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<SEC-DOCUMENT>0001062993-08-003294.txt : 20080723
<SEC-HEADER>0001062993-08-003294.hdr.sgml : 20080723
<ACCEPTANCE-DATETIME>20080723154941
ACCESSION NUMBER:		0001062993-08-003294
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080827
FILED AS OF DATE:		20080723
DATE AS OF CHANGE:		20080723
EFFECTIVENESS DATE:		20080723

FILER:

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

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28837
		FILM NUMBER:		08965839

	BUSINESS ADDRESS:	
		STREET 1:		89 APPLEBERG RD
		STREET 2:		PO BOX 1019
		CITY:			KELLOGG
		STATE:			ID
		ZIP:			83837
		BUSINESS PHONE:		208-783-3331

	MAIL ADDRESS:	
		STREET 1:		89 APPLEBERG ROAD
		STREET 2:		PO BOX 1019
		CITY:			KELLOGG
		STATE:			ID
		ZIP:			83837
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>scheddef14a.htm
<TEXT>
<!DOCTYPE HTML PUBLIC "scheddef14a.pdf">


<HTML>
<HEAD>
   <TITLE>Filed by sedaredgar.com - New Jersey Mining Company - Schedule DEF 14A</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

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

<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<P align=center><B><FONT size=5>UNITED STATES </FONT><BR></B><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT><BR></B>Washington, D.C. 20549
</P>
<P align=center><B><FONT size=5>SCHEDULE 14A INFORMATION </FONT><BR></B>Proxy
Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 </P>
<P align=center>Filed by the Registrant [X] <BR>Filed by a Party other than the
Registrant [&nbsp; &nbsp;] <BR>Check the appropriate box: <BR>[&nbsp; &nbsp;]
Preliminary Proxy Statement <BR>[&nbsp;&nbsp; ] Confidential, for Use of the
Commission Only (as permitted by Rule 14a-6(e)(2)) <BR>[X] Definitive Proxy
Statement <BR>[&nbsp; &nbsp;] Definitive Additional Materials <BR>[&nbsp;
&nbsp;] Soliciting Material Pursuant to Sec. 240.14a -12 </P>
<P align=center><B><U><FONT size=5>NEW JERSEY MINING COMPANY</FONT></U></B><B>
<BR></B>(Name of Registrant as Specified In Its Charter) </P>
<P align=center><B><U>N/A</U></B><B> <BR></B>(Name of Person(s) Filing Proxy
Statement if other than the Registrant) </P>
<P align=justify>Payment of Filing Fee (Check the appropriate box): </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>[X] </TD>
    <TD align=left width="95%" >No fee required. </TD></TR>
  <TR vAlign=top>
    <TD align=left>[&nbsp; &nbsp;] </TD>
    <TD align=left width="95%" >Fee computed on table below per
      Exchange Act Rules 14a-6(i)(1) and 0-11. </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">1) </TD>
    <TD>
      <P align=justify>Title of each class of securities to which transaction
      applies: None</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">2) </TD>
    <TD>
      <P align=justify>Aggregate number of securities to which transaction
      applies: None</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">3) </TD>
    <TD>
      <P align=justify>Per unit price or other underlying value of transaction
      computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which
      the filing fee is calculated and state how it was determined):
  n/a</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">4) </TD>
    <TD>
      <P align=justify>Proposed maximum aggregate value of transaction:
    n/a</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">5) </TD>
    <TD>
      <P align=justify>Total fee paid: $-0-</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>[&nbsp;&nbsp; ] </TD>
    <TD align=left width="95%" >Fee paid previously with
      preliminary materials. </TD></TR>
  <TR vAlign=top>
    <TD align=left>
      <P align=justify>[&nbsp; &nbsp;] </P></TD>
    <TD align=left width="95%" >
      <P align=justify>Check box if any part of the fee is offset as provided by
      Exchange Act Rule 0-11(a)(2) and identify the filing for which the
      offsetting fee was paid previously. Identify the previous filing by
      registration statement number, or the Form of Schedule and the date of its
      filing. </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">1) </TD>
    <TD>
      <P align=justify>Amount Previously Paid: n/a</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">2) </TD>
    <TD>
      <P align=justify>Form, Schedule or Registration Statement No.:
  n/a</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">3) </TD>
    <TD>
      <P align=justify>Filing Party: n/a</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">4) </TD>
    <TD>
      <P align=justify>Date Filed: n/a</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_2></A>
<P align=center><B><FONT size=4>New Jersey Mining Company </FONT></B></P>
<P align=center><B><FONT size=4>Notice of 2008 Annual Meeting of Shareholders
<BR>To be Held on August 27, 2008</FONT></B><B> </B></P>
<P align=justify><B>NOTICE IS HEREBY GIVEN </B>that the 2008 Annual Meeting of
Shareholders of New Jersey Mining Company (the "Company"), will be held at 10:00
a.m. Pacific Standard time, on August 27, 2008, at the Best Western Wallace Inn,
100 Front Street, Wallace, Idaho 83873 to consider and act upon the following
matters: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">1. </TD>
    <TD>
      <P align=justify>To elect five (5) members to the Board of Directors to
      serve for a one year term or until their respective successors are elected
      and qualified;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">2. </TD>
    <TD>
      <P align=justify>To ratify the appointment of DeCoria, Maichel &amp;
      Teague P.S. as the independent registered public accounting firm for the
      Company for the year ending December 31, 2008; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">3. </TD>
    <TD>
      <P align=justify>To transact such other business as may properly come
      before the meeting or any adjournment thereof.</P></TD></TR></TABLE>
<P align=justify>The close of business on June 30, 2008 has been fixed as the
record date for the determination of the Shareholders entitled to notice of, and
to vote at, the Annual Meeting and at any postponements or adjournments thereof.
