(Dallas, TX. – October 12, 2011) StockGuru Shines its Spotlight on Oracle Mining Corp. (TSX-V: OMN)(OTCQX: OMCCF)(PINK SHEETS: OMCCF). The Company announced yesterday that the Corporation is now listed on the OTCQX and that its shares began trading effective yesterday under the symbol OMCCF on the OTCQX. The Company closed up almost thirteen percent on October 11, 2011, at $0.89944, trading in a fifty-two week range of $1.1759 – 0.783.
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.
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