New Jersey Mining Co. announced that two core holes have been completed at its Toboggan project and a third hole is underway. The Toboggan project is a gold exploration joint venture between New Jersey Mining Company and Newmont North America Exploration Limited (Newmont). Two holes were completed at the Mineral Ridge prospect. The first hole was inclined at-45 degrees and drilled to a depth of 336.8 meters. It intercepted multiple zones of silicification with pyrite and chlorite mineralization. The second hole was drilled at an inclination of-70 degrees to a depth of 153.8 meters, and it also intercepted multiple zones of silicification with pyrite and chlorite mineralization. The third hole was collared at the Golden Reward prospect where soil sampling identified a gold-in-soil anomaly 240 meters wide by at least 400 meters long. Currently this hole is at 48.8 meters in depth with a planned hole depth of 350 meters. After completion of drilling at the Golden Reward, the drill will be moved to the Gold Butte prospect to test a mapped structural zone and geophysical target with associated anomalous gold values, pyritic vein and quartz-sulfide mineralization.

New Jersey Mining Co. announced that it expects core drilling to start at its Toboggan project in mid-May. Drilling is planned to start at the Mineral Ridge prospect, where Newmont's soil sampling program has identified a gold-in-soil anomaly about 200 meters wide by 700 meters long. The first drill hole is targeted to explore the northeastern part of the soil anomaly where soil sampling revealed a gold-in soil anomaly 73 meters wide with an average gold-in-soil content of 0.128 grams per tonne (gpt) gold. Rock samples from the area show signs of shearing or brecciation and silica-flooding. A rock float sample assayed 38.4 gpt gold, 19.6 gpt silver and 61 gpt tellurium. Mineral Ridge was the site of a small reverse-circulation drilling program with 850 meters drilled in the early 1990s that identified widespread gold mineralization associated with structural zones of fractured rock. The next drilling target will be at the Golden Reward prospect, where soil sampling identified a gold-in-soil anomaly 240 meters wide by at least 400 meters long. Outcrop is poorly exposed in the Golden Reward soil anomaly area; however, rock float has been found in the center of the anomaly that assayed 67.6 gpt gold, 174 gpt silver, and 132 parts per million (ppm) tellurium. Other rock float samples from near the center of the soil anomaly have shown that high levels of beryllium (>1000 ppm) and scandium (>1000 ppm) may be associated with quartz veining. It appears that no historic exploration drilling has taken place at the Golden Reward prospect.

New Jersey Mining Co. filed its 10-K on March 30, 2009 for the period ending December 31, 2008. In this report its auditor, DeCoria, Maichel & Teague P.S., gave an unqualified opinion expressing doubt that the company can continue as a going concern.