Only Shareholders of record on the books of the Company at the close of business
on June 30, 2008 shall be entitled to notice of, and to vote at, the meeting or
any adjournment thereof. </P>
<P align=justify>It is important that your shares be represented at the meeting
whether or not you are personally able to attend. You are therefore urged to
complete, date and sign the accompanying proxy card and mail it in the enclosed
postage-paid envelope as promptly as possible. Your Proxy is revocable, either
in writing or by voting in person at the Annual Meeting, at any time prior to
its exercise. </P>
<P align=justify>Thank you for your cooperation. </P>
<P style="MARGIN-LEFT: 50%" align=justify>Sincerely, </P>
<P style="MARGIN-LEFT: 50%" align=justify><u><i>/s/ Fred W. Brackebusch</i></u><br>
  Fred W. Brackebusch <BR>
  Chairman of
the Board, President <BR>and Chief Executive Officer </P>
<P align=justify>Wallace, Idaho <BR>August 1, 2008 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_3></A>
<P align=center><B>TABLE OF CONTENTS </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=right width="5%" >Page </TD>
  </TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD align=right width="5%" >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A href="#page_4">INTRODUCTION </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_4">2 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left><A href="#page_4">PURPOSES OF ANNUAL MEETING </A></TD>
    <TD align=right width="5%" ><A href="#page_4">2 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_4">Election of
      Directors </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_4">2 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_4">Ratification of Appointment
      of Independent Registered Public Accounting Firm </A></TD>
    <TD align=right width="5%" ><A href="#page_4">2 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_4">Other
      Business </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_4">2 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left><A href="#page_5">VOTING AT ANNUAL MEETING </A></TD>
    <TD align=right width="5%" ><A href="#page_5">3 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A href="#page_8">PROPOSAL 1. ELECTION OF
      DIRECTORS </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_8">6 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_8">Board Recommendation </A></TD>
    <TD align=right width="5%" ><A href="#page_8">6 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A href="#page_9">BOARD OF DIRECTORS OF THE
      COMPANY </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_9">7 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left><A href="#page_10">PROPOSAL 2. RATIFICATION OF APPOINTMENT
      OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM </A></TD>
    <TD align=right width="5%" ><A href="#page_10">8 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_10">Board
      Recommendation </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_10">8 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left><A href="#page_10">AUDIT COMMITTEE REPORT </A></TD>
    <TD align=right width="5%" ><A href="#page_10">8 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A href="#page_11">INDEPENDENT REGISTERED
      PUBLIC ACCOUNTING FIRM'S FEES </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_11">9 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_11">Audit Fees </A></TD>
    <TD align=right width="5%" ><A href="#page_11">9 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_11">Audit
      Related Fees </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_11">9 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_11">Tax Fees </A></TD>
    <TD align=right width="5%" ><A href="#page_11">9 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_11">All Other
      Fees </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_11">9 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left><A href="#page_11">PRE-APPROVAL OF AUDIT AND NON-AUDIT
      SERVICES OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM </A></TD>
    <TD align=right width="5%" ><A href="#page_11">9 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A href="#page_12">INFORMATION CONCERNING
      THE BOARD OF DIRECTORS </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_12">10 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_12">Board Meetings </A></TD>
    <TD align=right width="5%" ><A href="#page_12">10 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_12">Affirmative
      Determinations Regarding Director Independence </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_12">10 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_12">Audit Committee </A></TD>
    <TD align=right width="5%" ><A href="#page_12">10 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_12">Nominating
      Committee </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_12">10 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_13">Compensation Committee
    </A></TD>
    <TD align=right width="5%" ><A href="#page_13">11 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A
      href="#page_13">Communication with the Board of Directors </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_13">11 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left><A href="#page_14">COMPENSATION OF DIRECTORS </A></TD>
    <TD align=right width="5%" ><A href="#page_14">12 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_14">Director
      Compensation </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_14">12 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left><A href="#page_14">EXECUTIVE OFFICERS </A></TD>
    <TD align=right width="5%" ><A href="#page_14">12 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_15">Family
      Relationships </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_15">13 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_15">Legal Proceedings </A></TD>
    <TD align=right width="5%" ><A href="#page_15">13 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A href="#page_16">EXECUTIVE COMPENSATION
      </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_16">14 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_16">Compensation of Officers
      </A></TD>
    <TD align=right width="5%" ><A href="#page_16">14 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_16">Outstanding
      Equity Awards at Fiscal Year-end </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_16">14 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left><A href="#page_17">SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
      OWNERS AND MANAGEMENT </A></TD>
    <TD align=right width="5%" ><A href="#page_17">15 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_17">Security
      Ownership of Certain Beneficial Owners </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_17">15 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_18">Security Ownership of
      Management </A></TD>
    <TD align=right width="5%" ><A href="#page_18">16 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A href="#page_19">RECENT MARKET PRICES
    </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_19">17 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left><A href="#page_19">SECTION 16(a) BENEFICIAL OWNERSHIP
      REPORTING COMPLIANCE </A></TD>
    <TD align=right width="5%" ><A href="#page_19">17 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A href="#page_19">ADDITIONAL SHAREHOLDER
      INFORMATION </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_19">17 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_19">Shareholders </A></TD>
    <TD align=right width="5%" ><A href="#page_19">17 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_20">Shareholder
      Proposals for 2009 Annual Meeting </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_20">18 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp;<A href="#page_20">Annual Report </A></TD>
    <TD align=right width="5%" ><A href="#page_20">18 </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>&nbsp; &nbsp;<A href="#page_20">Other
      Business </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee ><A
      href="#page_20">18 </A></TD></TR></TABLE>
<P align=right>i </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_4></A>
<P align=center><B><font size="3">New Jersey Mining Company <BR>
  P.O. Box 1019 <BR>
  Kellogg, Idaho 83837 <BR>
  </font></B><font size="3">_________________________ </font></P>
<P align=center><font size="3"><B>PROXY STATEMENT</B> <BR>
  Relating to <BR>
  Annual Meeting of Shareholders <BR>
  to be held on August 27, 2008 <BR>
  _________________________<BR>
  <B><BR>
  INTRODUCTION </B></font></P>
<P align=justify>This Proxy Statement is being furnished by the Board of
Directors of New Jersey Mining Company (the "Company") to holders of shares of
the Company's no par value common stock (the "Common Stock") in connection with
the solicitation by the Board of Directors of Proxies to be voted at the Annual
Meeting of Shareholders of the Company and any adjournment or adjournments
thereof (the "Annual Meeting") to be held at 10:00 a.m. on August 27, 2008 at
the Best Western Wallace Inn, 100 Front Street, Wallace, Idaho 83873 for the
purposes set forth in the accompanying Notice of Annual Meeting. This Proxy
Statement is first being mailed to Shareholders on or about August 1, 2008 and
is accompanied by a proxy card for use at the Annual Meeting.</P>
<P align=justify>Members of the Company's management are the record and
beneficial owners of an aggregate of 10,384,727 shares (approximately 28.2 %) of
the Company=s outstanding Common Stock. It is management's intention to vote all
of their shares in favor of each matter to be considered by the Shareholders.
</P>
<P align=center><B>PURPOSES OF ANNUAL MEETING </B></P>
<P align=justify><B>Election of Directors </B></P>
<P align=justify>At the Annual Meeting, Shareholders will be asked to consider
and to take action on the election of five (5) members to the Board of Directors
to serve for one-year terms or until their respective successors are elected and
qualified. (See "Election of Directors"). </P>
<P align=justify><B>Ratification of Appointment of Independent Registered Public
Accounting Firm </B></P>
<P align=justify>At the Annual Meeting, Shareholders will be asked to ratify the
appointment of DeCoria, Maichel &amp; Teague P.S. as the independent registered
public accounting firm for the Company for the year ending December 31, 2008.
(See "Ratification of Appointment of Independent Registered Public Accounting
Firm"). </P>
<P align=justify><B>Other Business </B></P>
<P align=justify>To transact such other business as may properly come before the
Annual Meeting or any postponements or adjournments thereof. </P>
<P align=right>2 </P>
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<A name=page_5></A>
<P align=justify><B><I>Because your vote is important, it is requested that you
complete and sign the enclosed proxy card and mail it promptly in the return
envelope provided. Shares cannot be voted at the meeting unless the owner is
present to vote or is represented by Proxy.</I></B><B> </B></P>
<P align=center><B>VOTING</B><B> </B><B>AT</B><B> </B><B>ANNUAL</B><B>
</B><B>MEETING </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1.</B> </TD>
    <TD>
      <P align=justify><B>Record Date</B>; <B>Shares Entitled to Vote. </B>The
      Board of Directors of the Company has fixed the close of business on June
      30, 2008, as the record date (the "Record Date") for the purpose of
      determining Shareholders of the Company entitled to notice of and to vote
      at the Annual Meeting. At the close of business on that date, there were
      36,800,892 issued and outstanding shares of Common Stock. Each holder of
      Common Stock is entitled to one vote for each share of Common Stock owned
      as of the Record Date.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>2.</B> </TD>
    <TD>
      <P align=justify><B>Quorum</B>. A majority of the shares issued and
      outstanding as of the record date will constitute a quorum for the
      transaction of business at the Annual Meeting. Proxies that are submitted
      but are not voted for or against (because of abstention, broker non-votes
      or otherwise) will count toward a quorum and will be treated as present
      for all matters considered at the meeting.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>3.</B> </TD>
    <TD>
      <P align=justify><B>Vote Required. </B>Directors are elected by a
      plurality of the votes cast by the holders of the Common Stock at a
      meeting of shareholders at which a quorum is present. "Plurality" means
      that the individuals who receive the largest number of votes cast are
      elected as Directors up to the maximum number of Directors to be chosen at
      the meeting. Consequently, any shares not voted (whether by abstentions,
      broker non-votes or otherwise) have no impact on the election of
      Directors, except to the extent the failure to vote for an individual
      results in another individual receiving a larger number of votes. The
      election of Directors will be accomplished by determining the five
      nominees receiving the highest total number of votes.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>If a quorum exists at the Annual Meeting, the affirmative
      vote by the holders of a majority of the Common Stock present in person or
      represented by proxy and entitled to vote is required to approve the
      ratification of the appointment of DeCoria, Maichel &amp; Teague P.S. as
      the independent registered public accounting firm for the Company for the
      year ending December 31, 2008.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>4.</B> </TD>
    <TD>
      <P align=justify><B>Solicitation of Proxies. </B>The Board of Directors
      requests that you complete, date and sign the proxy card accompanying this
      Proxy Statement and promptly return the card in the enclosed postage-paid
      envelope. The accompanying proxy card is solicited on behalf of the
      Company, and the cost of solicitation will be borne by the Company.
