Oracle Mining Announces Private Placement Offering

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/19/12 -- Oracle Mining Corp. ('Oracle Mining' or the 'Corporation') (TSX: OMN)(OTCQX: OMCCF)(PINKSHEETS: OMCCF)(FRANKFURT: OMC) is pleased to announce that, subject to applicable regulatory approval, it intends to carry out a private placement (the 'Private Placement') for up to 7,800,000 common shares (the 'Shares') of the Corporation at a subscription price of $1.25 per Share, raising aggregate gross proceeds of up to $9,750,000.

Oracle Mining expects the Private Placement to close as soon as practicable after receipt of final Toronto Stock Exchange (the 'TSX') approval. The Corporation intends to use the proceeds of the Private Placement for expenditures related to its Oracle Ridge Copper Mine project near Tucson, Arizona and general corporate purposes.

All securities distributed pursuant to the Private Placement will be subject to a hold period of four months following closing in accordance with applicable Canadian securities laws and such other further restrictions as may apply under foreign securities laws.

In connection with the Private Placement, the Corporation has engaged a finder and has agreed to pay to the finder a cash finder's fee equal to 6% of the gross proceeds raised from the sale of Shares placed by the finder.

This media release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. The Shares will not be offered or sold in the United States or to, or for the account of, United States persons except to accredited investors pursuant to the exemption from the registration requirements contained under the United States Securities Act of 1933, as amended, to deal with the possibility that the Shares may be sold to United States persons.

About Oracle Mining Corp.

Oracle Mining Corp. (TSX: OMN)(OTCQX: OMCCF)(PINKSHEETS: OMCCF)(FRANKFURT: OMC) is a Vancouver, Canada-based corporation with a focus on uncovering overlooked deep-value projects to achieve superior shareholder returns. The Corporation is the sole owner and operator of Oracle Ridge Mining LLC and copper mine located 24 km northeast of Tucson, Arizona. Oracle Mining has minimal long-term debt and is managed by an experienced team of mining professionals with extensive operating and financial experience.

Forward-looking Statement Disclaimer

This document may contain 'forward-looking statements' within the meaning of Canadian securities legislation. These forward-looking statements are made as of the date of this document and Oracle Mining Corp. (hereinafter referred to as the 'Corporation') does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect management of the Corporation's expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the completion of the Private Placement, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the receipt of permits to develop and operate the project, the timing and amount of estimated future production, costs of production, 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 certain cases, forward-looking statements can be identified by the use of words such as 'plans', 'expects' or 'does not expect', 'is expected', '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 'be achieved' or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve 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 the forward-looking statements.

Such factors include, among others, risks related to the Corporation's ability to obtain exchange approval of the Private Placement; actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in the Corporation's interim and annual financial statements and management's discussion and analysis of those statements, all of which are 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 those described in forward-looking statements, 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 statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Contacts:

Oracle Mining Corp.

Mr. Carlos Escribano

Vice President Finance and CFO

604-689-9282


Oracle Mining Corp.

Mr. Alex Langer

VP Capital Markets

604-689-9293 or Toll-free: +1-855-689-9282
info@oracleminingcorp.com
www.oracleminingcorp.com