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Oracle Mining intercepts 25 feet of 4.34% copper
and 27 feet of 3.57% copper in new drilling
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Vancouver, British Columbia, February 9, 2012 - Oracle Mining Corp. ("Oracle Mining" or the"Corporation") (TSX: OMN, OTCQX: OMCCF, FRANKFURT: OMC) is pleased to announce the results of itsongoing drilling program at the Oracle Ridge Copper Mine, located in southernArizona. Hole ODH-19 encountered six zones of greater than 1.0% coppermineralization, including 27 feet of 3.57% copper and 1.07 oz/ton silver. Assaysfor an additional zone in ODH-19 are pending.
Hole ODH-19 was drilled inthe direction of a previously untested skarn bed located during recent surfacemapping and is coincident with the edge of a geophysical anomaly. The presenceof six separate intercepts indicates this area has the potential to hostmultiple skarn beds similar to the historic Zone 1 and 2 areas.
Additional holes were alsodrilled to define and enlarge the known extent of the Zone 4 Escabrosalimestone hosted skarn bed. Highlights of these holes include 25 feet of 4.34%copper and 1.11 oz/ton silver in ODH-15 and 59 feet of 2.32% copper in ODH-17.
The following tabulates theintercepts obtained from this phase of the drilling program.
Hole
From
(feet)
To
(feet)
Width
(feet)
Cu
(%)
Au
(oz/ton)
Ag
(oz/ton)
Zone
Formation
ODH-012
527.5
542
14.5
1.86
0.008
0.39
4 Extension
Escabrosa
ODH-015
552.0
612.0
60.0
2.84
0.012
0.72
4 Extension
Escabrosa
includes
567.0
592.0
25.0
4.34
0.017
1.11
ODH-016
500.0
507.5
7.5
1.63
0.014
0.48
4 Extension
Escabrosa
ODH-017
520.0
579.0
59.0
2.32
0.013
0.55
4 Extension
Escabrosa
includes
560.0
579.0
19.0
2.85
0.017
1.00
and
619.0
629.0
10.0
1.72
0.010
0.53
2
Martin
and
659.0
669.0
10.0
1.90
0.010
0.55
2
Martin
ODH-018
508.0
523.0
15.0
2.07
0.014
0.50
4 Extension
Escabrosa
ODH-019*
827.0
857.0
30.0
1.93
0.014
0.50
New Targets between Zones 11 and 12
New Targets between Zones 11 and 12
and
909.0
923.0
14.0
2.82
0.017
0.70
and
937.0
947.0
10.0
1.94
0.018
0.47
and
1007.0
1034.5
27.5
3.57
0.024
1.07
and
1058.0
1067.0
9.0
1.92
0.010
0.35
and
1102.0
1117.0
15.00
2.00
0.010
0.63
ODH-020
421.0
431.0
10.0
1.86
0.008
0.60
4 Extension
Escabrosa
ODH-021*
456.0
486.0
30.0
1.55
0.008
0.33
4 Extension
Escabrosa
includes
471.0
486.00
15.00
2.17
0.011
0.44
* Assays pending for other zones
Intervals were calculatedusing an external 1.0% copper cut-off and may include internal waste to reflecta potential mineable width. Holes ODH-13 and ODH-14 encountered only sub1.0% copper mineralization. True widths will need to be modeled but are believedto be 70% to 100% of the stated interval length. Intervals labeled "Includes"are higher-grade portions of the previous listed interval. Assays for copper,silver and gold were performed by Skyline Labs of Tucson, Arizona on split coresamples using standard industry accepted techniques.
The results encountered in HoleODH-19 continue to reinforce the Corporations belief that the undrilledportions of the property have significant potential to host additional +1.0%copper mineralization. Drilling is currently underway on two targets outside ofthe historically drilled area of the property.
These holes were drilled aspart of the Corporations ongoing historic data base confirmation program. Thesuccessful completion of the validation program will allow the Corporation toundertake a National Instrument 43-101 compliant resource estimation. Resultsto date compare well with the historic data.
The technical information inthis media release has been prepared in accordance with Canadian regulatory requirementsset out in NI 43-101 and reviewed by Glenn R. Clark, P.Eng. of Glenn R. Clark& Associates Limited, a consultant for Oracle Mining and a Qualified Personunder NI 43-101, who is responsible for the technical information reportedherein.
About Oracle Mining Corp.
Oracle Mining Corp. (TSX: OMN, OTCQX: OMCCF,FRANKFURT: OMC)is a Vancouver, Canada-based corporation with a focus on uncovering overlookeddeep-value projects to achieve superior shareholder returns. The Corporation isthe sole owner and operator of Oracle Ridge Mining LLC and copper mine located24 km northeast of Tucson, Arizona. Oracle Mining has minimal long-term debtand is managed by an experienced team of mining professionals with extensiveoperating and financial experience.
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Forward-lookingStatement Disclaimer
Thisdocument may contain "forward-looking statements" within the meaningof Canadian securities legislation. These forward-looking statements are made asof the date of this document and Oracle Mining Corp. (hereinafter referred toas the "Corporation") does not intend, and does not assume any obligation, toupdate these forward-looking statements. Forward-looking statements relate tofuture events or future performance and reflect management of the Corporationsexpectations or beliefs regarding future events and include, but are notlimited to, statements with respect to the development of the Oracle RidgeCopper Mine, the estimation of mineral reserves and resources, the realizationof mineral reserve estimates, the receipt of permits to develop and operate theproject, the timing and amount of estimated future production, costs ofproduction, access to capital, capital expenditures, success of mining operations,commodity prices, environmental risks, unanticipated reclamation expenses,title disputes or claims and limitations on insurance coverage. In certaincases, forward-looking statements can be identified by the use of words such as"plans", "expects" or "does not expect", "isexpected", "budget", "scheduled","estimates", "forecasts", "intends","anticipates" or "does not anticipate", or "believes",or variations of such words and phrases or statements that certain actions,events or results "may", "could", "would","might" or "will be taken", "occur" or "beachieved" or the negative of these terms or comparable terminology. Bytheir very nature forward-looking statements involve known and unknown risks,uncertainties and other factors which may cause the actual results, performanceor achievements of the Corporation to be materially different from any futureresults, performance or achievements expressed or implied by theforward-looking statements. Such factors include, among others, risks related tothe Corporations actual results of current exploration activities; changes inproject parameters as plans continue to be refined; future prices of resources;possible variations in ore reserves, grade or recovery rates; accidents, labourdisputes and other risks of the mining industry; delays in obtaininggovernmental approvals or financing or in the completion of development orconstruction activities; as well as those factors detailed from time to time inthe Corporations interim and annual financial statements and managementsdiscussion and analysis of those statements, all of which are filed andavailable for review on SEDAR at Although the Corporation hasattempted to identify important factors that could cause actual actions, eventsor results to differ materially from those described in forward-lookingstatements, there may be other factors that cause actions, events or resultsnot to be as anticipated, estimated or intended. There can be no assurance thatforward-looking statements will prove to be accurate, as actual results andfuture events could differ materially from those anticipated in suchstatements. Accordingly, readers should not place undue reliance onforward-looking statements.
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