Newsletter

Alleghany (cal.) Jun. 20, the recent rich shipment of ore, amounting to 1200 pounds, pulled from Tightner mine Yielded the owners $75,000 in fine gold and 400 ounces of concentrates valued at $12 per ounce, making a total of $79,000. This ore was extracted in the course of developing the main vein in the lower adit, and was not taken out with the purpose of showing the richness of the [...]

Up to 1872, only a little e placer mining by a man named Britton had been done in the section now known as Deadwood, then Kline, who was also working placer, discovered the first quartz ledge, and named it Bismark. He immediately turned his whole attention to quartz, working with good success for three or four years. He next discovered the Montezuma, and still owns both mines. The latter joins [...]

Even the wild rush to California in ’49 hardly equaled that to Caribou ten years later. Surely there has never been such a frenzied scramble for gold as that which filled the harbor of Victoria, Vancouver Island, with a navy of antiquated, leaky craft, laden to the scuppers with a horde of dauntless adventurers, burning to reach the precious placers of the Upper Frazer. These upper reaches are wild enough [...]

ALLEGHANY- The last land auction to take place in the Wild West was over a century ago, when landowners settled their disputes with gunfights. The final chapter of this California epic came to an end Saturday, when the Federal Government sold 17 parcels of land to the public. Thirty-one bidders ended up spending a total of $239,800- all in cash and four times the minimum bid amounts for the properties. [...]

PROSPECTUS OF THE GOLD CROWN MINING CORPORATION ALLEGHANY, CALIFORNIA LOCATION The Gold Crown Mine is located in the Alleghany Mining District, Sierra County, California, at an elevation of approximately 4,300 feet. It is about one fourth of a mile from the town of Alleghany, and thirty-nine miles North-East of Nevada City, with which, connection is made by highway, and two mountain roads, both of which pass directly through the Gold [...]

For the past six months my letters to you have ended in a pile of unsent drafts on my desk. Company needs or circumstances have interfered with their completion. Both good and troubling events have happened since June. Instead of detailing the past six months, I will touch upon the many topics surrounding our company. The shareholder meeting in June was a success. Everyone pitched in and made the day [...]

Dear Shareholders, The following press release was transmitted on Business Wire New Service last week. One again, we felt the need to shake up our plans and acted accordingly. Original Sixteen to One Mine, Inc. Buys Time for Technical Exploration Original Sixteen to One Mine, Inc. (PCX:OAU), announces today a restructuring of its plan of operations and workforce. The decision surprised none of the miners, who, like many in the [...]

Gold production is measured in fine troy ounces. During the first nine months of 1998, production from the mine totaled 2,810.35 troy ounces as follows: MINE MILL TOTAL January 402.98201.52604.50 February 60.5446.79107.33 March 36.683 02.06338.74 Total: First Qtr 500.20 550.371,050.57 April 97.5931.81129.40 May 221.367.63228.99 June 334.7329.50364.23 Total: Second Qtr 653.6868.94722.62 July 186.06113.51299.57 August 658.4141.46699.87 September 37.7 20.0037.72 Total:Third Qtr882.19 154.971,037.16 During the first nine months of 1997 production totaled 5,068.49ozt. [...]

Tracking the price of shares of OAU is a lesser concern to me than keeping the mine open and a cadre of hardrock miners breaking quartz in our productive headings. While we continue to struggle throughout the year, the crew has mined gold from five headings: the Rainbow; the 26-105 Stope*, the 400 Foot Level, the 250 Foot Level, the 1500N Footwall Drift. Sadly, none of these areas yielded a [...]

This quarter (January-March 1998) the crew and equipment have been working at capacity, moving a vast amount of rock. Our active headings have become even more aggressive since completing the installation of a new hoist in the `83 winze. Production below the 2200 foot level, accessed by the '83 winze, more than doubled. Our two headings north of the main winze remain active, where we tenaciously pursue an attractive vein. [...]

