Tunnel Boring at Stillwater’s East Boulder Project

Stillwater Mining Co. (SMC) is engaged in developing, extracting, processing and refining palladium, platinum and associated metals (PGM)from the J-M Reef. This geological formation is located in Stillwater, Sweet Grass and Park counties in southern Montana. Associated byproduct metals include rhodium, gold, silver, nickel and copper. SMC’s current mining operations are near Nye, MT. The company is currently developing a second underground palladium and platinum mine, the East Boulder project, about 21 km (13 miles) west of the Nye operations. A 5,650-m (18,550-ft) tunnel is required to gain access to the ore-bearing horizon (J-M Reef).