Oro Gold Resources Ltd.
TSX VENTURE : OGR

Oro Gold Resources Ltd.

October 29, 2007 14:42 ET

Oro Gold Grants Stock Options; Announces New Board Member

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 29, 2007) - Oro Gold Resources Ltd. ("Oro Gold") (TSX VENTURE:OGR) announces that it has granted an aggregate of 477,000 incentive stock options, subject to all necessary regulatory approvals. 350,000 of the options were granted to directors and officers of the company. The options are exercisable at a price of $ 0.61 per share and expire on October 29, 2012.

The company is pleased to announce the nomination of Ron Ewing to the Board of Directors. "We welcome Mr. Ewing as an independent Director to Oro Gold. His knowledge and experience will be of great value as we continue to grow as a gold exploration company developing a resource base," stated Darren Bahrey, President and CEO of Oro Gold.

Mr. Ewing has over 20 years of experience in the management, administration and financing of both public and private companies. He was involved in the growth and development of EuroZinc Mining Corporation as Executive Vice-President Corporate Affairs from its inception until its recent merger with Lundin Mining Corporation.

Oro Gold is a gold exploration company with 13 projects located in Mexico and Panama, with five of the projects optioned to joint venture partners. The district-scale Trinidad property in Sinaloa, Mexico, continues to be the company's top priority project and the main focus of exploration and resource definition efforts. Ongoing generative activity and a joint venture strategy will continue to be a fundamental part of Oro Gold's growth.

ON BEHALF OF THE BOARD OF DIRECTORS

Darren Bahrey, President and CEO

Some statements in this release may contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, development and production activities and future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the time and success of future exploration, development and production activities and the timing and amount of expenditures.

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

Contact Information

  • Oro Gold Resources Ltd.
    Darren Bahrey
    President and CEO
    (604) 646-1580
    (604) 642-2411 (FAX)
    Website: www.orogoldresources.com