Oracle Mining commissions SRK Consulting and KD Engineering to conduct the feasibility study
Kevin Francis is appointed Vice President, Technical Services of Oracle Mining. Vancouver, British Columbia, May 10, 2012 - Oracle Mining Corp. ("Oracle Mining" or the "Company") (TSX: OMN, OTCQX: OMCCF, FRANKFURT: OMC) is pleased to announce that the international mining consultancy SRK Consulting ("SRK") and KD Engineering ("KD") of Tucson (Arizona) are preparing a feasibility study and the corresponding technical planning for the Oracle Ridge copper mine project near Tucson, Arizona.
SRK will produce the feasibility study, and KD will carry out the technical design of the processing plant and the infrastructure of the mining operation at feasibility level and will also participate in the feasibility study.
Oracle Mining is pleased to announce the appointment of Kevin Francis, P. Geo, as Vice President of Technical Services. He will work with SRK and KD to oversee the feasibility study and technical design of the processing plant and mill operations for the Oracle Ridge copper mine project.
"Kevin Francis will primarily be responsible for leading and implementing a NI 43-101 compliant feasibility study for the Oracle Ridge copper mine project, which is included in 2. Half of the year 2012 should be completed, "said Doug Nicholson, CEO of Oracle Mining. "In addition, Kevin will be instrumental in driving shareholder value by managing technical issues as part of new project opportunities and evaluating them."
SRK is an independent, international consulting firm with more than 1.200 qualified employees in over 44 offices on six continents worldwide. The company offers targeted advice and tailor-made solutions, especially for customers in the field of natural resources and water resources. As part of mining projects, SRK provides assistance in exploration, feasibility studies, mine planning, production and mine development. SRK's 1.500 customers also include most of the world's best-known large and medium enterprises in the metals and industrial minerals industry, exploration companies, banks, oil exploration companies, construction companies, and government departments. Oracle Mining will rely on the experience of SRK's Colorado and Arizona experts in preparing the feasibility study for the Oracle Ridge copper mine project.
KD is a service company focusing on process engineering, planning, procurement and construction management. In collaboration with its partner METCON Research, the company also carries out high-quality analyzes and metallurgical tests. KD designs and builds processing plants that are primarily intended for use in mining and mineral processing. Over the past 25 years, KD has been involved in numerous projects ranging from small mineral processing plants to high-tech processing plants with a daily capacity of 50.000 tons
ranged.
Mr. Francis has 25 years of experience integrating computer applications in geology and other mining disciplines to optimize resource estimates and target / actual comparisons.
Prior to joining Oracle Mining Corp., Kevin was Vice President of Resources at NovaGold Resources. In this role, he was responsible for all aspects of resource estimation, co-ordinated the activities required by the resource estimate, oversaw the experts involved in the mining projects, was involved in corporate development activities and in the creation of internal audit standards. Before that, he worked as chief geologist in consulting and project management at AMEC Americas. He has extensive knowledge of mining operations. Mr. Francis has earned his Bachelor's and Master's Degree in Geology from the University of Colorado. Kevin is a Qualified Person under NI 43-101.
About Oracle Mining Corp.
Oracle Mining Corp. (TSX: OMN, OTCQX: OMCCF, FRANKFURT: OMC) is a Vancouver (Canada) based company that owns and operates Oracle Ridge Mining LLC and associated copper mine 24 miles north of Tucson, Arizona. Oracle Mining has little long-term debt and is managed by an experienced team of mining professionals with extensive operational and financial experience. The aim of the company is to find promising projects whose value has not yet been realized, and thus to achieve excellent returns for its shareholders.
Disclaimer with respect to forward-looking statements
This document may contain "forward-looking statements" within the meaning of Canadian securities laws. These forward-looking statements are effective as of the date of this document and are believed to be Oracle Mining Corp. (referred to herein as the "Company") has no intention and is under no obligation to update these forward-looking statements. Forward-looking statements relate to events or performance in the future and reflect management's expectations or opinions about future events. These include statements on the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the receipt of permits required for the development and operation of the project, the timing and quantity of estimated future production, production and investment costs, project financing, successful mining operations, commodity prices, environmental risks, unexpected reorganization expenses, disputes over ownership and liability claims, and limited insurance cover. In certain cases, forward-looking statements may involve the use of terms such as "plan," "expects," "does not expect," "anticipates," "budgeted," "estimates," "forecasts," "intends," "does not intend," or "believes" to recognize or alterations of such words and phrases or statements that "could", "become" or "become", or their negative form or similar terms, as certain actions, events or results occur. Forward-looking statements are typically subject to known and unknown risks, uncertainties and other factors that could cause the Company's actual results, performance or achievements to differ materially from the future results, performance or achievements identified or implied by the forward-looking statements , Such factors include, but are not limited to, the actual results of current exploration activities; Changes in project parameters due to ongoing planning;
future resource prices; possible changes in ore reserves, content or recovery rates; Accidents, labor disputes and other risks of the mining industry; Delays in obtaining regulatory approvals or financing, or in carrying out development or construction work; as well as those factors from time to time in the company's annual report for the 31. December 2011 ending fiscal year and published on SEDAR at www.sedar.com. The Company has endeavored to identify important factors that could cause actual events or results to differ materially from those contained in the forward-looking statements. However, other factors may cause the events or results to not be as expected, estimated or intended. There can be no assurance that any forward-looking statements will prove to be accurate. Actual results and future events may differ materially from such statements. Readers are cautioned that forward-looking statements are not reliable.
For further information please contact:
Alex Langer, VP Capital Markets
Tel: 604-689-9293
toll-free phone: + 1-855-689-9282
or
Jason Mercier, VP Corporate Secretary
Tel: 604-689-9261
E-mail: [email protected]
www.oracleminingcorp.com
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