10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

FORM 10-Q

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2015

or

[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______ to ______

Commission file number: 000-28837

NEW JERSEY MINING COMPANY

(Exact name of registrant as specified in its charter)

Idaho	82-0490295
(State or other jurisdiction  of incorporation or organization)	(I.R.S. employer identification No.)

201 N. Third Street, Coeur d’Alene, ID 83814

(Address of principal executive offices) (zip code)

(208) 503-0153

Registrant’s telephone number, including area code

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(D) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period as the registrant was required to file such reports), and (2) has been subject to filing requirements for the past 90 days.

Yes [X]  No [  ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes [X]  No [  ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “small reporting company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer       .	Accelerated Filer        .
Non-Accelerated Filer       .	Smaller reporting company      X   .

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)

Yes [  ] No [X]

On May 1, 2015, 91,760,148 shares of the registrant’s common stock were outstanding.

1

NEW JERSEY MINING COMPANY

QUARTERLY REPORT ON FORM 10-Q

FOR THE QUARTERLY PERIOD

ENDED MARCH 31, 2015

TABLE OF CONTENTS

2

PART I-FINANCIAL INFORMATION

Item 1: CONSOLIDATED FINANCIAL STATEMENTS

New Jersey Mining Company Consolidated Balance Sheets March 31, 2015 and December 31, 2014
ASSETS
		March 31, 2015		December 31, 2014
		(Unaudited)
Current assets:
Cash and cash equivalents	$	27,347	$	336,525
Joint venture receivables		58,729		55,021
Note receivable		58,386		58,386
Milling receivables		227,500		117,615
Other current assets		19,702		22,495
Total current assets		391,664		590,042
Property, plant and equipment, net of accumulated depreciation		5,609,132		5,654,199
Mineral properties, net of accumulated amortization		557,458		557,458
Deposit on equipment		51,004		12,480
Total assets	$	6,609,258	$	6,814,179
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	135,370	$	77,913
Accrued payroll and related payroll expenses		42,634		49,960
Interest payable on note		6,417
Note payable related party, short term		40,577		39,384
Milling advance		200,000		200,000
Notes payable, short term		180,472		180,385
Total current liabilities		605,470		547,642
Asset retirement obligation		24,688		23,366
Note payable related party, long term		130,430		141,033
Notes payable, long term		146,887		148,288
Total long term liabilities		302,005		312,687
Total liabilities		907,475		860,329
Commitments (Note 3 and 9)
Stockholders’ equity:
Preferred stock, no par value, 1,000,000 shares authorized; no shares issued    or outstanding				-
Common stock, no par value, 200,000,000 shares authorized;    2015 and 2014-91,760,148 shares issued and outstanding		13,469,855		13,442,395
Accumulated deficit		(11,004,505)		(10,735,658)
Total New Jersey Mining Company stockholders’ equity		2,465,350		2,706,737
Non-controlling interest in New Jersey Mill Joint Venture and GF&H Company		3,236,433		3,247,113
Total stockholders' equity		5,701,783		5,953,850
Total liabilities and stockholders’ equity	$	6,609,258	$	6,814,179

The accompanying notes are an integral part of these consolidated financial statements.

3

New Jersey Mining Company Consolidated Statements of Operations (Unaudited) For the Three Month Periods Ended March 31, 2015 and 2014
		March 31
		2015			2014
Revenue:
Joint venture management fee income				$	76
Milling income	$		391,120
Total revenue			391,120		76
Costs and expenses:
Milling			338,770		13,204
Exploration			47,057		84,569
Depreciation and amortization			48,919		14,526
Management			56,539		22,756
Professional services			60,777		81,862
General and administrative expenses			108,418		51,907
Total operating expenses			660,480		268,824
Operating income (loss)			(269,360)		(268,748)
Other (income) expense:
Other income					(11,885)
Interest income			(1,471)		(126)
Interest expense			11,638		11,619
Total other (income) expense			10,167		(392)
Income tax (provision) benefit
Net loss			(279,527)		(268,356)
Net loss attributable to non-controlling interests			(10,679)
Net loss attributable to New Jersey Mining Company	$		(268,848)	$	(268,356)
Net loss per common share-basic and diluted	$		Nil	$	Nil
Weighted average common shares outstanding-basic and diluted			91,760,148		75,760,148

The accompanying notes are an integral part of these consolidated financial statements.

4

New Jersey Mining Company Consolidated Statements of Cash Flows (Unaudited) For the Three Month Periods Ended March 31, 2015 and 2014
	March 31,
	2015		2014
Cash flows from operating activities:
Net loss	$	(279,527)	$	(268,356)
Adjustments to reconcile net loss to net cash (used) by operating activities:
Depreciation and amortization		48,919		14,526
Accretion of asset retirement obligation		1,323		288
Stock based compensation		27,458
Change in:
Joint venture receivables		(3,708)		(31,430)
Milling receivables		(109,885)
Other current assets		2,793		70
Accounts payable		57,457		16,754
Interest payable		6,417
Accrued payroll and related payroll expense		(7,325)		6,651
Net cash (used) by operating activities		(256,078)		(261,497)
Cash flows from investing activities:
Purchases of property, plant and equipment		(3,852)		(5,633)
Deposits on Equipment		(38,524)		(23,616)
Net cash used by investing activities		(42,376)		(29,249)
Cash flows from financing activities:
Sales of common stock and warrants, net of issuance costs				405,000
Principal payments on notes payable		(1,314)		(16,156)
Principal payments on capital lease				(8,555)
Principal payments on note and other payables, related party, net		(9,410)		(1,133)
Proceeds from non-controlling interest, net				8,554
Net cash provided (used) by financing activities		(10,724)		387,710
Net change in cash and cash equivalents		(309,178)		96,964
Cash and cash equivalents, beginning of period		336,525		636,127
Cash and cash equivalents, end of period	$	27,347	$	733,091

The accompanying notes are an integral part of these consolidated financial statements.

5

New Jersey Mining Company

Notes to Consolidated Financial Statements (Unaudited)

1.

The Company and Significant Accounting Policies:

These unaudited interim consolidated financial statements have been prepared by the management of New Jersey Mining Company (the “Company”) in accordance with accounting principles generally accepted in the United States of America for interim financial information. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete consolidated financial statements. In the opinion of the Company’s management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the interim consolidated financial statements have been included.

The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published, and the reported amounts of revenues and expenses during the reporting period. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of the Company's financial statements; accordingly, it is possible that the actual results could differ from these estimates and assumptions, which could have a material effect on the reported amounts of the Company's financial position and results of operations. Operating results for the three month period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2015.

For further information refer to the financial statements and footnotes thereto in the Company’s audited financial statements for the year ended December 31, 2014 as filed with the Securities and Exchange Commission.

Principles of Consolidation

At March 31, 2015, the consolidated financial statements include the accounts of the Company, the accounts of our majority owned New Jersey Mill Joint Venture, and the accounts of GF&H as of July 14, 2014, an entity in which New Jersey Mining has two thirds of the ownership. Intercompany items and transactions between companies included in the consolidation are eliminated.

Revenue Recognition

Revenue is recognized when title and risk of ownership of metals or metal bearing concentrate have passed and collection is reasonably assured. Revenue from the sale of metals may be subject to adjustment upon final settlement of estimated metal prices, weights and assays, and are recorded as adjustments to revenue in the period of final settlement of prices, weights and assays; such adjustments are typically not material in relation to the initial invoice amounts. Revenue received from drilling and exploration contracts with third parties is recognized when the contract has been established, the services are rendered and collection of payment is deemed probable. These services are not a part of normal operations. Income received as the operator of the Company’s joint ventures is recognized in the months during which those operations occur. Revenue received from engineering services provided is recognized when services are rendered and collection of payment is deemed probable. These services are not a part of normal operations. Revenues from mill operations and custom milling are recognized in the period in which the milling is performed and collection of payment is deemed probable.

Reclassifications

Certain prior period amounts have been reclassified to conform to the 2014 financial statement presentation. Reclassifications had no effect on net loss, stockholders’ equity, or cash flows as previously reported.

2.

Going Concern

As shown in the accompanying financial statements, the Company had minimal revenue and a net loss of $279,527 in the first quarter of 2015 as well as a Cash and Cash Equivalents balance of $27,347 at March 31, 2015. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

However, the Company has put the New Jersey Mill into production and is proceeding through the ramp-up period of a start-up mining and milling operation. The Company has begun to generate revenue from increased rates of milling ores from the Golden Chest Mine.

The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event the Company cannot continue its operations.

6

New Jersey Mining Company

Notes to Consolidated Financial Statements (Unaudited)

3.

Related Parties

In August 2012, the Company entered into a note by Mine Systems Design (MSD) to purchase property for $223,806 at 12% interest to be paid in 60 monthly payments. At March 31, 2015 and March 31, 2014 the remaining amount due was $171,007 and $207,017, respectively. In the first three months of 2015 and 2014 $5,319 and $6,378, respectively was paid in interest.

