The Alaska Juneau Gold Mining Company (AJ) was incorporated in early 1897. Twenty-three, patented mining claims were purchased in Silver Bow Basin between Perseverance and Ebner mines and 400,000 shares of stock were issued at $10.00 each. Fred Worthen Bradley, a mining engineer and president of the Bunkerhill and Sullivan silver/lead mine in Idaho, purchased a large interest in the AJ holdings in 1900, and later became president. His brother, Philip, succeeded him when F.W. Bradley died in 1933.

The mine operated from 1897 to 1944, when it closed due to the war. During that time it operated for 14 years without profit. Ninety million tons of rock and ore were mined, yielding $80 million in gold by the time it closed. According to David Stone, in his book, Hard Rock Gold (1980), "no other company has ever mined ore so low in grade, so long, underground, and made it pay." In 1972, Alaska Electric Light and Power Co., and the City and Borough of Juneau, purchased all of the AJ properties and holdings. (From: Hard Rock Gold, Stone, D., 1980).