August 8, 2012 @ 4:59 am EST
Oracle Mining Hires General Manager for Oracle Ridge Copper Mine
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 8, 2012) - Oracle Mining Corp. ("Oracle Mining" or the "Corporation") (TSX:OMN)(OTCQX:OMCCF)(PINKSHEETS:OMCCF)(FRANKFURT:OMC) is pleased to announce that Mr. Ron Allum has joined the Oracle Ridge Copper Mine project as General Manager, effective immediately.
Mr. Allum holds a BSc in Mining Engineering and will be responsible for building the team required to construct the processing plant and conduct the re-start of the Oracle Ridge Copper Mine. He has 33 years of experience in mine development, operations and management, including 28 years at the San Manuel Mine in progressively more senior positions as General Mine Foreman, Construction Manager, Mine Manager and ultimately Vice President Operations, initially for Magma Copper Company and subsequently for BHP Copper NA.
"We are pleased to welcome Ron as leader of our operations team at Oracle Ridge," said Mr. Doug Nicholson, CEO of Oracle Mining. "With more than three decades of experience in underground mining, and an emphasis on safety, local hiring and a desire to give back to the community, Ron will be a great asset to Oracle Ridge as we move towards construction and ultimately production at the Oracle Ridge Copper Mine."
Mr. Allum most recently served as the Vice President, Operations for intermediate gold producer New Gold Inc. and was the previous General Manager for that company's New Afton Gold-Copper project located near Kamloops, British Columbia, Canada that reached commercial production at the end of July, 2012. The mine achieved approximately 85% local hiring from the region and won the provincial large underground mine safety award in 2010 and 2011 during ramp-up. The mine's Rescue Team was awarded the 2011 Overall Underground Mine Rescue Trophy in British Columbia at the 56th Annual Provincial Mine Rescue and First Aid Competition held to recognize health and safety best practices.
The San Manuel Mine was in operation from 1955 to 1999 and is located approximately 15 miles north of the Oracle Ridge Copper Mine. At its peak, it was one of the largest underground copper mines in the world. During his time at the San Manuel Mine, Mr. Allum led the Lower Kalamazoo mine expansion project that developed the deepest mining horizon at the Mine.
About Oracle Mining Corp.
Oracle Mining Corp. (TSX:OMN)(OTCQX:OMCCF)(PINKSHEETS: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 http://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.
Oracle Mining Corp.
Mr. Alex Langer
VP Capital Markets
604-689-9293 or Toll-free: +1-855-689-9282