Oracle Mining Signs Indicative Term Sheet for Minimum US$6.5 Million and Maximum US$7.5 Million Secured Convertible Loan and up to CAD$20 Million Future Project Financing - Seite 4

Pursuant to the provisions of the Rich Stone Debt a total of 46,636,036 common shares (the "Rich Stone Shares"), representing approximately 95% of the common shares of the Corporation, will be issuable.

Management and Board changes

Pursuant to the Loan transaction, Vincere will have the right to appoint one member of the Corporation's board of directors immediately after Closing of the Loan. In addition, upon exercise of the Partial Warrant, Vincere will have the right to nominate additional individuals to serve as members of Subco's board of directors.

Since acquiring the Oracle Ridge Project in September 2010, Oracle Mining has completed surface and underground drill programs, undertaken metallurgical, engineering and environmental studies, and secured a number of key permits that will be necessary to enable the Oracle Ridge Project to advance.

This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

TSX Approval

Pursuant to the provisions of the Rich Stone Debt and the Loan together a total of 78,346,049 common shares, representing approximately 160% of the currently outstanding common shares of the Corporation, will be issuable. Further, if the Rich Stone Shares are issued (regardless of whether the Vincere Shares are issued), Rich Stone will beneficially own greater than 20% of the then outstanding common shares which, pursuant to the TSX rules, represents a material effect on control of the Company.

As the common shares being made issuable is greater than 25% of the currently outstanding common shares of the Corporation and their issuance will have a material affect on control of the Corporation, TSX is requiring the Corporation to seek shareholder approval. Pursuant to section 604 (a) of the TSX Company Manual, the Corporation is planning to seek such shareholder approval by way of written consent resolution.

There are no common shares issuable to non-arm's length parties of the Corporation.

About Oracle Mining Corp.

Oracle Mining Corp. (TSX: OMN) (FRANKFURT: OMC) is a Vancouver, Canada-based corporation that is the sole owner and operator of Oracle Ridge Mining LLC and the Oracle Ridge copper project located 24 km northeast of Tucson, Arizona. Oracle Mining is managed by an experienced team of mining professionals with extensive operating and financial experience.