Published:
Sterling Mining Company Faces Additional Litigation
KELLOGG, Idaho, Sept. 26 /PRNewswire/ -- Sunshine Precious Metals, Inc.
filed withShoshone County a notarized Declaration and Notice of Default to
the Sterling Mining Company (OTC Bulletin Board: SRLM; TSX-V: SMQ) for
breaching its lease on the historic silver mine inIdaho. The Notice of
Default concerns Sterling's inability or unwillingness to pay their creditors.
"Although we are under no obligation to issue press releases, we recognize
the importance of fair and open public disclosure", said Andrew Grundman,
spokesman for Sunshine Precious Metals, Inc. Mr. Grundman further went on to
say "Sunshine has been the recent target of substantial litigation in the wake
of Sterling's disastrous failure to pay its creditors. We have been presented
further concern as to Sterling's sustainability given it has suspended
production activities and reduced its workforce by approximately 60%. These
events lead us to greater concern as to the potential devaluation and other
consequences to our asset. They have decided to operate outside the
parameters of our agreement and engage in business practices that have
precipitated into a situation in which we believe they are ultimately
responsible."
Sunshine Precious Metals, Inc. has repeatedly asked the Sterling Mining
Company to provide immediate attention to the multiple liens set against the
company, as well as other breaches. Since Sunshine is the owner of the
historic silver mine, the focus of this litigation has been placed on the
lessee. To view the filing and other related information, please visit
http://www.sunshinemine.info/
For additional information please contact Andrew Grundman, Esq. at
(208) 215-8475 or info@sunshinemine.com.
SOURCE Sunshine Precious Metals, Inc.
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
Daily NewsTags: ,MNG,OTC,LAW,ID-Sunshine-Mine-lwst
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