Item 3.02 Unregistered Sales of Equity Securities.

On April 20, 2018, Hecla Silver Valley, Inc. purchased 3,846,154 shares and 1,923,077 warrants of New Jersey Mining Company (the “Company”), totaling US $500,000 of gross proceeds to the Company.  The shares and warrants were sold upon the same terms as the Company’s most recent private placement where units were sold at a price of US $0.13 per unit.   Each unit consisted of one share of common stock and one-half common stock purchase warrant exercisable at a price of US $0.22 for a period of 24 months. No commissions will be paid on the sale.  

The above-described sale and issuance of the units, common shares and warrants (and the issuance of shares of common stock upon exercise thereof) were not registered under the Securities Act of 1933, as amended (“Securities Act”), or the securities laws of any state; are subject to resale restrictions and may not be offered or sold in the United States absent registration under the Securities Act. The foregoing sale of securities has been determined to be exempt from registration in reliance on Section 4(a)(2) of the Securities Act, as transactions by an issuer not involving a public offering in which the investor is accredited and has acquired the securities for investment purposes only and not with a view to or for sale in connection with any distribution thereof.

On March 30, 2018, the Company closed a de minimis private placement consisting of a total of 5,012,423 units sold at a price of US $0.13 per unit, which included 5,012,423 shares, 2,506,212 warrants and gross proceeds to the Company of US $607,571 after commissions. Each unit consisted of one share of common stock and one-half common stock purchase warrant exercisable at a price of US $0.22 for a period of 24 months.

The above-described sale and issuance of the units, common shares and warrants (and the issuance of shares of common stock upon exercise thereof) were not registered under the Securities Act of 1933, as amended (“Securities Act”), or the securities laws of any state; are subject to resale restrictions and may not be offered or sold in the United States absent registration under the Securities Act. The foregoing sale of securities has been determined to be exempt from registration in reliance on the safe harbor provided by Regulation D, 506(b) and Section 4(a)(2) of the Securities Act, as transactions by an issuer not involving a public offering in which the investors are accredited and have acquired the securities for investment purposes only and not with a view to or for sale in connection with any distribution thereof. The securities constituted less than 5% of the number of shares outstanding and no report needed to be filed.