4.

Joint Ventures

For joint ventures where the Company holds more than 50% of the voting interest and has significant influence, the joint venture is consolidated with the presentation of non-controlling interest. For joint ventures in which the Company does not have joint control or significant influence, the cost method is used. For those joint ventures in which there is joint control between the parties, and the Company has significant influence the equity method is utilized.

At March 31, 2015 and December 31, 2014, the Company’s percentage ownership and method of accounting for each joint venture is as follows:

	March 31, 2015			December 31, 2014
Joint Venture	% Ownership	Significant Influence?	Accounting Method	% Ownership	Significant Influence?	Accounting Method
New Jersey Mill Joint Venture(“NJMJV”)	66%	Yes	Consolidated	66%	Yes	Consolidated
Golden Chest LLC Joint Venture (“GC”)	48%	No	Cost	48%	No	Cost

New Jersey Mill Joint Venture Agreement

In June of 2012, Crescent Silver Corp. (“Crescent”) (holds non-controlling interest in NJMJV) completed its buy-in for 35% of the New Jersey Mill Joint Venture (the “Mill JV” or “NJMJV”) with a cumulative $3.2 million contribution to bring the capacity of the mill to 15 tonnes/hr. As of March 31, 2015 and March 31, 2014, an account receivable existed with Crescent for $37,554 and $72,696, respectively for monthly operating costs as defined in the JV agreement.

During the quarter ended March 31, 2015 the mill processed 8,231 tonnes of ore from the Golden Chest Mine owned by GCJV which is being mined under an agreement with Gold Hill. To facilitate the startup costs for milling of the Golden Chest ore, Gold Hill advanced $200,000 interest-free to NJMC on November 7, 2014, at the beginning of the ramp–up phase. These funds will be deducted from milling receipts over a six month period once the ramp-up period is completed and most likely commencing in Q2 of 2015.

Golden Chest LLC Joint Venture

On September 3, 2013 the Golden Chest LLC Joint Venture (the “GC”) signed a lease agreement with Juniper Resources, LLC (Juniper) of Boise, Idaho for a defined portion of the Golden Chest mine property known as the Skookum Shoot (a 400 meter strike length along the Idaho vein below the No. 3 Level). The lease with Juniper calls for an initial payment of $50,000 to GC, which was received in 2013, and a work requirement of 1,500 to 3,000 meters of core drilling which has also been completed. Juniper signed the lease and made a payment of $200,000 to GC at the end of November 2013. Juniper is required to make land payments of $125,000 per quarter on the promissory note on behalf of GC which it also has done. Additionally, Juniper will pay a 2% net smelter royalty to GC on all gold production from the leased area with the $250,000 initial payments treated as an advance on this royalty. The lease was subsequently assigned to Gold Hill Reclamation and Mining Inc., an affiliated company. The lease has a term of 39 months. Gold Hill began shipping ore in the 4^th quarter of 2014 and 10,154 tonnes have been processed at the New Jersey Mill through March 31, 2015.

7

New Jersey Mining Company

Notes to Consolidated Financial Statements (Unaudited)

5.

Non-Controlling Interest in Mill JV

Crescent’s non-controlling interest in NJMJV represents its investment in the Joint Venture less any losses associated with their share. Its investment changed as follows from December 31, 2014 to March 31, 2015:

Balance December 31, 2014	$	3,197,113
Depreciation charges		(10,679)
Balance March 31 2014	$	3,186,433

6.

Earnings per Share

For the three month period ended March 31, 2015, the effect of the Company’s potential issuance of shares from the exercise of 21,200,000 outstanding warrants and 4,250,000 options to purchase common stock would have been anti-dilutive. Accordingly, only basic net loss per share has been presented.

7.

Property, Plant, and Equipment

Property, plant and equipment at March 31, 2015 and December 31, 2014, consisted of the following:

		March 31, 2015		December 31, 2014
Mill land	$	225,289	$	225,289
Mill building		536,193		536,193
Milling equipment		4,005,623		4,001,771
		4,767,105		4,763,253
Less accumulated depreciation		(196,240)		(152,151)
Total mill		4,570,865		4,611,102
Building and equipment at cost		252,348		252,348
Less accumulated depreciation		(221,756)		(216,926)
Total building and equipment		30,592		35,422
Land		1,007,675		1,007,675
Total	$	5,609,132	$	5,654,199

8.

Mineral Properties

Mineral properties at March 31, 2015 and December 31, 2014 consisted of the following:

		March 31, 2015		December 31, 2014
New Jersey	$	288,365	$	288,365
McKinley		250,000		250,000
Silver Button/Roughwater		25,500		25,500
Toboggan		5,000		5,000
Less accumulated amortization		(11,407)		(11,407)
Total	$	557,458	$	557,458

8

New Jersey Mining Company

Notes to Consolidated Financial Statements (Unaudited)

9.

Notes Payable

At March 31, 2015 and December 31, 2014 notes payable are as follows	March 31, 2015		December 31, 2014
Property with shop 36 month note payable, 4.91% interest rate payable monthly, remaining principal of note due in one payment at end of term, monthly payments of $474	$	45,450	$	46,337
Property, 15 month note payable, 5% interest per annum, collateralized by property, one remaining payment of $175,000		175,000		175,000
Property 120 month note payable, 11.0% interest rate payable monthly, remaining principal of note due in one payment at end of term, collateralized by property, monthly payments of $1,122		106,909		107,336
Total notes payable		327,359		328,673
Due within one year		180,472		180,385
Due after one year	$	146,887	$	148,288

10.

Equity

Common Stock issued for Cash

A private placement was completed by the Company in the first quarter of 2014. Each unit consist of two shares of the Company’s common stock and one purchase warrant, each warrant exercisable for one share of the Company’s stock at $0.15 through March 2017. At the closing of the private placement in March 2014, 3,000,000 units consisting of 6,000,000 shares and 3,000,000 warrants were sold for net proceeds of $405,000 after deducting the 10% commission. No shares were issued in 2015.

Stock Purchase Warrants Outstanding

No transactions in common stock purchase warrants occurred during the period ended March 31, 2015. The balance in stock purchase warrants is as follows:

	Number of Warrants		Exercise Prices
Balance December 31, 2013	11,000,000	$	0.15
Issued in connection with private placement	10,200,000	$	0.10-0.20
Balance  December 31, 2014 and March 31, 2015	21,200,000	$	0.10-0.20

These warrants expire as follows:

Shares	Exercise Price	Expiration Date
11,000,000	$0.15	May 31, 2015
3,000,000	$0.15	March 4, 2017
6,000,000	$0.20	August 11, 2017
1,200,000	$0.10	August 11, 2019

11.

Stock Options

In April 2014, the Company established a stock option plan to authorize the granting of stock options to officers and employees. Upon exercise of the options shares are issued from the available authorized shares of the Company.

On April 30, 2014, 2,250,000 options were issued to management, 750,000 options vested immediately and the remaining 1,500,000 vested at a rate of 750,000 each year on the anniversary for 2 additional years, and they expire after 3 years. Each option allows the holder to purchase one share of the Company’s stock at $0.10 prior to expiration. Utilizing the Black Scholes option pricing model, an expected life of three years, a risk free rate of 0.87%, and expected volatility of 161.30% compensation cost of $173,844 is associated with the options. Of this, $115,896 was recorded as a general and administrative expense in 2014 and $10,865 was recorded in the first quarter of 2015. At March 31, 2015 unrecognized compensation cost related to these options was $47,083, which is expected to be recognized over the next year. All options expire on April 30, three years after their vest date.

9

New Jersey Mining Company

Notes to Consolidated Financial Statements (Unaudited)

On December 31, 2014, 500,000 options which vested immediately and expire after two years were issued to R Patrick Highsmith in connection with his hiring as the Company’s President and CEO. Each option allows the holder to purchase one share of the Company’s stock at $0.11 prior to expiration. Utilizing the Black Scholes option pricing model, an expected life of two years, a risk free rate of 0.49%, and expected volatility of 158.10%, a compensation cost of $36,250 is associated with these options and was recorded as a general and administrative expense in 2014.

On December 12, 2014, 1,500,000 options were issued to management, 750,000 options vested immediately and the remaining 750,000 vested after one year. The options expire after 5 years. Each option allows the holder to purchase one share of the Company’s stock at $0.15 prior to expiration. Utilizing the Black Scholes option pricing model, an expected life of five years, a risk free rate of 1.65%, and expected volatility of 150.60%, a compensation cost of $116,153 is associated with these options. Of this $49,780 was recorded as a general and administrative expense in 2014. The remaining compensation cost of $66,373 is being recognized in 2015, including $16,593, which was recognized in the first quarter. All options expire on December 12, 2019. On December 12, 2014 an additional 250,000 options were issued to past President and CEO R. Patrick Highsmith with a vesting date of December 2015. As part of the resignation and release agreement those options are no longer valid.

