On January 21, 2005, Sutter Gold Mining Inc. entered into a lease agreement to acquire 105 acres of land immediately adjacent to the Company's properties in California, called the Eureka Property. The property is the site of two historic, highly successful mines known as the Old Eureka and the Central Eureka.
The Central Eureka originally opened as the Summit Mine in 1855, and operated continuously until 1875. The mine went idle from 1875-1895, but in 1893 was purchased by the Central Eureka Mining Company for $6,000. With the exception of one year, the mine went on to operate continuously and profitably from 1895 through 1942, when all gold mining operations were suspended by the federal government's War Production Board Order L-208. The mine reopened in 1946, and was in operation until 1958, when it finally shut down for good. At this time, the Central Eureka's main shaft had reached a depth of 4,500 feet, and along with its holdings at the Old Eureka, had produced 1,800,000 ounces of gold.
The Old Eureka opened in 1852, and in 1859 its primary owner, a man named Alvinza Hayward, consolidated the property with an adjoining claim. By 1867 the mine was operating a 56 stamp mill, and in 1869 the mine was purchased by the Amador Mining Company for $750,000. One investor and director on the AMC board was a man named Edward H. Green, who was the husband of one of the richest and most publicized women in the country, Hetty Green. The Greens lived for awhile in Jackson, but in 1881 after a relatively unsuccessful production period at the mine, Hetty banished her husband and closed the project. The mine then became idle for a period of 35 years, from 1881-1916, and only briefly resumed operations between 1916 and 1920. In 1924 the Central Eureka Mining Company purchased the holdings of the Old Eureka, and in 1930 major ore production shifted from the workings of the Central Eureka to those of the Old Eureka. Mining operations were suspended in 1942 by the federal government's wartime edict, but the project was able to resume operations again from 1946 until its closing in 1958. At its close, the Old Eureka mine had reached a depth of 4,500 feet.