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<SEC-DOCUMENT>0001062993-10-004279.txt : 20101220
<SEC-HEADER>0001062993-10-004279.hdr.sgml : 20101220
<ACCEPTANCE-DATETIME>20101220121908
ACCESSION NUMBER:		0001062993-10-004279
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20101216
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20101220
DATE AS OF CHANGE:		20101220

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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28837
		FILM NUMBER:		101262173

	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>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>


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   <TITLE>New Jersey Mining Company: Form 8-K - Filed by newsfilecorp.com</TITLE>
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<P align=center><B><FONT size=5>UNITED STATES</FONT><BR></B><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT><BR>Washington, D.C.
20549</B></P>
<P align=center><B><FONT size=5>FORM 8-K</FONT></B></P>
<P align=center><B>CURRENT REPORT<BR></B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</P>
<P align=center><B><U>December 16, 2010 </U><BR></B>Date of Report (Date of
earliest event reported)</P>
<P align=center>&nbsp;<B><U><FONT size=5>New Jersey Mining Company
</FONT></U><BR></B>(Exact name of registrant as specified in its charter)</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=center><B><U>Idaho </U></B></TD>
    <TD align=center width="33%"><B><U>000-28837 </U></B></TD>
    <TD align=center width="33%"><B><U>82-0490295 </U></B></TD></TR>
  <TR vAlign=top>
    <TD align=center>(State or other jurisdiction of incorporation) </TD>
    <TD align=center width="33%">(Commission File Number) </TD>
    <TD align=center width="33%">(IRS Employer Identification No.)
  </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=center><B>89 Appleberg Road </B></TD>
    <TD align=center width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=center><U><B>Kellogg, Idaho </B></U></TD>
    <TD align=center width="50%"><U><B>83837 </B></U></TD></TR>
  <TR vAlign=top>
    <TD align=center>(Address of principal executive offices) </TD>
    <TD align=center width="50%">(Zip Code) </TD></TR></TABLE>
<P align=center><B><U>(208) 783-3331<BR></U></B>Registrant's telephone number,
including area code</P>
<P align=center><B><U>NOT APPLICABLE<BR></U></B>(Former name or former address,
if changed since last report)</P>
<P align=center>Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:</P>
<P align=center>____ Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</P>
<P align=center>____ Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a -12)</P>
<P align=center>____ Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d -2(b))</P>
<P align=center>____ Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e -4(c))</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_2></A>
<P align=justify><B>SECTION 1 &#150; REGISTRANT&#146;S BUSINESS AND OPERATIONS</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><B>ITEM 1.01</B> </TD>
    <TD align=left width="90%" ><B>Entry into a Material
      Definitive Agreement</B> </TD></TR></TABLE>
<P align=justify>New Jersey Mining Company (OTCBB:NJMC) (&#147;NJMC&#148;) and Marathon
Gold Corporation (MOZ-TSX) (&#147;MGC&#148;) jointly announced the formation of Golden
Chest LLC (&#147;GC&#148;). GC is owned 50% by MGC through its wholly owned US subsidiary
Marathon Gold USA Corp. (&#147;MUSA&#148;) and 50% by NJMC, with NJMC being the
operator.</P>
<P align=justify>GC has purchased the Golden Chest Mine near Murray Idaho, a
past gold producer, for US$3,750,000. GC has paid the sellers US$500,000 in cash
on closing the transaction and has agreed to pay to the sellers US$500,000 each
year for the next six years and a final payment of US$250,000 on the seventh
anniversary. The sellers have a first mortgage on the mine as security for the
future payments owing.</P>
<P align=justify>NJMC has contributed to GC certain mining claims it owned, all
geological data and certain mining equipment. Also in consideration for its
interest in GC, NJMC has terminated, for the benefit of GC, two operating leases
it held on the mine. MUSA has contributed US$1,000,000 cash and has agreed to
contribute i) US$500,000 by March 31, 2011, ii) US$500,000 by June 30, 2011,
iii) US$1,000,000 by September 30, 2011 and vi) US$1,000,000 by November 30,
2011 for a total cash contribution of US$4 million. If MUSA does not make the
US$4M payments to GC, its 50% ownership interest will be reduced proportionally.
MUSA has the right to contribute an additional US$3.5 million by November 30,
2012 to take its ownership interest to 60% of GC. MUSA also has the option to
accelerate any of these contributions.</P>
<P align=justify>After the earlier to occur of completion of the initial
contribution of US$4M or a default in paying any remaining amount of the initial
contribution, a joint funding program will commence. If MUSA chooses not to
contribute to required funding and NJMC contributes such funding, MUSA's
ownership interest will be reduced.</P>
<P align=justify><B>SECTION 3 &#150; SECURITIES AND TRADING MARKETS</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><B>ITEM 3.02</B> </TD>
    <TD align=left width="90%" ><B>Unregistered Sales of Equity
      Securities</B> </TD></TR></TABLE>
<P align=justify>MGC has also agreed to purchase from NJMC 2 million units for
US$0.20 per unit, each unit comprised of one share of NJMC and one warrant to
purchase an additional common share of NJMC at US$0.30 per share until January
31, 2013. No cash compensation fee or commission was paid in connection with the
private placement. </P>
<P align=justify>The securities of the private placement were not registered
under the U.S. Securities Act of 1933, as amended (&#147;Securities Act&#148;), or the
securities laws of any state, and are subject to resale restrictions and may not
be offered or sold in the United States absent registration under the Securities
Act or an applicable exemption from such the registration requirements in
accordance with all applicable state securities laws. The securities were placed
pursuant to exemptions from registration requirements of the Securities Act
provided by Section 506 of Regulation D under the Securities Act and Section
4(2) of the Securities Act, such exemptions being available based on information
obtained from the investors in the private placement</P>
<P align=justify><B>SECTION 9 &#150; FINANCIAL STATEMENTS AND EXHIBITS</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><B>ITEM 9.01</B> </TD>
    <TD align=left width="90%" ><B>Financial Statements and
      Exhibits</B> </TD></TR></TABLE>
<P align=justify><B>Exhibits</B></P>
<P align=justify>None</P>
<P align=center>2</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_3></A>
<P align=center><B>SIGNATURE</B></P>
<P align=justify>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 hereunto duly authorized.</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=left  colSpan=2><B>New Jersey Mining
      Company</B> </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="5%"  >&nbsp;</TD>
    <TD width="45%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left  >Date:</TD>
    <TD align=left>&nbsp;December 20, 2010 </TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left  >By:</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><I>/s/
      Fred W. Brackebusch</I> </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD  >&nbsp;</TD>
    <TD>&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD colspan="2" align=left  >FRED W. BRACKEBUSCH </TD>
    </TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD colspan="2" align=left  >President, Chief Executive Officer </TD>
    </TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD colspan="2" align=left  >and Chief Financial Officer</TD>
</TR></TABLE>
<P align=center>3</P>
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