SOURCE: Oriental Minerals Inc.

October 09, 2007 08:30 ET

Drilling Results Expand Tungsten-Molybdenum Deposit at Sangdong

High Grade Copper and Silver Also Identified

VANCOUVER, BC--(Marketwire - October 9, 2007) - Oriental Minerals Inc. (TSX-V: OTL) is pleased to announce a further series of results from holes 9, 13, 14, 15 and 16 from the Phase 2 drill program at the Sangdong tungsten-molybdenum project in South Korea. This series of holes has returned the thickest and best grade intersections to date. The holes now confirm a deposit covering an area 1,200 metres by 600 metres, which is still open in three directions.

Highlights include:
SD-13, 194 metres @ 0.18% WO3, including:
  *77 metres @ 0.21% WO3 (211m - 288m)
  *19 metres @ 0.38% WO3 (295m - 314m)
  *25 metres @ 0.25% WO3 (336m - 361m)
SD-14, 183 metres @ 0.15% WO3
SD-09, 147 metres @ 0.09% WO3 including:
  *12 metres of 0.52% WO3 (27m - 39m)
  *26 metres of 0.66% Cu and 59 g/t Ag (58m-64m)

The Company currently has 7 drill rigs fully operational on site -- results will be announced as they come in (the current status of the Sangdong drill program is listed below). Drilling to date at Sangdong now covers a 1200 by 600 metre area, on 100 by 100 or 200 x 100 metre drill spacing. Significant widths and grades of skarn-hosted disseminated tungsten-molybdenum mineralization have been intersected in all drill holes to date. Drilling continues to suggest that grades increase to the north of the drilled area, with mineralization remaining open to the east toward the historic Sangdong East deposit, as well as to the north and west.

Drill Hole SD-13 averages 194 metres (211-405m) @ 0.18% WO3 and 0.05% MoS2. Results from hole SD-13 are tabulated below:


---------------------------------------------------------------------------
Intersection  Depth     WO3    MoS2     Au      Bi        Formation
 Thickness              (%)     (%)    (g/t)    (%)
---------------------------------------------------------------------------
77 metres   211-288m    0.21    0.04    0.15    0.06  Skarn (Myobong Slate)
---------------------------------------------------------------------------
19 metres   295-314m    0.38    0.05    0.16    0.04  Skarn (Myobong Slate)
---------------------------------------------------------------------------
16 metres   314-330m    0.04    0.11    0.01    0.01  Skarn (Myobong Slate)
---------------------------------------------------------------------------
25 metres   336-361m    0.25    0.08    0.04    0.04  Skarn (Myobong Slate)
-----------------------------------------------------------------------
 3 metres   369-372m    0.01    0.10    0.01  < 0.01  Skarn (Myobong Slate)
---------------------------------------------------------------------------
11 metres   374-385m    0.09    0.04    0.01  < 0.01  Skarn (Myobong Slate)
---------------------------------------------------------------------------
 9 metres   388-397m    0.22    0.02    0.04  < 0.01  Skarn (Myobong Slate)
---------------------------------------------------------------------------
 3 metres   402-405m    0.17    0.03    0.02    0.01  Skarn (Myobong Slate)
---------------------------------------------------------------------------
83 metres   411-494m  < 0.01    0.10  < 0.01   < 0.01 Quartzite (Jangsan
                                                       Quartzite)
---------------------------------------------------------------------------

SD-13 intersected the following lithological units in sequence:

  0 - 265m. Pungchon Limestone.
  265 - 269m. Basal sedimentary breccia
  269 - 414m. Quartz-scheelite vein stockworks in skarn altered
   Myobong Slate.
  414 - 500m. Jangsan Quartzite.

Drill Hole SD-09 averages 147 metres (248-395m) @ 0.09% WO3 and 0.04% MoS2. Results from hole SD-09 are tabulated below:

---------------------------------------------------------------------------
Intersection  Depth     WO3    MoS2     Au      Bi        Formation
 Thickness              (%)     (%)    (g/t)    (%)
---------------------------------------------------------------------------
31 metres    248-279m   0.10    0.05    0.08    0.04  Skarn (Myobong Slate)
--------------------------------------------------------------------------
13 metres    291-304m   0.23    0.05    0.20    0.04  Skarn (Myobong Slate)
--------------------------------------------------------------------------
 2 metres    307-309m   0.23  < 0.01    0.26    0.03  Skarn (Myobong Slate)
--------------------------------------------------------------------------
 2 metres    320-322m   0.01    0.27  < 0.01  < 0.01  Skarn (Myobong Slate)
--------------------------------------------------------------------------
18 metres    331-349m   0.13    0.02    0.05    0.01  Skarn (Myobong Slate)
--------------------------------------------------------------------------
 9 metres    361-370m   0.19    0.05    0.05    0.01  Skarn (Myobong Slate)
--------------------------------------------------------------------------
12 metres    372-384m   0.09    0.12    0.03    0.01  Skarn (Myobong Slate)
--------------------------------------------------------------------------
 5 metres    390-395m   0.10    0.08    0.04    0.01  Skarn (Myobong Slate)
--------------------------------------------------------------------------

SD-09 intersected the following lithological units in sequence:
  0 - 253m. Pungchon Limestone.
  253 - 260m. Basal sedimentary breccia.
  260 - 412. Quartz-scheelite vein stockworks in skarn altered
   Myobong Slate.
  412 - 602m. Jangsan Quartzite.

