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SUNSHINE MINING COMPANY ANNOUNCES AGREEMENT

 SUNSHINE MINING COMPANY ANNOUNCES AGREEMENT
 DALLAS, Sept. 10 /PRNewswire/ -- Sunshine Mining Company (NYSE: SSC)


announced today that it had reached an agreement to sell the shares of its wholly-owned Canadian oil and gas production subsidiaries to Chauvco Resources. Total consideration to be received by Sunshine amounts to approximately $15 million, and includes approximately $5.6 million of working capital of the subsidiaries. The sale, which will result in no gain or loss to Sunshine, is expected to close by the end of September.
 The sale of the Canadian subsidiaries is one of the last steps in Sunshine's downsizing and debt restructuring commenced in 1990. The confirmation of the prepackaged bankruptcy plan of Sunshine's precious metals subsidiary, Sunshine Precious Metals, by the Bankruptcy Court on Aug. 26, 1992, along with other debt restructuring steps Sunshine has taken, have reduced Sunshine's annual cash debt service requirements to $360,000 from a level of approximately $23 million.
 Following the closing of this sale, Sunshine will have cash and liquid assets in excess of $20 million. Coupled with the substantial elimination of cash debt service requirements, Sunshine has the ability to weather a continuation of the currently existing depressed silver market for several years.
 -0- 9/10/92
 /CONTACT: William W. Davis of Sunshine Mining, 214-855-8706/
 (SSC) CO: Sunshine Mining Company; Chauvco Resources ST: Texas IN: MNG SU:


GK -- NY070 -- 8090 09/10/92 14:14 EDT
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Publication:PR Newswire
Date:Sep 10, 1992
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