ' 240.14a -11(c) or ' 240.14a -12 </td>
  </tr>
</table>
<P align="center"> <B><u><font size="5">NEW JERSEY MINING COMPANY</font></u></B><br>
  (Name of Registrant as Specified In Its Charter) </P>
<P align="center"> <strong><u>N/A </u></strong><br>
  (Name of Person(s) Filing Proxy Statement if other than the Registrant)</P>
<P> Payment of Filing Fee (Check the appropriate box): </P>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="5%" valign="top"><strong><font size="3" face="WINGDINGS">&#168;</font></strong></td>
    <td>$125 per Exchange Act Rules 0-11(c)(1)(ii), 14a-6(i)(1), 14a-6(i)(2) or
      Item 22(a)(2) of Schedule 14A.</td>
  </tr>
  <tr>
    <td valign="top"><font size="3" face="WINGDINGS"><strong><font size="3" face="WINGDINGS">&#168;</font></strong></font></td>
    <td>$500 per each party to the controversy pursuant to Exchange Act Rule 14a-6(i)(3).</td>
  </tr>
  <tr>
    <td valign="top"><font size="3" face="WINGDINGS"><strong>&#120;</strong></font></td>
    <td>Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
    </td>
  </tr>
</table>
<br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD nowrap valign=top>&nbsp;</TD>
    <TD nowrap valign=top> 1)&nbsp; &nbsp; &nbsp; </TD>
    <TD> <div align="justify">Title of each class of securities to which transaction
        applies: None </div></TD>
  </TR>
  <TR>
    <TD colspan=3>&nbsp;</TD>
  </TR>
  <TR>
    <TD nowrap valign=top>&nbsp;</TD>
    <TD nowrap valign=top> 2)&nbsp; &nbsp; &nbsp; </TD>
    <TD> <div align="justify">Aggregate number of securities to which transaction
        applies: None </div></TD>
  </TR>
  <TR>
    <TD colspan=3>&nbsp;</TD>
  </TR>
  <TR>
    <TD nowrap valign=top>&nbsp;</TD>
    <TD nowrap valign=top> 3)&nbsp; &nbsp; &nbsp; </TD>
    <TD> <div align="justify">Per unit price or other underlying value of transaction
        computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which
        the filing fee is calculated and state how it was determined): -$0- no
        fee is payable pursuant to Rule 0-11(c) (ii) </div></TD>
  </TR>
  <TR>
    <TD colspan=3>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" valign=top>&nbsp;</TD>
    <TD width="5%" valign=top> 4)&nbsp; &nbsp; &nbsp; </TD>
    <TD> <div align="justify">Proposed maximum aggregate value of transaction:
        n/a </div></TD>
  </TR>
  <TR>
    <TD colspan=3>&nbsp;</TD>
  </TR>
  <TR>
    <TD nowrap valign=top>&nbsp;</TD>
    <TD nowrap valign=top> 5)&nbsp; &nbsp; &nbsp; </TD>
    <TD> <div align="justify">Total fee paid: $-0- </div></TD>
  </TR>
</TABLE>
<br>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="5%" valign="top"><strong><font size="3" face="WINGDINGS">&#168;</font>
      </strong></td>
    <td colspan="2" valign="top"><strong> </strong> <div align="justify">Fee paid
        previously with preliminary materials. </div></td>
  </tr>
  <tr>
    <td valign="top"><strong><font size="3" face="WINGDINGS">&#168;</font> </strong></td>
    <td colspan="2" valign="top"><strong> </strong> <div align="justify"> Check
        box if any part of the fee is offset as provided by Exchange Act Rule
        0-11(a)(2) and identify the filing for which the offsetting fee was paid
        previously. Identify the previous filing by registration statement number,
        or the Form of Schedule and the date of its filing. </div></td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td width="5%" valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">1)&nbsp; </td>
    <td>Amount Previously Paid: n/a </td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">2)</td>
    <td>Form, Schedule or Registration Statement No.: n/a </td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">3)&nbsp;</td>
    <td>Filing Party: n/a </td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td valign="top">4)&nbsp; </td>
    <td>Date Filed: n/a </td>
  </tr>
</table>
<P>1</P>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">


<A name="page_2"></A>

<P align="center"> <B><font size="4">New Jersey Mining Company </font></B></P>
<P align="center"> <B>Notice of 2004 Annual Meeting of Shareholders <br>
  To be Held on August 11, 2004</B></P>
<P align="justify"> <B>NOTICE IS HEREBY GIVEN</B> that the 2004 Annual Meeting
  of Shareholders of New Jersey Mining Company (the "Company"), will be held at
  10:00 a.m. Pacific Standard time, on August 11, 2004 at the Best Western Wallace
  Inn, 100 Front Street, Wallace, Idaho 83873 to consider and act upon the following
  matters: </P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD width="5%" valign=top>&nbsp;</TD>
    <TD width="5%" valign=top> 1.&nbsp; &nbsp; &nbsp; </TD>
    <TD> <div align="justify">To elect five (5) members to the Board of Directors
        to serve for a one year term or until their respective successors are
        elected and qualified </div></TD>
  </TR>
  <TR>
    <TD colspan=3>&nbsp;</TD>
  </TR>
  <TR>
    <TD nowrap valign=top>&nbsp;</TD>
    <TD nowrap valign=top> 2.&nbsp; &nbsp; &nbsp; </TD>
    <TD> <div align="justify">To transact such other business as may properly
        come before the meeting or any adjournment thereof. </div></TD>
  </TR>
</TABLE>
<P align="justify"> The close of business on June 28, 2004 has been fixed as the
  record date for the determination of the Shareholders entitled to notice of,
  and to vote at, the Annual Meeting and at any postponements or adjournments
  thereof. Only Shareholders of record on the books of the Company at the close
  of business on June 28, 2004 shall be entitled to notice of, and to vote at,
  the meeting or any adjournment thereof. </P>
<P align="justify"> It is important that your shares be represented at the meeting
  whether or not you are personally able to attend. You are therefore urged to
  complete, date and sign the accompanying Proxy and mail it in the enclosed postage-paid
  envelope as promptly as possible. Your Proxy is revocable, either in writing
  or by voting in person at the Annual Meeting, at any time prior to its exercise.
</P>
<p>Thank you for your cooperation</p>
<p> Sincerely,</p>
<p> Fred W. Brackebusch</p>
<p>2</p>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">