      Although they do not presently intend to do so, following the original
      mailing of the Proxy materials, directors, officers and employees of the
      Company may, without additional remuneration, solicit Proxies by mail,
      internet, telephone, facsimile, or personal interviews. The Company may
      request brokers, custodians, nominees, and other record holders to forward
      copies of the Proxies and soliciting materials to persons for whom they
      hold shares of the Company and to request authority for the exercise of
      Proxies. In such cases, the Company will reimburse such holders for their
      reasonable expenses.</P></TD></TR></TABLE>
<P align=right>3 </P>
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<TABLE
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  <TR>
    <TD vAlign=top width="5%"><B>5.</B> </TD>
    <TD colSpan=2>
      <P align=justify><B>Revocation of Proxy. </B>You may revoke your proxy at
      any time by taking any of the following actions before your proxy is voted
      at the Annual Meeting:</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%"> <P>&#8226;</P></TD>
    <TD>
      <P align=justify>Deliver to the Company a written notice bearing a date
      later than the date of the proxy card, stating that you revoke the
      proxy;</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%"> <P>&#8226;</P></TD>
    <TD>
      <P align=justify>Sign and deliver to the Company a proxy card relating to
      the same shares and bearing a later date; or</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%"> <P>&#8226;</P></TD>
    <TD>
      <P align=justify>Attend the meeting and vote in person, although
      attendance at the meeting will not, by itself, revoke a proxy.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TR>
    <TD width="5%"></TD>
    <TD colSpan=2>
      <P align=justify>Also, please note that if you have voted through your
      broker, bank or other nominee and you wish to change your vote, you must
      follow the instructions received from such entity to change your
    vote.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>6.</B> </TD>
    <TD colSpan=2>
      <P align=justify><B>How Proxies will be Voted. </B>Proxies received by the
      Board of Directors in the accompanying form will be voted at the Annual
      Meeting as specified therein by the person giving the Proxy. If no
      specification is made with respect to the matters to be voted upon at the
      meeting, the shares represented by such Proxy will be voted : FOR the
      nominees to the Board of Directors in the election of Directors and FOR
      the ratification of the appointment of the Company's independent
      registered public accounting firm.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD colSpan=2>
      <P align=justify>All shares represented by valid Proxy will be voted at
      the discretion of the proxy holders on any other matters that may properly
      come before the meeting. However, the Board of Directors does not know of
      any matters to be considered at the meeting other than those specified in
      the Notice of Meeting. If the Annual Meeting is postponed or adjourned,
      your Proxy will still be effective and may be voted at the rescheduled
      meeting. You will still be able to change or revoke your Proxy until it is
      voted.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD colSpan=2>
      <P align=justify>If you own your shares in "street name," that is, through
      a brokerage account or in another nominee form, you must provide
      instructions to the broker or nominee as to how your shares should be
      voted. Otherwise, your shares may not be voted and will be recorded as
      broker non-votes. Your broker or nominee will usually provide you with the
      appropriate instruction forms at the time you receive this proxy
      statement. If you own your shares in this manner, you cannot vote in
      person at the Annual Meeting unless you receive a Proxy to do so from the
      broker or the nominee and you bring the Proxy to the Annual
  Meeting.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>7.</B> </TD>
    <TD colSpan=2>
      <P align=justify><B>Voting Power. </B>Shareholders of the Common Stock of
      the Company are entitled to one vote for each share held. There is no
      cumulative voting for directors.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>8.</B> </TD>
    <TD colSpan=2>
      <P align=justify><B>Recommendation of the Board of Directors. </B>The
      Board of Directors of the Company believes the proposals described herein
      are in the best interests of the Company and its Shareholders and,
      accordingly, recommends that the Shareholders vote "FOR" the proposals
      identified in the Notice.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>9.</B> </TD>
    <TD colSpan=2>
      <P align=justify><B>Required Approvals. </B>By unanimous consent, the
      Board of Directors of the Company unanimously adopted resolutions to: (1)
      elect Fred W. Brackebusch, Grant A. Brackebusch, Ivan R. Linscott, William
      C. Rust, and M. Kathleen Sims to the Board of Directors of the Company to
      serve for a one-</P></TD></TR></TABLE>
<P align=right>4 </P>
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  <TR>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>year term or until his or her respective successor is
      elected and qualified; and (2) to appoint DeCoria, Maichal &amp; Teague
      P.S. as the independent registered public accounting firm for the Company
      for the year ending December 31, 2008.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>10.</B> </TD>
    <TD>
      <P align=justify><B>Dissenters' Rights. </B>There are no dissenters'
      rights applicable to any matters to be considered at the Annual
      Meeting.</P></TD></TR></TABLE>
<P align=center>[The balance of this page intentionally left blank] </P>
<P align=center>&nbsp;</P>
<P align=center>&nbsp;</P>
<P align=center>&nbsp;</P>
<P align=center>&nbsp;</P>
<P align=right>5 </P>
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<P align=center><B>PROPOSAL 1. ELECTION OF DIRECTORS </B></P>
<P align=justify>At the meeting, five (5) Directors are to be elected who shall
hold office until the next Annual Meeting of Shareholders and until their
respective successors shall have been elected and qualified.</P>
<P align=justify>The Proxies appointed in the accompanying proxy card intend to
vote, unless directed to the contrary therein, in their discretion, for the
election to the Board of Directors of the five persons named below, all of whom
have consented to serve the Company in such capacity if elected. However, if any
nominee at the time of election is unable or unwilling to serve, or is otherwise
unavailable for election, the Board of Directors shall designate a substitute
nominee. Unless instructions to the contrary are specified on the proxy card,
proxies will be voted in favor of the persons who have been nominated by the
Board of Directors.</P>
<P align=justify>The nominees for Directors, together with certain information
with respect to each of them, are as follows: </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=left><BR><B>Name &amp; Address</B> </TD>
    <TD align=left width="15%" ><BR><B>Age</B> </TD>
    <TD align=left width="32%"><BR><B>Position</B> </TD>
    <TD align=center width="20%" ><B>Date First Elected</B>
      <BR><B>As Director</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>Fred W. Brackebusch <BR>P.O. Box 1019 <BR>Kellogg, Idaho
