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<SEC-DOCUMENT>0001062993-04-001217.txt : 20040811
<SEC-HEADER>0001062993-04-001217.hdr.sgml : 20040811
<ACCEPTANCE-DATETIME>20040811114655
ACCESSION NUMBER:		0001062993-04-001217
CONFORMED SUBMISSION TYPE:	10QSB
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20040630
FILED AS OF DATE:		20040811

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:		10QSB
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28837
		FILM NUMBER:		04966205

	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>10QSB
<SEQUENCE>1
<FILENAME>form10qsb.htm
<DESCRIPTION>QUARTERLY REPORT FOR THE PERIOD ENDED JUNE 30, 2004
<TEXT>
<!DOCTYPE HTML PUBLIC "form10qsb">


<HTML>
<HEAD>
   <TITLE>Filed by Automated Filing Services Inc. (604) 609-0244 - New Jersey Mining Company - Form 10-QSB</TITLE>


</HEAD>

<BODY bgcolor="#FFFFFF" style="font-size: 10pt;">


<A name="page_i"></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">FORM 10-QSB</font></B></P>

<P align="center"> <font size="3" face="WINGDINGS"><strong>&#120;</strong></font><strong>&nbsp;&nbsp;</strong>QUARTERLY
  REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
</P>
<P align="center"> For the quarterly period ended&nbsp;&nbsp;<u><strong>June 30,
  2004 </strong></u></P>
<P align="center"> <font size="3" face="WINGDINGS"><strong>&#168;</strong></font><strong>&nbsp;&nbsp;</strong>TRANSITION
  REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
</P>
<P align="center"> For the transition period from ______ to ______</P>
<P align="center"> Commission file number:<strong><u> 000-28837 </u></strong></P>
<P align="center"> <B><u><font size="5">NEW JERSEY MINING COMPANY </font></u></B><br>
  (Exact name of registrant as specified in its charter)</P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR valign="bottom">
    <TD width=50% align=center> <B><U>Idaho</U></B></TD>
    <TD align=center> <B><U>82-0490295</U></B></TD>
  </TR>
  <TR valign="bottom">
    <TD width=50% align=center> (State or other jurisdiction</TD>
    <TD align=center> (IRS employer identification no.)</TD>
  </TR>
  <TR valign="bottom">
    <TD width=50% align=center> of incorporation )</TD>
    <TD align=center>&nbsp; </TD>
  </TR>
</TABLE>
</P>
<p align="center"><B><U>89 Appleberg Road, Kellogg, Idaho 83837</U></B><B> </B>
  <br>
  (Address of principal executive offices) </p>
<P align="center"> Registrant's telephone number, including area code:<strong><u>
  (208) 783-3331</u></strong></P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR valign="bottom">
    <TD width=50% align=center> <B><u>Common Stock</u></B></TD>
    <TD align=center> <B><u>The OTC-Bulletin Board</u></B></TD>
  </TR>
  <TR valign="bottom">
    <TD width=50% align=center> Title of each class</TD>
    <TD align=center> Name and exchange on which registered</TD>
  </TR>
</TABLE>
<div align="center"><BR></P>
  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. </div>
<P align="center"> Yes <font size="3" face="WINGDINGS"><strong>&#120;</strong></font><strong>&nbsp;&nbsp;</strong>
  No <font size="3" face="WINGDINGS"><strong>&#168;</strong></font><strong>&nbsp;&nbsp;</strong></P>
<P align="center"> On July 30, 2004, 20,512,890 shares of the registrant's common
  stock were outstanding. </P>