<A name="page_3"></A>

<P align="center">
<B>New Jersey Mining Company </B><BR>
<B>P.O. Box 1019 </B><BR>
<B>Kellogg, Idaho 83837 </B><BR>
_________________________ <BR>
<B>PROXY STATEMENT</B> <BR>
Relating to <BR>
Annual Meeting of Shareholders<BR>
to be held on August 11, 2004 <BR>
_________________________ <BR>
</P>
<P align="center">
<B>INTRODUCTION</B><BR>
</P>
<P align="justify"> This Proxy Statement is being furnished by the Board of Directors
  of New Jersey Mining Company (the "Company") to holders of shares of the Company's
  no par value Common Stock (the "Common Stock") in connection with the solicitation
  by the Board of Directors of Proxies to be voted at the Annual Meeting of Shareholders
  of the Company to be held on August 11, 2004, and any adjournment or adjournments
  thereof (the "Annual Meeting") for the purposes set forth in the accompanying
  Notice of Annual Meeting. This Proxy Statement is first being mailed to Shareholders
  on or about July 1, 2004. </P>
<P align="justify"> Management is the record and beneficial owner of 9,387,708
  shares (approximately 45.8 %) of the Company=s outstanding Common Stock. It
  is management's intention to vote all of its shares in favor of each matter
  to be considered by the Shareholders. </P>
<P align="center"> <B> PURPOSES OF ANNUAL MEETING</B> </P>
<P align="justify"> <B>Election of Directors </B></P>
<P align="justify"> At the Annual Meeting, Shareholders will be asked to consider
  and to take action on the election of five (5) members to the Board of Directors
  to serve for one-year terms or until their respective successors are elected
  and qualified (see "Election of Directors"). </P>
<div align="justify"><B>Other Business</B></div>
<P align="justify"> To transact such other business as may properly come before
  the Annual Meeting or any postponements or adjournments thereof. </P>
<P align="justify"> <B><I>As your vote is important, it is requested that you
  complete and sign the enclosed Proxy and mail it promptly in the return envelope
  provided. Shares cannot be voted at the meeting unless the owner is present
  to vote or is represented by Proxy.</I></B></P>
<p>3</p>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">


<A name="page_4"></A>
<p><B>VOTING</B><B> </B><B>AT</B><B> </B><B>ANNUAL</B><B> </B><B>MEETING</B><BR>
</p>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR valign="top">
    <TD width=5% align=left> <B>1.</B> </TD>
    <TD align=left> <div align="justify"><B>Record Date</B>. The Board of Directors
        of the Company has fixed the close of business on June 28, 2004, as the
        record date for the purpose of determining Shareholders of the Company
        entitled to notice of and to vote at the Annual Meeting. At the close
        of business on that date, the Company had 20,512,890 issued and outstanding
        shares of Common Stock. A majority of such shares will constitute a quorum
        for the transaction of business at the Annual Meeting. Proxies, which
        are submitted but are not voted for or against (because of abstention,
        broker non-votes or otherwise), will be treated as present for all matters
        considered at the meeting.&nbsp; </div></TD>
  </TR>
  <TR valign="top">
    <TD width="5%" align="left">&nbsp; </TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> </TD>
    <TD rowspan="8" align=left> <div align="justify"><B>Solicitation of Proxies.
        </B>The accompanying Proxy is solicited on behalf of the Board of Directors
        of the Company, and the cost of solicitation will be borne by the Company.
        Following the original mailing of the Proxies and soliciting materials,
        directors, officers and employees of the Company may, but do not presently
        intend, to solicit Proxies by mail, telephone, telegraph, or personal
        interviews. The Company may request brokers, custodians, nominees, and
        other record holders to forward copies of the Proxies and soliciting materials
        to persons for whom they hold shares of the Company and to request authority
        for the exercise of Proxies. In such cases, the Company will reimburse
        such holders for their reasonable expenses.&nbsp; </div></TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> </TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> </TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> </TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> </TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> </TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> </TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> </TD>
  </TR>
  <TR valign="top">
    <TD width="5%" align="left">&nbsp; </TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> </TD>
    <TD rowspan="4" align=left> <div align="justify"><B>Revocation of Proxy. </B>Any
        Proxy delivered in the accompanying form may be revoked by the person
        executing the Proxy by written notice to that effect received by the Secretary
        of the Company at any time before the authority thereby granted is exercised,
        by execution of a Proxy bearing a later date presented at the meeting,
        or by attendance of such person at the Annual Meeting.&nbsp; </div></TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> </TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> </TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> </TD>
  </TR>
  <TR valign="top">
    <TD width="5%" align="left">&nbsp; </TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> <B>4.</B> </TD>
    <TD align=left> <div align="justify"><B>How Proxies will be Voted. </B>Proxies
        received by the Board of Directors in the accompanying form will be voted
        at the Annual Meeting as specified therein by the person giving the Proxy.
        If no specification is made with respect to the matters to be voted upon
        at the meeting, the shares represented by such Proxy will be voted : FOR
        the nominees to the Board of Directors in the election of Directors.&nbsp;
      </div></TD>
  </TR>
  <TR valign="top">
    <TD width="5%" align="left">&nbsp; </TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> </TD>
    <TD rowspan="3" align=left> <div align="justify">All shares represented by
        valid Proxy will be voted at the discretion of the proxy holders on any
        other matters that may properly come before the meeting. However, the
        Board of Directors does not know of any matters to be considered at the
        meeting other than those specified in the Notice of Meeting.&nbsp; </div></TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> </TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> </TD>
  </TR>
  <TR valign="top">
    <TD width="5%" align="left">&nbsp; </TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> <B>5.</B> </TD>
    <TD align=left> <div align="justify"><B>Voting Power. </B>Shareholders of
        the Common Stock of the Company are entitled to one vote for each share
        held. There is no cumulative voting for directors.&nbsp; </div></TD>
  </TR>
  <TR valign="top">
    <TD width="5%" align="left">&nbsp; </TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="top">
    <TD width=5% align=left> <B>6.</B> </TD>
    <TD align=left> <div align="justify"><B>Principal Shareholders. </B>The following
        table sets forth information regarding the number and percentage of shares
        of Common Stock of the Company held by any person known to the Company
        to be the beneficial owner of more than five percent and each director,
        each of the named executive officers and directors and officers as a group.&nbsp;
      </div></TD>
  </TR>
</TABLE>
<p> 4</p>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">


