FSC / Press Release
Oromonte Resources Inc. signs Letter of Intent on Joint Venture Placer Operation near its Nambija Property
Calgary, Alberta CANADA, January 23, 2006 /FSC/ - Oromonte Resources Inc. (ORR - TSX Venture), a Canadian corporation with offices Calgary, Alberta and Loja, Ecuador, is pleased to announce it has signed a letter of intent to jointly develop and operate a Gold Placer operation close to its Nambija Property .
The company will use some of the proceeds of the private placement planned to close on January 23,2006 for the acquisition and development of this Joint Venture of a Placer Deposit in Nambija.
"We are pleased with prospects of this project as it will be in operation shortly after the finalization of the venture and provide revenues to Oromonte by early summer. Oromonte is completing this venture with a private Ecuadorian Company. We expect to announce the final details of the venture in the next month. In the meantime the company will commence its 2000 meter drilling program at the end of January." says Peter Barker, Director of the Corporation.
For more information contact:
Peter Barker
CEO, Oromonte Resources Inc.
Suite 223 - 2451 Dieppe Avenue SW
Calgary, AB Canada T3E 7K1
phone: 403-299-0357 Fax: 403-216-9260
E-mail: contactus@oromonte.com
Visit our website at Oromonte Resources Inc.
CAUTIONARY STATEMENT
The TSX Venture Exchange does not accept responsibility for the adequacy of this 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.
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