<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">
<A name="page_ii"></A>
<P align="center"> <B>NEW JERSEY MINING COMPANY <br>
  QUARTERLY REPORT ON FORM 10-QSB </B><br>
  <B>FOR THE QUARTERLY PERIOD </B> <B>ENDED JUNE 30, 2004 </B></P>
<P align="center">
<B>TABLE OF CONTENTS </B></P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width=10% align=center> Page</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#EEEEEE">
    <TD align=left> <a href="#page_1">PART I &#150; FINANCIAL INFORMATION</a></TD>
    <TD width=10% align=center>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD width=10% align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#EEEEEE">
    <TD align=left><a href="#page_1"> Item 1: Financial Statements</a></TD>
    <TD width=10% align=center><a href="#page_1"> 1</a></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD width=10% align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#EEEEEE">
    <TD align=left><a href="#page_4"> Item 2: Management's Discussion and Analysis
      of Financial Condition and Plan of Operation</a></TD>
    <TD width=10% align=center><a href="#page_4">4 </a></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width=10% align=center>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#EEEEEE">
    <TD align=left><a href="#page_6"> Item 3. Controls and Procedures</a></TD>
    <TD width=10% align=center><a href="#page_6"> 6</a></TD>
  </TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="10%" align="center">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#EEEEEE">
    <TD align=left><a href="#page_7"> PART II &#150; OTHER INFORMATION</a></TD>
    <TD width=10% align=center>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD width=10% align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#EEEEEE">
    <TD align=left><a href="#page_7"> Item 1: Legal Proceedings</a></TD>
    <TD width=10% align=center><a href="#page_7"> 7</a></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD width=10% align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#EEEEEE">
    <TD align=left><a href="#page_7"> Item 2: Changes in Securities</a></TD>
    <TD width=10% align=center><a href="#page_7"> 7</a></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD width=10% align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#EEEEEE">
    <TD align=left><a href="#page_7"> Item 3: Defaults among Senior Securities</a></TD>
    <TD width=10% align=center><a href="#page_7"> 7</a></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD width=10% align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#EEEEEE">
    <TD align=left><a href="#page_7"> Item 4: Submission of Matters to a Vote
      of Security Holders</a></TD>
    <TD width=10% align=center><a href="#page_7"> 7</a></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD width=10% align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#EEEEEE">
    <TD align=left><a href="#page_7"> Item 5: Other Information</a></TD>
    <TD width=10% align=center><a href="#page_7"> 7</a></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD width=10% align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#EEEEEE">
    <TD align=left><a href="#page_7"> Item 6: Exhibits and Reports on Form 8-K</a></TD>
    <TD width=10% align=center><a href="#page_7"> 7</a></TD>
  </TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="10%" align="center">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#EEEEEE">
    <TD align=left><a href="#page_8"> SIGNATURES</a></TD>
    <TD width=10% align=center><a href="#page_8"> 8</a></TD>
  </TR>
</TABLE>
<BR>
<P align="center">
[The balance of this page has been intentionally left blank.] </P>