<A name="page_5"></A>

<P align="center">
<B>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</B> </P>
<P align="justify"> The following table sets forth information on the ownership
  of the Company's voting securities by Officers, Directors and major shareholders
  as those who own beneficially more than five percent of the Company's common
  stock through the most current date - June 28, 2004.</P>
<P> <B>Security Ownership of Certain Beneficial Owners and Management</B> </P>
<TABLE width="100%" border="2" cellpadding="3" cellspacing="0" bordercolor="#000000" style="font-size:10pt;border-color:black;border-collapse:collapse;">
  <TR valign="bottom">
    <TD width=25% align=left valign="top"> Title of Class </TD>
    <TD align=left valign="top"> Name and Address Of<br> Beneficial Owner</TD>
    <TD width=25% align=right valign="top"> Amount and Nature of<br> Beneficial
      Owner<br> <br> </TD>
    <TD width=25% align=center valign="top"> Percent of Class (1) </TD>
  </TR>
  <TR valign="bottom">
    <TD width=25% align=left valign="top"> Common </TD>
    <TD align=left valign="top"> Fred W. Brackebusch<br>
       P.O. Box 1019<br> Kellogg,
      Idaho 83837<br> <br> </TD>
    <TD width=25% align=right valign="top">7,891,072 indirect (a)&nbsp;<br>
      207,100 direct&nbsp; </TD>
    <TD width=25% align=center valign="top"> 39.48% </TD>
  </TR>
  <TR valign="bottom">
    <TD width=25% align=left valign="top"> Common </TD>
    <TD align=left valign="top"> Grant A. Brackebusch<br> P.O. Box 131<br> Silverton,
      ID 83837<br> <br> </TD>
    <TD width=25% align=right valign="top"> 915,928 indirect (b)&nbsp; 231,276
      direct&nbsp; </TD>
    <TD width=25% align=center valign="top"> 5.59% </TD>
  </TR>
  <TR valign="bottom">
    <TD width=25% align=left valign="top"> Common </TD>
    <TD align=left valign="top"> Terry &amp; Marguerite Tyson<br> County Road
      U<br> Lipscomb, TX 79056<br> <br> </TD>
    <TD width=25% align=right valign="top"> 1,259,500&nbsp; </TD>
    <TD width=25% align=center valign="top"> 6.14% </TD>
  </TR>
  <TR valign="bottom">
    <TD width=25% align=left valign="top"> Common </TD>
    <TD align=left valign="top"> Charles F. Asher<br> P.O. Box 444<br> Pinehurst,
      ID 83850<br> <br> </TD>
    <TD width=25% align=right valign="top"> 64,000&nbsp; </TD>
    <TD width=25% align=center valign="top"> 0.31% </TD>
  </TR>
  <TR valign="bottom">
    <TD width=25% align=left valign="top"> Common </TD>
    <TD align=left valign="top"> Tina C. Brackebusch<br> P.O. Box 131<br> Silverton,
      ID 83867<br> <br> </TD>
    <TD width=25% align=right valign="top"> 18,000&nbsp; </TD>
    <TD width=25% align=center valign="top"> 0.09% </TD>
  </TR>
  <TR valign="bottom">
    <TD width=25% align=left valign="top"> Common </TD>
    <TD align=left valign="top"> Ronald Eggart<br>
      HC-01 Box 187 <br>
      Kellogg, ID 83837<br> </TD>
    <TD width=25% align=right valign="top"> 57,332&nbsp; </TD>
    <TD width=25% align=center valign="top"> 0.28% </TD>
  </TR>
  <TR valign="bottom">
    <TD width=25% align=left valign="top"> Common </TD>
    <TD align=left valign="top"> M. Kathleen Sims<br> 2745 Seltice Way<br> Coeur
      d'Alene, ID 83814<br> <br> </TD>
    <TD width=25% align=right valign="top"> 3,000&nbsp; </TD>
    <TD width=25% align=center valign="top"> 0.01% </TD>
  </TR>
  <TR valign="bottom">
    <TD width=25% align=left valign="top"> Common </TD>
    <TD align=left valign="top"> All Directors and Officers as<br> a group (6
      individuals)</TD>
    <TD width=25% align=right valign="top"> 9,387,708&nbsp; </TD>
    <TD width=25% align=center valign="top"> 45.79%</TD>
  </TR>
</TABLE>

