Orefinders Provides an Update on its Mirado Mine Stockpile Project - Over 26,000 Tonnes Crushed

TORONTO, Oct. 13, 2016 /CNW/ - Orefinders Resources Inc. ("Orefinders" or the "Company") (TSX.V: ORX) is pleased to announce that it has completed its crushing program on its 100% owned Mirado Mine Stockpile project.  

Orefinders has completed the crushing phase of the project with over 26,000 tonnes of resource that will be sent to the Westwood Mill. Of this 26,000 tonnes of crushed resource approximately 8,000 tonnes has already been delivered to the Mill. The Company is shipping over twenty truck loads per day from the Mirado and expects to have all of the resources at the Westwood towards the end of October. 

The milling of the resource at the Westwood Mill is scheduled to begin the first week of November, and will be processed in a single continuous batch which is expected to take two weeks.

About Phase One of the Mirado Stockpile Project

Phase One is a resource that was blasted and mined from the Mirado' open pit mine during its production during in the 1980's. Orefinders has since completed a resource calculation on the Stockpiles which delineated an inferred resource of 20,742 tonnes at an average grade of 4.41 grams per tonne for a total of 2,939 contained gold ounces as disclosed in the Technical Report filed on Sedar on December 13, 2013.    

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Orefinders' assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Orefinders. Additional information identifying risks and uncertainties is contained in filings by Orefinders with Canadian securities regulators, which filings are available under Orefinders' profile at www.sedar.com.

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SOURCE Orefinders Resources Inc.