	Number of Options	Exercise Prices
Balance January 1, 2014	0	0
Issued	4,250,000	$0.10-0.15
Outstanding December 31, 2014	4,250,000	$0.10-0.15
Outstanding March 31, 2015	4,250,000	$0.10-0.15
Exercisable at March 31, 2015	2,000,000	$0.10-0.15

Outstanding options had no intrinsic value at March 31, 2014.

12.

GF&H Company

On July 14, 2014, the Company purchased of two thirds of the issued and outstanding common shares of GF&H Company (“GF&H”). NJMC acquired an interest in GF&H to further its land holdings in the area of its Golden Chest Property.

This transaction was accounted for as a business combination. The Company acquired two thirds of the issued and outstanding common shares of GF&H for $100,000 in cash. GF&H’s sole asset was 347 acres of land near Murray, Idaho, it had no liabilities. 

A summary of the purchase is as follows:

	New Jersey Mining Company	Non-controlling Interest
Consideration	(66 2/3%)	(33 1/3%)	Total
Cash	$100,000		$100,000
Fair value of non-controlling interest		50,000	50,000
	$100,000	$50,000	$150,000
Assets acquired
Land and mineral interest			$150,000

The consolidated statement of operations of the Company for the quarter ended March 31, 2015 includes expenses incurred by GF&H of $59 and no revenue. GF&H has had minimal operating activity over the past several years.

The unaudited pro forma financial information below represents the combined results of the Company’s operations as if the GF&H acquisition had occurred at the beginning of the period presented. The unaudited pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have occurred if the transaction had taken place at the beginning of the period presented, nor is it indicative of future operating results. The amounts presented for the quarter ended March 31, 2014 represent the actual results for the period.

10

New Jersey Mining Company

Notes to Consolidated Financial Statements (Unaudited)

		March 31, 2014
Revenue:	$	76
Operating expenses		(268,432)
Net loss from continuing operations		(268,356)
Net loss per common share, basic and diluted		Nil

13.

Subsequent Events

On May 4, 2015, Patrick Highsmith, President and Chief Executive Officer of the Company, tendered his resignation as the Company's President and Chief Executive Officer, effective immediately. Simultaneously therewith, Mr. Highsmith tendered his resignation as a member of the Board of Directors of the Company, also effective immediately.

Subsequently, on May 5, 2015, the Board of Directors accepted the resignation of Mr. Highsmith as Chief Executive Officer, President and Director. The Company and Mr. Highsmith entered into a Resignation and Release agreement with Patrick Highsmith, effective as of May 1, 2015. Pursuant to the Agreement, the Company agreed to pay Mr. Highsmith his base salary through the end of May, provide his medical benefits for the months of May and June, and provide him with the previously vested stock options. The agreement included a mutual release of claims.

On May 5, 2015, the Board of Directors of the Company reappointed Mr. Delbert Steiner (70) as the Company’s Chief Executive Officer, and reappointed Mr. John Swallow (48) as the Company’s President. Mr. Steiner and Mr. Swallow also currently serve on the Company’s Board of Directors and their compensation arraignment with the Company was unchanged. The Company will recognize any general and administrative expenses related to these events in the second quarter of 2015.

11

Item 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

When we use the terms "New Jersey Mining Company," the "Company," "we," "us," or "our," we are referring to New Jersey Mining Company (the “Company”) and its subsidiaries, unless the context otherwise requires.

Cautionary Statement about Forward-Looking Statements

This Quarterly Report on Form 10-Q and the exhibits attached hereto contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended.  Such forward-looking statements concern the Company’s anticipated results and developments in the Company’s operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future.  These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. These statements include, but are not limited to, comments regarding:

·

the establishment and estimates of mineralization;

·

the grade of mineralization;

·

anticipated expenditures and costs in our operations;

·

planned exploration activities and the anticipated outcome of such exploration activities;

·

plans and anticipated timing for obtaining permits and licenses for our properties;

·

expected future financing and its anticipated outcome;

·

anticipated liquidity to meet expected operating costs and capital requirements;

·

our ability to obtain joint ventures partners and maintain working relationships with our current joint venture partners;

·

our ability to obtain financing to fund our estimated expenditure and capital requirements; and

·

factors expected to impact our results of operations.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements.  Forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including, without limitation:

·

risks related to our limited operating history;

·

risks related to our history of losses and our expectation of continued losses;

·

risks related to our properties being in the exploration or development stage;

·

risks related our mineral operations being subject to government regulation;

·

risks related to future legislation and administrative changes to mining laws;

·

risks related to future legislation regarding climate change;

·

risks related to our ability to obtain additional capital or joint venture partners;

·

risks related to land reclamation requirements and costs;

·

risks related to mineral exploration and development activities being inherently dangerous;

·

risks related to our insurance coverage for operating risks;

·

risks related to cost increases for our exploration and development projects;

·

risks related to a shortage of equipment and supplies adversely affecting our ability to operate;

·

risks related to mineral estimates;

·

risks related to the fluctuation of prices for precious and base metals, such as gold and silver;

·

risks related to the competitive industry of mineral exploration;

·

risks related to our title and rights in our mineral properties and mill;

·

risks related to joint venture partners and our contractual obligations therewith;

·

risks related to potential conflicts of interest with our management;

·

risks related to our dependence on key management;

·

risks related to the New Jersey Mill operations, management, and milling capacity;

·

risks related to our business model;

·

risks related to evolving corporate governance standards for public companies; and

·

risks related to our shares of common stock.

This list is not exhaustive of the factors that may affect our forward-looking statements. Some of the important risks and uncertainties that could affect forward-looking statements are described further under the sections titled “Description of Business” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, filed on March 31, 2015. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated, or expected.  We caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date

12

made. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as required by law.

Plan of Operation

The Company is operating a mineral processing plant near Kellogg, Idaho, conducting gold exploration in Northern and Central Idaho and evaluating new mining and milling opportunities around the western US. The Company’s financial strategy is to generate cash from milling fees, royalties, and future mine operations so as to minimize the need for financing in the capital markets. NJMC seeks to minimize costs and share risks by forming joint ventures, mineral lease arrangements, partnerships and other forms of agreements with qualified mining industry companies. The strategy includes finding and developing mineral deposits of significant quality and quantity to justify investment in mining and mineral processing facilities. The Company’s primary focus is on gold with silver and base metals of secondary emphasis. The Company receives revenue for providing milling services, from royalties, and in management fees.

The Company’s focus during 2014 was on preparing for commencement of mining operations at the Golden Chest Mine by lessee, Gold Hill Reclamation and Mining Inc. In anticipation of processing ores from the Golden Chest Mine the Company invested in certain upgrades and expansions to the New Jersey Mill. The Company added a gravity processing circuit to the mill and expanded the tailings impoundment facility, among other minor modifications and adjustments. Gold Hill commenced construction and underground development during the third quarter of 2014, delivering the first ore to the New Jersey Mill in December of 2014.

During 2011 and 2012, the New Jersey mineral processing plant was expanded in order to process ore from the nearby Crescent silver mine. NJMC executed a definitive venture agreement with United Silver Corp (USC) and its subsidiary United Mine Services (UMS), owner of the Crescent mine, in January 2011. The plant was expanded from a processing rate of 4 tonnes/hr to 15 tonnes/hr. USC paid the expansion cost, which was $3.2 million. The joint venture agreement anticipated that USC would be entitled to process up to 7,000 tonnes per month from the Crescent Mine and NJMC would have rights for up to 3,000 tonnes per month of capacity during the processing of Crescent ores. Under the agreement, each party would pay its processing costs and NJMC will charge a management fee of $2.50/tonne. The plant was commissioned during 2012, but ore production from the Crescent Mine was curtailed by USC for economic reasons so the plant became idle in September 2012. The mill remained idle through 2013 and most of 2014, until commissioning its new upgrades in November of 2014 (See Company news release dated November 12, 2014).

In April 2014, Hale Capital Partners, through its subsidiary Crescent Silver LLC (“Crescent Silver”), acquired the assets of United Mine Services in a consensual foreclosure process. This transaction included the UMS stake in the New Jersey Mill JV. Hence, Crescent Silver is the Company’s current joint venture partner at the New Jersey Mill. Crescent Silver produced no ore during 2014.

The Company’s exploration efforts are focused on the Golden Chest Project and the newly acquired McKinley and Eastern Star Projects. Other exploration properties include the Toboggan area and Coleman Mine.

There was no significant exploration work at the Golden Chest JV during the year, but the NJMC geological team has begun preparing a strategy to test near-mine targets outside the area of the Skookum Shoot mineral lease. Now that Gold Hill has built significant new infrastructure at Golden Chest, including a new modern portal, nearly a thousand meters of 4.5m by 4.5m development drifting, secondary escapeway and ventilation raises, the potential of exploration targets in proximity to that infrastructure may be notably enhanced.