      83837 <BR></TD>
    <TD align=left width="15%" >63 <BR><BR><BR></TD>
    <TD align=left width="32%">Chairman of the Board, <BR>President, Chief
      <BR>Executive Officer &amp; <BR>Treasurer </TD>
    <TD align=left width="20%" >7/18/1996 <BR><BR><BR></TD></TR>
  <TR vAlign=top>
    <TD align=left>Grant A. Brackebusch <BR>P.O. Box 131 <BR>Silverton, ID
      83867 </TD>
    <TD align=left width="15%" >38 <BR><BR></TD>
    <TD align=left width="32%">Vice President &amp; <BR>Director <BR></TD>
    <TD align=left width="20%" >7/18/1996 <BR><BR></TD></TR>
  <TR vAlign=top>
    <TD align=left>Ivan R. Linscott <BR>7150 Burke Road <BR>Wallace, ID 83873
    </TD>
    <TD align=left width="15%" >65 <BR><BR></TD>
    <TD align=left width="32%">Director <BR><BR></TD>
    <TD align=left width="20%" >9/21/2004 <BR><BR></TD></TR>
  <TR vAlign=top>
    <TD align=left>William C. Rust (1) <BR>P.O. Box 648 <BR>Wallace, ID 83873
    </TD>
    <TD align=left width="15%" >61 <BR><BR></TD>
    <TD align=left width="32%">Director <BR><BR></TD>
    <TD align=left width="20%" >9/21/2004 <BR><BR></TD></TR>
  <TR vAlign=top>
    <TD align=left>M. Kathleen Sims (1) <BR>2745 Seltice Way <BR>Coeur
      d'Alene, ID 83814 </TD>
    <TD align=left width="15%" >63 <BR><BR></TD>
    <TD align=left width="32%">Director <BR><BR></TD>
    <TD align=left width="20%" >9/25/2003
<BR><BR></TD></TR></TABLE></DIV>
<P align=justify>(1) Member of the Audit Committee </P>
<P align=justify><B>Board Recommendation </B></P>
<P align=justify>The Board of Directors recommends a vote FOR each nominee to
the Board of Directors. </P>
<P align=right>6 </P>
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<P align=center><B>BOARD OF DIRECTORS OF THE COMPANY </B></P>
<P align=justify>Directors are elected by shareholders at each annual
shareholders meeting to hold office until the next annual meeting of
shareholders or until their respective successors are elected and qualified. The
following individuals are currently serving as members of the Board of Directors
of the Company: </P>
<P align=justify><B>Fred W. Brackebusch, P.E.</B> has served as the Chairman of
the Board, President, Chief Executive Officer and Treasurer of the Company since
1996. He has a B.S. and an M.S. in Geological Engineering both from the
University of Idaho. He is a consulting engineer with extensive experience in
mine development, mine backfill, mine management, permitting, process control
and mine feasibility studies. He has over 35 years of experience in the Coeur
d'Alene Mining District, about half of which was with Hecla Mining Co. He has
been the principal owner of Mine Systems Design, Inc., a mining consulting
business which is a large shareholder in the Company, since 1987. </P>
<P align=justify><B>Grant A. Brackebusch, P.E.</B> has served as the Vice
President and a Director of the Company since 1996. He holds a B.S. in Mining
Engineering from the University of Idaho. He worked for Newmont Gold Co. on the
Carlin Trend in open pit mine planning and pit supervision for three years. He
also has worked with Mine Systems Design, Inc. performing various engineering
and geotechnical tasks. He has worked for New Jersey Mining Company since 1996;
he supervises the daily operations of the various mining operations, mill
operations, performs various engineering tasks, and coordinates environmental
permitting. </P>
<P align=justify><B>Ivan R. Linscott, PhD </B>has served as a Director of the
Company since 2004. He<B> </B>is a physicist at Stanford University. He is a
Senior Research Associate for radioscience spacecraft instrument development and
is Co-Investigator and Science Team Member for the New Horizons Mission to
encounter the planet Pluto. Dr. Linscott has a strong interest in doing research
on exploration techniques in the Coeur d'Alene Mining District. He has made
significant contributions to the Company's exploration program through the
innovative use of geophysical techniques. </P>
<P align=justify><B>William C. Rust</B> has served as a Director of the Company
since 2004. He is a metallurgical engineer with extensive experience in the
Silver Valley. He worked for Asarco as Chief Metallurgist. Later he worked for
CoCa mines at Grouse Creek in Central Idaho and for McCulley, Frick, and Gilman,
an environmental consulting firm. He was with Getchell Gold Inc. in Nevada where
he was Mill Manager and Senior Metallurgist for a 3,200 ton/day gold plant.
Currently, Mr. Rust is self-employed as a metallurgical engineering consultant.
Mr. Rust is a member of the Audit Committee. </P>
<P align=justify><B>M. Kathleen Sims</B> has served as a Director of the Company
since 2003. She is a successful businesswoman who is majority owner of a car
dealership. She is a former State Senator in the Idaho Legislature. She is a
former member of the State of Idaho Human Rights Commission and is active in the
Idaho Republican Party. She has extensive experience in starting a business with
all the necessary experience in financing, business plans and management. Ms.
Sims is the chairperson of the Audit Committee. </P>
<P align=right>7 </P>
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<P align=center><B>PROPOSAL 2. RATIFICATION OF APPOINTMENT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM </B></P>
<P align=justify>The Audit Committee has appointed the firm DeCoria, Maichel
&amp; Teague P.S. as independent certified public accountants for the Company
for the fiscal year ending December 31, 2008. At the Annual Meeting,
Shareholders will be asked to ratify the appointment of DeCoria, Maichel &amp;
Teague P.S. as the independent registered public accounting firm. DeCoria,
Maichel &amp; Teague P.S. has served as the Company's independent auditors and
has conducted the audit of the Company's financial statements since 2004. No
representative of DeCoria, Maichel &amp; Teague P.S. is expected to be present
at the Annual Meeting. If the appointment of DeCoria, Maichel &amp; Teague P.S.
is not ratified by the required number of votes, the Board will review its
future selection of independent registered public accounting firms. </P>
<P align=justify><B>Board Recommendation </B></P>
<P align=justify>The Board of Directors recommends a vote FOR the ratification
of the appointment of DeCoria, Maichel &amp; Teague P.S. as the independent
registered public accounting firm for the Company for the year ending December
31, 2008. </P>
<P align=center><B>AUDIT COMMITTEE REPORT </B></P>
<P align=justify>During fiscal year 2007, Directors Rust and Sims served on the
Audit Committee, with Director Sims serving as the chairperson. The Audit
Committee is responsible for overseeing the Company's accounting and financial
reporting processes, including the quarterly review and the annual audit of the
Company's financial statements by DeCoria, Maichel &amp; Teague P.S., the
Company's independent registered public accounting firm. The Sarbanes-Oxley Act
of 2002 requires the Audit Committee to be directly responsible for the
appointment, compensation and oversight of the audit work of the independent
registered public accounting firm.</P>
<P align=justify>As part of fulfilling its responsibilities, the Audit Committee
has reviewed and discussed the Company's audited financial statements with
management. The Audit Committee has also discussed with the independent
registered public accounting firm the matters required to be discussed by
Statement on Auditing Standards No. 61 (Communication with Audit Committees).
