2012-11-20 14:37:37 -
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/20/12 -- Oro Mining Ltd. ("Oro Mining" or the "Company") announced today that it has received Mexican federal government approval of its Environmental Impact Statement (MIA), and has commenced pre-construction activities on its 100% owned La Trinidad project. Construction is planned to have a duration of ten months with gold production shortly thereafter. Also, the Board of Directors have approved a name change of the Company from Oro Mining Ltd. to Marlin Gold Mining Ltd. (TSX VENTURE:MLN) ("Marlin Gold"), marking a new era for the Company. Effective immediately, the outstanding common shares will trade under the stock symbol "MLN" on the TSX Venture Exchange. The new CUSIP number for the Company's shares is 571175108. A new website is being designed and when ready will be available at www.marlingold.com.
"I would like to congratulate the Marlin Gold team for their significant accomplishment in receiving these permits. The approval of the MIA allows Marlin Gold to commence construction with the goal of producing gold during early 2014," said John Brownlie, CEO of Marlin Gold. "With a current cash balance of approximately $6 million and no debt, and with the continuing support of our majority shareholder, Marlin Gold has no financial constraints to develop the La Trinidad project. We look forward to the new era of Marlin Gold, and on becoming Mexico's next gold producer."
About Marlin Gold
Marlin Gold is a publicly-listed company on the TSX Venture Exchange with properties located in Sinaloa and Zacatecas, Mexico. Marlin Gold's priority is to advance its properties toward production. The La Trinidad property, which hosts the Taunus gold deposit, continues to be the priority focus of Marlin Gold's development activities. A complete NI 43-101 resource estimate and preliminary economic assessment for the Taunus deposit can be found at www.sedar.com : www.sedar.com or at www.marlingold.com.
Except for statements of historical fact, this news release contains certain 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities laws including statements regarding proposed construction at the La Trinidad Project and statements concerning the anticipated timing of completing construction and commencing production. Such forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to known and unknown risks, uncertainties and assumptions that could cause actual results to vary materially from the anticipated results or events predicted in these forward-looking statements, including those risks and uncertainties identified in the Company's Annual MD&A filed under the Company's SEDAR profile. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this release. Except as required by applicable law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Marlin Gold Mining Ltd.