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


<A name="page_1"></A>

<P align="center">
<B>PART I-FINANCIAL INFORMATION </B></P>
<P align="left"> <B>Item 1. Financial Statements </B></P>
<P align="center"> <B><font size="3">NEW JERSEY MINING COMPANY </font></B><br>
  (A Development Stage Company)<B> <br>
  BALANCE SHEETS </B></P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=center> <B><I>(Unaudited)</I></B> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=12% align=center> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=center> <B>June 30,</B> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=12% align=center> <B>December 31,</B> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=center> <B>2004</B> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=12% align=center> <B>2003</B> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR>
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="6" align=center><B>ASSETS</B> &nbsp; </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left></TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> Current assets:&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Cash and cash equivalents&nbsp;
    </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">$ </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 388,821 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">$ </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 346,268 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Total current assets&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 388,821 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 346,268 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> Building and equipment&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 433,953 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 271,676 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> Mineral properties&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 811,104 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 787,274 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> Other assets&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 5,809 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 2,346 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Total
      assets&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=12% align=right style="border-bottom-width:4px;border-bottom-style:double"> 1,639,687 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=12% align=right style="border-bottom-width:4px;border-bottom-style:double"> 1,407,564 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD colspan="6" align=center> <B>LIABILITIES AND STOCKHOLDERS' EQUITY</B>
    </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> Current liabilities: </TD>
    <TD width=1% align=left>&nbsp;</TD>
    <TD width=12% align=left>&nbsp;</TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Accounts payable&nbsp; </TD>
    <TD width=1%>$ </TD>
    <TD width=12% align=right> 131,290 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>$ </TD>
    <TD width=12% align=right> 11,610 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Notes payable to related
      party&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=left style="border-bottom-width:1px;border-bottom-style:solid"> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 2,000 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Total current liabilities&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 131,290 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 13,610 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR>
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> Accrued reclamation costs&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 12,500 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 12,500 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> Payable to officers, in common stock&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 11,519 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 11,519 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Total liabilities&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 155,309 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 37,629 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> Stockholders' equity:&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Preferred stock, no par
      value; 1,000,000&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;shares authorized; no shares outstanding&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Common stock, no par value;
      50,000,000 shares&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;authorized; 20,512,890 and 18,669,890 shares&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;issued and outstanding&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 2,515,556 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 1,910,456 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR>
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Deficit accumulated during
      the development stage&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> (1,031,178 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> (540,521 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
  </TR>
  <TR>
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Total stockholders' equity&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 1,484,378 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 1,369,935 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR>
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Total liabilities and stockholders' equity&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=12% align=right style="border-bottom-width:4px;border-bottom-style:double"> 1,639,687 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=12% align=right style="border-bottom-width:4px;border-bottom-style:double"> 1,407,564 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
</TABLE>
<BR>
<P align="center"> <I>The accompanying notes are an integral part of the financial
  statements. </I><br>
  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="3">NEW JERSEY MINING COMPANY </font></B><br>
  (A Development Stage Company)<B> </B><br>
  <B>STATEMENTS OF OPERATIONS </B><br>
  <B>For the Three and Six-Month Periods ended June 30, 2004 and 2003 and for
  the period from <br>
  inception (July 18, 1996) through June 30, 2004 </B><br>
  <B><I>(Unaudited) </I></B></P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=center> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=9% align=center> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=9% align=center> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=9% align=center>&nbsp; </TD>
    <TD width=2% align=center>&nbsp;</TD>
    <TD width=1% align=center>&nbsp;</TD>
    <TD width=9% align=center>From Inception</TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=center> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=9% align=center> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=9% align=center> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=9% align=center>&nbsp; </TD>
    <TD width=2% align=center>&nbsp;</TD>
    <TD width=1% align=center>&nbsp;</TD>
    <TD width=9% align=center>(July 18, 1996)</TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="4" align=center>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD colspan="4" align=center>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align="center">&nbsp;</TD>
    <TD align=center>Through </TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD colspan="4" align=center> June 30, 2004 </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD colspan="4" align=center> June 30, 2003 </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=center style="border-bottom-width:1px;border-bottom-style:solid">June 30, 2004 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=center> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=9% align=center> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD colspan="4" align=center> ( <I>As Restated</I> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=9% align=center><I>(As Restated</I> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=center> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=9% align=center> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD colspan="4" align=center> <I>See Note 3)</I> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=9% align=center><I>See Note 3)</I> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=center style="border-bottom-width:1px;border-bottom-style:solid"> Three Months </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=center style="border-bottom-width:1px;border-bottom-style:solid"> Six Months </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=center style="border-bottom-width:1px;border-bottom-style:solid"> Three Months </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center" style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=center style="border-bottom-width:1px;border-bottom-style:solid"> Six Months </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=9% align=center></TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> Operating expenses:&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Expenses paid with common
      stock:&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Management fees&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>$ </TD>
    <TD width=9% align=right> 137,126 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Directors fees&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> 9,450 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Services&nbsp; </TD>
    <TD width=1%>$ </TD>
    <TD width=9% align=right> 1,000 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>$ </TD>
    <TD width=9% align=right> 2,500 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> 22,390 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Exploration&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> 6,600 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> 6,600 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> 14,600 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Exploration expense&nbsp;
    </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> 329,237 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> 364,954 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>$ </TD>
    <TD width=9% align=right> 62,500 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>$ </TD>
    <TD width=9% align=right> 65,390 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> 478,338 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;General and administrative
      expenses&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 59,673 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 118,446 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 28,562 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 35,117 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 309,321 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Total operating expenses&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 396,510 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 492,500 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 91,062 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 100,507 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 971,225 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR>
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> Other (income) expense:&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Royalty and other income&nbsp;
    </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> (1,025 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> (1,843 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> (304 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> (662 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> (60,997 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Write-off of goodwill&nbsp;
    </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> 30,950 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Write-off of investment&nbsp;
    </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 90,000 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Total other (income) expense&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> (1,025 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> (1,843 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> (304 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> (662 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 59,953 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR>
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> <B>Net loss</B>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=9% align=right style="border-bottom-width:4px;border-bottom-style:double"> 395,485 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=9% align=right style="border-bottom-width:4px;border-bottom-style:double"> 490,657 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=9% align=right style="border-bottom-width:4px;border-bottom-style:double"> 90,758 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=9% align=right style="border-bottom-width:4px;border-bottom-style:double"> 99,845 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=9% align=right style="border-bottom-width:4px;border-bottom-style:double"> <U>1,031,178</U> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR>
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> Net loss per common share-basic&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=9% align=right style="border-bottom-width:4px;border-bottom-style:double"> 0.020 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=9% align=right style="border-bottom-width:4px;border-bottom-style:double"> 0.025 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=9% align=right style="border-bottom-width:4px;border-bottom-style:double"> nil</TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=9% align=right style="border-bottom-width:4px;border-bottom-style:double"> nil </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=9% align=right style="border-bottom-width:4px;border-bottom-style:double"> 0.078 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR>
