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Abstract
Oromin Explorations Ltd., ("Oromin"), on behalf of Oromin Joint Venture Group Ltd., ("OJVG") is pleased to provide an update from its 2011 exploration drilling program at the OJVG Gold Project in eastern Senegal, West Africa. Current drilling plans for 2011 include: broader-spaced lateral and depth extension drilling at the Project's five primary gold deposits, namely Golouma West, Golouma South, Kerekounda, Kourouloulou and Masato; follow-up drilling at recent discoveries including Kinemba and Koutouniokolla; and initial drilling evaluation at many of OJVG's new prospects including Saboraya, Kourouloulou South and Mankana.(see attached map for locations).
Chet Idziszek, Oromin's President and CEO, stated, "The first three months of 2011 have proven to be extremely busy and exciting times for our company. Although we are nearing completion of mineral resource updates on nine deposits, our ongoing resource expansion drill program is continuing with great success. New results from the Golouma South and Kerekounda deposits have confirmed down dip depth continuity of mineralization from surface to 450 and 550 metres respectively, which remains open to further expansion. Drilling has also confirmed three new discoveries at Saboraya, Kourouloulou South and Golouma West Extension, all of which are in close proximity to the main Golouma Deposits. Furthermore, results from column leach test-work being conducted for the Heap Leach Preliminary Economic Assessment ("PEA") have provided favourable recoveries which should enhance this new opportunity. We are also pleased that the Government of Senegal has recently granted OJVG an additional year of tax holiday increasing the period from seven years to eight."
Concurrent with SRK's resource estimate, DRA Americas Inc. ("DRA") is nearing completion of updates to its previous mineral resource estimates (see September 22, 2010 news release) for 4 bulk tonnage deposits: Niakafiri Southeast, Niakafiri Southwest, Kobokoto and Maki Medina. Ausenco Solutions Canada Inc. and SRK are currently completing a PEA of the viability of a stand-alone heap leach operation employing the DRA updated Resource. In addition, SRK is evaluating mineralized material that was previously designated as waste within the Masato design pit because it was less than the 0.7 g/t Au Masato Carbon-in-Leach ("CIL") reserve cut-off grade used in the 2010 Feasibility Study. Now, any mineralized material within the previously classified waste zone of the proposed 2010 Masato design pit above a 0.2 g/t Au cut off grade and below the 0.7 g/t CIL cut-off grade will be designated for heap leach processing in the PEA. None of the foregoing was included in OJVG's 2010 Feasibility Study.