Finally, the Audit Committee has received the written disclosures and the letter
from the independent registered public accounting firm required by Independence
Standards Board Standard No. 1 (Independence Discussions with Audit Committees)
and has discussed with the independent registered public accounting firm that
firm's independence. </P>
<P align=justify>Based on its review and discussions, the Audit Committee
recommended to the Board of Directors that the audited financial statements for
2007 be included in the Company's 2007 Annual Report on Form 10-KSB filed with
the SEC. </P>
<P align=center><I>Submitted by the Audit Committee of the Board of Directors of
the Company. </I></P>
<P align=center>William C. Rust <BR>M. Kathleen Sims </P>
<P align=right>8 </P>
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<A name=page_11></A>
<P align=center><B>INDEPENDENT</B><B> </B><B>REGISTERED</B><B>
</B><B>PUBLIC</B><B> </B><B>ACCOUNTING</B><B> </B><B>FIRM'S</B><B> </B><B>FEES
</B></P>
<P align=justify><B>Audit Fees </B></P>
<P align=justify>The aggregate fees billed for professional services rendered by
the Company's independent registered public accounting firm for the audit of the
annual financial statements included in the Company's annual report on Form
10-KSB for the fiscal years ended December 31, 2007 and 2006 and the review for
the financial statements included in the Company's quarterly reports on Form
10-QSB during those fiscal years, were $28,384 and $32,639 respectively. </P>
<P align=justify><B>Audit Related Fees </B></P>
<P align=justify>The Company incurred no fees during the last two fiscal years
for assurance and related services by the Company's independent registered
public accounting firm that were reasonably related to the performance of the
audit or review of the Company's financial statements, and not reported under
"Audit Fees" above. </P>
<P align=justify><B>Tax Fees</B></P>
<P align=justify>The Company incurred no<B> </B>fees during the last two fiscal
years for professional services rendered by the Company's independent registered
public accounting firm for tax compliance, tax advice and tax planning. </P>
<P align=justify><B>All Other Fees </B></P>
<P align=justify>The Company incurred no other fees during the last two fiscal
years for products and services rendered by the Company's independent registered
public accounting firm. </P>
<P align=center><B>PRE-APPROVAL</B><B> </B><B>OF</B><B> </B><B>AUDIT</B><B>
</B><B>AND</B><B> </B><B>NON-AUDIT</B><B> </B><B>SERVICES</B><B>
</B><B>OF</B><B> </B><B>INDEPENDENT</B><B> </B><B>REGISTERED</B><B>
</B><B>PUBLIC</B><B> </B><B>ACCOUNTING</B><B> </B><B>FIRM </B></P>
<P align=justify>The Audit Committee is responsible for appointing, setting
compensation and overseeing the work of the independent registered public
accountants. The Audit Committee has established a policy regarding pre-approval
of all audit and non-audit services provided by the independent registered
public accountants. On an ongoing basis, management communicates specific
projects and categories of services for which advance approval of the Audit
Committee is requested. The Audit Committee reviews these requests and advises
management if the Audit Committee approves the engagement of the independent
registered public accountants for specific projects. On a periodic basis,
management reports to the Audit Committee regarding the actual spending for such
projects and services compared to the approved amounts. The Audit Committee may
also delegate the ability to pre-approve audit and permitted non-audit services
to a subcommittee consisting of one or more Audit Committee members, provided
that any such pre-approvals are reported on at a subsequent Audit Committee
meeting. One hundred percent of all services provided by the Company's
independent registered public accounting firm in each of the last two fiscal
years were pre-approved by the Audit Committee.</P>
<P align=right>9 </P>
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<P align=center><B>INFORMATION CONCERNING THE BOARD OF DIRECTORS </B></P>
<P align=justify><B>Board Meetings </B></P>
<P align=justify>During the fiscal year ended December 31, 2007 there were three
meetings of the Board of Directors. All Directors were present at each meeting.
It is the Company's policy that members of the Board of Directors should attend
all annual meetings of Shareholders except for absences due to causes beyond the
reasonable control of the Directors. The Company did not hold an annual meeting
of shareholders during 2007. </P>
<P align=justify><B>Affirmative Determinations Regarding Director
Independence</B></P>
<P align=justify>The Board of Directors has determined that each of the
following Directors is an "independent director" as such term is defined by the
rules of the Financial Industry Regulatory Authority ("FINRA"). FINRA and the
Securities Exchange Commission (the "SEC"): </P>
<P align=justify>Ivan R. Linscott, PhD William C. Rust M. Kathleen Sims </P>
<P align=justify>The rules of FINRA and the SEC generally provide that an
"independent director" is a person other than an officer or employee of the
Company or any other individual having a relationship that, in the opinion of
the Board of Directors, would interfere with the exercise of independent
judgment in carrying out the responsibilities of a Director. The FINRA rules
also provide specific criteria that, if met, disqualify a director from being
independent.</P>
<P align=justify><B>Audit Committee </B></P>
<P align=justify>The Company has an audit committee established in accordance
with the Securities Exchange Act of 1934, as amended, (the "Exchange Act") for
the purpose of overseeing the Company's accounting and financial reporting
processes, the audits of the financial statements, as well as compliance with
legal and regulatory requirements. The Audit Committee is also responsible for
appointing and reviewing the performance of the Company's independent registered
public accounting firm. The members of the Company's audit committee are William
C. Rust and M. Kathleen Sims. Each member of the audit committee is deemed to be
an independent director as that term is defined under the listing standards of
FINRA. Ms. Sims is considered to be an audit committee financial expert as the
term is defined under applicable SEC rules, and is the Chairperson of the Audit
Committee. The Audit Committee held two meetings during 2007. The Company does
not have a written Audit Committee Charter. </P>
<P align=justify><B>Nominating Committee </B></P>
<P align=justify>The entire Board of Directors serves as the Nominating
Committee and all Directors participate in the consideration and selection of
nominees to the Board of Directors. The Nominating Committee identifies
potential nominees from various sources, including recommendations from
Directors and officers of the Company. The Nominating Committee will consider
nominees recommended by shareholders upon submission in writing to the Chairman
of the Board of Directors the names of such nominees, together with their
qualifications for service as Directors of the Company. Individuals recommended
by shareholders are evaluated in the same manner as other potential nominees.
The Nominating Committee reviews and discusses recommendations received for
Director candidates and evaluates the qualifications of such candidates before
</P>
<P align=right>10 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_13></A>
<P align=justify>selecting a slate of nominees to be recommended by the Board.
Qualifications that the Nominating Committee will consider in evaluating
Director candidates include their mining, scientific, or business experience,
contacts within the Company's market area, relevant skills, and time
availability. A candidate's level of share ownership in the Company is also
considered as part of the evaluation along with such other criteria as the
Nominating Committee determines to be relevant. The Nominating Committee did not
hold any meetings in 2007. The Company does not have a written charter for the
Nominating Committee. </P>
<P align=justify><B>Compensation Committee </B></P>
<P align=justify>The entire Board of Directors serves as the Compensation
Committee and all Directors review personnel policies of the Company that
include, but are not limited to, compensation for executive officers of the
Company, as well as employee compensation and benefit programs. The Board of
Directors has determined that a Compensation Committee is not currently
necessary because the Company is a small business. The Company does not have a
written charter for the Compensation Committee.</P>
<P align=justify>The compensation for the President and Vice President, as the
executive officers of the Company, is generally set on an annual basis by the
disinterested members of the Board. In determining the appropriate compensation
levels for the executive officers, the Board of Directors considers a number of
factors, including, but not limited to the executive officers' mining experience
and experience with the Company, and the level of compensation paid by the
Company's peers in the mining industry. Compensation for the Board of Directors
has been approved by the entire Board of Directors. The President and Vice
President have been authorized by the Board of Directors to set the salaries and
wages of the non-executive employees of the Company, subject to the review of
the Board of Directors. </P>