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%" align="right">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> Weighted average common shares&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=9% align=right> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> Outstanding-basic&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:4px;border-bottom-style:double"> 20,165,555 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:4px;border-bottom-style:double"> 19,884,972 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:4px;border-bottom-style:double"> 17,097,287 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:4px;border-bottom-style:double"> 16,917,761 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">&nbsp; </TD>
    <TD width=9% align=right style="border-bottom-width:4px;border-bottom-style:double"> 13,189,980 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
</TABLE>
<p align="center"><BR>
  <I>The accompanying notes are an integral part of these financial statements.</I><br>
  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><font size="3">NEW JERSEY MINING COMPANY </font></B><br>
  (A Development Stage Company)<B> </B><br>
  <B>STATEMENTS OF CASH FLOWS </B><br>
  <B>For the Six-Month Periods ended June 30, 2004 and 2003 and for the period
  from<br>
  inception (July 18, 1996) through June 30, 2004 </B><br>
  <B><I>(Unaudited) </I></B></P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=center> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=12% align=center> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=12% align=center> From Inception </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=center> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=12% align=center> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=12% align=center> (July 18, 1996) </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=center> June 30, </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=12% align=center> June 30, </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=12% align=center> Through </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=center> <U>2004</U> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=12% align=center> <U>2003</U> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=12% align=center> <U>June 30, 2004</U> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=center> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=12% align=center> <I>(As Restated</I> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=12% align=center> <I>(As Restated</I> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=center> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=12% align=center> <I>See Note 3)</I> </TD>
    <TD width=2% align=center>&nbsp; </TD>
    <TD width=1% align="center">&nbsp; </TD>
    <TD width=12% align=center> <I>See Note 3 </I><I>)</I> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> Cash flows from operating activities:&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Net loss&nbsp; </TD>
    <TD width=1%>$ </TD>
    <TD width=12% align=right> (490,657 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1%>$ </TD>
    <TD width=12% align=right> (99,845 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1%>$ </TD>
    <TD width=12% align=right> (1,031,178 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Adjustments to reconcile
      net loss to net cash&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;used by operating activities:&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Write-off of goodwill&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 30,950 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Write-off of investment&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 90,000 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Stock issued for:&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Management fees&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 137,126 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Directors fees&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 9,450 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Services&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 2,500 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 22,391 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Exploration&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 6,600 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 14,600 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Change in:&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Other assets&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> (3,463 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> (4,087 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Accounts payable&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 119,680 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> (6,512 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 128,320 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Accounts payable to related party&nbsp;
    </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> (2,000 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Accrued reclamation costs and other
      liabilities&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> (46 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 12,500 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Payable to officers&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=left style="border-bottom-width:1px;border-bottom-style:solid"> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=left style="border-bottom-width:1px;border-bottom-style:solid"> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 11,519 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Net
      cash used by operating activities&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> (367,340 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> (106,403 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> (578,409 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> Cash flows from investing activities:&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Purchases of building and
      equipment&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> (162,277 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> (135 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> (236,411 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Purchases of mineral property&nbsp;
    </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> (5,904 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Deferral of development
      costs&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> (23,830 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> (36,500 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> (249,365 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Net
      cash used by investing activities&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> (186,107 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> (36,635 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> (491,680 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
  </TR>
  <TR bgcolor="#E6EFFF">
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> Cash flows from financing activities:&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Exercise of stock purchase
      warrants&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 222,500 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 150,000 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 423,250 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Sales of common stock, net
      of issuance costs&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 373,500 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 1,060,867 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Principal payments on capital
      lease&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> (43,476 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Payments on note payable
      to bank&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=left style="border-bottom-width:1px;border-bottom-style:solid"> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=left style="border-bottom-width:1px;border-bottom-style:solid"> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> (20,000 </TD>
    <TD width=2% align=left> )&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Net
      cash provided by financing activities&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 596,000 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 150,000 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 1,420,641 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR>
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> Cash of acquired companies&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> - </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=left style="border-bottom-width:1px;border-bottom-style:solid"> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 38,269 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR>
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> Net change in cash&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 42,553 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 6,962 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=right> 388,821 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> Cash, beginning of period&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 346,268 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 40,436 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:1px;border-bottom-style:solid">&nbsp; </TD>
    <TD width=12% align=right style="border-bottom-width:1px;border-bottom-style:solid"> 0 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> Cash, end of period&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=12% align=right style="border-bottom-width:4px;border-bottom-style:double"> 388,821 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=12% align=right style="border-bottom-width:4px;border-bottom-style:double"> 47,398 </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=12% align=right style="border-bottom-width:4px;border-bottom-style:double"> 388,821 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR>
    <TD align="left">&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> Non-cash investing and financing activities:&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Common stock issued for:&nbsp;
    </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Equipment&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=12% align=right style="border-bottom-width:4px;border-bottom-style:double"> 3,000 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Mineral properties&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=12% align=right style="border-bottom-width:4px;border-bottom-style:double"> 199,300 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E6EFFF">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Acquisitions of companies, excluding cash&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=12% align=right style="border-bottom-width:4px;border-bottom-style:double"> 743,653 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD align=left> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Capital lease obligation for equipment acquired&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1%>&nbsp; </TD>
    <TD width=12% align=left> </TD>
    <TD width=2% align=left>&nbsp; </TD>
    <TD width=1% style="border-bottom-width:4px;border-bottom-style:double">$ </TD>
    <TD width=12% align=right style="border-bottom-width:4px;border-bottom-style:double"> 18,275 </TD>
    <TD width=2% align=left>&nbsp; </TD>
  </TR>
</TABLE>
<BR>
<P align="center"> <I>The accompanying notes are an integral part of these financial
  statements. <br>
  3 </I></P>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">
<A name="page_4"></A>
<P align="center"> <B><font size="3">NEW JERSEY MINING COMPANY </font></B><br>
  <B> NOTES TO FINANCIAL STATEMENTS </B><br>
  <B><I>(Unaudited</I></B><B><I>) </I></B></P>
<P align="justify"> <B>1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basis
  of Presentation: </B></P>
<P align="justify"> The unaudited financial statements have been prepared by 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-QSB. 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. Operating
  results for the six month period ended June 30, 2004 are not necessarily indicative
  of the results that may be expected for the full year ending December 31, 2004.
</P>
<P align="justify"> For further information refer to the financial statements
  and footnotes thereto in the Company's Annual Report on Form 10-KSB for the
  year ended December 31, 2003. </P>
<P align="justify"> <B>2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Description
  of Business </B></P>
<P align="justify"> New Jersey Mining Company ("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. </P>
<P align="justify"> <B>3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restated
  Financial Statements </B></P>
<P align="justify"> <U>Change in Accounting Policy </U> </P>
<P align="justify"> During the fourth quarter of 2003, the Company changed its
  accounting policy, retroactive to January 1, 2002, with respect to its accounting
  for exploration costs. The Company now records exploration costs as operating
  expenses in the period that they occur, and only capitalizes exploration costs
  on areas of interest that have proven reserves and are in development for production.
  The Company's previous policy was to capitalize all such expenditures as deferred
  development costs of the properties being explored. The change was made in order
  for the Company's accounting practices to be consistent with prevailing mining
  industry accounting trends and securities regulations. </P>
<P align="justify"> The effect of this change for the three month period and six
  month period ended June 30, 2003 was an increase in net loss of $62,500 and
  $65,390, respectively. The effect on net loss per share for same periods was
  nominal.</P>
<P align="justify"> <B>Item 2. Management's Discussion and Analysis of Financial
  Condition and Plan of Operation</B> </P>
<P align="justify"> <B><I>General </I></B></P>
<P align="justify"> This report contains both historical and prospective statements
  concerning the Company and its operations. Prospective statements (known as
  "forward-looking statements") may or may not prove true with the passage of
  time because of future risks and uncertainties. The Company cannot predict what
  factors might cause actual results to differ materially from those indicated
  by prospective statements. </P>
<P align="center"> 4</P>

