JANUARY 18, 2011, Mindanao Islands, Philippines— Oro East Mining, Inc. is pleased to announce that in thirty (30) days it will commence mining of copper and gold in its Philippine mineral claim, MPSA 184-XI in the Davao Region. Mining will commence at 200 metric tonnes per day. Mr. Tian Chen, the CEO of Oro East Mining issued a statement that the early commencement of operations in MPSA 184-XI is “ambitious and a wonderful accomplishment for the teams that have worked so hard at Oro East.” He congratulates the staff for its diligence and hard work in launching production. Mr. Chen added that the current MPSA 184-XI project “will be a cash flow positive immediately.”
Processing plant and associated infrastructure construction is near completion, and plant commissioning has commenced. Oro East has also undergone studies to increase the project production rates to over 1 million tones per annum. Exploration activities are ongoing.
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. The company assumes no obligation to update such information.