NJMC geologists conducted limited programs at the McKinley and Eastern Star projects during 2014. The Company drilled just under 400 meters of small-diameter core from the underground workings at McKinley. The drill results returned several high-grade intersepts that may warrant follow-up, including 2.5m of 43.7 gpt Au and 3.5m of 18.5 gpt Au. The McKinley Project is at an early stage project, but there are significant high-grade (+30 gpt Au) showings over more than 3.8 kilometers of prospecting on the 1,800-hectare (4,443 acres) project. See Company news release dated January 2, 2015.

During 2014, the Company also conducted limited exploration work at the Eastern Star Project in the Elk City District of Central Idaho. The property is being acquired under a purchase option agreement with Premium Exploration Inc. In the first field season on the project, NJMC geologists collected rock samples and trench samples that included 11.34 gpt Au over 4.3 meters and 14.15 gpt over 0.9 meters. There has been no drilling at Eastern Star. The project will require considerable additional work in order to assess its economic potential.

13

The Toboggan Project consists of several groups of claims to the north of Golden Chest. Formerly joint ventured with Newmont Mining and including a lease agreement with Hecla Mining, the properties have seen well over $2.0 million in exploration investment in recent years. The gold prospects in the Toboggan area are potentially “look alikes” to the Golden Chest vein system. The Company has begun a review of the data collected to date and anticipates evaluating the areas geologic potential in relation to the Golden Chest Mine.

At the Coleman underground mine, which is part of the New Jersey Mine and Mill property, the Company conducted no significant exploration during 2014, but Company geologists are currently evaluating the known gold-bearing veins and historic targets for their future potential. Now that the New Jersey Mill is processing ores from the Golden Chest Mine, the potential economics of nearby gold prospects may have improved.

Changes in Financial Condition

The Company maintains an adequate cash balance by increasing or decreasing its exploration expenditures as limited by availability of cash from operations or from financing activities. The cash balance at the end of 2014 was $336,525 compared to $636,127 at the end of 2013.

Results of Operations

There was $391,120 revenue in the first quarter of 2015 and none in the first quarter of 2014. The Revenue in 2015 is from milling of ore at the Golden Chest Mine. The net loss for the first quarter of 2015 was $279,527 compared to a loss of $268,356 for 2014. The net loss remained relatively stable as the milling of Golden Chest ore is in still in the ramp up period.

The Company invested $274,144 in additional facilities at the mill in 2014 and plans to continue to process ore from the Golden Chest (Skookum Project) that started production in December 2014. The company received $200,000 in the fourth quarter from Juniper Resources to facilitate the startup process at the mill; those funds will be deducted from future milling payments made by Juniper to the Company. The Company currently has no additional candidate projects for milling production, however it continues to conduct business development and exploration to generate future mill feed for New Jersey Mill.

The amount of money to be spent on exploration at the Company’s mines and prospects depends primarily on contributions of our joint venture partners, fundraising, and cash flow from the mill.

The audit opinion and notes that accompany our consolidated financial statements for the year ended December 31, 2014, disclose a ‘going concern’ qualification to our ability to continue in business. The accompanying consolidated financial statements have been prepared under the assumption that we will continue as a going concern. We are operating a start-up mineral processing operation, but we also remain an exploration stage company that has incurred losses since our inception. We do not have sufficient cash to fund normal operations and meet debt obligations for the next 12 months without seeing increased revenue from our milling operations, commencement of cash flow from our mineral royalty on the Golden Chest Mine, deferring payment on certain current liabilities, and/or raising additional funds. We believe that the going concern condition cannot be removed with confidence until the Company has entered into a business climate where the stability of our business is more assured. We currently have no historical recurring source of revenue and our ability to continue as a going concern is dependent on our ability to profitably execute our business plan or raise capital to fund our future exploration and working capital requirements. Our plans for the long-term return to and continuation as a going concern include growing milling revenues, receipt of cash from the Golden Chest royalty, sales of our common stock and/or debt, and the eventual profitable exploitation of our mining properties.

Additionally, the current capital markets and general economic conditions in the United States are significant obstacles to raising the required funds. These factors raise substantial doubt about our ability to continue as a going concern.

Cash and Cash Equivalents

Cash and cash equivalents decreased in the first quarter of 2015 as a result of ramp up costs associated with the Skookum ore processing.

Milling Receivable

Milling receivables have increased during the first quarter of 2015 as the ramp up of the Skookum project has begun.

Deposit on Equipment

Deposit on equipment has increased in the first quarter of 2015 because of deposits made on equipment that is being manufactured to enhance the milling process.

14

Accounts Payable

Accounts payable have increased in the first quarter of 2015 because of increased milling activity.

Interest Payable on Note

A short term note with interest is payable in July of 2015 for property in the Elk City Group.

Milling Income

Milling income increased in 2015 as a result of processing the Skookum ore which started in December 2014.

Milling Costs

Milling costs increased in 2015 as a result of processing the Skookum ore which started in December 2014.

Management Costs

Management costs increased in 2015 as a result of increased activity related to the milling of the Skookum ore.

General and Administrative Costs

General and Administrative costs increased in 2015 as a result of increased activity related to the milling of the Skookum ore.

Royalties and Other Income

Royalties and other income was higher in 2014 as a result of rental income that was received for a core drill that was rented by the Company.

Stock Based Compensation

Stock based compensation increased in 2015 compared to 2014 because of expenses associated with the award of options to directors which began in April 2014.

Sales of Common Stock and Warrants, net of Issuance Costs

Sales of common stock and warrants, net of issuance costs decreased in 2015 because a private placement was held in 2014.

Item 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not required for small reporting companies.

Item 4:

 CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

At March 31, 2015, our President who also serves as our Chief Accounting Officer evaluated the effectiveness of the design and operation of our disclosure controls and procedures pursuant to Rule 13a-15(e) of the Securities Exchange Act of 1934 (the “Exchange Act”), which disclosure controls and procedures are designed to insure that information required to be disclosed by a company in the reports that it files under the Exchange Act is recorded, processed, summarized, and reported within required time periods specified by the Securities & Exchange Commission rules and forms.

Based upon that evaluation, it was concluded that our disclosure controls were effective as of March 31, 2015, to ensure timely reporting with the Securities and Exchange Commission. Specifically, the Company’s corporate governance and disclosure controls and procedures provided reasonable assurance that required reports were timely and accurately reported in our periodic reports filed with the Securities and Exchange Commission.

Changes in internal control over financial reporting

The President and Principal Accounting Officer conducted evaluations of our internal controls over financial reporting to determine whether any changes occurred during the quarter ended March 31, 2015 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting. There was no material change in internal control over financial reporting in the quarter ended March 31, 2015.

15

PART II - OTHER INFORMATION

Item 1.

 LEGAL PROCEEDINGS

On March 19, 2015, Crescent Silver, LLC, an affiliate of Hale Capital Partners, LP and minority owner of the New Jersey Mill Joint Venture, filed an action against the Company as manager of the mill, seeking damages for, among other claims, alleged breach of the Joint Venture Agreement in connection with meetings, programs, budgets, and the milling of ore from the Company’s properties. The plaintiff seeks damages in excess of $75,000, as claimed in the complaint, which was filed in the Federal District Court of Idaho.  While the outcome of any litigation is difficult to predict, the Company believes the claims are without merit and the Company is vigorously defending the lawsuit as manager of the New Jersey Mill Joint Venture.

Item 2.

 UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

Neither the constituent instruments defining the rights of the Company’s securities filers nor the rights evidenced by the Company’s outstanding common stock have been modified, limited or qualified.

No shares of the Company’s stock were issued in the first quarter of 2015.

Item 3.

 DEFAULTS UPON SENIOR SECURITIES

The Company has no outstanding senior securities.

Item 4.

 MINE SAFETY DISCLOSURES

Pursuant to Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), issuers that are operators, or that have a subsidiary that is an operator, of a coal or other mine in the United States are required to disclose in their periodic reports filed with the SEC information regarding specified health and safety violations, orders and citations, related assessments and legal actions, and mining-related fatalities. During the quarter ended March 31, 2015, the Company had no citations for a violation of mandatory health or safety standards that could significantly and substantially (S&S citation) contribute to the cause and effect a mine safety or health hazard under section 104 of the Federal Mine Safety and Health Act of 1977. There were no legal actions, mining-related fatalities, or similar events in relation to the Company’s United States operations requiring disclosure pursuant to Section 1503(a) of the Dodd-Frank Act.

Item 5.

 OTHER INFORMATION

None

Item 6.

 EXHIBITS

Number	Description
3.1	Articles of Incorporation. Filed as an exhibit to the registrant's registration statement on Form 10 (Commission File No. 000-28837) and incorporated by reference herein.
3.2	Bylaws. Filed as an exhibit to the registrant's registration statement on Form 10 (Commission File No. 000-28837) and incorporated by reference herein.
10.1	Strategic Partnership Agreement with Juniper Resources and its Affiliates, incorporated by reference to Registrant’s Form 8-K filed on March 4, 2015.
31.1	Certification pursuant to Section 302 of the Sarbanes-Oxley act of 2002.*
31.2	Certification pursuant to Section 302 of the Sarbanes-Oxley act of 2002.*
32.1	Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*
32.2	Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

* as filed herewith

16

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.  

