Orosur Mining Inc. Announces Production Update – Full Year Production Remains on Track
Orosur Mining Inc. (“Orosur” or the "Company") (TSX: OMI) (LSE: OMI) today announces that its production for the second quarter ended 30 November, 2012 was 13,970 ounces and the Company remains on track to achieve its forecast production target of 63,000 to 68,000 ounces for the full year.
The Company notes that the development of the Arenal Deeps ramp is on track for completion during the quarter ending 28th February 2013 with 352 meters completed during the second quarter. As at 30 November 2012, 180 metres of development remain to be completed (out of a total of 1,990 metres). Completion of the ramp will enable the Company to access higher grade ore at Arenal Deeps in the last quarter of the financial year ending 31 May 2013.
About Orosur Mining Inc.
Orosur Mining Inc. is a fully integrated gold producer and exploration company focused on identifying and developing gold projects in Latin America. The Company operates the only producing gold mine in Uruguay (San Gregorio), and has assembled an exploration portfolio of high quality assets in Uruguay and Chile. The Company is quoted in Canada (TSX: OMI) and London (AIM: OMI).
Forward Looking Statements
All statements, other than statements of historical fact, contained or incorporated by reference in this news release, including any information as to the future financial or operating performance of the Company, constitute “forward-looking statements” within the meaning of certain securities laws, including the “safe harbour” provisions of the Securities Act (Ontario) and the United States Private Securities Litigation Reform Act of 1995 and are based on expectations estimates and projections as of the date of this news release. There can be no assurance that such statements will prove to be accurate, such statements are subject to significant risks and uncertainties, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements include, without limitation success of exploration activities; permitting time lines; the failure of plant; equipment or processes to operate as anticipated; accidents; labour disputes; requirements for additional capital title disputes or claims and limitations on insurance coverage. The Company disclaims any intention or obligation to update or revise any forward looking statements whether as a result of new information, future events and such forward-looking statements, except to the extent required by applicable law.
Orosur Mining Inc
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Chief Financial Officer
Canaccord Genuity Limited (Nominated Adviser & Joint Broker)
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Seymour Pierce (Joint Broker)
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Blythe Weigh Communications (Public Relations and Investor Relations)
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Paul Weigh, +44 (0) 7989 129658
Robert Kellner, +44 (0) 7800 554377