ORS Orestone Mining Corp

Orestone Mining Corp. (TSX VENTURE:ORS) ("the Company") is pleased to provide
the following corporate update and outline plans for the coming field season.


With the change in the Company's management team in June 2011, Orestone changed
its focus and initiated a strategic plan prioritizing exploration efforts on its
100% owned Captain Project, located 43 kilometers north of Fort St. James,
British Columbia. This was due to our belief that the project has the potential
to host a large copper/gold system similar to the neighboring Mt. Milligan Mine
being developed by Thomson Creek Metals Inc., approximately 30 kilometers to the
north.


The 532 metric tonne Mt. Milligan Deposit has proven and probable reserves
containing 6.0 million ounces of gold and 2.1 billion pounds of copper and is
currently under construction at a cost of $1.4 to $1.5 billion as a large open
pit mine and processing facility.


To assist in this effort the Company formed an Advisory Board and appointed Mr.
Rob Pease. Mr. Pease was previously the founder, CEO and a Director of Terrane
Metals Corp., guiding the company and the Mt. Milligan Project from development
through to its purchase by Thompson Creek Metals in 2010 for $700 million
dollars.


With the goal of proving the existence of a similar mineralized system, we first
outlined its aerial extent through a series of geophysical surveys consisting of
31 line kilometers of Ground Magnetometer, Induced Polarization Chargeability
and Resistivity. The resulting data indicates an altered/mineralized porphyry
system in excess of 50 square kilometers in size that extends beyond the
boundaries of the surveys. Three large, distinct drill target areas are
indicated that measure one by two and a half kilometers, one by three kilometers
and one by four and a half kilometers in size (1x2.5 km, 1x3 km and 1x4.5 km).


In December of 2011, the Company completed a $736,500 financing through the
issuance of 7,365,000 shares at $0.10 per share.


The next goal was to make a drill discovery as the area is covered by a thin
veneer of glacial till 20 to 40 meters thick and in December of 2011 the Company
initiated a four-hole, 1,240 meter diamond drill program utilizing HQ sized
core.


Hole C11-02 was drilled to a depth of 185 metres at the eastern edge of a
magnetic high, intersecting a monzonite intrusive, minor pyrite. Hole C12-01 was
drilled 400 metres east of hole C11-02 to a depth of 499 metres, intersecting
sericite-pyrite-quartz-carbonate over 250 metres or the pyritic halo, outer
phyllic shell around the porphyry. Hole C11-01 was drilled 400 metres east of
hole C12-01 to a depth of 255 metres, intercepting highly
potassic-sericite-carbonate altered volcanic rocks, porphyry dykes and
hydrothermal breccia with gold/copper mineralization.


Assays from hole C11-01 returned an intercept of 87 metres from 127 metres
grading 0.230 g/t gold and 0.03% copper, including 43 metres grading 0.298 g/t
gold and 0.09% copper and 16 metres grading 0.434 g/t gold and 0.133% copper
thus validating the target (see Company news release dated February 23, 2012).


Next, a microscopic petrographic analysis of core samples from hole C11-01 was
conducted with the results showing an alteration assemblage consisting of very
fine-grained anchorite-potassium feldspar with minor kaolinite-sericite and
abundant magnetite-hematite, overprinted in part by coarse-grained potassium
feldspar. Fine-grained chalcopyrite, associated with magnetite and pyrite, is
disseminated throughout the core interval. This gold/copper mineralized
alteration assemblage coupled with the geophysical signature indicates a high
temperature environment near an intrusive source and open for several kilometers
to the east, northeast and southeast.


The Company plans to start outlining the size and grade of this porphyry system
during the 2012 exploration season with an initial 2,000 to 4,000 meters of
drilling. The Company has all permits in place to facilitate the planned program
and currently has 30 sites approved for drilling by the B.C. Ministry of Energy
and Mines.


The Captain Project area features relatively flat terrain, moderate tree cover
and an extensive network of logging and Forest Service roads.


"This will be an exciting year for Orestone Mining as we get the drilling season
underway with a multi-phase program at the Captain gold/copper project and begin
to outline its potential," stated David Hottman, Orestone's President and CEO.


Orestone Mining Corp. is a Canadian based company that controls a portfolio of
gold and gold-copper exploration projects totaling more than 700 square
kilometers within B.C., Canada. Please visit www.orestone.ca.


ON BEHALF OF ORESTONE MINING CORP.

David Hottman, President and CEO

This news release has been prepared by management and no regulatory authority
has approved or disapproved the information contained here.

Orestone Mining (TSXV:ORS)
Historical Stock Chart
From Jan 2025 to Feb 2025

Orestone Mining (TSXV:ORS)
Historical Stock Chart
From Feb 2024 to Feb 2025