Oracle Mining Corp. ("Oracle Mining" or the "Corporation") (TSX:OMN)(OTCQX:OMCCF)(PINKSHEETS:OMCCF)(FRANKFURT:OMC) is pleased to announce that Doug Nicholson has joined the Corporation as Chief Operating Officer, effective February 1, 2012.
Mr. Nicholson will lead the Oracle Mining operations team in the re-start of the Oracle Ridge Copper Mine near Tucson, Arizona. He has extensive experience in the construction and management of mining operations in North America and will also be directly involved in all aspects of the Corporation's strategic planning and business development.
"Doug has an outstanding track record of achievements, he brings a wealth of experience in operations management and professional acumen to our company," said Mr. Paul Eagland, Oracle Mining's CEO. "He is an excellent addition to the Oracle Mining team and will play a key role in achieving our goal of re-starting the Oracle Ridge Copper Mine."
Prior to joining Oracle Mining, Mr. Nicholson worked with NovaGold Resources Inc. and served as President of Donlin Gold LLC, a 50/50 joint venture between NovaGold and Barrick Gold Corp., assuming that role during nine years of service between 2002 and 2011. At Kinross Gold from 1992-2002, he was responsible for scoping, scheduling, developing mine plans and staffing for the Fort Knox Mine. He holds a BSc. in Mining Engineering from the University of Alaska, Fairbanks.
The Board of Directors has also approved and granted stock options to Mr. Nicholson. Options were granted to purchase 200,000 common shares in the capital of the Corporation, exercisable for a period of five years at a price of $1.12 per share and subject to the terms and conditions of the Company's Stock Option Plan and Toronto Stock Exchange approval. The common share stock options vest one-third immediately upon the date of grant, one-third will vest 12 months from the date of grant and the final one-third of the options will vest 24 months from the date of grant.
LOAD THE BOAT
