SEPTEMBER 11, 2013, Carson Hill, California— Oro East Mining, Inc. (OTCBB: OROE), a global mines acquisition, exploration, and development group and pioneer in sustainable mining and refinery technologies, announced today that it has entered into a pilot testing agreement with Sutton Enterprises, a family-owned partnership that holds certain mining claims in Calaveras County, California (“Carson Hill Site”).
Through its subsidiary Oro East Mariposa, negotiations have commenced with third and fourth generation gold mine proprietors Sutton Enterprises, run by the Sutton Brothers, Brad and Mark Sutton, in the western region of the United States to acquire control over exploration and prospective gold refinery operations in the region. Oro East Mariposa has commenced research, due diligence, and a pilot plant testing phase at various site locations to determine viability of full refinery operations.
At the Carson Hill Site are three WMUs, or former heap leach pads, filled with gold tailings from previous historic mining excavations are situated in the central Sierra foothills in the County of Calaveras. It is just outside the old mining town Angels Camp and consists of a 64-acre quarry. In addition to the WMUs, the asset consists of five waste rock dumps with significant estimated gold reserves, a pond that provides on-site water usage, and a total of 900 acres of land, 200 of which have been used historically for mining since the 1800s
The Company has retained the services of Dr. Patrick Sullivan, an Environmental Chemistry Consultant, to assist with setting up a pilot testing process to test the gold concentrates of the three WMUs.
Said Ms. Chung, the Chief Executive Officer of Oro East Mariposa: “What excites me the most about this project at Carson Hill is the opportunity to clean up the mining waste that has ravaged the area for decades. Due to the high content of cyanide and other toxins in the WMUs, the water in the area remains contaminated. Through our pilot testing, we plan on removing all mining waste from the area and restoring healthy groundwater and wildlife to that region of California. This project means a great deal to me as I myself have been a long-time resident of this state.”
Disclaimer about forward-looking statements. This news release includes “forward-looking statements” as that term within the meaning of securities laws of applicable jurisdictions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that are in some cases beyond the control of Oro East. These forward- looking statements include, but are not limited to, all statements other than statements of historical facts contained in this news release, including, without limitation, those regarding future expectations of Oro East. Readers can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “risk,” “should,” “will” or “would” and other similar expressions. Risks, uncertainties and other factors may cause Oro East’s actual results, performance, production or achievements to differ materially from those expressed or implied by the forward-looking statements (and from past results, performance or achievements). These factors include the failure to complete and commission the mine facilities, processing plant and related infrastructure in the time frame and within estimated costs currently planned; variations in global demand and price for molybdenum and copper; fluctuations in exchange rates between the U.S. dollar and the Philippine peso; failure to recover the resource and reserve estimates of the Project; the failure of Oro East’s suppliers and service providers to fulfill their obligations under construction, supply and tolling agreements; unforeseen geological, physical or meteorological conditions, natural disasters or cyclones; changes in the regulatory environment, industrial disputes, labor shortages, political and other factors; the inability to obtain additional financing, if required, on commercially suitable terms; and global and regional economic conditions. Readers are cautioned not to place undue reliance on forward-looking statements.