Oro Gold Resources Ltd.

Oro Gold Resources Ltd.

May 07, 2007 08:00 ET

Oro Gold Stakes Additional Ground in Panama

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 7, 2007) - Oro Gold Resources Ltd. ("Oro Gold") (TSX VENTURE:OGR) has applied for mineral title to four properties covering 250 km2. The properties are strategically located near the Sona property in the Veraguas province of Panama.

The acquisitions were prompted by recent exploration progress at the company's Sona property. During this work program, numerous stream sediment samples returned anomalous values grading up to 2.14 g/t gold. Visible gold in panned concentrates was observed in 42 out of 90 drainage basins, covering a significant area of over 20 km2. Mapping, rock chip and ridge-line soil sampling were then conducted, which identified at least 3 distinct gold targets. 65 rock samples were taken, with values ranging up to 10.74 g/t gold over 3 metres (see Oro Gold's press release dated March 1, 2007).

"Exploration results to date have been very encouraging at Sona, and these applications help solidify our position in the area," stated Frank Powell, President of Oro Gold de Panama.

The 4 new properties cover a combined 250 km2 in close proximity to the 90 km2 Sona concession, 220 km southwest of Panama City. All of the properties have good access and infrastructure and are located outside of indigenous lands, reserves and tourist development areas.

In light of the progress at Sona, the company has decided to accelerate exploration activities at the project. Sampling programs are ongoing, while a magnetic survey is planned for the near future. Activities are focused on developing drill targets.

About Oro Gold in Panama

Oro Gold holds title to 6 exploration properties in Panama covering 750 km2. The company has a dedicated exploration team to advance these properties and develop drill targets. Ongoing generative activity along with a joint venture strategy will continue to be a fundamental part of the company's growth strategy.

Oro Gold is committed to building long-term working relationships with government and local communities in Panama. The company is involved in the local mining and exploration industry on many levels, from working with the Ministry of Commerce, to providing development programs and employment opportunities on its properties.


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