SOURCE: Oriental Minerals Inc.

February 22, 2007 10:40 ET

Second Drill Rig Starts Up at Sangdong; Grab Sample Results From the Chongyang Mine

VANCOUVER, BC -- (MARKET WIRE) -- February 22, 2007 -- Oriental Minerals Inc. (TSX-V: OTL) is pleased to announce a second diamond drill rig has arrived at the Sangdong tungsten-molybdenum project in South Korea. The first hole, SD-01 was successfully extended to 781 metres, still with visible molybdenum mineralization at the bottom of the hole.

This first hole was designed as a due diligence hole to test three mineralized zones:

1. mineralization of the overlying Pungchon Limestone;
2. various horizons within the 150 meter thick skarn in the Myobong Slate
   which includes the 5 to 6 metre thick Main Vein previously in
   production;
3. the historical deep molybdenum resource in the Jangsan Quartzite
   previously drilled by the Koreans.
The first drill rig has commenced drilling SD-02 targeting both the tungsten-molybdenum-bismuth-tin-gold skarn mineralization and the deep molybdenum mineralization, with a planned target depth of 640 metres.

The second diamond drill rig (supplied by Jina Engineering, Seoul) has arrived on site and has commenced drilling hole SD-03. SD-03 is also planned to target both tungsten-molybdenum-bismuth-tin-gold skarn and deep molybdenum mineralization and has a planned target depth of 320 metres.

The Phase I drilling program is well underway with the entire skarn package, locally about 150 metres thick, to be drill tested with a 9-hole fence longitudinal section. Drill holes are also designed to test the historical deep molybdenum resource hosted in the Jangsan Quartzite. Drill results will be released in batches as they become available.

CHONGYANG - tungsten-molybdenum mine

The Company is also pleased to provide results from the Chongyang tungsten-molybdenum mine, also in South Korea. The following results were received from grab rock chip sampling of surface exposures at the Chongyang mine:

* 0.108% W, 55 ppm Mo, 16.1 g/t Ag, 0.135% Bi, 0.141% Zn, 0.401% F.
* 0.128% W, 0.105% Mo, 16.4 g/t Ag, 299 ppm Bi, 0.436% F.
* 35.9 g/t Ag, 110 ppm Bi, 0.922% Zn.
The Chongyang tungsten-molybdenum mine ceased production in 1977. Consisting of a sheeted quartz-sericite-pyrite "greisen"-style system hosted in porphyritic granite, the Chongyang vein system is 250 metres wide by 2,000 metres long. Oriental Minerals will initiate an evaluation of the bulk tonnage open pit potential of this deposit by drill testing.

Oriental Minerals Chairman, Damien Reynolds, emphasized that, "I am pleased that we are increasing the pace of drilling at Sangdong so that significant values can be demonstrated as soon as possible. Aggressive exploration has also begun at the Chongyang tungsten-moly project, giving us further exposure to two highly-sought-after metals."

Note: Samples are grab rock chip samples and were submitted to ALS Chemex laboratory in Brisbane, Australia and analyzed by methods Au-AA21, Au-AA25, ME-ICP41s, Ag-OG46, Cu-OG45, F-ELE-81a, F-ELE82 and XRF-ME05.

QUALIFIED PERSON

The qualified person for the purposes of this release is Mr. Mark Dugmore.

On behalf of the Board of Directors,
Damien Reynolds
Chairman and Director
Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. Such statements are based on numerous assumptions and are subject to all the risks and uncertainties inherent in the Company's business, including risks related to mineral exploration and development. Consequently, actual results may vary materially from those described in the forward-looking statements.

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

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