The O.T. Mining Corporation Announces its Vision for the Future
BASIN, Mont., Aug. 11, 2011 /PRNewswire via COMTEX/ -- The O.T. Mining
Corporation (OTMN) Executive Vice President of Corporate Development and Chief
Financial Officer, Gary F. Brozowski, recently completed his review of The O.T.
Mining Corporation's ("O.T." or the "Company") assets, operations and mineral
potential and has provided management with the Company's new strategic vision to
better align the Company with its current and future shareholders.
Mr. Brozowski states, "In the beginning the initial reasoning behind an
investment in the Company's shares was the gold and silver potential of the Ruby
Mine area of the Property. However, as the major mining companies left the area
due to poor market conditions, O.T. rushed in, picked up their claims and had new
geological and geophysical reports completed. Attention then shifted to the
enormous potential of the large copper porphyry system located in the northern
portion of the Property, perhaps to the detriment of the original focus on gold
and silver. I believe that the Company should refocus its efforts on the
exploration and potential production of the precious metals at the Ruby Mine as
well as the other targets on the Property while it continues to evaluate options
regarding the porphyry."
O.T. is presently having its technical team review all of the existing data in
order to make a determination and provide an overall cost/benefit analysis for
the potential re-opening of the existing mine and for the exploration and further
delineation of the gold/silver targets. Mr. Brozowski continues by saying, "In
this environment of high precious mineral prices, how can you not take advantage
of this opportunity to bring the Company into possible production? Additionally,
O.T. is no longer satisfied with delineating a resource just to let a major
mining firm come in and scoop it up for a fraction of its true value. We are a
mining company and we will mine wherever we find an economic resource...... the
shareholders have been heard." The Company is also presently evaluating several
financing opportunities and will continue to seek the capital needed to fund the
gold, silver and copper exploration and mining program.
O.T. is a U.S. junior exploration company whose assets consist of 100% ownership
(less a 3% net smelter royalty) of the 21.3 square mile Ruby Property located in
Jefferson County, Montana. The Property covers 21.3 contiguous square miles and
is host to precious gold and silver and multiple base metals - copper, lead,
zinc, cobalt and molybdenum.
Disclaimer: This news release contains certain "Forward-Looking Statements". All
statements, other than statements of historical fact, included herein are
forward-looking statements that involve various 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.
For further information contact:Rosemary L. Christensen, President310 Victoria
Avenue, Suite 103Montreal, Quebec, H3Z 2M9 CanadaTel: (514) 935-2445 Fax: (514)
935-8161E-mail: rchristensen@otmining.com or info@otmining.com Web site:
otmining.com
SOURCE The O.T. Mining Corporation |
