SEPTEMBER 30, 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 its subsidiary Oro East Mariposa has completed survey of the three WMUs, or former heap leach pads, filled with gold tailings from previous historic mining excavations are situated in the central Sierra foothills at Carson Hill, Calaveras County. The report yielded a net yardage of 2,040,000, which is approximated 3,600,000 tons.
Additionally, the pilot testing process proposed by Dr. Patrick J. Sullivan, the Company’s environmental consultant, has been approved by the Board of Directors. The parties project to commence pilot testing by mid-October.
The pilot scale froth flotation system will be operated within the Sand Plant that has been set up at the Carson Hill site, which will help the Company evaluate the ability of froth flotation to recover residual gold from the WMUs. So far the flotation tests each consist of 200 pounds of leached ore crushed to pass a 20 mesh sieve with approximately 20% fines. ALS Minerals performed samples testing and found gold grade, Au 30 g FA-GRAV finish, 174.0 ppm. The Certificate of Analysis by ALS, RE13187509 dated October 24, 2014 is available for review.
Said Dr. Sullivan: “The mineralogy and trace element chemistry strongly suggest that tailings from the froth flotation system will not require waste management facilities. As a result, there should be little or no environmental impact on the cost of gold production.”
The Company is currently conducting pilot testing on the WMUs to establish a strategic plan for refining the gold from the tailings.
The Company is actively assembling its flotation technology team and is seeking funding to capitalize the flotation process at full vigor.
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.