Drill Hole SD-14 averages 183 metres (0-183m) @ 0.15% WO3 and 0.02% MoS2. Results from hole SD-14 are tabulated below:

---------------------------------------------------------------------------
Intersection  Depth     WO3    MoS2     Au      Bi        Formation
 Thickness              (%)     (%)    (g/t)    (%)
---------------------------------------------------------------------------
 6 metres      0-6m    0.20    0.02     0.06    0.03      Colluvium
---------------------------------------------------------------------------
46 metres    13-59m    0.20    0.04     0.07    0.03  Skarn (Myobong Slate)
-------------------------------------------------------------------------
 3 metres    74-77m    0.01    0.08   < 0.01  < 0.01  Skarn (Myobong Slate)
---------------------------------------------------------------------------
 2 metres    78-80m    0.16    0.01     0.01    0.02  Skarn (Myobong Slate)
---------------------------------------------------------------------------
23 metres   84-107m    0.34    0.02     0.12    0.03  Skarn (Myobong Slate)
---------------------------------------------------------------------------
16 metres  139-155m    0.30    0.02     0.06    0.04  Skarn (Myobong Slate)
---------------------------------------------------------------------------
12 metres  171-183m    0.15    0.02     0.05    0.02  Skarn (Myobong Slate)
---------------------------------------------------------------------------
 4 metres  206-210m    0.02    0.16     0.04    0.02  Quartzite (Jangsan
                                                       Quartzite)
---------------------------------------------------------------------------

SD-14 intersected the following lithological units in sequence:
   0 - 11m. Colluvium.
  11 - 184m. Quartz-scheelite vein stockworks in skarn altered
   Myobong Slate.
  184 - 353m. Jangsan Quartzite.

Drill Hole SD-16 averages 146 metres (39-185m) @ 0.11% WO3 and 0.01% MoS2. Results from hole SD-16 are tabulated below:

---------------------------------------------------------------------------
Intersection  Depth     WO3    MoS2     Au      Bi        Formation
 Thickness              (%)     (%)    (g/t)    (%)
---------------------------------------------------------------------------
 7 metres    12-19m     0.09   0.02     0.05   0.04  Skarn  (Myobong Slate)
---------------------------------------------------------------------------
13 metres    39-52m     0.34   0.01     0.04   0.07  Skarn  (Myobong Slate)
---------------------------------------------------------------------------
22 metres   87-109m     0.19 < 0.01     0.06   0.02  Skarn (Myobong Slate)
---------------------------------------------------------------------------
 4 metres  122-126m     0.12   0.01     0.05   0.01  Skarn (Myobong Slate)
---------------------------------------------------------------------------
 2 metres  130-132m     0.12 < 0.01     0.02   0.02  Skarn (Myobong Slate)
---------------------------------------------------------------------------
18 metres  138-156m     0.12   0.01     0.06   0.02  Skarn (Myobong Slate)
---------------------------------------------------------------------------
17 metres  168-185m     0.16   0.01     0.04   0.01  Quartzite (Jangsan
                                                      Quartzite)
---------------------------------------------------------------------------

25 metres   269-294m    0.14  < 0.01    0.02   0.01  Quartzite (Jangsan
                                                      Quartzite)
---------------------------------------------------------------------------

SD-16 intersected the following lithological units in sequence:
   0 - 2m. Colluvium.
   2 - 11m. Pungchon Limestone.
  11 - 14m Basal sedimentary breccia.
  14 - 179m. Quartz-scheelite vein stockworks in skarn altered
   Myobong Slate.
  179 - 323m. Jangsan Quartzite.

Drill Hole SD-15 averages 156 metres (0-156m) @ 0.07% WO3 and 0.01% MoS2. Results from hole SD-15 are tabulated below:

---------------------------------------------------------------------------
Intersection  Depth     WO3    MoS2     Au      Bi        Formation
 Thickness              (%)     (%)    (g/t)    (%)
---------------------------------------------------------------------------
13 metres    0 - 13m    0.11    0.13    0.08    0.04   Soil and colluvium
---------------------------------------------------------------------------
2  metres   19 - 21m    0.06    0.08    0.24    0.04  Skarn (Myobong Slate)


