BASIN, Mont., Aug. 11, 2011 /PRNewswire/ -- The O.T. Mining
Corporation (Pink Sheets: 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,
President
310 Victoria Avenue, Suite 103
Montreal, Quebec, H3Z 2M9
Canada
Tel: (514) 935-2445 Fax: (514) 935-8161
E-mail: rchristensen@otmining.com or info@otmining.com
Web site: www.otmining.com
SOURCE The O.T. Mining Corporation