SOURCE: Oriental Minerals Inc.

July 11, 2007 08:30 ET

Willie McLucas Appointed to Serve as President of Oriental Minerals

VANCOUVER, BC--(Marketwire - July 11, 2007) - Oriental Minerals Inc. (TSX-V: OTL) is pleased to announce that Willie McLucas has been appointed President of Oriental Minerals, effective immediately, replacing Stephen Flechner, who will return to his role as General Counsel for the Company.

Mr. McLucas has considerable experience in the mining sector, including the founding of Thistle Mining Inc. in 1996, which acquired gold projects in Kazakhstan, the Philippines and the 200,000-ounce per annum President Steyn gold mine in South Africa. He served as Investment Director of the Australasian Gold Fund, which helped to finance the renaissance of The Australian gold industry through the mid-1980s. During the 1990s, as CEO of Waverley Mining Finance plc, he rescued Perseverance Corporation in Australia as well as financing several other projects.

Oriental Minerals is continuing its executive search for a full-time CEO and a COO to be based in Vancouver and Seoul, which will reinforce Oriental Minerals' status as a long-term investor in South Korea's mining industry. Continued building of the "in-country" management team will be a significant part of the Company's goal to re-develop the Sangdong tungsten/molybdenum deposit into a modern operating mine.

"Oriental Minerals continues to add to its management team as it continues to grow its operations in South Korea," stated Damien Reynolds, Chairman of the Company. "I thank Steve for his tireless efforts as President and look forward to having Oriental's new executive team build upon our accomplishments to date."

Oriental Minerals currently has 6 diamond drill rigs and 1 reverse-circulation drill rig at Sangdong, focused on the tungsten/molybdenum mineralization to generate additional data for the new resource estimate planned for October 2007. The diamond drill rigs are also assisting in the collection of geotechnical information to support engineering work to re-develop the Sangdong mine.

On behalf of the Board of Directors,

Damien Reynolds,

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 and accuracy of this release.

Contact Information

  • For More Information Contact:

    Spiro Kletas
    Investor Relations