Oracle Mining Corp. (fka OMCCF)

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

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Oracle Mining Corp. (TSX:OMN)(OTCQX:OMCCF)(PINKSHEETS:OMCCF)(FRANKFURT:OMC)
("Oracle Mining" or the "Corporation") is pleased to announce that it has entered into a non-binding, indicative term sheet (the "Term Sheet") for project financing with Credit Suisse AG ("Credit Suisse") for a secured term loan of up to US$70 million (the "Loan Facility") in order 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."

Entering into the Loan Facility remains subject to a number of conditions, including due diligence and the receipt of internal credit committee approvals by Credit Suisse, and the negotiation and execution of definitive documentation.