When Homestake Mining Co. axed its Lower Lake mining operation at McLaughlin Mine in 1996, it spelled the end of 200 jobs and an 11-year reign as California's most productive gold mine. It was a place where, during its heyday, more than 300 workers churned out 250,000 ounces of the precious metal annually. But in 1996, it only managed to mine 170,000 ounces. Now, the 105 remaining employees spend their [...]

All of us at the mine are feeling upbeat as we advance the three primary headings off the 2283 winze. You should feel good as well for the financial pressure that was building has been diffused. Four hundred people attended this year's annual meeting on June 14. A total of 2,175,952 shares were represented by proxy or in person. The incumbent directors, (Charles Brown, Leland Erdahl, Sandor Holly, Richard Sorlien [...]

Dear Shareholders, Before I summarize the 1996 audited financials, a year where the company reported its first net loss in five years, you should learn about the April fool's day gold fine and place its significance in perspective. The December 3, 1996 newsletter (Number #35) included an underground mine map with designated mining targets. The map identifies the virgin and recently developed large block of ground above the 2600 foot [...]

Dear Shareholders, Heavy warm rains fell on a sizable snow pack in the northern Sierra nevada mountains causing havoc thoughout California. The roads and bridges and the river flood plains in Sierra County were seriously affected; however, the mine property sustained only minor damage due to the storms. There are two primary items you should know about and of course a quick update on some of our mining activities. ONE [...]

Dear Shareholders, Much has happened since I last wrote to you in May of this year with the 1995 Annual Report. There's a lot to tell, so I'll start right in. Shareholders Meeting The incumbent board of directors was re-elelcted in June. The employee stock incentive plan was also ratified. The purpose of the plan is to attract and retain the best possible personnel and to provide additional incentive to [...]

Dear Shareholders, Well, here it is, the $.05 per share special dividend. For some of you, the small monetary value may seem less than the paper on which it is written. Keep the check and add it to your collectibles. For shareholders cashing the check who also are keeping a file on Sixteen to One, I offer the following. The Company will return your canceled check to you. The charge [...]

Dear Shareholders, The audited financial statements (10K) for 1995 were filed this week. The Company has completed its fourth consecutive profitable year. Revenue was $2,655,575 amounting to a pre-tax profit of $953,124. After tax earnings per share are $732,124 or $0.21 per share. Our assets exceed four million dollars including $2,228,192 of gold in the bank. We started 1996 in our strongest financial position since World War II. The mine [...]

This declaration marks a great event for us. We took back operation of the mine from our lessees in 1991, and have shown a profit on each succeeding year. Even more importantly, we have invested those profits in the development of the mine, specifically in the 2483 winze project, so we now can feel comfortable allocating some of our working capital to you, the owners. In 1974, when I first [...]

Dear Shareholders, The 85th annual shareholder's meeting was called to order in the company's refurbished old theater in Alleghany. Almost 200 people attended, one third participating for the first time. After re-electing the existing board of directors, we discussed Company affairs for 1½ hours before adjourning to the mine. In addition to offering the underground tours, we melted and poured gold bars and treated everyone who went underground to the [...]

Dear Shareholders, Thank you for your strong response at the annual shareholders' meeting. Of the 3,364,241 shares outstanding, we received in proxy or at the meeting 2,951,790. The motions submitted for consideration passed, and the directors were elected for another year. The most interesting events were the in-depth discussion about finances, growth and development and the tour of the mine, mill and gold display. We poured gold bars twice, which [...]

Dear Shareholders, What were you thinking when you opened last month's mail from the Sixteen to One? Hardly the newsletter you usually receive. That's what happens when great news meets caution and conservative public information is issued in compliance with securities law. Now that the rush of mining almost one million dollars in a single day, suspending trading on the Pacific Stock Exchange to protect you from making an uninformed [...]

Dear Shareholders, Apologies are due - it has been far too long since the last newsletter. Those of you who have been with us a while know that no news sometimes means we're too busy mining to write, and that's the case here. After doing our duty by the mine with three months of clearing, mucking and drilling, the mine did its duty to us and rewarded us with a [...]