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Additional Information
Market: AIM / TSX-V
Sector: General Mining - Gold
EPIC: OMI
Latest Price: 57.75p  (0.43% Ascending)
52-week High: 87.00p
52-week Low: 44.00p
Market Cap: 45.03M
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Orosur Mining
www.orosur.ca

Orosur Mining Inc. is a gold producer and exploration company focused on identifying and developing gold projects in Latin America. The Company is a fully integrated mining company, possessing the skills necessary to explore and develop its discoveries. The Company operates the only producing gold mine in Uruguay (San Gregorio), and has assembled an exploration portfolio of high quality assets in Uruguay,Chile and Argentina.

Full Orosur Mining profile here
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Orosur Mining and Gladiator Resources tie up option & JV deal over Uruguay prospects

4th Aug 2010, 3:44 pm Orosur and Gladiator join to tap Uruguay's mineral wealth

South American gold producer and explorer Orosur Mining Inc (TSX-V: OMI, LON: OMI) has entered into a definitive option and joint venture agreement with Gladiator Resources Ltd (ASX:GLA) which provides GLA the right to earn up to an 80 percent interest in Orosur’s iron ore, manganese ore and base metals prospects in the Isla Cristalina Belt in Uruguay.

Orosur CEO David Fowler stated: “Gladiator Resources’ initial due diligence on the Isla Cristalina Iron Project has confirmed the potential for the development of a pig iron operation. Drilling and feasibility work are expected to commence this month. Orosur will not be required to invest further funds in the project until feasibility studies have been completed. We look forward to results of this work over the coming year.”

The group first announced the Option Agreement in January 2010 and in May advised that GLA would exercise the option.

The definitive agreement has now been executed and accordingly will issue fully paid shares with a market value of A$100,000 to Orosur.

GLA will earn a 20 percent interest in the assets by expending US$1,000,000 on work programs. GLA may at its discretion earn a further 31 percent by expending a further US$4,000,000, taking its interest to 51 percent. A further 29 percent may be earned by GLA by producing a bankable feasibility study on or before 31 December 2015.

Orosur will retain the mineral rights to gold, silver and diamonds within the project area.

Orosur is focused on identifying and developing gold projects in Latin America. It operates the only producing gold mine in Uruguay, San Gregorio, and has assembled an exploration portfolio of high quality assets in Uruguay and Chile.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.