<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">
<A name="page_5"></A>
<P align="justify"> <B>Item 2. Management's Discussion and Analysis of Financial
  Condition and Plan of Operation, Continued:</B> </P>
<P align="justify"> <B><I>Plan of Operation </I></B></P>
<P align="justify"> The Company is executing its plan to continue exploration
  for gold, silver and base metal deposits in the greater Coeur d'Alene Mining
  District of northern Idaho. The Company has three mines which are nearly ready
  to commence production: the Golden Chest, the New Jersey, and the Silver Strand.
  Exploration projects at all three mines are being conducted as well as in other
  out-lying areas. </P>
<P align="justify"> An exploration ramp at the Golden Chest mine has recently
  been completed. It exposed a high grade gold vein drilled by Newmont Exploration
  Limited (NEL) about 15 years ago. The Katie Dora vein, which was intercepted
  by the ramp, was then drifted on for a distance of 46 meters. Approximately
  $300,000 was spent on the ramp and the drift. Samples have been taken and the
  results are currently being evaluated to design a mining plan and calculate
  resources. The feasibility of a 50 tonne/day mining operation is being evaluated.
</P>
<P align="justify"> Operating permits for a seasonal mining operation at the Silver
  Strand mine have still not been received from the U.S. Forest Service, although
  a favorable decision seems imminent. The permitting process has now been ongoing
  for over 15 months, which is longer than had been expected. All preproduction
  work must await receipt of the operating permits. Planned pre-production work
  for 2004 has been cancelled because of the permitting delay, but permits should
  be received in order to commence pre-production work in the spring of 2005.
</P>
<P align="justify"> The Company is continuing to upgrade its mineral processing
  plant, the New Jersey mill, to add the flotation process which is needed to
  produce marketable concentrates for smelters. Included in the upgrade are eight
  new flotation cells, pumps, a filter press, a concentrate bin, and various fabricated
  structures. It is expected that completion of the upgrade will be on September
  1, 2004. The mill will be commissioned using ore available from the New Jersey
  open pit mine and from the development material mined at the Golden Chest mine.
</P>
<P align="justify"> An exploration drilling program has been completed in 2004
  with favorable results. Mineralized intercepts have been drilled at the Enterprise
  and Scotch Thistle areas of interest near the New Jersey mine. Drilling at the
  Golden Chest has been especially significant because, not only have gold bearing
  veins been drilled, but an understanding of the mineralization has been gained
  which will aid future exploration. </P>
<P align="justify"> An open pit mine design has been completed for the resource
  drilled by NEL at the Golden Chest mine. While final conclusions have not been
  made, it appears that open pit mining would only be feasible if done in conjunction
  with underground mining. A mineralized material inventory of 230,000 ounces
  of gold (not reserves) determined by NEL was confirmed by the Company's current
  work. </P>
<P align="justify"> A surface geophysical program at the Silver Strand mine is
  underway to test for extension of the mineralized zone both eastward and westward
  on strike. Reconnaissance geochemical sampling has been completed in an area
  surrounding the Silver Strand mine, but results are not yet available. </P>
<P align="center"> 5</P>