NEW JERSEY MINING COMPANY

By:   /s/ John Swallow

John Swallow,

its: President

Date May 15, 2015

By:   /s/ Delbert Steiner

Delbert Steiner,

its: Chief Executive Officer and Chief Financial Officer

Date: May 15, 2015

17

EX-31

Exhibit 31.1

Certification

I, Delbert Steiner, certify that:

(1) I have reviewed this quarterly report on Form 10-Q of New Jersey Mining Company.

(2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

(3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

(4) I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

(5) I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  May 15, 2015

By /s/     Delbert Steiner

Delbert Steiner

Chief Executive Officer

EX-31

Exhibit 31.2

Certification

I, Delbert Steiner, certify that:

(1) I have reviewed this quarterly report on Form 10-Q of New Jersey Mining Company.

(2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

(3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

(4) I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

(5) I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:  May 15, 2015

By /s/                  Delbert Steiner

Delbert Steiner

Chief Financial Officer

EX-32

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of New Jersey Mining Company, (the "Company") on Form 10-Q for the period ending March 31, 2015, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Delbert Steiner, Chief Executive Officer and Director of New Jersey Mining Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date:  May 15, 2015

By /s/  Delbert Steiner

Delbert Steiner

Chief Executive Officer

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906 has been provided to New Jersey Mining Company and will be retained by New Jersey Mining Company and furnished to the Securities and Exchange Commission or its staff upon request.

The foregoing certification is being furnished in accordance with Securities and Exchange Commission Release No. 34-47551 and shall not be considered filed as part of the Form 10-Q

EX-32

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of New Jersey Mining Company, (the "Company") on Form 10-Q for the period ending March 31, 2015, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Delbert Steiner, Chief Financial Officer and Director of New Jersey Mining Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date:  May 15, 2015

By /s/  Delbert Steiner

Delbert Steiner

Chief Financial Officer

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906 has been provided to New Jersey Mining Company and will be retained by New Jersey Mining Company and furnished to the Securities and Exchange Commission or its staff upon request.

The foregoing certification is being furnished in accordance with Securities and Exchange Commission Release No. 34-47551 and shall not be considered filed as part of the Form 10-Q

XML

7. Property, Plant, and Equipment: Property, Plant and Equipment (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Details
Mill land	$ 225,289	$ 225,289
Mill building	536,193	536,193
Milling equipment	4,005,623	4,001,771
Mill Buildings and Improvements, Gross	4,767,105	4,763,253
Mill buildings and improvements, accumulated depreciation	(196,240)	(152,151)
Mill Buildings and Improvements, Net	4,570,865	4,611,102
Buildings and Improvements, Gross	252,348	252,348
Buildings and improvements, accumulated depreciation	(221,756)	(216,926)
Buildings and improvements net	30,592	35,422
Land	1,007,675	1,007,675
Property, plant and equipment, net of accumulated depreciation	$ 5,609,132	$ 5,654,199

XML

12. Gf&h Company: Business Acquisition, Pro Forma Information (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Details
Business Acquisition, Pro Forma Revenue	$ 76
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations before Changes in Accounting and Extraordinary Items, Net of Tax, Per Share, Diluted	$ (268,432)
Business Acquisition, Pro Forma Net Income (Loss)	$ (268,356)
Basic Earnings Per Share, Pro Forma	$ 0

XML

12. Gf&h Company: Schedule of Business Acquisitions, by Acquisition (Details) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Details
Business Acquisition Cost of Acquired Entity Controlling Interest		100,000
Payments of Merger Related Costs, Financing Activities	$ 100,000
Business Acquisition Cost of Acquired Entity Noncontrolling Interest		50,000
Business Acquisition Contribution from Noncontrolling Interest, Fair Value		50,000
Business Combination, Acquisition Related Costs	150,000
Business Acquisition, Purchase Price Allocation, Land		$ 150,000

XML

2. Going Concern (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Details
Net loss	$ 279,527	$ 268,356
Cash and cash equivalents	$ 27,347	$ 733,091	$ 336,525	$ 636,127

XML

7. Property, Plant, and Equipment: Property, Plant and Equipment (Tables)

3 Months Ended

Mar. 31, 2015

Tables/Schedules

Property, Plant and Equipment

		March 31, 2015		December 31, 2014
Mill land	$	225,289	$	225,289
Mill building		536,193		536,193
Milling equipment		4,005,623		4,001,771
		4,767,105		4,763,253
Less accumulated depreciation		(196,240)		(152,151)
Total mill		4,570,865		4,611,102
Building and equipment at cost		252,348		252,348
Less accumulated depreciation		(221,756)		(216,926)
Total building and equipment		30,592		35,422
Land		1,007,675		1,007,675
Total	$	5,609,132	$	5,654,199

XML

10. Equity (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2015	Dec. 31, 2014
Details
Units issued price per unit	$ 0.15
Units Issued in connection with private placement	$ 3,000,000
Shares Issued in connection with private placement	6,000,000
Warrants Issued in connection with private placement units	3,000,000
Private placement net proceeds	405,000
Class of Warrant or Right, Outstanding		21,200,000	11,000,000
Warrants Issued in connection with private placement			$ 10,200,000

XML

5. Non-controlling Interest in Mill Jv: Changes in non controlling interest during period (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Details
Other Noncontrolling Interests	$ 3,186,433	$ 3,197,113
Net loss attributable to non-controlling interests	$ (10,679)

XML

12. Gf&h Company (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Details
Subsidiary expenses, detail	$ 59

XML

4. Joint Ventures

3 Months Ended

Mar. 31, 2015

Notes

4. Joint Ventures

4.  Joint Ventures

For joint ventures where the Company holds more than 50% of the voting interest and has significant influence, the joint venture is consolidated with the presentation of non-controlling interest. For joint ventures in which the Company does not have joint control or significant influence, the cost method is used. For those joint ventures in which there is joint control between the parties, and the Company has significant influence the equity method is utilized.

At March 31, 2015 and December 31, 2014, the Company’s percentage ownership and method of accounting for each joint venture is as follows:

	March 31, 2015			December 31, 2014
Joint Venture	% Ownership	Significant Influence?	Accounting Method	% Ownership	Significant Influence?	Accounting Method
New Jersey Mill Joint Venture(“NJMJV”)	66%	Yes	Consolidated	66%	Yes	Consolidated
Golden Chest LLC Joint Venture (“GC”)	48%	No	Cost	48%	No	Cost

New Jersey Mill Joint Venture Agreement

In June of 2012, Crescent Silver Corp. (“Crescent”) (holds non-controlling interest in NJMJV) completed its buy-in for 35% of the New Jersey Mill Joint Venture (the “Mill JV” or “NJMJV”) with a cumulative $3.2 million contribution to bring the capacity of the mill to 15 tonnes/hr. As of March 31, 2015 and March 31, 2014, an account receivable existed with Crescent for $37,554 and $72,696, respectively for monthly operating costs as defined in the JV agreement.

During the quarter ended March 31, 2015 the mill processed 8,231 tonnes of ore from the Golden Chest Mine owned by GCJV which is being mined under an agreement with Gold Hill. To facilitate the startup costs for milling of the Golden Chest ore, Gold Hill advanced $200,000 interest-free to NJMC on November 7, 2014, at the beginning of the ramp–up phase. These funds will be deducted from milling receipts over a six month period once the ramp-up period is completed and most likely commencing in Q2 of 2015.

Golden Chest LLC Joint Venture

On September 3, 2013 the Golden Chest LLC Joint Venture (the “GC”) signed a lease agreement with Juniper Resources, LLC (Juniper) of Boise, Idaho for a defined portion of the Golden Chest mine property known as the Skookum Shoot (a 400 meter strike length along the Idaho vein below the No. 3 Level). The lease with Juniper calls for an initial payment of $50,000 to GC, which was received in 2013, and a work requirement of 1,500 to 3,000 meters of core drilling which has also been completed. Juniper signed the lease and made a payment of $200,000 to GC at the end of November 2013. Juniper is required to make land payments of $125,000 per quarter on the promissory note on behalf of GC which it also has done. Additionally, Juniper will pay a 2% net smelter royalty to GC on all gold production from the leased area with the $250,000 initial payments treated as an advance on this royalty. The lease was subsequently assigned to Gold Hill Reclamation and Mining Inc., an affiliated company. The lease has a term of 39 months. Gold Hill began shipping ore in the 4^th quarter of 2014 and 10,154 tonnes have been processed at the New Jersey Mill through March 31, 2015.

