FSC / Press Release
Oromonte Resources Inc. Completes Signing of Placer Gold Deposit Joint Venture in Nambija
Calgary, Alberta CANADA, April 20, 2006 /FSC/ - Oromonte Resources Inc. (ORR - TSX Venture), Oromonte Resources Inc. (the "Corporation"), a Canadian corporation with offices in Calgary, Alberta, and Loja, Ecuador, is pleased to announce that it has concluded the signing of a joint venture on a placer gold deposit adjacent to it's Namibija project.
The Joint Venture will have Oromonte's Ecuadorian subsidiary provide all the operational and management requirements to run it. Oromonte will retain 75 percent of the net profits from the operation.
"We are pleased to announce this Joint Venture as it represents another significant step in the Nambija project. We expect it will take six months to complete the plant set up and other aspects of the operation. There are other successful placer operations nearby and. our partners are some prominent local Ecuadorians." With a small capital investment of under $200,000 US we are able to establish this production," says Peter Barker, CEO and Director of the Corporation. "In the meantime, we are proceeding with our 2000 meter drilling program on the Nambija property. We expect to complete it by the end of June based on current progress."
For more information contact:
Peter Barker, CEO
Oromonte Resources Inc.
Suite 223 - 2451 Dieppe Avenue SW
Calgary, AB Canada T3E 7K1
Ph: 403-299-0357 Fax: 403-216-9260
E-mail: contactus@oromonte.com
Please visit our website at http://www.oromonte.com/
CAUTIONARY STATEMENT
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the information contained in this news release. No stock exchange, securities commission or other regulatory authority has approved nor disapproved the information contained herein. The News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Oromonte, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Oromonte's expectations are exploration risks detailed herein and from time to time in the filings made by Oromonte with securities regulations.
Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and Dilution. There is no certainty that inferred resources will be converted to measured and indicate through further drilling or into mineral reserves once economic considerations are applied.
Maximum News Dissemination by Filing Services Canada Inc.
Ph: (403) 717-3898 Fx: (403) 717-3896 www.usetdas.com |