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

<P align="justify"> The Company has sufficient funding to complete projects which
  are currently underway, but additional funding will be necessary for projects
  in 2005. Plans are being made to secure additional funding needed. </P>
<P align="justify"> Production is planned to commence in September 2004 when the
  mill upgrade project has been completed. Some cash flow may be generated by
  production in the 4<SUP>th</SUP> quarter of 2004. </P>
<P align="justify"> The Company currently has four employees and uses consultants
  or contractors for project tasks. Up to 8 additional employees may be hired
  in 2005. </P>
<P align="justify"> <B>Item 3. Controls and procedures </B></P>
<P align="justify"> An evaluation was performed by the Company's president and
  principal financial officer of the effectiveness of the design and operation
  of our disclosure controls and procedures. And on that evaluation, the Company's
  president and principal financial officer concluded that disclosure controls
  and procedures were effective as of June 30, 2004, in ensuring that all material
  information required to be filed in this quarterly report has been made known
  to them in a timely fashion. </P>
<P align="justify"> There has been no change in our internal controls over financial
  reporting during the quarter ended June 30, 2004 that has materially affect
  or is reasonable likely to materially affect, our internal controls over financial
  reporting. </P>
<P align="center">
[The balance of this page has been intentionally left blank.] </P>
<P align="center">
6</P>

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<A name="page_7"></A>

<P align="center"> <B>PART II - OTHER INFORMATION</B> </P>
<P align="justify"> <B>Item 1. LEGAL PROCEEDINGS </B></P>
<P align="justify"> None </P>
<P align="justify"> <B>Item 2. CHANGES IN SECURITIES</B> </P>
<P align="justify"> Neither the constituent instruments defining the rights of
  the registrant's securities filers nor the rights evidenced by the registrant's
  outstanding common stock have been modified, limited or qualified.</P>
<P align="justify"> <B>Item 3. DEFAULTS UPON SENIOR SECURITIES </B></P>
<P align="justify"> The registrant has no outstanding senior securities. </P>
<P align="justify"> <B>Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
  </B></P>
<P align="justify"> None </P>
<P align="justify"> <B>Item 5. OTHER INFORMATION </B></P>
<P align="justify"> None </P>
<P align="justify"> <B>Item 6. EXHIBITS AND REPORTS ON FORM 8-K </B></P>
<P>
Exhibits </P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR valign="bottom" bgcolor="#EEEEEE">
    <TD width=10% align=center><a href="exhibit31-1.htm"> 31.1</a></TD>
    <TD align=left><a href="exhibit31-1.htm"> Certification pursuant to Section
      302 of the Sarbanes-Oxley act of 2002.</a></TD>
  </TR>
  <TR>
    <TD width="10%" align="center">&nbsp; </TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#EEEEEE">
    <TD width=10% align=center><a href="exhibit32-1.htm"> 32.1</a></TD>
    <TD align=left><a href="exhibit32-1.htm"> Certification pursuant to 18 U.S.C.
      Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act
      of 2002.</a></TD>
  </TR>
</TABLE>
<P>
Reports on Form 8-K. </P>
<P>
None </P>
<P align="center"> [The balance of this page has been intentionally left blank.]
</P>
<P align="center"> 7</P>

