SOURCE: Orefinders Resources Inc.

Orefinders Resources Inc.

July 28, 2016 09:00 ET

Orefinders Engages Mining Contractor and Metallurgical Consultants for Mirado Stockpile Project

TORONTO, ON--(Marketwired - July 28, 2016) - Orefinders Resources Inc. ("Orefinders" or the "Company") (TSX VENTURE: ORX) is pleased to announce that it is as engaged two critical contractors to assist in the processing of Phase 1 of the Mirado Stockpile Project.

Contract Mining & Logistics

SCR Mining and Tunneling L.P., of Sudbury, Ontario, will act as the mining contractor for the Stockpiles. SCR is responsible for the on-site crushing of the material to between 4 to 8 inches, which is the optimal size for transport and within specifications requested by the Westwood Mill. SCR will then be responsible for trucking the stockpiles to the Westwood Mill. SCR offers Orefinders a turn key mining and logistic solution for the crushing and transport of its Stockpile. SCR Mining and Tunneling has been in operation since 1994.

Metallurgical Consultant and Process Engineers

Orefinders has also engaged Soutex Inc., of Quebec City, Quebec to act as the metallurgical consultants on Phase One's stockpile processing. Soutex has extensive experience in managing metallurgical and process engineering projects and has worked with the team at Westwood on previous engagements. Soutex will work together with Orefinders and the team at the Westwood Mill to ensure a smooth delivery of the stockpile, an efficient milling process and ultimately to maximize gold recovery from Orefinders' stockpile.

About Phase One of the Mirado Stockpile Project

Phase One is a resource that was blasted and mined from the Mirado open pit mine during its production during in the 1980s. Orefinders has since completed a resource calculation on the Stockpiles which delineated an inferred resource of 20,742 tonnes at an average grade of 4.41 grams per tonne for a total of 2,939 contained gold ounces. As per the toll milling agreement, announced in July 14, 2016 news release, Orefinders will deliver a minimum 25,000 tonnes of resource from the Mirado to the Westwood Gold Mine for processing and extraction of gold.

Orefinders views Phase One as an opportunity to clean up the former mine site and to generate cash flow for Orefinders' ongoing exploration and development of the Mirado project.

Neither 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.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Orefinders' assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Orefinders. Additional information identifying risks and uncertainties is contained in filings by Orefinders with Canadian securities regulators, which filings are available under Orefinders' profile at www.sedar.com.

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Contact Information

  • To Speak to the Company directly, please contact:

    Stephen Stewart
    Chief Executive Officer
    Phone: 416.644.1567
    Email: sstewart@orefinders.ca