(1)Based upon 20,512,890 outstanding shares of common stock on June 28, 2004.</p>
<p> 5</P>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">


<A name="page_6"></A>

<P align="justify"> (a) Fred Brackebusch owns 89.6% of Mine Systems Design, Inc.
  (MSD) which is a Subchapter S corporation that owns 8,807,000 common shares
  of the Company. Neither MSD nor Fred Brackebusch have the right to acquire any
  securities pursuant to options, warrants, conversion privileges or other rights.</P>
<P align="justify"> (b) Grant Brackebusch owns 10.4% of Mine Systems Design, Inc.
  (MSD) which is a Subchapter S corporation that owns 8,807,000 common shares
  of the Company. Neither MSD nor Grant Brackebusch have the right to acquire
  any securities pursuant to options, warrants, conversion privileges or other
  rights.</P>
<P align="justify"> None of the directors or officers has the right to acquire
  any securities pursuant to options, warrants, conversion privileges or other
  rights. </P>
<BR>
<P align="center"> [The balance of this page intentionally left blank]</P>
<P align="center">&nbsp;</P>
<P align="left">6</P>

<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">
<A name="page_7"></A> <br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR>
    <TD nowrap valign=top> <B>7.</B>&nbsp; &nbsp; &nbsp; </TD>
    <TD> <div align="justify"><B>Required Approvals. </B>By unanimous consent
        the Board of Directors of the Company unanimously adopted resolutions
        (1) to elect Fred W. Brackebusch, Grant A. Brackebusch, Charles Asher,
        Ronald Eggart and Kathleen Sims to the Board of Directors of the Company
        to serve for a one-year term or until his/her respective successor is
        elected and has qualified. </div></TD>
  </TR>
  <TR>
    <TD colspan=2>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD> <div align="justify">Directors are elected by a plurality of the votes
        cast by the holders of the Common Stock meeting at which a quorum is present.
        "Plurality" means that the individuals who receive the largest number
        of votes cast are elected as Directors up to the maximum number of Directors
        to be chosen at the meeting. Consequently, any shares not voted (whether
        by abstentions, broker non-votes or otherwise) have no impact in the election
        of Directors, except to the extent the failure to vote for an individual
        results in another individual receiving a larger number of votes. The
        election of Directors will be accomplished by determining the five nominees
        receiving the highest total votes. </div></TD>
  </TR>
  <TR>
    <TD colspan=2>&nbsp;</TD>
  </TR>
  <TR>
    <TD nowrap valign=top> <B>8.</B>&nbsp; &nbsp; &nbsp; </TD>
    <TD> <div align="justify"><B>Dissenters' Rights. </B>There are no dissenters'
        rights applicable to any matters to be considered at the Annual Meeting.
      </div></TD>
  </TR>
</TABLE>
<P align="center">
<B>RECENT MARKET PRICES</B><BR>
</P>
<P align="justify"> Our common stock currently trades on the OTC Bulletin Board
  under the symbol "NJMC". The following table sets forth the range of high and
  low bid prices as reported by the Over the Counter Bulletin Board ("OTCBB")
  for the periods indicated These quotations represent inter-dealer prices, without
  retail mark-up, markdown or commission, and may not represent actual transactions.
</P>
<TABLE width="80%" border="2" cellpadding="3" cellspacing="0" bordercolor="#000000" style="font-size:10pt;border-color:black;border-collapse:collapse;">
  <TR valign="bottom">
    <TD align=left> <B>Year Ending December 31, 2003</B>&nbsp; </TD>
    <TD width=25% align=center valign="top"> <B>High Bid</B>&nbsp; </TD>
    <TD width=25% align=center valign="top"> <B>Low Bid</B>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> First Quarter&nbsp; </TD>
    <TD width=25% align=center valign="top"> $0.65&nbsp; </TD>
    <TD width=25% align=center valign="top"> $0.29&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> Second Quarter&nbsp; </TD>
    <TD width=25% align=center valign="top"> $0.48&nbsp; </TD>
    <TD width=25% align=center valign="top"> $0.27&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> Third Quarter&nbsp; </TD>
    <TD width=25% align=center valign="top"> $0.56&nbsp; </TD>
    <TD width=25% align=center valign="top"> $0.27&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> Fourth Quarter&nbsp; </TD>
    <TD width=25% align=center valign="top"> $0.90&nbsp; </TD>
    <TD width=25% align=center valign="top"> $0.44&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> <B>Year Ending December 31, 2002</B>&nbsp; </TD>
    <TD width=25% align=center valign="top"> <B>High Bid</B>&nbsp; </TD>
    <TD width=25% align=center valign="top"> <B>Low Bid</B>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> First Quarter&nbsp; </TD>
    <TD width=25% align=center valign="top"> $0.12&nbsp; </TD>
    <TD width=25% align=center valign="top"> $0.07&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> Second Quarter&nbsp; </TD>
    <TD width=25% align=center valign="top"> $0.40&nbsp; </TD>
    <TD width=25% align=center valign="top"> $0.09&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> Third Quarter&nbsp; </TD>
    <TD width=25% align=center valign="top"> $0.38&nbsp; </TD>
    <TD width=25% align=center valign="top"> $0.21&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> Fourth Quarter&nbsp; </TD>
    <TD width=25% align=center valign="top"> $0.35&nbsp; </TD>
    <TD width=25% align=center valign="top"> $0.24&nbsp; </TD>
  </TR>
</TABLE>
<p>7 </p>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">


