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SUNSHINE MINING COMPANY ANNOUNCES CONFIRMATION OF BANKRUPTCY PLAN

SUNSHINE MINING COMPANY ANNOUNCES CONFIRMATION OF BANKRUPTCY PLAN
 DALLAS, Aug. 27 /PRNewswire/ -- Sunshine Mining Company (NYSE: SSC) and its subsidiary, Sunshine Precious Metals ("SPMI") announced that on Aug. 26 the SPMI Bankruptcy Plan had been confirmed by the United States Bankruptcy Court for the District of Idaho. Confirmation was pursuant to approval by bondholders in voting which expired on Aug. 21. Bondholders voting in favor of the plan totaled approximately 70 percent of those voting. Sunshine and SPMI will now act expeditiously to consummate the plan. Upon consummation, all bondholders will receive for each $1,000 old silver indexed bond a new $800 principal amount silver indexed bond and $200 in market value of Sunshine common stock. The new silver indexed bonds will have interest and principle payable in cash or in shares of Sunshine common stock.
 The plan accomplishes Sunshine's objective of substantially eliminating the company's cash debt service payments during the current extended period of low silver prices. Such costs totaled approximately $23 million in 1990 and will be reduced to approximately $360,000 in 1993. As a result, Sunshine will have the resources available for several years to continue operations even if silver prices continue at current depressed levels.
 Sunshine continues to believe that silver prices will recover to levels that will allow profitable operations.
 -0- 8/27/92
 /CONTACT: William W. Davis of Sunshine Mining Company, 800-542-6161/
 (SSC) CO: Sunshine Mining Company ST: Texas IN: MNG SU: BCY


TM -- NY073 -- 4124 08/27/92 16:49 EDT
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Publication:PR Newswire
Date:Aug 27, 1992
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