Oracle Mining Commences Trading on OTCQX
October 11 2011 - 6:00AM
Marketwired
Oracle Mining Corp. ("Oracle Mining" or the "Corporation") (TSX
VENTURE:OMN)(OTCQX:OMCCF)(PINK SHEETS:OMCCF) is pleased to announce
that the Corporation is now listed on the OTCQX and that its shares
begin trading effective today under the symbol OMCCF on the
OTCQX.
The Corporation's flagship project is the Oracle Ridge Copper
Mine 15 miles northeast of Tucson, Arizona and is currently
undergoing pre-production permitting, confirmation surface drilling
of the historic resources as well as design and engineering for a
new 2,000 tons-per-day production facility. The underground mine
was in operation from 1991 to 1996 and has approximately 11 miles
of underground development access.
"We believe joining the OTCQX will help us provide U.S.
investors with superior information disclosure and look forward to
raising the Oracle Mining profile with U.S. investors interested in
U.S. copper developments," said Alex Langer, Oracle Mining's VP,
Corporate Development.
The Corporation undertook the OTCQX listing as a means to
provide alternative access to U.S. investors in Oracle Mining Corp.
in addition to the Corporation's listing on the TSX Venture
Exchange. Investors will be able to find the Corporation's current
financial disclosures and media releases on www.OTCQX.com and
www.OTCMarkets.com as well as on the Corporation website
www.oracleminingcorp.com and on www.SEDAR.com.
The U.S. capital market is significantly larger than in Canada
and adding an U.S listing enables the Corporation to share its
compelling story with a broader investor audience. The OTCQX is the
top level of three OTC Market tiers and is recognized as a
quality-controlled marketplace for many junior mining companies. In
2010, securities on the OTC platform traded more than $144 billion
in securities.
About Oracle Mining Corp.
Oracle Mining Corp. (TSX VENTURE:OMN)(OTCQX:OMCCF)(PINK
SHEETS:OMCCF) is a Vancouver, Canada-based corporation with a focus
on uncovering overlooked deep-value projects to achieve superior
shareholder returns. The Corporation is the sole owner and operator
of Oracle Ridge Mining LLC and copper mine located 15 miles
northeast of Tucson, Arizona. Oracle Mining has cash on hand of
approximately $12 million, 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 timing
and amount of estimated future production, costs of production,
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, risks related to 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 interim and annual
financial statements and management's discussion and analysis of
those statements, all of which are 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.
Neither the 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.
Contacts: Oracle Mining Corp. Mr. Alex Langer Corporate
Communications 604-689-9293 Oracle Mining Corp. Mr. Jason Mercier
Corporate Secretary
604-689-9261info@oracleminingcorp.comwww.oracleminingcorp.com
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