<A name="page_8"></A>
<p> Shareholders<BR>
</p>
<P align="justify"> As of June 28, 2004 there were approximately 900 shareholders
  of record of the Company's Common Stock. As of June 28, 2004 the Company had
  issued and outstanding 20,512,890 shares of Common Stock, and the Company had
  1,374,375 warrants outstanding for a fully diluted total of 21,887,265.<BR>
</P>
<P align="center"> [The balance of this page intentionally left blank]</P>
<P align="center">&nbsp;</P>
<P align="left"><BR>
  8 </P>

<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">


<A name="page_9"></A>

<P align="justify"> <B>THE FOLLOWING PROPOSALS ARE SUBMITTED TO THE SHAREHOLDERS
  FOR CONSIDERATION AT THE ANNUAL MEETING OF SHAREHOLDERS:</B> </P>
<P align="justify"> <B>1. ELECTION OF DIRECTORS </B></P>
<P align="justify"> At the meeting, five (5) Directors are to be elected who shall
  hold office until the next Annual Meeting of Shareholders and until their respective
  successors shall have been elected and qualified.</P>
<P align="justify"> The Proxies appointed in the accompanying Proxy intend to
  vote, unless directed to the contrary therein, in their discretion, for the
  election to the Board of Directors of the five persons named below, all of whom
  management believes are willing to serve the Company in such capacity. However,
  if any nominee at the time of election is unable or unwilling to serve, or is
  otherwise unavailable for election, such that substitute nominees are designated,
  the Proxies in their discretion intend to vote for all or a lesser number of
  such other nominees. </P>
<P align="justify"> The nominees for Directors, together with certain information
  with respect to them, are as follows:</P>
<TABLE width="100%" border="2" cellpadding="3" cellspacing="0" bordercolor="#000000" style="font-size:10pt;border-color:black;border-collapse:collapse;">
  <TR valign="bottom">
    <TD width=27% align=left valign="top"> <B>Name &amp; Address</B>&nbsp; </TD>
    <TD width=15% align=left> <B>Age</B>&nbsp; </TD>
    <TD width=27% align=left valign="top"> <B>Position</B>&nbsp; </TD>
    <TD width=27% align=left valign="top"> <B>Date First Elected</B>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=27% align=left valign="top"> Fred W. Brackebusch&nbsp; <br> P.O.
      Box 1019&nbsp; <br> Kellogg, Idaho 83837&nbsp; <br> </TD>
    <TD width=15% align=left valign="top"> 59&nbsp; </TD>
    <TD width=27% align=left valign="top"> President, Director &amp;&nbsp; <br>
      Treasurer&nbsp; </TD>
    <TD width=27% align=left valign="top"> 7/18/1996&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=27% align=left valign="top"> Grant A. Brackebusch&nbsp; <br> P.O.
      Box 131&nbsp; <br> Silverton, ID 83867&nbsp; <br> </TD>
    <TD width=15% align=left valign="top"> 34&nbsp; </TD>
    <TD width=27% align=left valign="top"> Vice President &amp;&nbsp; Director&nbsp;
    </TD>
    <TD width=27% align=left valign="top"> 7/18/1996&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=27% align=left valign="top"> Charles F. Asher&nbsp; <br> P.O. Box&nbsp;
      <br> Pinehurst, ID 83850&nbsp; <br> </TD>
    <TD width=15% align=left valign="top"> 80&nbsp; </TD>
    <TD width=27% align=left valign="top"> Director&nbsp; </TD>
    <TD width=27% align=left valign="top"> 1/1/1997&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=27% align=left valign="top"> Tina C. Brackebusch&nbsp; <br> P.O.
      Box 131&nbsp; <br> Silverton, ID 83867&nbsp; <br> </TD>
    <TD width=15% align=left valign="top"> 34&nbsp; </TD>
    <TD width=27% align=left valign="top"> Secretary&nbsp; </TD>
    <TD width=27% align=left valign="top"> 1/1/1997&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=27% align=left valign="top"> Ronald Eggart (1)&nbsp; <br> HC-01
      Box 187&nbsp; <br> Kellogg, ID 83837&nbsp; <br> </TD>
    <TD width=15% align=left valign="top"> 82&nbsp; </TD>
    <TD width=27% align=left valign="top"> Director&nbsp; </TD>
    <TD width=27% align=left valign="top"> 1/1/1997&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=27% align=left valign="top"> M. Kathleen Sims (1)&nbsp; <br> 2745
      Seltice Way&nbsp; <br> Coeur d'Alene, ID 83814&nbsp; <br> </TD>
    <TD width=15% align=left valign="top"> 59&nbsp; </TD>
    <TD width=27% align=left valign="top"> Director&nbsp; </TD>
    <TD width=27% align=left valign="top"> 9/25/2003&nbsp; </TD>
  </TR>
</TABLE>
 (1) Member of the Audit Committee
<P align="justify"> Directors are elected by shareholders at each annual shareholders
  meeting to hold office until the next annual meeting of shareholders or until
  their respective successors are elected and qualified. </P>
<p>9</p>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">