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<A name="page_8"></A>

<P align="center"> <B>SIGNATURES </B></P>
<P align="justify"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR valign="bottom">
    <TD width=50% align=left>&nbsp; </TD>
    <TD colspan=2 align=left><B>NEW JERSEY MINING COMPANY</B>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="50%">&nbsp; </TD>
    <TD width="5%">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width=50% align=right>&nbsp;  </TD>
    <TD width=5%>By: </TD>
    <TD align=left> <U>/s/ Fred W. Brackebusch</U>&nbsp; </TD>
  </TR>
  <TR>
    <TD width="50%">&nbsp; </TD>
    <TD width="5%">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=center width=50%>&nbsp; </TD>
    <TD align=center width=5%>&nbsp;</TD>
    <TD align=left>Fred W. Brackebusch, its </TD>
  </TR>
  <TR valign="bottom">
    <TD width=50% align=left>&nbsp; </TD>
    <TD width=5%>&nbsp; </TD>
    <TD align=left> President, Treasurer &amp; Director&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=50% align=left>&nbsp; </TD>
    <TD width=5%>&nbsp; </TD>
    <TD align=left> Date: August 9, 2004&nbsp; </TD>
  </TR>
  <TR>
    <TD width="50%">&nbsp; </TD>
    <TD width="5%">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
  </TR>
  <TR>
    <TD width="50%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width=50% align=right>&nbsp;</TD>
    <TD width=5%>By: </TD>
    <TD align=left> <U>/s/ Grant A. Brackebusch</U>&nbsp; </TD>
  </TR>
  <TR>
    <TD width="50%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=center width=50%>&nbsp;</TD>
    <TD align=center width=5%>&nbsp;</TD>
    <TD align=left>Grant A. Brackebusch, its </TD>
  </TR>
  <TR valign="bottom">
    <TD width=50% align=left>&nbsp; </TD>
    <TD width=5%>&nbsp; </TD>
    <TD align=left> Vice President &amp; Director&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=50% align=left>&nbsp; </TD>
    <TD width=5%>&nbsp; </TD>
    <TD align=left> August 9, 2004&nbsp; </TD>
  </TR>
</TABLE>
<BR>
</P>
<P align="center">
8</P>

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<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>2
<FILENAME>exhibit31-1.htm
<DESCRIPTION>SECTION 302 CERTIFICATION OF CEO AND CFO
<TEXT>
<!DOCTYPE HTML PUBLIC "exhibit31-1">


