Oracle Mining Announces Management Change
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/20/12 -- Oracle Mining Corp. ("Oracle Mining" or the "Corporation") (TSX: OMN)(OTCQX: OMCCF)(FRANKFURT: OMC) is pleased to announce Alan Edwards has expanded his role with the Corporation as Chief Executive Officer, effective immediately and will continue as a director of the Corporation.
"Mr. Edwards's experience in mine development and operations, and his extensive knowledge of copper projects as well as the Arizona operations environment in particular, bring the required leadership to Oracle Mining as we complete our Feasibility Study and NI 43-101 compliant technical report leading to the plant construction and re-start of the Oracle Ridge Copper Mine," said Mr. Paul Eagland, Oracle Mining's Executive Chairman.
Mr. Edwards has served Oracle Mining as a director since October 2011 and has also served as the Chairman of the Compensation Committee. He has three decades of diverse mining industry experience, including leadership roles at a number of world class mines. Included in his extensive career accomplishments are operations roles at P.T. Freeport Indonesia's Grasberg Mine as Vice President of Surface Mines and then as Senior Vice President, Operations; and, he was previously Executive Vice President and Chief Operating Officer of Apex Silver Mines Corporation, where he was responsible for the engineering, construction and commissioning of the San Cristobal mine in Bolivia.
He served as CEO and President of Copper One Inc. from December 2009 to June 2011 and as CEO and President of Frontera Copper Corp. from September 2007 through February 2009. He is the former Vice President of Technical Services and Project Development and former Vice President of Operations of Kinross Gold Corporation. During the 1980s to mid-1990s, he served in various positions at Phelps Dodge Corporation, including General Manager of Operations at Chino Mines Company and Mine Superintendent at Phelps Dodge Morenci Inc.
Mr. Edwards holds a BSc in Mining Engineering and an MBA in Finance from the University of Arizona.
The Corporation also announces that Mr. Douglas Nicholson has departed as the Corporation's CEO.
"Mr. Nicholson has been a valuable member of our team and now wishes to move onto other projects in which he has interest," said Mr. Eagland. "We wish Mr. Nicholson well in his future endeavors."
About Oracle Mining Corp.
Oracle Mining Corp. (TSX: OMN)(OTCQX: OMCCF)(FRANKFURT: OMC) is a Vancouver, Canada-based corporation that is the sole owner and operator of Oracle Ridge Mining LLC and the Oracle Ridge Copper Mine located 24 km north of Tucson, Arizona. Oracle Mining has minimal long-term debt and is managed by an experienced team of mining professionals with extensive operating and financial experience.
Forward-looking Statement Disclaimer
This document may contain "forward-looking statements" within the meaning of Canadian securities legislation. These forward-looking statements are made as of the date of this document and Oracle Mining Corp. (hereinafter referred to as the "Corporation") does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect management of the Corporation's expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the receipt of permits to develop and operate the project, the timing and amount of estimated future production, costs of production, access to capital, capital expenditures, success of mining operations, commodity prices, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology.
By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in the Corporation's annual information form for the year ended December 31, 2011 filed and available for review on SEDAR at www.sedar.com. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Contacts:
Oracle Mining Corp.
Mr. Alex Langer
VP Capital Markets
604-689-9293 or Toll-free: +1-855-689-9282
Oracle Mining Corp.
Mr. Jason Mercier
VP Corporate Secretary
604-689-9261
info@oracleminingcorp.com
www.oracleminingcorp.com
