Oro Mining Responds to Wexford Announcement
Oro cautions its shareholders that Wexford has not made a formal offer and no action is required by Oro shareholders at this time. If and when the offer is made, the board of directors of the Company will review it to determine whether it is in the best interests of the Company. As part of the review process, the board of directors has established a special committee of independent directors (the "Special Committee"), who will, together with its financial and legal advisors, evaluate and consider the adequacy of the offer.
While the review process is underway, shareholders should await the results of the review and recommendation of the board of directors before making any decisions with respect to the offer from Wexford. After a formal bid document is received from Wexford, the directors of Oro will issue a directors' circular that will contain important information for shareholders, including the board's recommendation regarding the offer. The Company advises shareholders not to deposit any common shares to the Wexford offer and not to take any other action concerning the offer until shareholders have reviewed and considered the directors' circular.
About Oro Mining
Oro Mining is a publicly-listed company on the TSX Venture Exchange with properties located in Sinaloa and Zacatecas, Mexico. Oro's priority is to advance its properties toward production. The La Trinidad property, which hosts the Taunus gold deposit, continues to be the priority focus of the Company's development activities. A complete NI 43-101 resource estimate and preliminary economic assessment for the Taunus deposit can be found at www.sedar.com or at www.oromining.com.
On behalf of the Board
Robert Kendrick
Chairman
Some statements contained in this news release are forward-looking statements. These statements generally are identified by words such as the Company "believes", "expects", and similar language, or convey estimates and statements that describe the Company's future plans, objectives or goals. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Further information regarding risks and uncertainties which may cause results to differ materially from those projected in forward-looking statements, are included in filings by the Company with securities regulatory authorities. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. The Company does not undertake to update any forward-looking statement that may be made from time to time except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Oro Mining Ltd.
Robert Kendrick, Chairman
(604) 646-1580
(604) 642-2411 (FAX)
communications@oromining.com
www.oromining.com