<HTML>
<HEAD>
   <TITLE>Filed by Automated Filing Services Inc. (604) 609-0244 - New Jersey mining Company - Exhibit 31.1</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><B>Exhibit 31.1</B></p>
<P align="center"> <B>Certification</B></P>
<P align="left">I, Fred W. Brackebusch, certify that:</P>
<TABLE style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
  <TR valign="bottom">
    <TD width=5% align=left valign="top">(1) </TD>
    <TD colspan="2" align=left valign="top"> <div align="justify">I have reviewed
        this quarterly report on Form 10-QSB of New Jersey Mining Company.</div></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="top">&nbsp;</TD>
    <TD align=left valign="top">&nbsp;</TD>
    <TD align=left valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width=5% align=left valign="top">(2)</TD>
    <TD colspan="2" align=left valign="top"> <div align="justify">Based on my
        knowledge, this report does not contain any untrue statement of a material
        fact or omit to state a material fact necessary to make the statements
        made, in light of the circumstances under which such statements were made,
        not misleading with respect to the period covered by this report; </div></TD>
  </TR>
  <TR>
    <TD width="5%" align="left" valign="top">&nbsp;</TD>
    <TD width="5%" align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=5% align=left valign="top">(3)</TD>
    <TD colspan="2" align=left valign="top"> <div align="justify">Based on my
        knowledge, the financial statements, and other financial information included
        in this report, fairly present in all material respects the financial
        condition, results of operations and cash flows of the small business
        issuer as of, and for, the periods presented in this report;&nbsp; </div></TD>
  </TR>
  <TR>
    <TD width="5%" align="left" valign="top">&nbsp;</TD>
    <TD width="5%" align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=5% align=left valign="top">(4)</TD>
    <TD colspan="2" align=left valign="top"> <div align="justify">I am responsible
        for establishing and maintaining disclosure controls and procedures (as
        defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the small business
        issuer and have:&nbsp; </div></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="top">&nbsp;</TD>
    <TD align=left valign="top">&nbsp;</TD>
    <TD align=left valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width=5% align=left valign="top">&nbsp;</TD>
    <TD width=5% align=left valign="top"><div align="justify">(a)</div></TD>
    <TD align=left valign="top"> <div align="justify">Designed such disclosure
        controls and procedures, or caused such disclosure controls and procedures
        to be designed under our supervision, to ensure that material information
        relating to the small business issuer, including its consolidated subsidiaries,
        is made known to us by others within those entities, particularly during
        the period in which this report is being prepared;&nbsp; </div></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="top">&nbsp;</TD>
    <TD align=left valign="top">&nbsp;</TD>
    <TD align=left valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width=5% align=left valign="top">&nbsp;</TD>
    <TD width=5% align=left valign="top"><div align="justify">(b)</div></TD>
    <TD align=left valign="top"> <div align="justify">Evaluated the effectiveness
        of the small business issuer's disclosure controls and procedures and
        presented in this report our conclusions about the effectiveness of the
        disclosure controls and procedures, as of the end of the period covered
        by this report based on such evaluation; and&nbsp; </div></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="top">&nbsp;</TD>
    <TD align=left valign="top">&nbsp;</TD>
    <TD align=left valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width=5% align=left valign="top">&nbsp;</TD>
    <TD width=5% align=left valign="top"><div align="justify">(c) </div></TD>
    <TD align=left valign="top"> <div align="justify">Disclosed in this report
        any change in the small business issuer's internal control over financial
        reporting that occurred during the small business issuer's most recent
        fiscal quarter that has materially affected, or is reasonably likely to
        materially affect, the small business issuer's internal control over financial
        reporting; and&nbsp; </div></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left valign="top">&nbsp;</TD>
    <TD align=left valign="top">&nbsp;</TD>
    <TD align=left valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD width=5% align=left valign="top">(5) </TD>
    <TD colspan="2" align=left valign="top"> <div align="justify">I have disclosed,
        based on our most recent evaluation of internal control over financial
        reporting, to the small business issuer's auditors and the audit committee
        of the small business issuer's board of directors (or persons performing
        the equivalent functions):&nbsp; </div></TD>
  </TR>
  <TR>
    <TD width="5%" align="left" valign="top">&nbsp;</TD>
    <TD width="5%" align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=5% align=left valign="top">&nbsp;</TD>
    <TD width=5% align=left valign="top"><div align="justify">(a) </div></TD>
    <TD align=left valign="top"> <div align="justify">All significant deficiencies
        and material weaknesses in the design or operation of internal control
        over financial reporting which are reasonably likely to adversely affect
        the small business issuer's ability to record, process, summarize and
        report financial information; and&nbsp; </div></TD>
  </TR>
  <TR>
    <TD width="5%" align="left" valign="top">&nbsp;</TD>
    <TD width="5%" align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=5% align=left valign="top">&nbsp;</TD>
    <TD width=5% align=left valign="top"><div align="justify">(b)</div></TD>
    <TD align=left valign="top"> <div align="justify">Any fraud, whether or not
        material, that involves management or other employees who have a significant
        role in the small business issuer's internal control over financial reporting.&nbsp;
      </div></TD>
  </TR>
</TABLE>
<BR>
Date: <U>August 9, 2004</U> <BR>
<U>By /s/ FRED W. BRACKEBUSCH</U> <BR>
Fred W. Brackebusch, President, Treasurer &amp; Director<BR>
<br>
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<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>3
<FILENAME>exhibit32-1.htm
<DESCRIPTION>SECTION 906 CERTIFICATION OF CEO AND CFO
<TEXT>
<!DOCTYPE HTML PUBLIC "exhibit32-1">


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<HEAD>
   <TITLE>Filed by Automated Filing Services Inc. (604) 609-0244 - New Jersey mining Company - Exhibit 32.1</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><B>Exhibit 32.1</B></p>
<P align="center"> <B>CERTIFICATION PURSUANT TO </B><br>
  <B>18 U.S.C. SECTION 1350, <br>
  AS ADOPTED PURSUANT TO </B><br>
  <B>SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</B></P>
<P align="justify"> In connection with the Quarterly Report of New Jersey Mining
  Company, (the "Company") on Form 10-QSB for the period ending June 30, 2004,
  as filed with the Securities and Exchange Commission on the date hereof (the
  "Report"), I, Fred W. Brackebusch, President, Treasurer and Director of New
  Jersey Mining Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted
  pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that: </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 nowrap> (1)&nbsp; &nbsp; &nbsp; </TD>
    <TD> The Report fully complies with the requirements of Section 13(a) or 15(d)
      of the Securities Exchange Act of 1934; and </TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" valign=top nowrap> (2)&nbsp; &nbsp; &nbsp; </TD>
    <TD> The information contained in the Report fairly presents, in all material
      respects, the financial condition and results of operations of the Company.
    </TD>
  </TR>
</TABLE>
<br>
Date: <U>August 9, 2004</U><BR>
<P> <U>By /s/ FRED W. BRACKEBUSCH</U> <br>
  Fred W. Brackebusch, President, Treasurer &amp; Director</P>
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