---------------------------------------------------------------------------
3  metres   38 - 41m    0.20    0.01    0.06  < 0.01  Skarn (Myobong Slate)
---------------------------------------------------------------------------
20 metres   54 - 74m    0.18    0.01    0.09    0.03   Skarn(Myobong Slate)
---------------------------------------------------------------------------
8  metres   90 - 98m    0.10    0.02    0.10    0.02  Skarn (Myobong Slate)
---------------------------------------------------------------------------
12 metres 104 - 116m    0.09    0.01    0.12    0.02   Skarn(Myobong Slate)
---------------------------------------------------------------------------
7  metres 135 - 142m    0.11    0.01    0.04    0.02  Skarn (Myobong Slate)
---------------------------------------------------------------------------
11 metres 145 - 156m    0.08  < 0.01    0.02    0.02   Quartzite (Jangsan
                                                        Quartzite)
---------------------------------------------------------------------------
10 metres 230 - 240m    0.15  < 0.01    0.04    0.02   Quartzite (Jangsan
                                                        Quartzite)
---------------------------------------------------------------------------


SD-15 intersected the following lithological units in sequence:
   0 - 3m. Soil.
   3 - 10m. Colluvium.
  10 - 146m. Quartz-scheelite vein stockworks in skarn altered
   Myobong Slate.
  146 - 308m. Jangsan Quartzite.

Updated Longitudinal Section: To view an updated Longitudinal Section, please go to http://www.orientalminerals.com/s/MapPhotos.asp

Updated Drill Program: To view an updated Drill Program, please go to http://www.orientalminerals.com/s/MapPhotos.asp

Copper-Silver Significant copper-silver mineralization was also intersected within the Pungchon Limestone overlying the tungsten-molybdenum mineralized skarn of the Myobong Slate. The copper-silver mineralization is related to major sub vertical north-northeast striking fault structures. The following intersections were recorded:

-----------------------------------------------------------
Hole Number   Intersection     % Cu     g/t Ag      Depth
-----------------------------------------------------------
SD-09          26 metres        0.66      59      58 - 84m
-----------------------------------------------------------
SD-09           8 metres        0.18      22      187-195m
-----------------------------------------------------------
SD-13           3 metres        0.52      31     113 - 116m

Phase 2 drilling is now anticipated to be completed in December. Drill spacing will then close up to a 50 metre x 50 metre drill spacing. It is expected that a measured and indicated category NI-43- 101 compliant resource statement will now be completed by April 2008.

Current Drill Status:

        SD-19.         Abandoned at 275 metres. Unable to penetrate
                       workings.
        SD-20.         Completed at 816 metres.
        SD-21.         Abandoned at 215 metres. Unable to penetrate
                       workings.
        SD-22.         Completed at 302 metres.
        SD-23.         Completed at 431 metres.
        SD-24.         Completed at 300 metres.
        SD-25.         Completed at 20 metres.
                       Identified as a low grade dump stockpile.
        SD-26.         Completed at 15 metres.
                       Identified as a low grade dump stockpile.
        SD-27.         Completed at 49 metres.
                       Identified as a low grade dump stockpile.
        SD-28          RC Precollar to 110 metres.
        SD-29.         Currently at 207 metres.
        SD-30.         Currently drilling at 319 metres.
        SD-31.         Abandoned at 166 metres. Rods lost in hole.
        SD-32.         Completed at 300 metres.
        SD-33.         Currently at 86 metres.
        SD-34.         Currently at 40 metres. RC hammer stuck in hole.
        SD-35.         RC Pre-collar to 200 metres.
        SD-36.         Currently at 117 metres. RC hammer stuck in hole.
        SD-37.         Currently at 22 metres.


Note: Because the holes are laid out on a grid pattern certain holes, such as 25, 26 and 27 are drilled for completeness

Note: Samples are 1-metre split HQ and NQ core samples and were submitted to ALS Chemex laboratory in Brisbane, Australia and analyzed by Ore Grade Method XRF-ME05, Au-AA21, ME-ICP41s and Ag-OG46.

Quality Control: Blanks and Standards samples were routinely inserted with the drill samples at random intervals. Check analysis of Standards confirms they are all suitable for use as tungsten Standards. The previously reported consistent reporting below the certified levels (observed in 2 Standards) may be due to either the matrix of the particular Standard source material not releasing all the tungsten, or a laboratory handling error. Duplicate samples are currently being processed by another independent laboratory to ascertain if laboratory handling error is the cause of the under-reporting.

Blank samples were clean, indicating no cross contamination in the samples.

QUALIFIED PERSON

This Press Release has been prepared by Vice President Exploration Mr. Christopher Sennitt. Assay Quality Control has also been monitored by Mr. Christopher Sennitt, the Qualified Person for purposes of this release.

On behalf of the Board of Directors,
Willie McLucas
President and CEO
+ 44 7881 816 980

About Oriental Minerals Inc.

Oriental Minerals is a Canadian based exploration company exploring for world-class mineral deposits in South Korea. The Company's current projects include tungsten-molybdenum, base metals and gold-silver properties with significant known mineralization and excellent regional potential.

South Korea is an independent country with strong ties to the USA and a key trading partner with Canada and Australia. The country has an excellent infrastructure, established and workable Mining Laws, and available trained mining workforce.

These factors combined with an in country bi-lingual team, assists OTL in capturing a first class country-wide, diversified minerals portfolio.

Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. Such statements are based on numerous assumptions and are subject to all the risks and uncertainties inherent in the Company's business, including risks related to mineral exploration and development. Consequently, actual results may vary materially from those described in the forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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