January 24, 2014, 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 the final Mining Waste Reclassification proposal has been submitted to the Central Valley Regional Water Quality Control Board (“Regional Water Board”) for the reclassification of WMUs at Carson Hill.
Presently the Regional Water Board has reclassified the WMUs as Group “B” mining waste per 27 CCR § 22480(b)(2)(B) (Water Board, 2007; Finding 50). However, with the work of Dr. Patrick Sullivan, a reclassification proposal was submitted to the Regional Water Board back in October, 2013. Various revisions have taken place and the final proposal was submitted today. The company hopes that its proposal will convince the Regional Water Board to reclassify the mining waste of the WMUs to Group “C” mining waste.
If the Regional Water Board agrees to reclassify the WMUs to Group “C” mining waste, then all tailings produced by removing the gold and sulfide by froth flotation will not require managed containment. As a result, there will be little or no environmental impact on the cost of gold production.
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.