<A name="page_10"></A>

<P align="justify"> <B>Fred W. Brackebusch, P.E.</B> is the President and a Director
  of the Company. He has a B.S. and an M.S. in Geological Engineering both from
  the University of Idaho. He is a consulting engineer with extensive experience
  in mine development, mine backfill, mine management, permitting, process control
  and mine feasibility studies. He has over 25 years of experience in the Coeur
  d'Alene Mining District principally with Hecla Mining Co. He has been the principal
  owner of Mine Systems Design, Inc., a mining consulting business, since 1987.
  Mr. Brackebusch is also on the Board of Directors of Mascot Silver-Lead Mines,
  Inc. </P>
<P align="justify"> <B>Grant A. Brackebusch, P.E.</B> is the Vice President and
  a Director of the Company. He holds a B.S. in Mining Engineering from the University
  of Idaho. He worked for Newmont Gold Co. in open pit mine planning and pit supervision
  for 3 years. Since that time he as worked with Mine Systems Design performing
  various engineering and geotechnical tasks. He supervises the daily operations
  of New Jersey Mining Co. which include management of drilling programs, construction,
  engineering, and is also responsible for the Company's SEC reporting and environmental
  monitoring. </P>
<P align="justify"> <B>Charles Asher</B> is a Director of the Company. He is also
  President and a Director of Mascot Silver-Lead Mines Inc. He was formerly President
  of Plainview Mining Co. and Silver Trend Mining Co. Mr. Asher has extensive
  experience as an underground mine operator in the Coeur d'Alene Mining District.
</P>
<P align="justify"> <B>Tina C. Brackebusch </B>is Secretary of the Company. She
  has served as Office Manager for the Company. She holds a B.S. in Secondary
  Education from the University of Idaho. </P>
<P align="justify"> <B>Ronald Eggart</B> is a Director of the Company. He is a
  retired CPA with a long record of experience with Coeur d'Alene Mining District
  mining ventures. He is also a Director and Secretary for Mascot Silver-Lead
  Mines Inc. </P>
<P align="justify"> <B>M. Kathleen Sims</B> is a Director of the Company. She
  is a successful businesswoman who is majority owner of a car dealership. She
  is a former State Senator in the Idaho Legislature. She is a former member of
  the State of Idaho Human Rights Commission and is active in the Idaho Republican
  Party. She has extensive experience in starting a business with all the necessary
  experience in financing, business plans and management. </P>
<P align="justify"> Family Relationships </P>
<P align="justify"> Fred W. Brackebusch is the father of Grant A. Brackebusch.
  Tina C. Brackebusch is the wife of Grant A. Brackebusch. </P>
<P align="justify"> Legal Proceedings </P>
<P align="justify"> No Director or Officer has been involved in any legal action
  involving the Company for the past five years. </P>
<div align="justify">
  <p>10</p>
</div>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">