<P align=justify><B>Communication with the Board of Directors </B></P>
<P align=justify>Shareholders may send communications to the Board of Directors
of the Company by addressing such correspondence to: </P>
<P align=center>Fred W. Brackebusch <BR>Chairman of the Board <BR>New Jersey
Mining Company <BR>P.O. Box 1019 <BR>Kellogg, ID 83837 </P>
<P align=justify>As Chairman of the Board, Mr. Brackebusch monitors shareholder
communications, forwards correspondence to the appropriate committee(s) or
Director(s), and facilitates an appropriate response. </P>
<P align=right>11 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_14></A>
<P align=center><B>COMPENSATION OF DIRECTORS </B></P>
<P align=justify>During 2007, each of the Directors of the Company were paid
20,000 shares of restricted Common Stock valued at $10,000. At a Board of
Directors meeting on May 27, 2008, the Directors approved a compensation plan
for the Board of Directors. Pursuant to the compensation plan, each Director
receives annual compensation of 25,000 common shares of restricted stock. No
additional fees are paid for attendance to Board of Directors' meetings.<B>
</B></P>
<P align=justify>The following table sets forth information with regard to
compensation earned by non-employee Directors in 2007. Compensation earned by
Fred and Grant Brackebusch, as employee Directors, is included in the "Executive
Compensation" section of this Proxy Statement. </P>
<P align=justify><B>Director Compensation</B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=center><BR><BR><BR><BR>Name (1) </TD>
    <TD align=center width="12%">Fees <BR>Earned <BR>or Paid <BR>in Cash
      <BR>($) </TD>
    <TD align=center width="12%"><BR><BR>Stock <BR>Awards <BR>($) (2) </TD>
    <TD align=center width="12%"><BR><BR>Option <BR>Awards <BR>($) </TD>
    <TD align=center width="12%"><BR>Non-Equity <BR>Incentive Plan
      <BR>Compensation <BR>($) </TD>
    <TD align=center width="12%">Nonqualified <BR>Deferred <BR>Compensation
      <BR>Earnings <BR>($) </TD>
    <TD align=center width="12%">All <BR>Other <BR>Compen <BR>sation <BR>($)
    </TD>
    <TD align=center width="12%"><BR><BR><BR>Total <BR>($) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Ivan R. Linscott
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="12%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="12%">31,200 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="12%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="12%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="12%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="12%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="12%">&nbsp;
    </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>William C. Rust
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="12%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="12%">10,000 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="12%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="12%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="12%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="12%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="12%">&nbsp;
    </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>M. Kathleen Sims
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="12%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="12%">10,000 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="12%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="12%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="12%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="12%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="12%">&nbsp;
    </TD></TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>Directors Fred W. Brackebusch and Grant A. Brackebusch
      are executive officers of the Company, therefore, disclosure regarding
      their compensation as Directors is included in the Summary Compensation
      Table. See Executive Compensation.</P></TD></TR>
  <TR>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>There were no stock awards for Directors outstanding as
      of December 31, 2007.</P></TD></TR></TABLE>
<P align=center><B>EXECUTIVE OFFICERS </B></P>
<P align=justify>The executive officers of the Company, together with certain
information with respect to each of them, are as follows: </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B>Name &amp;
      Address</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="15%"
    ><B>Age</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      width="32%"><B>Position</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="20%"
    ><B>Date First Elected (1)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>Fred W. Brackebusch <BR>P.O. Box 1019 <BR>Kellogg, Idaho
      83837 <BR></TD>
    <TD align=left width="15%" >63 <BR><BR><BR></TD>
    <TD align=left width="32%">Chairman of the Board, <BR>President, Chief
      <BR>Executive Officer &amp; <BR>Treasurer </TD>
    <TD align=left width="20%" >7/18/1996 <BR><BR><BR></TD></TR>
  <TR vAlign=top>
    <TD align=left>Grant A. Brackebusch <BR>P.O. Box 131 <BR>Silverton, ID
      83867 </TD>
    <TD align=left width="15%" >38 <BR><BR></TD>
    <TD align=left width="32%">Vice President &amp; <BR>Director <BR></TD>
    <TD align=left width="20%" >7/18/1996
<BR><BR></TD></TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>Messrs. Brackebusch have been appointed by the Board of
      Directors to serve in their respective offices until such time that a
      successor may be appointed by the Board of
Directors</P></TD></TR></TABLE>
<P align=justify><B>Fred W. Brackebusch, P.E.</B> has served as the Chairman of
the Board, President, Chief Executive Officer and Treasurer of the Company since
1996. He has a B.S. and an M.S. in Geological Engineering both from the
University of Idaho. He is a consulting engineer with extensive experience in
mine development, mine </P>
<P align=right>12 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_15></A>
<P align=justify>backfill, mine management, permitting, process control and mine
feasibility studies. He has over 35 years of experience in the Coeur d'Alene
Mining District, about half of which was with Hecla Mining Co. He has been the
principal owner of Mine Systems Design, Inc., a mining consulting business which
is a large shareholder in the Company, since 1987. </P>
<P align=justify><B>Grant A. Brackebusch, P.E.</B> has served as the Vice
President and a Director of the Company since 1996. He holds a B.S. in Mining
Engineering from the University of Idaho. He worked for Newmont Gold Co. on the
Carlin Trend in open pit mine planning and pit supervision for three years. He
also has worked with Mine Systems Design, Inc. performing various engineering
and geotechnical tasks. He has worked for New Jersey Mining Company since 1996;
he supervises the daily operations of the various mining operations, mill
operations, performs various engineering tasks, and coordinates environmental
permitting. </P>
<P align=justify><B>Family Relationships </B></P>
<P align=justify>Fred W. Brackebusch is the father of Grant A. Brackebusch. Tina
C. Brackebusch is the wife of Grant A. Brackebusch. </P>
<P align=justify><B>Legal Proceedings </B></P>
<P align=justify>No Director or Officer has been involved in any legal action
involving the Company for the past five years. </P>
<P align=justify>&nbsp;</P>
<P align=justify>&nbsp;</P>
<P align=justify>&nbsp;</P>
<P align=center>[The balance of this page intentionally left blank] </P>
<P align=right>13 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_16></A>
<P align=center><B>EXECUTIVE COMPENSATION </B></P>
<P align=justify><B>Compensation of Officers </B></P>
<P align=justify>A summary of cash and other compensation for Fred Brackebusch,
the Company=s President and Chief Executive Officer, and Grant Brackebusch, the
Company's Vice President (the "Named Executive Officers"), for the two (2) most
recent years is as follows: </P>
<P align=justify><B>Summary Compensation Table </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=left><BR><BR><BR>Name &amp; <BR>Principal <BR>Position </TD>
    <TD align=center width="6%" ><BR><BR><BR><BR><BR>Year </TD>
    <TD align=center width="10%"><BR><BR><BR><BR>Salary <BR>($) </TD>
    <TD align=center width="10%"><BR><BR><BR><BR>Bonus <BR>($) </TD>
    <TD align=center width="10%"><BR><BR><BR>Stock <BR>Awards<SUP>1</SUP>
      <BR>($) </TD>
    <TD align=center width="10%"><BR><BR><BR>Option <BR>Awards <BR>($) </TD>
    <TD align=center width="10%">Nonequity <BR>Incentive Plan <BR>Compensa-
      <BR>tion <BR>($) <BR></TD>
    <TD align=center width="10%">Nonqualified <BR>Deferred <BR>Compensa-
      <BR>tion <BR>Earnings <BR>($) </TD>
    <TD align=center width="10%"><BR><BR><BR>All Other <BR>Compensa <BR>-tion
      ($) </TD>
    <TD align=center width="10%"><BR><BR><BR><BR>Total <BR>($) </TD></TR>
  <TR vAlign=top>
    <TD align=left rowSpan=2>Fred <BR>Brackebusch <BR>President </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="6%"
    >2006 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="10%">66,000 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="10%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="10%">72,063 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="10%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="10%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="10%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="10%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="10%">138,063 </TD></TR>
