VANCOUVER, BRITISH COLUMBIA, May 01, 2012 (MARKETWIRE via COMTEX
Oro Mining Ltd. ("Oro" or the "Company") /quotes/zigman/624783 CA:OGR -6.25% announces that at the Annual General Meeting of Shareholders held today, May 1, 2012, Messrs. Robert Kendrick, Ron Ewing, Stuart Rogers and John Brownlie were elected to serve as directors of the Company. In addition, all other motions put forth at the Meeting were approved, including the re-appointment of DeVisser Gray LLP as auditors of the Company and the ratification and re-approval of the Company's 10% rolling stock option plan (subject to TSX Venture Exchange approval).
Immediately following the Meeting, the board appointed John Brownlie as CEO and COO, Marco Antonio Galindo as VP Operations, Priscila Costa Lima as CFO and Mimy Fernandez-Maldonado as Corporate Secretary of the Company for the ensuing year.
Oro is also pleased to report that further to the press release dated April 12, 2012, the Company's Environmental Impact Assessment /Manifestacion de Impacto Ambiental (MIA) for La Trinidad project was officially submitted for approval to the Secretaria de Medio Ambiente y Recursos Naturales of Mexico (SEMARNAT) on April 27, 2012. The Environmental Impact Assessment is the principal document in the application process for a mine operating permit and the official review period is 60 business days during which request for additional information may be made by SEMARNAT. La Trinidad project is located in Sinaloa, Mexico, approximately 110 kilometres southeast of the city of Mazatlan and 42 kilometres southeast of the town of Rosario.
John Brownlie, CEO stated: "The submittal of the Environmental Impact Assessment is an important milestone in our efforts to move La Trinidad project's Taunus deposit to production. We believe we have produced an exceptionally complete document that should receive approval within the official review period. We are also looking forward to being able to disclose the results of our Preliminary Economic Assessment in the near future. We remain committed to maintain the planned timeline for production during the second half of 2013."
The Company remains well funded with $8 million in the treasury as at May 1, 2012.
About Oro Mining
Oro Mining is a publicly-listed company on the TSX Venture Exchange with properties located in Sinaloa and Zacatecas, Mexico. Oro Mining's priority is to advance properties toward production. La Trinidad property that hosts the Taunus gold deposit continues to be the priority focus of the Company's development activities. A complete NI 43-101 compliant resource estimate for the Taunus deposit can be found at www.sedar.com or at www.oromining.com .
On behalf of the Board
John Brownlie, Chief Executive Officer
Certain disclosure contained in this news release, including certain milestones, may constitute forward-looking information or forward-looking statements, within the meaning of Canadian securities laws. These statements may relate to this news release and other matters identified in the Company's public filings. In making the forward-looking statements the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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.
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