MARIPOSA, Calif., Feb. 2, 2015 — Oro East Mining, Inc. (OROE) (the “Company”), is pleased to announce the completion of the updated technical report for the Red Bank Mine Project located in Mariposa county, California, prepared in accordance with National Instrument 43-101 Technical Report (“Technical Report”) summarizing the results of its recent study.
Based on the Technical Report dated December 29, 2014, prepared by Robert Campbell, M.S., California Professional Geologist, California Certified Engineering Geologist and Principal Engineering Geologist of GeoSolve, Inc. and the laboratory analytical results obtained from the 14 mineral samples collected at the Red Bank mine property in California, which were analyzed by ALS Minerals, mineable ore was determined to be present along the strike of two quartz veins and the talc-carbonate schist matrix bounded by the quartz veins. Up to 0.056 ounce of gold per troy ton of ore and 0.059 ounce of silver per troy ton of ore were determined to be present at the Red Bank mine property. Additionally, moderate to very high concentrations of Rare Earth Element (REE) were detected within the mineral samples collected from the talc-carbonate schist matrix within the lower tunnel mine adit. Rare Earth Elements (REE) found in Red Bank mine property include Dysprosium (Dy), Erbium (Er), Holmium (Ho), Lutetium (Lu), Terbium (Tb), Thulium (Tm), Yttrium (Y), and Ytterbium (Yb).
For detailed information, please see the official 8-K report filed in SEC
http://www.sec.gov/Archives/edgar/data/1430174/000118518515000185/oroeastmining8k012915.htm
To learn more about Oro East Mining, visit the company website at http://www.oroeast.com. Telephone: (510) 638-5000 E-mail: invest@oroeast.com
Disclaimer: This press release contains forward-looking statements that may involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words “plan”, “target”, “anticipate,” “believe,” “estimate,” “intend” and “expect” and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding Oro East’s strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Oro East on the date of the release, and Oro East assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The company’s actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that production will continue at any specific rate. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the company’s 8-K or 10-K filed with the U.S. Securities Exchange Commission.