  <TR vAlign=top>
    <TD align=center width="6%" >2007 <BR></TD>
    <TD align=center width="10%">75,000 <BR></TD>
    <TD align=center width="10%">0 <BR></TD>
    <TD align=center width="10%">92,500 <BR></TD>
    <TD align=center width="10%">0 <BR></TD>
    <TD align=center width="10%">0 <BR></TD>
    <TD align=center width="10%">0 <BR></TD>
    <TD align=center width="10%">0 <BR></TD>
    <TD align=center width="10%"><BR>167,500 </TD></TR>
  <TR vAlign=top>
    <TD align=left rowSpan=2>Grant <BR>Brackebusch <BR>Vice <BR>President </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="6%"
    >2006 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="10%">84,000 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="10%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="10%">11,000 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="10%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="10%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="10%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="10%">0
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="10%">95,000 </TD></TR>
  <TR vAlign=top>
    <TD align=center width="6%" >2007 <BR><BR></TD>
    <TD align=center width="10%">88,500 <BR><BR></TD>
    <TD align=center width="10%">0 <BR><BR></TD>
    <TD align=center width="10%">10,000 <BR><BR></TD>
    <TD align=center width="10%">0 <BR><BR></TD>
    <TD align=center width="10%">0 <BR><BR></TD>
    <TD align=center width="10%">0 <BR><BR></TD>
    <TD align=center width="10%">0 <BR><BR></TD>
    <TD align=center width="10%">98,500 <BR><BR></TD></TR></TABLE></DIV>
<P style="MARGIN-LEFT: 5%" align=justify>(1) Stock Awards includes fees earned
as Directors.<B> </B></P>
<P align=justify>There is no employment agreement between the Company and Fred
Brackebusch, and there is no employment agreement between the Company and Grant
Brackebusch. The compensation of the Named Executive Officers has been set by
the disinterested members of the Board of Directors. The Board awards Fred
Brackebusch restricted Common Stock in addition to his salary for any hours
worked over 130 hours per month at a rate of $150 per hour. The number of shares
to be awarded is calculated quarterly by using the average bid price of the
Company's Common Stock. In 2007, the average price assigned to the shares was
$0.53 per share.</P>
<P align=justify>The Company does not have a retirement plan for its executive
officers and there is no agreement, plan or arrangement that provides for
payments to executive officers in connection with resignation, retirement,
termination or a change in control of the Company.</P>
<P align=justify><B>Outstanding Equity Awards at Fiscal Year-end</B></P>
<P align=justify>The Company does not currently award the Named Executive
Officers options to purchase the Company's shares, and there were no outstanding
equity awards as of December 31, 2007. </P>
<P align=right>14 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_17></A>
<P align=center><B>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT </B></P>
<P align=justify>The following tables set forth information as of June 30, 2008
regarding the shares of Company Common Stock beneficially owned by: (i) each
person known by the Company to own beneficially more than 5% of the Company's
Common Stock; (ii) each Director of the Company; (iii) the CEO and CFO of the
Company (the "Named Executive Officers"); and (iv) all Directors and the Named
Executive Officers of the Company as a group. Except as noted below, each holder
has sole voting and investment power with respect to shares of the Company
Common Stock listed as owned by that person.</P>
<P align=justify><B>Security Ownership of Certain Beneficial Owners </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=left>Title of Class <BR></TD>
    <TD align=center width="25%">Name and Address Of Beneficial <BR>Owner </TD>
    <TD align=center width="25%">Amount and Nature of <BR>Beneficial Owner </TD>
    <TD align=center width="25%">Percent of Class (1) <BR></TD></TR>
  <TR vAlign=top>
    <TD vAlign=top align=left>Common </TD>
    <TD vAlign=center align=left width="25%">Fred W. Brackebusch <BR>P.O. Box
      1019 <BR>Kellogg, Idaho 83837 </TD>
    <TD vAlign=center align=right width="25%">7,915,757 indirect (a)
      <BR>969,541 direct </TD>
    <TD vAlign=center align=center width="25%">24.14% </TD></TR>
  <TR vAlign=top>
    <TD vAlign=top align=left>Common </TD>
    <TD vAlign=center align=left width="25%">Constance Meisel <BR>105 East
      Atlantic Avenue <BR>Delray Beach, FL 33444 </TD>
    <TD vAlign=center align=right width="25%"><BR>3,333,333 (b) <BR></TD>
    <TD vAlign=center align=center width="25%">9.06% </TD></TR>
  <TR vAlign=top>
    <TD vAlign=top align=left>Common </TD>
    <TD vAlign=center align=left width="25%">Terry &amp; Marguerite Tyson
      <BR>County Road U <BR>Lipscomb, TX 79056 </TD>
    <TD vAlign=center align=right width="25%">1,622,000 direct(c) <BR>933,900
      indirect </TD>
    <TD vAlign=center align=center width="25%">6.95% </TD></TR>
  <TR vAlign=top>
    <TD vAlign=top align=left>Common </TD>
    <TD vAlign=center align=left width="25%">William Ritger <BR>Ocean Royale
      Way <BR>Juno Beach, FL 33408 </TD>
    <TD vAlign=center align=right width="25%">1,930,000 (d) </TD>
    <TD vAlign=center align=center width="25%">5.24%
</TD></TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">1) </TD>
    <TD>
      <P align=justify>Based upon 36,800,892 outstanding shares of Common Stock
      on June 30, 2008.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>Fred Brackebusch owns 89.6% of Mine Systems Design, Inc.
      (MSD) which is a corporation that owns 8,834,550 common shares of the
      Company. Neither MSD nor Fred Brackebusch has the right to acquire any
      securities pursuant to options, warrants, conversion privileges or other
      rights.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>Constance Miesel holds 333,334 warrants exercisable at a
      price of $0.55 with an expiration date of December 31, 2008.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>Terry and Marguerite Tyson hold 300,000 warrants
      exercisable at a price of $0.55 until December 31, 2008.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>William Ritger holds 600,000 warrants exercisable at a
      price of $0.50 until August 31, 2009.</P></TD></TR></TABLE>
<P align=center>[The balance of this page intentionally left blank] </P>
<P align=right>15 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_18></A>
<P align=justify><B>Security Ownership of Management </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=left >Title of Class <BR></TD>
    <TD align=center width="28%">Name and Address Of Beneficial <BR>Owner </TD>
    <TD align=center width="28%">Amount and Nature of <BR>Beneficial Owner </TD>
    <TD align=center width="28%">Percent of Class (1) <BR></TD></TR>
  <TR vAlign=top>
    <TD align=left >Common <BR><BR></TD>
    <TD align=left width="28%">Fred W. Brackebusch <BR>P.O. Box 1019
      <BR>Kellogg, Idaho 83837 </TD>
    <TD vAlign=center align=right width="28%">7,915,757 indirect (a)
      <BR>969,541 direct </TD>
    <TD vAlign=center align=center width="28%">24.14% </TD></TR>
  <TR vAlign=top>
    <TD align=left >Common <BR><BR></TD>
    <TD align=left width="28%">Grant A. Brackebusch <BR>P.O. Box 131
      <BR>Silverton, ID 83837 </TD>
    <TD vAlign=center align=right width="28%">996,793 indirect (b) <BR>299,136
      direct </TD>
    <TD vAlign=center align=center width="28%">3.52% </TD></TR>
  <TR vAlign=top>
    <TD align=left >Common <BR><BR></TD>
    <TD align=left width="28%">Ivan R. Linscott, Director <BR>7150 Burke Road
      <BR>Wallace, ID 83873 </TD>
    <TD vAlign=center align=right width="28%">90,500 </TD>
    <TD vAlign=center align=center width="28%">0.25% </TD></TR>
  <TR vAlign=top>
    <TD align=left >Common <BR><BR></TD>
    <TD align=left width="28%">William C. Rust, Director <BR>P.O. Box 648
      <BR>Wallace, ID 83873 </TD>
    <TD vAlign=center align=right width="28%">50,000 </TD>
    <TD vAlign=center align=center width="28%">0.14% </TD></TR>
  <TR vAlign=top>
    <TD align=left >Common <BR><BR></TD>
    <TD align=left width="28%">M. Kathleen Sims, Director <BR>2745 Seltice Way
      <BR>Coeur d'Alene, ID 83814 </TD>
    <TD vAlign=center align=right width="28%">63,000 </TD>
    <TD vAlign=center align=center width="28%">0.17% </TD></TR>
  <TR vAlign=top>
    <TD align=left >Common <BR></TD>
    <TD align=left width="28%">All Directors and Executive Officers <BR>as a
      group (5 individuals) </TD>
    <TD vAlign=center align=right width="28%">10,384,727 </TD>
    <TD vAlign=center align=center width="28%">28.22%
</TD></TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>Based upon 36,800,892 outstanding shares of Common Stock
      on June 30, 2008.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>Fred Brackebusch owns 89.6% of Mine Systems Design, Inc.
      (MSD), which is a corporation that owns 8,834,550 common shares of the
      Company. Neither MSD nor Fred Brackebusch have the right to acquire any
      securities pursuant to options, warrants, conversion privileges or other
      rights.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>Grant Brackebusch owns 10.4% of Mine Systems Design, Inc.
