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Prospectus Supplement No. 1 Filed Pursuant to Rule 424(b)(3)
to Prospectus dated April 25, 1997 Registration No. 33-98876
SUNSHINE MINING AND REFINING COMPANY
This Prospectus Supplement supplements the information contained in the
Prospectus of Sunshine Mining and Refining Company (the "Company"), dated April
25, 1997. This Prospectus Supplement relates to the reoffer and resale by the
Selling Stockholders identified in the Prospectus of up to an aggregate of
14,332,372 shares of the Company's Common Stock that are issuable upon the
exercise of certain warrants to purchase Common Stock having an exercise price
of $1.38 per share (the "Warrants").
The Company has implemented a 1 for 8 reverse stock split (the "Reverse
Stock Split"), effective August 6, 1999. The Reverse Stock Split was approved by
the Company's stockholders at the annual meeting on June 10, 1997.
The terms of the Warrants that have been changed due to the Reverse
Stock Split are summarized below. The summary includes the terms of the Warrants
that have been changed as they read before the change and as they read now. The
only terms of the Warrants that have been changed are to the terms discussed
below.
SUMMARY OF CHANGE TO WARRANTS
Prior to Change
Each Warrant may be exercised to purchase one (1) share of Common Stock at an
exercise price of $1.38 per share at any time through May 22, 2001.
Current Provision
Each Warrant may be exercised to purchase one/eight (1/8) of a share of Common
Stock at an exercise price of $1.38 per share at any time through May 22, 2001.
The date of this Prospectus Supplement is August 17, 1999.