XML

10. Equity: Warrant expiration (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Sep. 30, 2014
Details
Warrants Issued in connection with private placement		$ 11,000,000
Exercise price, private placement warrants		$ 0.15
Warrant Expiration Date	May 31, 2015
Warrants Issued in connection with private placement		3,000,000
Exercise price, private placement warrants		$ 0.15
Warrant Expiration Date	March 4, 2017
Warrants Issued in connection with private placement		6,000,000
Exercise price, private placement warrants		$ 0.20
Warrant Expiration Date	August 11, 2017
Warrants Issued in connection with private placement, broker		$ 1,200,000
Exercise price, private placement warrants, Broker		$ 0.10
Warrant Expiration Date Broker	August 11, 2019

XML

11. Stock Options: Schedule of Stockholders' Equity Note, Warrants or Rights (Tables)

3 Months Ended

Mar. 31, 2015

Tables/Schedules

Schedule of Stockholders' Equity Note, Warrants or Rights

	Number of Options	Exercise Prices
Balance January 1, 2014	0	0
Issued	4,250,000	$0.10-0.15
Outstanding December 31, 2014	4,250,000	$0.10-0.15
Outstanding March 31, 2015	4,250,000	$0.10-0.15
Exercisable at March 31, 2015	2,000,000	$0.10-0.15

XML

10. Equity: Warrant expiration (Tables)

3 Months Ended

Mar. 31, 2015

Tables/Schedules

Warrant expiration

Shares	Exercise Price	Expiration Date
11,000,000	$0.15	May 31, 2015
3,000,000	$0.15	March 4, 2017
6,000,000	$0.20	August 11, 2017
1,200,000	$0.10	August 11, 2019

XML

11. Stock Options (Details) (USD $)	12 Months Ended
	Dec. 31, 2014
Details
Stock options issued to management	2,250,000
Stock options issued to management Value	$ 173,844
Stock options issued to management	500,000
Stock options issued to officer value	36,250
Stock options issued to management	1,500,000
Stock options issued to management Value	$ 116,153

XML

12. Gf&h Company: Schedule of Business Acquisitions, by Acquisition (Tables)

3 Months Ended

Mar. 31, 2015

Tables/Schedules

Schedule of Business Acquisitions, by Acquisition

	New Jersey Mining Company	Non-controlling Interest
Consideration	(66 2/3%)	(33 1/3%)	Total
Cash	$100,000		$100,000
Fair value of non-controlling interest		$50,000	$  50,000
	$100,000	$50,000	$150,000
Assets acquired
Land and mineral interest			$150,000

XML

12. Gf&h Company: Business Acquisition, Pro Forma Information (Tables)

3 Months Ended

Mar. 31, 2015

Tables/Schedules

Business Acquisition, Pro Forma Information

		March 31, 2014
Revenue:	$	76
Operating expenses		(268,432)
Net loss from continuing operations		(268,356)
Net loss per common share, basic and diluted		Nil

XML

3. Related Parties

3 Months Ended

Mar. 31, 2015

Notes

3. Related Parties

3.  Related Parties

In August 2012, the Company entered into a note by Mine Systems Design (MSD) to purchase property for $223,806 at 12% interest to be paid in 60 monthly payments. At March 31, 2015 and March 31, 2014 the remaining amount due was $171,007 and $207,017, respectively. In the first three months of 2015 and 2014 $5,319 and $6,378, respectively was paid in interest.

XML

1. The Company and Significant Accounting Policies (Details)	3 Months Ended
	Mar. 31, 2015
Details
Basis of Accounting	These unaudited interim consolidated financial statements have been prepared by the management of New Jersey Mining Company (the “Company”) in accordance with accounting principles generally accepted in the United States of America for interim financial information. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete consolidated financial statements. In the opinion of the Company’s management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the interim consolidated financial statements have been included.

XML

8. Mineral Properties: Schedule of mineral properties (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Details
Mineral Properties 1	$ 288,365		$ 288,365
Mineral Properties 2	250,000		250,000
Mineral Properties 3	25,500		25,500
Mineral Properties 4	5,000		5,000
Mineral properties amortization	(11,407)	(11,407)
Mineral properties net	$ 557,458		$ 557,458

XML

New Jersey Mining Company Consolidated Balance Sheets (interim period unaudited) (USD $)	Mar. 31, 2015		Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 27,347		$ 336,525
Joint venture receivables	58,729		55,021
Note receivable	58,386		58,386
Milling receivables	227,500		117,615
Other current assets	19,702		22,495
Total current assets	391,664		590,042
Property, plant and equipment, net of accumulated depreciation	5,609,132		5,654,199
Mineral properties, net of accumulated amortization	557,458		557,458
Deposit on equipment	51,004		12,480
Total assets	6,609,258		6,814,179
Current liabilities:
Accounts payable	135,370		77,913
Accrued payroll and related payroll expenses	42,634		49,960
Interest payable on note	6,417
Note payable related party, short term	40,577		39,384
Milling advance	200,000		200,000
Notes payable, short term	180,472		180,385
Total current liabilities	605,470		547,642
Asset retirement obligation	24,688		23,366
Note payable related party, long term	130,430		141,033
Notes payable, long term	146,887		148,288
Total long term liabilities	302,005		312,687
Total liabilities	907,475		860,329
Commitments	0	[1]	0	[1]
Stockholders' equity:
Preferred stock, no par value, 1,000,000 shares authorized; no shares issued or outstanding	0		0
Common stock, no par value, 200,000,000 shares authorized; 2015 and 2014-91,760,148 shares issued and outstanding	13,469,855		13,442,395
Accumulated deficit	(11,004,505)		(10,735,658)
Total New Jersey Mining Company stockholders' equity	2,465,350		2,706,737
Non-controlling interest in New Jersey Mill Joint Venture and GF and H Company	3,236,433		3,247,113
Total stockholders' equity	5,701,783		5,953,850
Total liabilities and stockholders' equity	$ 6,609,258		$ 6,814,179

[1] Notes 3 and 9

XML

11. Stock Options: Schedule of Stockholders' Equity Note, Warrants or Rights (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Details
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	4,250,000	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	4,250,000

XML

1. The Company and Significant Accounting Policies

3 Months Ended

Mar. 31, 2015

Notes

1. The Company and Significant Accounting Policies:

1.  The Company and Significant Accounting Policies:

These unaudited interim consolidated financial statements have been prepared by the management of New Jersey Mining Company (the “Company”) in accordance with accounting principles generally accepted in the United States of America for interim financial information. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete consolidated financial statements. In the opinion of the Company’s management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the interim consolidated financial statements have been included.

The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published, and the reported amounts of revenues and expenses during the reporting period. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of the Company's financial statements; accordingly, it is possible that the actual results could differ from these estimates and assumptions, which could have a material effect on the reported amounts of the Company's financial position and results of operations. Operating results for the three month period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2015.

For further information refer to the financial statements and footnotes thereto in the Company’s audited financial statements for the year ended December 31, 2014 as filed with the Securities and Exchange Commission.

Principles of Consolidation

At March 31, 2015, the consolidated financial statements include the accounts of the Company, the accounts of our majority owned New Jersey Mill Joint Venture, and the accounts of GF&H as of July 14, 2014, an entity in which New Jersey Mining has two thirds of the ownership. Intercompany items and transactions between companies included in the consolidation are eliminated.

Revenue Recognition

Revenue is recognized when title and risk of ownership of metals or metal bearing concentrate have passed and collection is reasonably assured. Revenue from the sale of metals may be subject to adjustment upon final settlement of estimated metal prices, weights and assays, and are recorded as adjustments to revenue in the period of final settlement of prices, weights and assays; such adjustments are typically not material in relation to the initial invoice amounts. Revenue received from drilling and exploration contracts with third parties is recognized when the contract has been established, the services are rendered and collection of payment is deemed probable. These services are not a part of normal operations. Income received as the operator of the Company’s joint ventures is recognized in the months during which those operations occur. Revenue received from engineering services provided is recognized when services are rendered and collection of payment is deemed probable. These services are not a part of normal operations. Revenues from mill operations and custom milling are recognized in the period in which the milling is performed and collection of payment is deemed probable.

Reclassifications

Certain prior period amounts have been reclassified to conform to the 2014 financial statement presentation. Reclassifications had no effect on net loss, stockholders’ equity, or cash flows as previously reported.

XML

4. Joint Ventures: Schedule of percentage ownership and method of accounting (Details)	Mar. 31, 2015	Dec. 31, 2014
Details
Investment Owned, Percent of Net Assets	66.00%	66.00%
investment owned percentage of net assets 2	48.00%

XML

1. The Company and Significant Accounting Policies: Reclassifications (Policies)

3 Months Ended

Mar. 31, 2015

Policies

Reclassifications

Reclassifications

Certain prior period amounts have been reclassified to conform to the 2014 financial statement presentation. Reclassifications had no effect on net loss, stockholders’ equity, or cash flows as previously reported.

