ORS Orestone Mining Corp

Orestone Mining Corp. (TSX VENTURE:ORS) (the "Company") is pleased to announce
that the non-brokered private placement announced on September 25th and amended
September 27th and October 10th, 2012 has closed. The Company has issued
15,875,000 units ("Units") at a price of $0.10 per Unit and 3,300,000 units
("Flow-Through Units") at a price of $0.125 per Flow-Through Unit for aggregate
gross proceeds of $2,000,000 (the "Private Placement"). Each Unit consisted of
one common share of the Company and one-half of one common share purchase
warrant (each whole common share purchase warrant, an "A Warrant"). Each A
Warrant is exercisable for one common share of the Company at a price of $0.15
until October 23, 2013. Each Flow-Through Unit consisted of one common share of
the Company issued on a "flow-through" basis pursuant to the Income Tax Act
(Canada) and one-half of one common share purchase warrant (each whole common
share purchase warrant, a "B Warrant"). Each B Warrant is exercisable for one
common share of the Company at a price of $0.17 until October 23, 2013.


The Company has paid to certain arm's length finders a fee of 7 per cent of the
aggregate gross proceeds of the Private Placement consisting of $73,325 in cash
and 220,500 units of the Company, each finder's unit consisting of one common
share of the Company and one half of one non-transferable common share purchase
warrant (each whole warrant, a "Finder's Unit Warrant"). The Finder's Unit
Warrants entitle the holders thereof to purchase one common share of the Company
at an exercise price of $0.15 or $0.17 as the case may be, until October 23,
2013. In addition, the Company has issued 931,000 non-transferable finder's
warrants ("Finder's Warrants") representing an amount equal to 7 per cent of the
aggregate number of Units and/or Flow-Through Units sold to subscribers
introduced to the Company by such finder, each Finder's Warrant entitling the
holder thereof to acquire one common share of the Company at an exercise price
of $0.10 or $0.125, respectively, until October 23, 2013.


All securities issued under the Private Placement, including the common shares
issuable pursuant to the exercise of the A Warrants, B Warrants, Finder's Unit
Warrants and Finder's Warrants, will be subject to a four-month hold period
which will expire on February 24, 2013.


The net proceeds of the Private Placement will be used for exploration and
development of the Company's mineral property portfolio and for general
corporate purposes.


Within British Columbia, Canada, Orestone has recently discovered a large
copper/gold porphyry system on the 100% owned Captain Project and is seeing
increased interest in the Stewart Mining Camp where the Company's 50 square
kilometer Todd Creek (51%) asset is located. In addition, the Company has
initiated a global project search focused on the acquisition of high potential
assets to compliment the Company's current portfolio. For additional information
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 herein.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Orestone Mining Corp.
David Hottman
President & CEO
604-629-1929
info@orestone.ca
www.orestone.ca

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