8-K

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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


                DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED):


                                 AUGUST 23, 2000


                      SUNSHINE MINING AND REFINING COMPANY
             (Exact Name of Registrant as Specified in its Charter)


         STATE OF DELAWARE                  1-10012              75-2231378
    (State or Other Jurisdiction         (Commission           (IRS Employer
         of Incorporation)                 File No.)         Identification No.)

        877 W. MAIN STREET, SUITE 602, BOISE, IDAHO                83702
          (Address of Principal Executive Offices)               (Zip Code)

       REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (208) 345-0660


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ITEM 3. BANKRUPTCY OR RECEIVERSHIP

         On August 23, 2000 Sunshine Mining and Refining Company (SMRC) and
three of its subsidiaries (the Debtors") filed for protection under chapter 11
of title 11 of the United States Code (the "Bankruptcy Code") in the United
States Bankruptcy Court for the District of Delaware (the "Court"). Separate
cases and their cause numbers are: In Re: Sunshine Mining & Refining Company,
Case No. 00-03409, In Re: Sunshine Argentina, Inc., Case No. 00-03410, In Re:
Sunshine Precious Metals, Inc., Case No. 00-03412, and In Re: Sunshine
Exploration, Inc., Case No. 00-03411.

         SMRC and its affiliates included in their filing a proposed disclosure
statement and pre-negotiated plan of reorganization and debt restructuring (the
"Plan") which enjoys the support of over 70% of SMRC's bondholders. No receiver,
independent trustee or similar officer has been appointed for Registrant, and
the existing directors and officers continue in place for the respective
Debtors-in-possession but are subject to the supervision and orders of the
Bankruptcy Court.

         In connection with the submission of the Plan, the Court approved
SMRC's first day motions including joint administration of the Debtors' cases,
payment of certain pre-petition claims and continuation of specific pre-petition
practices essential to their continued business operations during the pendancy
of the cases. SMRC has also negotiated credit facilities to assist in funding
operations during the bankruptcy process.

         A copy of the Company's press release announcing these transactions is
attached hereto as Exhibit 99.1 and is incorporated herein by reference.

ITEM. 7.  FINANCIAL STATEMENTS AND EXHIBITS

      (a)   Financial statements of business acquired:  None

      (b)   Pro forma financial information:         None

      (c)   Exhibits:

              99.1 Press Release issued by SMRC on August 23, 2000



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                                   SIGNATURES

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

                                       SUNSHINE MINING AND REFINING COMPANY

Dated:  August 28, 2000                By: /s/ WILLIAM W. DAVIS
                                          ----------------------------
                                               William W. Davis
                                               Executive Vice President
                                               and Chief Financial Officer


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                                INDEX TO EXHIBITS




EXHIBIT
NUMBER              DESCRIPTION
- -------             -----------
                 
 99.1               Press Release issued by Sunshine Mining and Refining Company
                    on August 23, 2000

EX-99.1

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                                                                    EXHIBIT 99.1

                                  NEWS RELEASE

                      SUNSHINE MINING AND REFINING COMPANY

FOR IMMEDIATE RELEASE                                  CONTACT: WILLIAM W. DAVIS
                                                                  (214) 265-1377


               SUNSHINE COMMENCES REORGANIZATION UNDER CHAPTER 11


         BOISE, IDAHO, August 23, 2000 - Sunshine Mining and Refining Company
announced today that as part of an overall financial restructuring the Company
and three of its subsidiaries commenced reorganization cases under Chapter 11 of
the United States Bankruptcy Code in the United States Bankruptcy Court for the
District of Delaware.

         The Company and its affiliates have prepared a proposed plan of
reorganization cosponsored by four of its major bondholders holding more than
70% of the Company's outstanding indebtedness. The joint filing underscores the
Company's goal of completing its reorganization and emerging from Chapter 11 as
quickly as possible.

         The Company announced that it has arranged $5 million of debtor in
possession (DIP) financing from affiliates of the major bondholders cosponsoring
the reorganization, and has a commitment for $5 million of long term financing
after the Company emerges from bankruptcy, expected by year-end. The DIP
financing will be secured by substantially all the assets of the Company.

         The Company expects to continue business as usual and will be filing
motions with the court seeking approval of the continuation of all Company
compensation and benefit plans, and payment of funds due to suppliers of
essential goods and services, and otherwise conduct business as usual.

         The restructuring was necessitated by the Company's operating losses
and inability to refinance its outstanding obligations in the severely depressed
silver market which has continued for the past 12 years. The Company and its
major creditors recognized that the Company's silver assets are world class, and
that with a restructured debt-free balance sheet the ability of the Company to
put the Pirquitas Mine into production will be greatly enhanced.

                                     -more-



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                                                                          Page 2


         Under the plan as proposed all equity in the Company will be canceled;
however, the cosponsoring bondholders have agreed to cede approximately 4% of
the new equity to existing shareholders. In addition, approximately 6% of the
new equity is being reserved for other unsecured creditors, most of which is
ceded to the other creditors by the cosponsoring bondholders. The cosponsoring
bondholders will retain approximately 90% of the new equity to be issued under
the plan, and will name a majority of the directors of the reorganized company.
In addition, the cosponsoring bondholders will have an option to acquire the
Company's subsidiary, Sunshine Argentina, which owns the Pirquitas Mine in
Argentina. Such option may be exercised upon the occurrence of certain adverse
events to the Company or its subsidiaries.

         The Company previously issued 8.3 million warrants to purchase common
stock of the Company to the holders of its 8% Senior Exchangeable Notes and its
10% Senior Convertible Notes for extensions of maturity and for agreements to
exchange debt for equity in the reorganization. The warrants represent the right
to acquire one new share of the Company's common stock at its par value, and
have a cashless exercise feature.

         In a letter to employees advising of the filing, John Simko, Chairman
and Chief Executive Officer, and William Davis, Executive Vice President and
Chief Financial Officer, told employees to take pride in their accomplishments
in a very difficult market.

         In the letter, Simko and Davis pointed to deteriorating market
conditions for precious metals mining in general as contributing to the
difficulty of restructuring the debt. They pointed out that in 1996, on the
basis of a few drill holes in Pirquitas, the Company was able to raise $30
million to further explore the property. In the current market, with a completed
feasibility study demonstrating its excellent economics, the Company could not
access the money to refinance the debt.

                                      *****

         Sunshine Mining news releases and information can be accessed on the
Internet at: www.sunshinemining.com.

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