Oracle Mining Signs Term Sheet With Credit Suisse AG for Up to US$70 Million


Mar 12, 2012: Vancouver, B.C. – Oracle Mining Corp. (Stock Profile – TSX:OMN & OTCQX:OMCCF) announced it has entered into a non-binding, indicative term sheet for project financing with Credit Suisse AG for a secured term loan of up to US$70 million. Upon completion, the loan will be used to advance its Oracle Ridge Copper Mine re-start project in Arizona, USA.

“We are pleased to initiate the relationship with Credit Suisse for a key component of the financing of Oracle Ridge,” said Mr. Paul Eagland, Oracle Mining’s Chief Executive Officer. “Once put in place, the loan facility is expected to expedite Oracle Mining’s re-start of the Oracle Ridge Copper Mine.”

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