SOURCE: O.T. Mining Corporation

November 03, 2005 09:00 ET

Silver-Base Metal Mineralization Encountered Near the Ruby Mine

MONTREAL -- (MARKET WIRE) -- November 3, 2005 --The O.T. Mining Corporation ("O.T.") (OTC: OTMN) is pleased to announce that silver-base metal mineralization has been encountered in the Ruby Mine Area on its 10.3 square mile Ruby Property in the Butte district of Montana.

Hole 105C-3 was a minus 40 degree hole drilled at a 215° (south 35° west) bearing. It encountered a silver-base metal vein in over 4.4 feet from 811.8 to 816.2. The true thickness of the vein was 3.1 feet. The vein carried visible galena, chalcopyrite, and sphalerite. The upper 1.8 feet of the vein carried the highest grades, averaging over 2 ounces per ton Ag, approximately 2% Cu, and over 10% combined Pb and Zn. Geochemical results are summarized in the table below.

SIGNIFICANT INTERCEPTS FROM HOLE 05C-3 (IN FEET)

From     To     Thickness   PPB Au  G/T Ag   PPM Cu  PPM Pb  PPM Zn
811.8   812.6      0.8       68      73.0    21000   58400   53200
812.6   813.6      1.0       66      75.1    17000   45700   59000
813.6   814.5      0.9       61      12.7     1450    6180    8390
814.5   815.2      0.7       15       0.8      100     580     450
815.2   816.2      1.0      140      47.1     7040   25400   35200
Similar mineralization has been located at surface, vertically above the 05C-3 vein intercept by O.T. geologic staff. This mineralization is interpreted to be the surface expression of the vein system. The surface mineralization occurs along a 4,500 feet long north-northeast trending structure that has a distinctive geophysical signature. This signature has been identified by the ongoing geophysical program being conducted on the property by Matrix geophysics using their proprietary methodology.

A series of continuous rock chip samples (130911-130926) were taken perpendicular to the trend of the structure. Sample 130927 was a select sample of material that appeared to have the most abundant mineralization. Sample R1012 was randomly collected rock chips taken over a 1.5 by 5 foot area. The continuous chip samples carried from 0.4 up to over 7 ounces per ton Ag and over 1 % Pb. The select samples carried up to over 21 ounces per ton Ag and over 2.5% Pb. The lower base metal values in the surface samples relative to the vein in hole 05C-3 is thought to be due to surface oxidation. Geochemical results are summarized in the table below.

SURFACE SAMPLING RESULTS

Sample No.    Width    PPB     G/T     PPM     PPM    PPM
            (in feet)  Au      Ag      Cu      Pb     Zn
130911         2.0    < 5      0.4    < 10     140    10
130912         1.0      6      1.0      10     220    10
130913         2.0     16      1.6     170     580    30
130914         2.0     19      2.0      40     530    50
130915         2.0     39      5.0      30     630    30
130916         1.5    220     60.9     290    8290    90
130917         1.5     34      8.4     290    1140    30
130918         2.0     29     14.4      30     660  < 10
130919         1.5    308     46.4     670    4200    20
130920         1.5    692    249.0     680   11800    30
130921         2.0     51     25.5      80    1930  < 10
130922         1.5    205     53.0     140    3470    30
130923         1.5     19      7.1      40     710    30
130924         2.0      9      7.3      10     360    20
130925         2.0     39      7.6      50     740    70
130926         2.0     12      2.2      60     370    90
130927          NA   1290    480.0    2110   17800    90
R1012           NA   2710    733.0    1510   25300    50
O.T. plans to conduct additional exploration of this new target in the future.

This work is part of an ongoing exploration program consisting of integrated geology, geochemistry, geophysics and diamond drilling.

As previously announced, four core holes totaling 3,512 feet were completed on integrated geological-geophysical-geochemical targets in and around the past producing Ruby gold-silver Mine. Surface samples were also collected from the area. All samples were analyzed by SGS Mineral Services (Toronto), an ISO-accredited laboratory.

As previously announced, the 2004 discovery hole NA04-6 was deepened to 3,215. It carried visible copper mineralization similar to that observed in 2004 down to approximately 3035 feet. Two deep test holes into the porphyry system in the North Area are currently being drilled.

Hole NA04-6 (described above) was sited on a copper, cobalt and zinc (Cu-Co-Zn) MMI anomaly in 2004. Analyses of 3,535 additional Mobile Metal Ion (MMI) samples collected in 2005 are in progress at SGS Mineral Services (Toronto). The analyses from these MMI samples will be used in conjunction with geophysical survey results to site additional drill holes.

The phase one geophysical IP survey of the North Anomaly is nearly complete. Quantitative Section Induced Polarization geophysics is being undertaken by Matrix Geo Technologies Ltd. (Toronto).

Permitting with Federal and State authorities for 2006 exploration activities on the Ruby property is proceeding under the direction of Dr. Fess Foster, O.T.'s Project Manager.

Disclaimer: This news release contains certain "Forward-Looking Statements." All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Contact Information

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