The Silver Prince Mine was opened in 1874 by T.N. Alexander, W. Cole, E. G. Peck, and C.C. Bean. In 1879, the mine was purchased by Mrs. Jessie Benton Fremont for $40,000. The following year the operation expanded by acquiring the adjoining Black Warrior Mine to the north as well as the Tuscumbia Mine. By 1882, the Silver Prince Mine was conveyed, if only in name, to Abram S. Hewitt, as security for a $25,000 loan. Hewitt was a notable figure with deep roots in the iron industry of the Highlands.
By 1883, $40,000 of silver was extracted and the mine was working from two parallel veins. In 1885, the ore was reportedly depleted and consequently the mine remained relatively inactive until reopening in 1910 by F. W. Woods. From this time until 1915, 600,000 ounces of silver were produced.