XML

4. Joint Ventures (Details) (USD $)	Mar. 31, 2015	Mar. 31, 2014
Details
Joint venture receivables, detail of accounts receivable	$ 37,554	$ 72,696

XML

5. Non-controlling Interest in Mill Jv: Changes in non controlling interest during period (Tables)

3 Months Ended

Mar. 31, 2015

Tables/Schedules

Changes in non controlling interest during period

Balance December 31, 2014	$	3,197,113
Depreciation charges		(10,679)
Balance March 31 2014	$	3,186,433

XML

2. Going Concern

3 Months Ended

Mar. 31, 2015

Notes

2. Going Concern

2.  Going Concern

As shown in the accompanying financial statements, the Company had minimal revenue and a net loss of $279,527 in the first quarter of 2015 as well as a Cash and Cash Equivalents balance of $27,347 at March 31, 2015. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

However, the Company has put the New Jersey Mill into production and is proceeding through the ramp-up period of a start-up mining and milling operation. The Company has begun to generate revenue from increased rates of milling ores from the Golden Chest Mine.

The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event the Company cannot continue its operations.

XML

Statement of Financial Position - Parenthetical (USD $)	Dec. 31, 2014	Dec. 31, 2013
Statement of financial position
Preferred Stock, Par Value	$ 0.00	$ 0.00
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par Value	$ 0.00	$ 0.00
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares Issued	91,760,148	91,760,148
Common Stock, Shares Outstanding	91,760,148	91,760,148

XML

12. Gf&h Company

3 Months Ended

Mar. 31, 2015

Notes

12. Gf&h Company

12.  GF&H Company

On July 14, 2014, the Company purchased of two thirds of the issued and outstanding common shares of GF&H Company (“GF&H”). NJMC acquired an interest in GF&H to further its land holdings in the area of its Golden Chest Property.

This transaction was accounted for as a business combination. The Company acquired two thirds of the issued and outstanding common shares of GF&H for $100,000 in cash. GF&H’s sole asset was 347 acres of land near Murray, Idaho, it had no liabilities. 

A summary of the purchase is as follows:

	New Jersey Mining Company	Non-controlling Interest
Consideration	(66 2/3%)	(33 1/3%)	Total
Cash	$100,000		$100,000
Fair value of non-controlling interest		$50,000	$  50,000
	$100,000	$50,000	$150,000
Assets acquired
Land and mineral interest			$150,000

The consolidated statement of operations of the Company for the quarter ended March 31, 2015 includes expenses incurred by GF&H of $59 and no revenue. GF&H has had minimal operating activity over the past several years.

The unaudited pro forma financial information below represents the combined results of the Company’s operations as if the GF&H acquisition had occurred at the beginning of the period presented. The unaudited pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have occurred if the transaction had taken place at the beginning of the period presented, nor is it indicative of future operating results. The amounts presented for the quarter ended March 31, 2014 represent the actual results for the period.

		March 31, 2014
Revenue:	$	76
Operating expenses		(268,432)
Net loss from continuing operations		(268,356)
Net loss per common share, basic and diluted		Nil

XML

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	May 01, 2015
Document and Entity Information
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2015
Entity Registrant Name	New Jersey Mining Company
Entity Central Index Key	0001030192
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		91,760,148
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

XML

13. Subsequent Events

3 Months Ended

Mar. 31, 2015

Notes

13. Subsequent Events

13.  Subsequent Events

On May 4, 2015, Patrick Highsmith, President and Chief Executive Officer of the Company, tendered his resignation as the Company's President and Chief Executive Officer, effective immediately. Simultaneously therewith, Mr. Highsmith tendered his resignation as a member of the Board of Directors of the Company, also effective immediately.

Subsequently, on May 5, 2015, the Board of Directors accepted the resignation of Mr. Highsmith as Chief Executive Officer, President and Director. The Company and Mr. Highsmith entered into a Resignation and Release agreement with Patrick Highsmith, effective as of May 1, 2015. Pursuant to the Agreement, the Company agreed to pay Mr. Highsmith his base salary through the end of May, provide his medical benefits for the months of May and June, and provide him with the previously vested stock options. The agreement included a mutual release of claims.

On May 5, 2015, the Board of Directors of the Company reappointed Mr. Delbert Steiner (70) as the Company’s Chief Executive Officer, and reappointed Mr. John Swallow (48) as the Company’s President. Mr. Steiner and Mr. Swallow also currently serve on the Company’s Board of Directors and their compensation arraignment with the Company was unchanged. The Company will recognize any general and administrative expenses related to these events in the second quarter of 2015.

XML

New Jersey Mining Company Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenue:
Joint venture management fee income		$ 76
Milling income	391,120
Total revenue	391,120	76
Costs and expenses:
Milling	338,770	13,204
Exploration	47,057	84,569
Depreciation and amortization	48,919	14,526
Management	56,539	22,756
Professional services	60,777	81,862
General and administrative expenses	108,418	51,907
Total operating expenses	660,480	268,824
Operating income (loss)	(269,360)	(268,748)
Other (income) expense:
Other income		(11,885)
Interest income	(1,471)	(126)
Interest expense	11,638	11,619
Total other (income) expense	10,167	(392)
Income tax (provision) benefit	0	0
Net loss	(279,527)	(268,356)
Net loss attributable to non-controlling interests	(10,679)
Net loss attributable to New Jersey Mining Company	$ (268,848)	$ (268,356)
Net loss per common share-basic and diluted	$ 0	$ 0
Weighted average common shares outstanding-basic and diluted	91,760,148	75,760,148

XML

7. Property, Plant, and Equipment

3 Months Ended

Mar. 31, 2015

Notes

7. Property, Plant, and Equipment

7.  Property, Plant, and Equipment

Property, plant and equipment at March 31, 2015 and December 31, 2014, consisted of the following:

		March 31, 2015		December 31, 2014
Mill land	$	225,289	$	225,289
Mill building		536,193		536,193
Milling equipment		4,005,623		4,001,771
		4,767,105		4,763,253
Less accumulated depreciation		(196,240)		(152,151)
Total mill		4,570,865		4,611,102
Building and equipment at cost		252,348		252,348
Less accumulated depreciation		(221,756)		(216,926)
Total building and equipment		30,592		35,422
Land		1,007,675		1,007,675
Total	$	5,609,132	$	5,654,199

XML

6. Earnings Per Share

3 Months Ended

Mar. 31, 2015

Notes

6. Earnings Per Share

6.  Earnings per Share

For the three month period ended March 31, 2015, the effect of the Company’s potential issuance of shares from the exercise of 21,200,000 outstanding warrants and 4,250,000 options to purchase common stock would have been anti-dilutive. Accordingly, only basic net loss per share has been presented.

XML

4. Joint Ventures: Schedule of percentage ownership and method of accounting (Tables)

3 Months Ended

Mar. 31, 2015

Tables/Schedules

Schedule of percentage ownership and method of accounting

	March 31, 2015			December 31, 2014
Joint Venture	% Ownership	Significant Influence?	Accounting Method	% Ownership	Significant Influence?	Accounting Method
New Jersey Mill Joint Venture(“NJMJV”)	66%	Yes	Consolidated	66%	Yes	Consolidated
Golden Chest LLC Joint Venture (“GC”)	48%	No	Cost	48%	No	Cost

XML

1. The Company and Significant Accounting Policies: Use of Estimates, Policy (Policies)

3 Months Ended

Mar. 31, 2015

Policies

Use of Estimates, Policy

The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published, and the reported amounts of revenues and expenses during the reporting period. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of the Company's financial statements; accordingly, it is possible that the actual results could differ from these estimates and assumptions, which could have a material effect on the reported amounts of the Company's financial position and results of operations. Operating results for the three month period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2015.

XML

10. Equity

3 Months Ended

Mar. 31, 2015

Notes

10. Equity

10.  Equity

Common Stock issued for Cash

A private placement was completed by the Company in the first quarter of 2014. Each unit consist of two shares of the Company’s common stock and one purchase warrant, each warrant exercisable for one share of the Company’s stock at $0.15 through March 2017. At the closing of the private placement in March 2014, 3,000,000 units consisting of 6,000,000 shares and 3,000,000 warrants were sold for net proceeds of $405,000 after deducting the 10% commission. No shares were issued in 2015.

