Last checked at 7 Jul 2010 07:00
Orosur Mining Inc. and Gladiator Resources Limited extend date on Definitive Agreement
Orosur Mining Inc. ("OMI" or the "Company") (TSX-V: OMI) (LSE: OMI) refers to the announcement made on January 11, 2010, when it advised that it entered into an Option Agreement with Gladiator Resources Limited ("Gladiator") which provides Gladiator with the right to earn up to an 80% interest in the Iron Ore, Manganese Ore and Base Metals Prospects in the Isla Cristalina Belt in Uruguay.
The Option was exercised subject to the execution of a Definitive Agreement and the presentation of a report detailing the farm-in join venture arrangements.
OMI and Gladiator have now agreed to extend the date for execution of the Definitive Agreement to 31 July 2010 to allow for the agreements to be finalised.
Upon execution of the Definitive Agreement, Gladiator will issue AUD$ 100,000 worth of fully paid shares to OMI at market value, calculated over the preceding five day trading period.
ENDS
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Orosur Mining
Orosur Mining Inc. is a fully integrated gold producer and exploration company focused on identifying and developing gold projects in Latin America. The Company operates the only producing gold mine in Uruguay (San Gregorio), and has assembled an exploration portfolio of high quality assets in Uruguay and Chile.
The Company is quoted in Canada (TSX Venture Exchange: OMI) and London (AIM:OMI).
Orosur Mining Inc David Fowler, CEO:Ignacio Salazar, CFO + 598 2 6016354; info@orosur.ca
Matrix Corporate Capital LLP Louis Castro, +44 (0) 203 206 7209Tim Graham, +44 (0) 203 206 7206
In North America Forbes West 416-203-2200 / 888-655-5532
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