Oro Gold Resources Ltd.
TSX VENTURE : OGR

Oro Gold Resources Ltd.

May 14, 2008 09:30 ET

Oro Gold Acquires Key Ground in Rosario District, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 14, 2008) - Oro Gold Resources Ltd. ("Oro Gold") (TSX VENTURE:OGR) has acquired a 100% interest in the 80 hectare San Pablo property located approximately 10 km east of the past-producing Rosario gold-silver mine in Sinaloa, Mexico. Oro Gold has been consolidating a property position surrounding the San Pablo concession over the last two years. A total of five concessions have been acquired, two through the Mexican government lottery process, and three by staking open ground. The acquisition of San Pablo completes the consolidation of a 3,508 hectare El Habal land package which gives Oro Gold a 100% interest in another prospective area within the Rosario gold belt.

The El Habal property has had a long history of exploration and development dating back to the 1930's. Most recently, in 1999, MK Gold Company entered into a joint venture agreement with the previous owner, Cominco, and drilled seven reverse circulation (RC) holes. Six of the seven holes did not encounter significant mineralization, however one of the holes intersected over 300 metres averaging 1.0 g/t gold. The mineralized interval occurs at 40 metres below surface and continues to the end of the hole and is described as quartz stockwork veining in altered volcanics. The drilling was completed prior to the implementation of National Instrument 43-101 standards. The results are considered to be indicative of a potential mineralized system at El Habal. Oro Gold is currently in the process of obtaining the drill data.

"I am very pleased that we have been able to consolidate this strategic land position," commented Frank Powell, Vice President of Oro Gold. "We have been monitoring and strategically adding ground at El Habal since the company was founded 3 years ago. The recent acquisition of San Pablo was our last step, and represents another low cost acquisition that has the potential to add significant value to Oro Gold."

A number of historic workings have been identified on the property. Three underground workings were developed on tabular-shaped silicified zones ranging in size from 500 to 1,200 square metres. The zones are aligned in a northeast direction and are described as being zones of structural intersections. The sampling completed by the Mexican Council of Mineral Resources in 1985 indicates grades ranging from 1 to 14 g/t gold.

Given the historic indications of mineralized intervals and the observed stratigraphic controls of alteration, Oro Gold considers the El Habal property to have excellent potential to host a bulk tonnage, near surface gold deposit, and will start to rapidly advance the property targets in the near future.

The foregoing information of a technical nature has been reviewed by Marc Jutras, M.A. Sc., P.Eng., a qualified person for the purposes of National Instrument 43-101.

About Oro Gold

Oro Gold is a gold exploration company with 12 properties located in Mexico and Panama, with five of the properties optioned to joint venture partners. The district-scale Trinidad property continues to be Oro Gold'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. Oro Gold's mission is to build shareholder value by making discoveries and developing low-cost gold resources through early and advanced stage exploration.

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