SOURCE: Oriental Minerals Inc.

June 04, 2007 09:00 ET

Oriental Applies for 56 Uranium, 41 Gold and 149 Base Metals Mining Rights in South Korea

VANCOUVER, BC--(Marketwire - June 4, 2007) - Oriental Minerals Inc. (TSX-V: OTL) is pleased to announce it has applied for a total of 56 Mining Rights for Uranium, 41 Mining Rights for gold-silver and 140 Mining Rights for base metals in South Korea. These applications complement the Company's existing portfolio of gold, base metal and uranium projects in South Korea and demonstrate the Company's goal to become a dominant commodity supplier in the fastest-growing regional economy in the world.

The 56 Mining Right applications covering 15,456 hectares, have been made for uranium as extensions to Oriental's existing Ogchon Project 144 Mining Right applications. Reconnaissance prospecting exploration by Oriental's geological teams has indicated the uraniferous-bearing graphitic beds extend further along strike into these areas.

In addition to the 16 uranium deposits and radiometric anomalies previously identified, the Ogchon Uranium Project also contains the old Subog and Yongdong lead-zinc deposits and the Kumhai gold mine.

The 41 Mining Right applications, covering 11,316 hectares, have been made for gold-silver in a 100-kilometre trucking radius of Oriental's Muguk gold-silver deposit. The Mining Right applications cover the following five groups of historic gold mines:

* Cheonbo.
* Oechon-Palbong-Sambong-Chungchon-Puyong.
* Gyeonsan-Shinyeo-Kudun-Okbong-Kyongsan.
* Hwaamri-Chiak-Gangweon.
* Cheonam-Ibo-Seonggeo-Daehung.
These historic gold mines will be evaluated as potential satellite gold-silver deposits, feeding high grade ore to a central milling facility potentially sited near Oriental's Muguk gold mine.

The 149 Mining Rights, covering 41,124 hectares, were applied for over the strike extensions to the base metal skarn belt to the east and west of Oriental's substantial Sangdong tungsten-molybdenum deposit. The Mining Rights cover the following historic mines:

* Weolag, Gyegog, Sujong, Weondong and Yonghua tungsten-molybdenum mines.
* Eungog, Yojon/Ryuden, Yomisan-Shinyemi, Uirim, Dongjeum, Wondok, Tokpung
and Ulchin lead-zinc deposits.
* Ogdong and Dongnam magnetite mines.
* Pobal, Taedae, Ungyo and Pangye gold mines.
These applications cover the 125-kilometre long mapped strike length extensions of the Myobong Slate, Jangsan Quartzite and Pungchon Limestone, considered the most favourable geological formations to host major base metal deposits. Please visit or contact the Company for the related map of these applications.

Once approved, Oriental Minerals will be, by far, the largest mining licence holder in South Korea, with 426 Mining Rights in total, covering 115,611 hectares or 1,156 square kilometres. Approvals for these current applications are expected to be received within 6 months.


The qualified person for the purposes of this release is Mr. Mark Dugmore.

On behalf of the Board of Directors,
Damien Reynolds
Chairman and Director
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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