Oracle Mining Reports Additional Drill Results From 2014 Drill Program

Drilling intersects 50.0 feet of 5.5% CuEQ including 9.4 feet of 11.3% CuEQ at Oracle Ridge Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 22, 2014) - Oracle Mining Corp. ("Oracle Mining" or the "Corporation") (TSX:OMN)(FRANKFURT:OMC) announces additional drill results from the 2014 Drill Program.

The core holes reported in this news release were drilled from Drill Station 3 with the purpose of extending high-grade copper mineralization beyond the drilling that defines our current Mineral Resource Estimate. Until further drilling is completed and a geologic model constructed, true widths cannot be determined from the information available and all intervals reported in this news release are apparent thicknesses. All units are imperial unless otherwise noted. Highlights include:

• OUH-63 hit moderate grades in B12 41 (Martin Formation Upper) indicating there is another potential copper-bearing skarn bed below the high grade skarn designated as B12 30. Based upon drill intersections to date (including from other drill holes), the high-grade copper and silver in B12 30 may have dimensions of 800 feet by 500 feet and is open in at least two directions. OUH-63 refines the Corporation's geological understanding and the importance of higher grade mineralization in extending high-grade copper mineralization beyond the drilling that defines our current Mineral Resource Estimate.

• OUH-62 assay results are low grade as drilling only hit mineralization on the upper 41 (Martin Formation). The Corporation's geology team believes drilling did not reach the mineralization in the Escabrosa Formation because may have been drilling parallel to the target in B12 30.

Intervals in the table below labelled "includes" are higher-grade portions of the previous listed interval. The following tabulates the assay results obtained from the underground drilling program to date:

*CuEQ - Copper equivalency has been estimated using metal pricing of $2.80 per pound of copper, $20 per ounce of silver and $1,300 per ounce of gold. Metallurgical recovery were derived from preliminary lock cycle test results and assumed to be 81% for gold and silver. The formula used is as follows: CuEQ = Cu% + {(Ag oz/t x $20 x 0.81) + (Au oz/t x $1,300 x 0.81)}/$2.80/2,000 x 100.

There are no known drilling, recovery or other factors that could materially affect the accuracy or reliability of the data. Oracle Mining has posted an updated diagram of all drill hole locations of these reported assay results at www.oracleminingcorp.com/_resources/images/2014_Zone_12_intersects.pdf.

The assay results reported today are the final results received following Oracle Mining's announcement earlier in May to temporarily suspend the 2014 Drill Program, reduce expenditures and manage remaining financial resources while evaluating Third Party Options and continuing to advance permitting.

Data Verification

The drill program and sampling protocol were managed by qualified persons employed by Oracle Mining. The Corporation maintains a rigorous QA/QC protocol on all aspects of sampling and analytical procedure. Drill core is checked, logged, marked for sampling and split in half. The sample length varies depending on the geology and the mineralization. In general, the samples are about 5 feet long. Drill core recovery was excellent and exceeded 90 per cent. One-half of each drill core is maintained for future reference and one-half of each drill core is sent for analysis. Half-core samples are shipped to Skyline Assayer and Laboratories ("Skyline"), in Tucson, Arizona, an ISO/IEC 17025 accredited laboratory. Skyline is contracted to complete all sample preparation and assaying and is independent of Oracle Mining. Samples are analyzed employing acid digestion and Atomic Absorption for analyses of copper, as well as fire assaying for silver and gold. For QA/QC purposes, Oracle Mining inserts standard reference materials and blank samples into each sample batch submitted for assay to monitor laboratory performance. The Corporation periodically submits the pulps of the samples assayed by its primary lab to ALS Chemex Labs Ltd. in Reno, Nevada for check analysis.

Kevin Francis RM SME, Vice President Technical Services of Oracle Mining, a non-independent "qualified person" within the meaning of NI 43-101, has reviewed and approved the scientific and technical information included in this news release.

About Oracle Mining Corp.

Oracle Mining Corp. (TSX:OMN)(FRANKFURT:OMC) is a Vancouver, Canada-based corporation that is the sole owner and operator of Oracle Ridge Mining, LLC and the Oracle Ridge copper project located 24 km northeast of Tucson, Arizona. Oracle Mining is managed by an experienced team of mining professionals with extensive operating and financial experience.

Cautionary Note Regarding Forward-Looking Information

Information and statements contained in this news release that are not historical facts are "forward-looking information" within the meaning of Canadian securities legislation that involves risks and uncertainties. Forward-looking information included herein is made as of the date of this news release and Oracle Mining does not intend, and does not assume any obligation, to update forward-looking information unless required by applicable securities laws. Forward-looking information relates to future events or future performance and reflects management of the Corporation's expectations or beliefs regarding future events. In certain cases, forward-looking information can be identified by the use of words such as "plans", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may" or "could" or the negative of these terms or comparable terminology. Examples of forward-looking information in this news release include, but are not limited to, statements with respect to: our plans and expectations for the Oracle Ridge Project, including any extension of copper bearing mineralization beyond the current Mineral Resource Estimate, and the timing or completion of any work on the Oracle Ridge Project. This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information. Such factors and assumptions include, but are not limited to: our ability to successfully raise capital and re-start rehabilitation, drilling and exploration activities at the Oracle Ridge Project.

By its very nature, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by forward-looking information. Such factors include, but are not limited to: risk that we are unable to enforce our legal rights under existing agreements, permits or licences or are subject to litigation or arbitration that has an adverse outcome, including results of operations, our mining and project development operations or our current or potential financing arrangements; risk that we are unable to obtaining financing or are substantially delayed in obtaining financing, as well as those factors discussed in the section entitled "Risks and Uncertainties" in the Managements' Discussion and Analysis for the year ended December 31, 2013 and discussed in the Corporation's annual information form dated March 31, 2014, for the year ended December 31, 2013, filed and available for review on SEDAR at www.sedar.com. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated by such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information.