<A name="page_11"></A>

<P align="justify"> <B>Compensation of Directors and Officers </B></P>
<P align="justify"> A summary of cash and other compensation for the Company=s
  President and Chief Executive Officer for the four most recent years is as follows:
</P>
<P align="center"> <B>EXECUTIVE COMPENSATION </B></P>
<P align="center"> <B>SUMMARY COMPENSATION TABLE</B> </P>
<TABLE width="100%" border="2" cellpadding="3" cellspacing="0" bordercolor="#000000" style="font-size:10pt;border-color:black;border-collapse:collapse;">
  <TR valign="bottom">
    <TD align=left valign="top"> Name &amp;<br>
      Principal<br>
      Position</TD>
    <TD width=11% align=center valign="top"> Year</TD>
    <TD width=11% align=center valign="top"> Salary<br>
      ($)</TD>
    <TD width=11% align=center valign="top"> Bonus<br> ($) </TD>
    <TD width=11% align=center valign="top"> Other<br> Annual<br> Comp. ($)</TD>
    <TD width=11% align=center valign="top"> Restricted<br> Stock<br> Awards ($)</TD>
    <TD width=11% align=center valign="top"> Securities<br> Underlying<br> Options
      (#)</TD>
    <TD width=11% align=center valign="top"> LTIP<br> Payouts<br> ($)</TD>
    <TD width=11% align=center valign="top"> All Other<br> Compensation <br> ($)</TD>
  </TR>
  <TR valign="bottom">
    <TD rowspan="3" align=left valign="top"> Fred&nbsp; <br> Brackebusch&nbsp;
      <br> President&nbsp; <br> </TD>
    <TD width=11% align=center valign="top"> 2001&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 300&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=11% align=center valign="top"> 2002&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 450&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=11% align=center valign="top"> 2003&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 68,701&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD rowspan="3" align=left valign="top"> Grant&nbsp; <br> Brackebusch&nbsp;
      <br> Vice&nbsp; <br> President&nbsp; <br> </TD>
    <TD width=11% align=center valign="top"> 2001&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 300&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=11% align=center valign="top"> 2002&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 450&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=11% align=center valign="top"> 2003&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 70,825&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD rowspan="3" align=left valign="top"> Charles. F.&nbsp; <br> Asher&nbsp;
      <br> Director&nbsp; <br> </TD>
    <TD width=11% align=center valign="top"> 2001&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 300&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=11% align=center valign="top"> 2002&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 450&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=11% align=center valign="top"> 2003&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 1,200&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD rowspan="3" align=left valign="top"> Tina&nbsp; <br> Brackebusch&nbsp;
      <br> Secretary&nbsp; <br> </TD>
    <TD width=11% align=center valign="top"> 2001&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 300&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=11% align=center valign="top"> 2002&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 450&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=11% align=center valign="top"> 2003&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 1,200&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD rowspan="3" align=left valign="top"> Ronald&nbsp; <br> Eggart&nbsp; <br>
      Director&nbsp; <br> </TD>
    <TD width=11% align=center valign="top"> 2001&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 300&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=11% align=center valign="top"> 2002&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 450&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=11% align=center valign="top"> 2003&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 1,200&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD rowspan="3" align=left valign="top"> M. Kathleen&nbsp; <br> Sims&nbsp;
      <br> Director&nbsp; <br> </TD>
    <TD width=11% align=center valign="top"> 2001&nbsp; </TD>
    <TD width=11% align=center valign="top"> N/A&nbsp; </TD>
    <TD width=11% align=center valign="top"> N/A&nbsp; </TD>
    <TD width=11% align=center valign="top"> N/A&nbsp; </TD>
    <TD width=11% align=center valign="top"> N/A&nbsp; </TD>
    <TD width=11% align=center valign="top"> N/A&nbsp; </TD>
    <TD width=11% align=center valign="top"> N/A&nbsp; </TD>
    <TD width=11% align=center valign="top"> N/A&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=11% align=center valign="top"> 2002&nbsp; </TD>
    <TD width=11% align=center valign="top"> N/A&nbsp; </TD>
    <TD width=11% align=center valign="top"> N/A&nbsp; </TD>
    <TD width=11% align=center valign="top"> N/A&nbsp; </TD>
    <TD width=11% align=center valign="top"> N/A&nbsp; </TD>
    <TD width=11% align=center valign="top"> N/A&nbsp; </TD>
    <TD width=11% align=center valign="top"> N/A&nbsp; </TD>
    <TD width=11% align=center valign="top"> N/A&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=11% align=center valign="top"> 2003&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 1,200&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
    <TD width=11% align=center valign="top"> 0&nbsp; </TD>
  </TR>
</TABLE>
<P align="justify"> At a Board of Directors meeting on December 9, 2003, the Directors
  approved a compensation plan for the Board of Directors and Management. For
  the Directors and the Secretary it was approved to increase the annual compensation
  to 10,000 common shares of restricted stock, commencing in 2004. Also, as a
  result of the need for full time management the following salaries were approved
  for 2004 by the Directors: Fred W. Brackebusch, $3,000 per month for management,
  Grant A. Brackebusch, $6,000 per month for management and Tina C. Brackebusch,
  $12 per hour for secretarial work.</P>
<P align="justify"> Officers and Directors were paid for their services with 3,000
  shares of restricted common stock per year for the years 2001, 2002 and 2003.
  A value of $0.10 per share was ascribed to the shares in 2001, $0.15 per share
  in 2002 and $0.40 per share in 2003.</P>
<p>11</p>
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<A name="page_12"></A>
<p align="justify"><B>Board Committees</B></p>
<P align="justify"> At a Board of Directors meeting on December 9, 2003, the Directors
  approved an audit committee comprised of Ronald Eggart and M. Kathleen Sims.
  Each member of the audit committee is deemed to be an independent director as
  that term is defined in Rule 4200(a)(14) of the NASD's listing standards. Mr.
  Eggart is considered to be an audit committee financial expert as the term is
  defined under applicable SEC rules. The Board adopted an audit committee pre-approval
  policy. The audit committee is required to pre-approve the audit and non-audit
  services performed by the independent auditor in order to assure that the provision
  of such services do not impair the auditor's independence.</P>
<P align="justify"> The Company does not have a standing nominating committee.
  It is the Board of Directors' view that it is unnecessary for a small company
  to have nominating committee. All Directors participate in the consideration
  and selection of director nominees. </P>
<div align="justify"><B>Board Recommendation</B></div>
<P align="justify"> The Board of Directors recommends a vote FOR each nominee
  to the Board of Directors.</P>
<P align="center"> <B>COMPLIANCE WITH SECTION 16(a)<br>
  OF THE SECURITIES EXCHANGE ACT OF 1934</B></P>
<P align="justify"> Based solely upon a review of forms 3 and 4 and amendments
  thereto furnished to the Registrant pursuant to Section 240.16a -3 during the
  most recent fiscal year, and Form 5 and amendments thereto furnished to the
  Registrant with respect to the most recent fiscal year, no person who at any
  time during the fiscal year was a director, officer, or beneficial owner or
  more than ten percent of any class of equity securities of the Registrant registered
  pursuant to Section 12 of the Exchange Act, or any other person subject to Section
  16 of the Exchange Act with respect to the Registrant because of the requirements
  of Section 30 of the Investment Company Act or Section 17 of the Public Utility
  Holding Company Act (A reporting person) failed to file on a timely basis, as
  disclosed in the above Forms, reports required by Section 16(a) of the Exchange
  Act during the most recent fiscal year or prior fiscal years, except <I>Fred
  W. Brackebusch (one report, 5 transactions), Grant A. Brackebusch (one report,
  4 transactions), Tina C. Brackebusch (one report, 4 transactions), Ronald Eggart
  (one report, 4 transactions), Charles F. Asher (one report, 4 transactions)
  and M. Kathleen Sims (one report, 1 transaction). </I></P>
<P align="center">
<B>ADDITIONAL</B><B> </B><B>SHAREHOLDER</B><B> </B><B>INFORMATION</B></P>
<div align="justify"><B>Shareholder Proposals for 2005 Annual Meeting</B></div>
<P align="justify"> The Company will review shareholder proposals intended to
  be included in the Company's proxy materials for the 2005 Annual Meeting of
  Shareholders which are received by the Company at its principal executive</P>
<p>12</p>
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<A name="page_13"></A>

