Oracle Mining Corp.

Oracle Mining Corp.

February 08, 2012 06:00 ET

Oracle Mining Appoints Doug Nicholson as Chief Operating Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 8, 2012) - Oracle Mining Corp. ("Oracle Mining" or the "Corporation") (TSX:OMN)(OTCQX:OMCCF)(PINKSHEETS:OMCCF)(FRANKFURT:OMC) is pleased to announce that Doug Nicholson has joined the Corporation as Chief Operating Officer, effective February 1, 2012.

Mr. Nicholson will lead the Oracle Mining operations team in the re-start of the Oracle Ridge Copper Mine near Tucson, Arizona. He has extensive experience in the construction and management of mining operations in North America and will also be directly involved in all aspects of the Corporation's strategic planning and business development.

"Doug has an outstanding track record of achievements, he brings a wealth of experience in operations management and professional acumen to our company," said Mr. Paul Eagland, Oracle Mining's CEO. "He is an excellent addition to the Oracle Mining team and will play a key role in achieving our goal of re-starting the Oracle Ridge Copper Mine."

Prior to joining Oracle Mining, Mr. Nicholson worked with NovaGold Resources Inc. and served as President of Donlin Gold LLC, a 50/50 joint venture between NovaGold and Barrick Gold Corp., assuming that role during nine years of service between 2002 and 2011. At Kinross Gold from 1992-2002, he was responsible for scoping, scheduling, developing mine plans and staffing for the Fort Knox Mine. He holds a BSc. in Mining Engineering from the University of Alaska, Fairbanks.

The Board of Directors has also approved and granted stock options to Mr. Nicholson. Options were granted to purchase 200,000 common shares in the capital of the Corporation, exercisable for a period of five years at a price of $1.12 per share and subject to the terms and conditions of the Company's Stock Option Plan and Toronto Stock Exchange approval. The common share stock options vest one-third immediately upon the date of grant, one-third will vest 12 months from the date of grant and the final one-third of the options will vest 24 months from the date of grant.

About Oracle Mining Corp.

Oracle Mining Corp. (TSX:OMN)(OTCQX:OMCCF)(PINKSHEETS:OMCCF)(FRANKFURT:OMC) 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 24 km northeast 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 development of the Oracle Ridge Copper Mine, 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, risks related to the Corporation's 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 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.

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