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Mon, November 23, 2009
Sun, November 22, 2009
Fri, November 20, 2009
Oromin Explorations Ltd.: Clarification of Sabodala Mineral Resources
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 20, 2009) - In its news releases dated September 9, 2009 and October 19, 2009 and material change reports dated September 15, 2009 and October 21, 2009, Oromin Explorations Ltd. (TSX:OLE)(OTCBB:OLEPF) ("Oromin") reported that its Sabodala Property contained a global mineral inventory of almost 3 million ounces of gold.
This disclosure is not permitted by NI 43-101 and Oromin hereby retracts reference to the global mineral inventory. As previously disclosed, the following estimated indicated and inferred mineral resources were contained within the global mineral inventory:
| Higher Grade Au Deposits | Indicated Mineral Resource Estimate | |||
| Deposit | Cut-off Grade (Au g/t) | Tonnes | Grade (Au g/t) | Contained Au (oz) |
| Golouma West | 0.5 | 6,100,000 | 2.60 | 505,000 |
| Golouma South | 0.5 | 2,220,000 | 4.20 | 297,000 |
| Kerekounda | 1.0 | 744,000 | 6.90 | 164,000 |
| Total Indicated Mineral Resource Estimate | 9,064,000 | 3.34 | 966,000 | |
| Inferred Mineral Resource Estimate | ||||
| Golouma West | 0.5 | 502,000 | 3.00 | 48,000 |
| Golouma South | 0.5 | 13,000 | 3.50 | 1,000 |
| Kerekounda | 1.0 | 244,000 | 6.10 | 48,000 |
| Total Inferred Mineral Resource Estimate | 759,000 | 4.01 | 97,000 | |
| Lower Grade Au Deposits | Indicated Mineral Resource Estimate | |||
| Deposit | Cut-off Grade (Au g/t) | Tonnes | Grade (Au g/t) | Contained Au (oz) |
| Masato | 0.5 | 32,800,000 | 1.20 | 1,220,000 |
| 1.0 | 15,900,000 | 1.60 | 810,000 | |
| Niakafiri SE | 0.00 | |||
| Maki Medina | 0.00 | |||
| Total Indicated Mineral Resource Estimate @ 0.5 COG | 32,800,000 | 1.20 | 1,220,000 | |
| Inferred Mineral Resource Estimate | ||||
| Masato | 0.5 | 1,535,000 | 1.40 | 71,000 |
| 1.0 | 1,000,000 | 1.90 | 60,000 | |
| Niakafiri SE | 0.5 | 4,350,000 | 0.90 | 119,000 |
| Maki Medina | 0.5 | 1,500,000 | 1.50 | 70,000 |
| Total Inferred Mineral Resource Estimate @ 0.5 COG | 7,385,000 | 1.13 | 260,000 | |
The balance of the ounces reported in the global mineral inventory reported by SRK Consulting are not considered to be indicated or inferred mineral resources as it is not known at this time whether such material has a reasonable prospect for economic extraction.
The foregoing resource estimate was calculated by SRK Consulting based on drilling up to May 2009 which included diamond core holes up to DH-475 and reverse circulation holes up to RC-625. Since that date, Oromin has completed an additional 125 diamond core holes and a further 30 reverse circulation holes. The objective of the bulk of these 155 new drill holes is to add additional resources and upgrade current resources at the Kerekounda, Golouma West, Golouma South and Epsilon deposits, all of which are categorized as higher grade gold deposits.
A revised and updated resource estimate is scheduled for completion in the second quarter of 2010 and will incorporate these new drilling results as well as additional drilling completed by the end of the first quarter of 2010.
On behalf of the Board of Directors of
OROMIN EXPLORATIONS LTD.
"Chet Idziszek"_________
Chet Idziszek, President
Cautionary Statement
This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, estimates of exploration investment and the scope of exploration programs. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with public markets, mineral exploration, price volatility in the mineral commodities we seek, and operational and political risks. Readers are advised not to place undue reliance on forward-looking statements.