Chester Mining Acquires the Conjecture Mine.

Business Editors

COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Nov. 21, 2003

Chester Mining Company (OTC:CHMN) is pleased to announce that it has acquired the Conjecture Mine in the Lakeview Mining District of northern Idaho.

The Lakeview District mines are located within the same Belt metamorphic rocks (the Wallace, St. Regis, and Revett Formations) and have similar mineralization as the nearby Coeur d'Alene District. However, exploration at the Lakeview District has been minimal compared to the Coeur District, and many geologists believe that mineralization at Lakeview, like Coeur, may grow much richer at depth.

The Conjecture Mine has yielded high-grade silver from shallow workings during sporadic operations dating to the late 19th century. In the early 1960s, Federal Resources of Salt Lake City invested $3 million in underground development, completing a 2,000-foot, concrete-lined, three-compartment vertical shaft along with nearly 12,000 feet of drifts, cross-cuts and raises. The Conjecture is the only the Lakeview District mine that has been developed to any significant depth, through the Wallace Formation and into the more favorable St. Regis Formation.

High-grade silver mineralization extends laterally for two miles and vertically for over 3,000 feet within the Conjecture Mine. Federal Resources, with the aid of an independent report prepared by Minerals Management, defined Conjecture mineral reserves of 706,000 tons grading 11.8 ounces per ton (oz/t) silver, 0.02 oz/t gold, three percent zinc and one percent lead. Company geologists are reviewing these figures and will reclassify mineralization estimates in recognition of the stricter qualification standards of today.

Chester Mining Company is a unique mineral exploration company with a strategy of acquiring properties in proven mining districts and leasing them out to generate an income stream while retaining speculative leverage to exploration success through royalty interests. Chester has approximately 2.3 million shares outstanding, positive working capital and no debt. Chester stock trades on the OTC Market under the symbol "CHMN".

Certain statements contained in this press release are "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on beliefs of management as well as assumptions made by and information currently available to management. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected results.