      (MSD), which is a corporation that owns 8,834,550 common shares of the
      Company. Neither MSD nor Grant Brackebusch have the right to acquire any
      securities pursuant to options, warrants, conversion privileges or other
      rights. Also included in the indirect total are 78,000 shares held by his
      spouse, Tina C. Brackebusch.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>None of the directors or officers has the right to
      acquire any securities pursuant to options, warrants, conversion
      privileges or other rights. No shares are pledged as
  security.</P></TD></TR></TABLE>
<P align=center>[The balance of this page intentionally left blank] </P>
<P align=right>16 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_19></A>
<P align=center><B>RECENT MARKET PRICES </B></P>
<P align=justify>Our Common Stock currently trades on the Over the Counter
Bulletin Board ("OTCBB") under the symbol "NJMC". The following table sets forth
the range of high and low bid prices as reported by the OTCBB for the periods
indicated. These quotations represent inter-dealer prices, without retail
mark-up, markdown or commission, and may not represent actual transactions. </P>
<DIV align=center>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="80%" border=1>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      ><B>Year Ending December 31, 2008</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%"><B>High Bid</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%"><B>Low Bid</B> </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      >First Quarter </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">$0.72 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">$0.45 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      >Second Quarter </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">$0.50 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">$0.33 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      ><B>Year Ending December 31, 2007</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%"><B>High Bid</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%"><B>Low Bid</B> </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      >First Quarter </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">$0.93 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">$0.51 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      >Second Quarter </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">$0.85 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">$0.65 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      >Third Quarter </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">$0.65 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">$0.34 </TD></TR>
  <TR vAlign=top>
    <TD align=left >Fourth Quarter </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">$0.57 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">$0.32 </TD></TR></TABLE></DIV>
<P align=center><B>SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE
</B></P>
<P align=justify>Under Section 16(a) of the Securities Exchange Act of 1934, as
amended, and the regulations thereunder, the Company's Directors, Executive
Officers and beneficial owners of more than 10% of any registered class of the
Company's equity securities are required to file reports of their ownership of
the Company's securities and any changes in that ownership with the SEC. Based
solely on its review of copies of these reports and any written representations
from such reporting persons, the Company believes that during 2007 such filing
requirements were complied with. </P>
<P align=center><B>ADDITIONAL</B><B> </B><B>SHAREHOLDER</B><B>
</B><B>INFORMATION </B></P>
<P align=justify><B>Shareholders </B></P>
<P align=justify>As of June 30, 2008, there were approximately 1,100
shareholders of record of the Company's Common Stock. As of June 30, 2008, the
Company had issued and outstanding 36,800,892 shares of Common Stock and the
Company had warrants to purchase 2,988,970 shares of Common Stock outstanding,
for a fully diluted total of 39,789,862. </P>
<P align=right>17 </P>
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noShade SIZE=5>
<A name=page_20></A>
<P align=justify><B>Shareholder Proposals for 2009 Annual Meeting </B></P>
<P align=justify>The Company will review shareholder proposals intended to be
included in the Company's proxy materials for the 2009 Annual Meeting of
Shareholders which are received by the Company at its principal executive
offices no later than April 15, 2009 (unless the date of the next annual meeting
is changed by more than 30 days from the date of this year's meeting, in which
case the proposal must be received a reasonable time before the Company begins
to print and mail its proxy materials). Such proposals must be submitted in
writing and should be sent to the attention of the Secretary of the Company. The
Company will comply with Rule 14a-8 of the Exchange Act with respect to any
proposal that meets its requirements.<B> </B></P>
<P align=justify><B>Annual Report </B></P>
<P align=justify>The Company's Annual Report to Shareholders is being mailed to
all Shareholders with this Proxy Statement. The Annual Report is not part of the
proxy solicitation materials for the Annual Meeting. In addition, a Shareholder
of record will receive a copy of the Company's Form 10-KSB for the fiscal year
ended December 31, 2007. The Company's Form 10-KSB may also be accessed at the
SEC's website at <U>www.sec.gov</U>.</P>
<P align=justify><B>Other Business </B></P>
<P align=justify>As of the date of this Proxy Statement, the Board of Directors
is not aware of any matters that will be presented for action at the Annual
Meeting other than those described above. However, should other business
properly be brought before the Annual Meeting, the proxies will be voted thereon
in the discretion of the persons acting hereunder. </P>
<P style="MARGIN-LEFT: 50%" align=justify>By Order of the Board of Directors</P>
<P style="MARGIN-LEFT: 50%" align=justify><u><i>/s/ Fred W. Brackebusch</i></u><br>
  Fred W. Brackebusch <BR>
  Chairman of
the Board, President <BR>and Chief Executive Officer </P>
<P align=right>18 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_21></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=top>
    <TD width="5%" align=left>1. </TD>
    <TD colspan="2" align=left>Election of Directors (check one) </TD>
  </TR>
  <TR>
    <TD width="5%" align=left>&nbsp;</TD>
    <TD align=left width="10%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%" align=left></TD>
    <TD align=left width="10%"></TD>
    <TD align=left>[&nbsp;&nbsp; ] For All Nominees (Fred W. Brackebusch, Grant
      A. Brackebusch, Ivan R. Linscott, William C. Rust and M. Kathleen Sims)
    </TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%" align=left>&nbsp; </TD>
    <TD align=left width="10%">&nbsp;</TD>
    <TD align=left>[&nbsp;&nbsp; ] Withhold All Nominees </TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%" align=left>&nbsp; </TD>
    <TD align=left width="10%">&nbsp;</TD>
    <TD align=left>[&nbsp;&nbsp; ] Withhold Authority to Vote For Any Individual
      Nominee. Write name below: </TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp; </TD>
    <TD width="10%">&nbsp;</TD>
    <TD>&nbsp; </TD>
  </TR>
  <TR>
    <TD width="5%">&nbsp; </TD>
    <TD width="10%">&nbsp;</TD>
    <TD>&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%" align=left>2. </TD>
    <TD colspan="2" align=left>Ratification of Appointment of Independent Registered
      Public Accounting Firm (check one) </TD>
  </TR>
  <TR>
    <TD width="5%" align=left>&nbsp;</TD>
    <TD align=left width="10%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%" align=left>&nbsp; </TD>
    <TD align=left width="10%">&nbsp;</TD>
    <TD align=left>[&nbsp; &nbsp;] For </TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%" align=left>&nbsp; </TD>
    <TD align=left width="10%">&nbsp;</TD>
    <TD align=left>[&nbsp; &nbsp;] Against </TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%" align=left>&nbsp; </TD>
    <TD align=left width="10%">&nbsp;</TD>
    <TD align=left>[&nbsp;&nbsp; ] Abstain </TD>
  </TR>
</TABLE>
<P align=justify>The Board of Directors recommends a vote "For" Items 1 and 2.
This proxy, when properly executed, will be voted in the manner directed herein
by the undersigned shareholder. In the absence of specific instructions, proxies
will be voted for Items 1 and 2 and at the discretion of the Proxy Agents as to
any other matters that may properly come before the Annual Meeting of
Shareholders. </P>
<P align=justify>Please sign exactly as name appears below. When shares are held
by joint tenants, both should sign. When signing as attorney, as executor,
administrator, trustee, or guardian, please give full title as such. If a
corporation, please sign in full corporate name by President or other authorized
officer. If a partnership, please sign in partnership name by authorized person.
</P>
<P align=justify>DATED: __________________________<BR></P>
<P align=justify>PLEASE MARK, SIGN, DATE, AND RETURN THIS
______________________________________________<BR>PROXY PROMPTLY USING THE
ENCLOSED ENVELOPE </P>
<P align=right>&nbsp;</P>
<P align=right>&nbsp;</P>
<P align=right>19 </P>
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