<P align="justify"> offices no later than April 13, 2005 (unless the date of the
  next annual meeting is changed by more than 30 days from the date of this year's
  meeting, in which case the proposal must be received a reasonable time before
  the Company begins to print and mail its proxy materials). Such proposals must
  be submitted in writing and should be sent to the attention of the Secretary
  of the Company. The Company will comply with Rule 14a-8 of the Exchange Act
  with respect to any proposal that meets its requirements. </P>
<div align="justify"><B>Annual Report</B><BR>
</div>
<P align="justify"> The Company's Annual Report to Shareholders is being mailed
  to all Shareholders with this Proxy Statement. The Annual Report is not part
  of the proxy solicitation materials for the Annual Meeting. In addition, a Shareholder
  of record will receive a copy of the Company's Form 10-KSB for the fiscal year
  ended December 31, 2003. The Company's Form 10KSB may also be accessed at the
  SEC's website at <U><FONT color="#0000ff">www.sec.gov</FONT></U>.</P>
<P align="justify"> <B>Other Business </B></P>
<P align="justify"> As of the date of this Proxy Statement, the Board of Directors
  is not aware of any matters that will be presented for action at the Annual
  Meeting other than those described above. However, should other business properly
  be brought before the Annual Meeting, the proxies will be voted thereon in the
  discretion of the persons acting hereunder. </P>
<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="50%" valign="top">&nbsp;</td>
    <td>By Order of the Board of Directors </td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td valign="top">&nbsp;</td>
    <td>Fred W. Brackebusch, President</td>
  </tr>
</table>
<P align="justify">13</P>
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<A name="page_14"></A> <br>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR valign="top">
    <TD align=left> 1. Election of Directors (check one)&nbsp; </TD>
    <TD colspan="2"> For each nominee listed below prorate&nbsp; </TD>
    <TD width=5% align=left>&nbsp;</TD>
    <TD width=25% align=left>&nbsp;</TD>
  </TR>
  <TR valign="top">
    <TD align="left">&nbsp; </TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
  </TR>
  <TR valign="top">
    <TD align=left>&nbsp; </TD>
    <TD width=10%>&nbsp; </TD>
    <TD colspan=3 align=left> To withhold authority for proxies to vote for any&nbsp;
    </TD>
  </TR>
  <TR valign="top">
    <TD align=left>&nbsp; </TD>
    <TD width=10%>&nbsp; </TD>
    <TD colspan=3 align=left> nominee please cross out such persons name&nbsp;
    </TD>
  </TR>
  <TR valign="top">
    <TD align="left">&nbsp; </TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
  </TR>
  <TR valign="top">
    <TD align=left>&nbsp; </TD>
    <TD width=10%>&nbsp; </TD>
    <TD width=25% align=right>&nbsp;</TD>
    <TD width=5% align=right><strong>&nbsp;<font size="3" face="WINGDINGS">&#168;</font>
      </strong> </TD>
    <TD width=25% align=left> &nbsp;Charles Asher&nbsp; </TD>
  </TR>
  <TR valign="top">
    <TD align=left>&nbsp; </TD>
    <TD width=10%>&nbsp; </TD>
    <TD width=25% align=right>&nbsp;</TD>
    <TD width=5% align=right> <strong>&nbsp;<font size="3" face="WINGDINGS">&#168;</font>
      </strong> </TD>
    <TD width=25% align=left> &nbsp;Fred W. Brackebusch&nbsp; </TD>
  </TR>
  <TR valign="top">
    <TD align=left>&nbsp; </TD>
    <TD width=10%>&nbsp; </TD>
    <TD width=25% align=right>&nbsp;</TD>
    <TD width=5% align=right> <strong>&nbsp;<font size="3" face="WINGDINGS">&#168;</font>
      </strong> </TD>
    <TD width=25% align=left> &nbsp;Grant A. Brackebusch&nbsp; </TD>
  </TR>
  <TR valign="top">
    <TD align=left>&nbsp; </TD>
    <TD width=10%>&nbsp; </TD>
    <TD width=25% align=right>&nbsp;</TD>
    <TD width=5% align=right> <strong>&nbsp;<font size="3" face="WINGDINGS">&#168;</font>
      </strong> </TD>
    <TD width=25% align=left> &nbsp;Ronald Eggart&nbsp; </TD>
  </TR>
  <TR valign="top">
    <TD align=left>&nbsp; </TD>
    <TD width=10%>&nbsp; </TD>
    <TD width=25% align=right>&nbsp;</TD>
    <TD width=5% align=right> <strong>&nbsp;<font size="3" face="WINGDINGS">&#168;</font>
      </strong> </TD>
    <TD width=25% align=left> &nbsp;Kathleen Simms&nbsp; </TD>
  </TR>
</TABLE>
<BR>
<P align="justify"> 4. In their discretion, the proxies are authorized to vote
  upon such other business as may properly come before the meeting. </P>
<P align="center"> Yes &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No</P>
<P align="justify"> This proxy, when properly executed, will be voted in the manner
  directed herein by the undersigned shareholder. If no direction is made, this
  proxy will be voted for each proposal. </P>
<P align="justify"> Please sign exactly as name appears below. When shares are
  held by joint tenants, both should sign. When signing as attorney, as executor,
  administrator, trustee, or guardian, please give full title as such. If a corporation,
  please sign in full corporate name by President or other authorized officer.
  If a partnership, please sign in partnership name by authorized person. </P>
<P> DATED: __________________________<BR>
   </P>
<P> PLEASE MARK, SIGN, DATE, AND RETURN THIS ______________________________________________<BR>
   PROXY PROMPTLY USING THE ENCLOSED ENVELOPE     </P>
<p>14</p>
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