Stock Purchase Warrants Outstanding

No transactions in common stock purchase warrants occurred during the period ended March 31, 2015. The balance in stock purchase warrants is as follows:

	Number of Warrants		Exercise Prices
Balance December 31, 2013	11,000,000	$	0.15
Issued in connection with private placement	10,200,000	$	0.10-0.20
Balance  December 31, 2014 and March 31, 2015	21,200,000	$	0.10-0.20

These warrants expire as follows:

Shares	Exercise Price	Expiration Date
11,000,000	$0.15	May 31, 2015
3,000,000	$0.15	March 4, 2017
6,000,000	$0.20	August 11, 2017
1,200,000	$0.10	August 11, 2019

XML

8. Mineral Properties

3 Months Ended

Mar. 31, 2015

Notes

8. Mineral Properties

8.  Mineral Properties

Mineral properties at March 31, 2015 and December 31, 2014 consisted of the following:

		March 31, 2015		December 31, 2014
New Jersey	$	288,365	$	288,365
McKinley		250,000		250,000
Silver Button/Roughwater		25,500		25,500
Toboggan		5,000		5,000
Less accumulated amortization		(11,407)		(11,407)
Total	$	557,458	$	557,458

XML

9. Notes Payable

3 Months Ended

Mar. 31, 2015

Notes

9. Notes Payable

9.  Notes Payable

At March 31, 2015 and December 31, 2014 notes payable are as follows	March 31, 2015		December 31, 2014
Property with shop 36 month note payable, 4.91% interest rate payable monthly, remaining principal of note due in one payment at end of term, monthly payments of $474	$	45,450	$	46,337
Property, 15 month note payable, 5% interest per annum, collateralized by property, one remaining payment of $175,000		175,000		175,000
Property 120 month note payable, 11.0% interest rate payable monthly, remaining principal of note due in one payment at end of term, collateralized by property, monthly payments of $1,122		106,909		107,336
Total notes payable		327,359		328,673
Due within one year		180,472		180,385
Due after one year	$	146,887	$	148,288

XML

11. Stock Options

3 Months Ended

Mar. 31, 2015

Notes

11. Stock Options

11.  Stock Options

In April 2014, the Company established a stock option plan to authorize the granting of stock options to officers and employees. Upon exercise of the options shares are issued from the available authorized shares of the Company.

On April 30, 2014, 2,250,000 options were issued to management, 750,000 options vested immediately and the remaining 1,500,000 vested at a rate of 750,000 each year on the anniversary for 2 additional years, and they expire after 3 years. Each option allows the holder to purchase one share of the Company’s stock at $0.10 prior to expiration. Utilizing the Black Scholes option pricing model, an expected life of three years, a risk free rate of 0.87%, and expected volatility of 161.30% compensation cost of $173,844 is associated with these options. Of this $115,896 was recorded as a general and administrative expense in 2014. The remaining compensation cost of $57,948 is expected to be recognized over the next 1.5 years. All options expire on April 30 three years after their vest date.

On December 31, 2014, 500,000 options which vested immediately and expire after two years were issued to R Patrick Highsmith in connection with his hiring as the Company’s President and CEO. Each option allows the holder to purchase one share of the Company’s stock at $0.11 prior to expiration. Utilizing the Black Scholes option pricing model, an expected life of two years, a risk free rate of 0.49%, and expected volatility of 158.10% compensation cost of $36,250 is associated with these options and was recorded as a general and administrative expense in 2014.

On December 12, 2014, 1,500,000 options were issued to management, 750,000 options vested immediately and the remaining 750,000 vested after one year. The options expire after 5 years. Each option allows the holder to purchase one share of the Company’s stock at $0.15 prior to expiration. Utilizing the Black Scholes option pricing model, an expected life of five years, a risk free rate of 1.65%, and expected volatility of 150.60%, a compensation cost of $116,153 is associated with these options. Of this $49,780 was recorded as a general and administrative expense in 2014. The remaining compensation cost of $66,373 is being recognized in 2015, including $16,593, which was recognized in the first quarter. All options expire on December 12, 2019. On December 12, 2014 an additional 250,000 options were issued to past President and CEO R. Patrick Highsmith with a vesting date of December 2015. As part of the resignation and release agreement those options are no longer valid.

	Number of Options	Exercise Prices
Balance January 1, 2014	0	0
Issued	4,250,000	$0.10-0.15
Outstanding December 31, 2014	4,250,000	$0.10-0.15
Outstanding March 31, 2015	4,250,000	$0.10-0.15
Exercisable at March 31, 2015	2,000,000	$0.10-0.15

Outstanding options had no intrinsic value at March 31, 2014.

XML

3. Related Parties (Details) (USD $)	Mar. 31, 2015	Mar. 31, 2014
Details
Due to Affiliate	$ 171,007	$ 207,017

XML

1. The Company and Significant Accounting Policies: Revenue Recognition (Policies)

3 Months Ended

Mar. 31, 2015

Policies

Revenue Recognition

Revenue Recognition

Revenue is recognized when title and risk of ownership of metals or metal bearing concentrate have passed and collection is reasonably assured. Revenue from the sale of metals may be subject to adjustment upon final settlement of estimated metal prices, weights and assays, and are recorded as adjustments to revenue in the period of final settlement of prices, weights and assays; such adjustments are typically not material in relation to the initial invoice amounts. Revenue received from drilling and exploration contracts with third parties is recognized when the contract has been established, the services are rendered and collection of payment is deemed probable. These services are not a part of normal operations. Income received as the operator of the Company’s joint ventures is recognized in the months during which those operations occur. Revenue received from engineering services provided is recognized when services are rendered and collection of payment is deemed probable. These services are not a part of normal operations. Revenues from mill operations and custom milling are recognized in the period in which the milling is performed and collection of payment is deemed probable.

XML

8. Mineral Properties: Schedule of mineral properties (Tables)

3 Months Ended

Mar. 31, 2015

Tables/Schedules

Schedule of mineral properties

		March 31, 2015		December 31, 2014
New Jersey	$	288,365	$	288,365
McKinley		250,000		250,000
Silver Button/Roughwater		25,500		25,500
Toboggan		5,000		5,000
Less accumulated amortization		(11,407)		(11,407)
Total	$	557,458	$	557,458

XML

9. Notes Payable: Schedule of Debt (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Details
Note payable, property	$ 45,450	$ 46,337
Note payable, property 2	175,000	175,000
Note payable, property	106,909	107,336
Notes Payable	327,359	328,673
Notes payable, short term	180,472	180,385
Notes payable, long term	$ 146,887	$ 148,288

XML

New Jersey Mining Company Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net loss	$ (279,527)	$ (268,356)
Adjustments to reconcile net loss to net cash (used) by operating activities:
Depreciation and amortization	48,919	14,526
Accretion of asset retirement obligation	1,323	288
Stock based compensation	27,458
Change in:
Joint venture receivables	(3,708)	(31,430)
Milling receivables	(109,885)
Other current assets	2,793	70
Accounts payable	57,457	16,754
Interest payable	6,417
Accrued payroll and related payroll expense	(7,325)	6,651
Net cash (used) by operating activities	(256,078)	(261,497)
Cash flows from investing activities:
Purchases of property, plant and equipment	(3,852)	(5,633)
Deposits on Equipment	(38,524)	(23,616)
Net cash used by investing activities	(42,376)	(29,249)
Cash flows from financing activities:
Sales of common stock and warrants, net of issuance costs		405,000
Principal payments on notes payable	(1,314)	(16,156)
Principal payments on capital lease		(8,555)
Principal payments on note and other payables, related party, net	(9,410)	(1,133)
Proceeds from non-controlling interest, net		8,554
Net cash provided (used) by financing activities	(10,724)	387,710
Net change in cash and cash equivalents	(309,178)	96,964
Cash and cash equivalents, beginning of period	336,525	636,127
Cash and cash equivalents, end of period	$ 27,347	$ 733,091

XML

5. Non-controlling Interest in Mill Jv

3 Months Ended

Mar. 31, 2015

Notes

5. Non-controlling Interest in Mill Jv

5.  Non-Controlling Interest in Mill JV

Crescent’s non-controlling interest in NJMJV represents its investment in the Joint Venture less any losses associated with their share. Its investment changed as follows from December 31, 2014 to March 31, 2015:

Balance December 31, 2014	$	3,197,113
Depreciation charges		(10,679)
Balance March 31 2014	$	3,186,433

XML

9. Notes Payable: Schedule of Debt (Tables)

3 Months Ended

Mar. 31, 2015

Tables/Schedules

Schedule of Debt

At March 31, 2015 and December 31, 2014 notes payable are as follows	March 31, 2015		December 31, 2014
Property with shop 36 month note payable, 4.91% interest rate payable monthly, remaining principal of note due in one payment at end of term, monthly payments of $474	$	45,450	$	46,337
Property, 15 month note payable, 5% interest per annum, collateralized by property, one remaining payment of $175,000		175,000		175,000
Property 120 month note payable, 11.0% interest rate payable monthly, remaining principal of note due in one payment at end of term, collateralized by property, monthly payments of $1,122		106,909		107,336
Total notes payable		327,359		328,673
Due within one year		180,472		180,385
Due after one year	$	146,887	$	148,288

XML

6. Earnings Per Share (Details)	3 Months Ended
	Mar. 31, 2015
Details
Warrants	21,200,000
Stock options	4,250,000

XML

1. The Company and Significant Accounting Policies: Principles of Consolidation (Policies)

3 Months Ended

Mar. 31, 2015

Policies

Principles of Consolidation

Principles of Consolidation

At March 31, 2015, the consolidated financial statements include the accounts of the Company, the accounts of our majority owned New Jersey Mill Joint Venture, and the accounts of GF&H as of July 14, 2014, an entity in which New Jersey Mining has two thirds of the ownership. Intercompany items and transactions between companies included in the consolidation are eliminated.