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Oracle Mining Intercepts 47 Feet of 2.2% Copper in New Drilling; Additional Underground Holes Intercept 22.5 Feet of 2.4% Copper and 47.0 Feet of 2.0% Copper

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/31/13 -- Oracle Mining Corp. (TSX:OMN)(OTCQX:OMCCF)(FRANKFURT:OMC) ("Oracle Mining" or the "Corporation") is pleased to announce assay results from its ongoing core drilling program. The assay results include seven additional underground drill hole results from drilling at the Oracle Ridge Copper Mine, located in southern Arizona.

The assay results disclosed by the Corporation to date are consistent with historical data. These holes were drilled as part of Oracle Mining's ongoing drilling program, the results of which will be included in a National Instrument 43-101 ("NI 43-101") compliant resource estimation. The Corporation is analyzing the samples for a full suite of elements and have identified silver and gold as potential by-products.

Surface drill hole ODH-044 encountered an interval of 47.2 feet of 2.21% copper, including within that interval 10.0 feet of 3.92% copper and 0.9 oz/ton silver. Underground drill hole OUH-07 encountered an interval of 47.0 feet of 2.07% copper, including within that interval 10.0 feet of 4.85% copper and 1.05 oz/ton silver.

Oracle Mining has posted an updated diagram of all drill hole locations of these reported assay results at http://www.oracleminingcorp.com/_resources/images/2013_January_skarn.pdf.

The following tabulates the intervals obtained from this phase of the drilling program:

----------------------------------------------------------------------------
                                        Au    Ag                            
            From     To  Width   Cu    (oz/  (oz/                           
Hole       (feet) (feet) (feet)  (%)   ton)  ton)    Zone Formation
----------------------------------------------------------------------------
ODH-034    267.0  301.0   34.0 1.30  0.002  0.32        6 Escabrosa
----------------------------------------------------------------------------
Includes   276.0  286.0   10.0 1.72  0.003  0.44        6 Escabrosa
----------------------------------------------------------------------------
ODH-034    311.0  321.0   10.0 1.80  0.003  0.61        6 Escabrosa
----------------------------------------------------------------------------
ODH-035     42.0   49.5    7.5 3.98  0.026  2.00        6 Escabrosa
----------------------------------------------------------------------------
ODH-035    394.0  400.0    6.0 1.49  0.001  0.36        6 Escabrosa
----------------------------------------------------------------------------
ODH-036     41.2   48.0    6.8 3.05  0.015  1.91        6 Escabrosa
----------------------------------------------------------------------------
ODH-037    167.0  178.0   11.0 2.65  0.009  1.58        2 Martin
----------------------------------------------------------------------------
ODH-037    228.0  235.0    7.0 1.80  0.002  0.57        2 Martin
----------------------------------------------------------------------------
ODH-037    271.0  350.0   79.0 1.68  0.004  0.61        1 Abrigo
----------------------------------------------------------------------------
ODH-038    164.5  179.5   15.0 2.81  0.007  0.81        2 Martin
----------------------------------------------------------------------------
ODH-038    188.0  198.0   10.0 0.94  0.002  0.28        2 Martin
----------------------------------------------------------------------------
ODH-038    248.0  274.0   26.0 1.81  0.006  0.51        1 Abrigo
----------------------------------------------------------------------------
includes   264.0  274.0   10.0 2.71  0.008  0.68        1 Abrigo
----------------------------------------------------------------------------
ODH-038    289.0  319.0   30.0 2.06  0.005  0.59        1 Abrigo
----------------------------------------------------------------------------
includes   299.0  314.0   15.0 2.83  0.007  0.81        1 Abrigo
----------------------------------------------------------------------------
ODH-040    185.1  191.4    6.3 5.21  0.018  1.36        2 Martin
----------------------------------------------------------------------------
ODH-040    216.0  225.0    9.0 1.56  0.006  0.48        2 Martin
----------------------------------------------------------------------------
ODH-040    288.0  302.7   14.7 1.54  0.005  0.41        2 Martin
----------------------------------------------------------------------------
includes   298.0  302.7    4.7 2.28  0.008  0.66        2 Martin
----------------------------------------------------------------------------
ODH-040    321.0  359.0   38.0 2.10  0.008  0.77        1 Abrigo
----------------------------------------------------------------------------
includes   321.0  325.5    4.5 5.54  0.034  2.52        1 Abrigo
----------------------------------------------------------------------------
includes   350.0  359.0    9.0 2.92  0.010  1.08        1 Abrigo
----------------------------------------------------------------------------
ODH-040    402.5  410.0    7.5 1.71  0.001  0.15        1 Abrigo
----------------------------------------------------------------------------
ODH-041    231.0  239.0    8.0 1.24  0.002  0.40        6 Escabrosa
----------------------------------------------------------------------------
ODH-041    329.5  334.5    5.0 1.43  0.004  1.00        6 Escabrosa
----------------------------------------------------------------------------
ODH-041    458.0  463.0    5.0 1.12  0.001  0.23        6 Escabrosa
----------------------------------------------------------------------------
ODH-042    225.6  262.4   36.8 2.68  0.009  0.66        2 Martin
----------------------------------------------------------------------------
Includes   233.0  241.0    8.0 4.39  0.015  1.02        2 Martin
----------------------------------------------------------------------------
Includes   250.0  260.0   10.0 4.09  0.014  1.05        2 Martin
----------------------------------------------------------------------------
ODH-042    314.0  328.0   14.0 1.51  0.010  0.37        2 Martin
----------------------------------------------------------------------------
ODH-042    353.5  379.5   26.0 1.56  0.007  0.57        1 Abrigo
----------------------------------------------------------------------------
includes   358.0  363.0    5.0 2.77  0.014  1.09        1 Abrigo
----------------------------------------------------------------------------
ODH-042    415.5  437.0   21.5 2.05  0.009  0.32        1 Abrigo
----------------------------------------------------------------------------
ODH-043    189.0  194.5    5.5 3.05  0.019  0.74        2 Martin
----------------------------------------------------------------------------
ODH-043    217.7  232.0   14.3 2.32  0.007  0.54        2 Martin
----------------------------------------------------------------------------
ODH-043    290.0  350.0   60.0 1.91  0.010  0.64      2/1 Martin/Abrigo
----------------------------------------------------------------------------
ODH-043    364.0  404.0   40.0 1.40  0.006  0.58        1 Abrigo
----------------------------------------------------------------------------
includes   379.0  384.0    5.0 1.84  0.008  0.84        1 Abrigo
----------------------------------------------------------------------------
ODH-044     66.0   73.0    7.0 1.95  0.011  0.59        4 Escabrosa
----------------------------------------------------------------------------
ODH-044    138.8  186.0   47.2 2.21  0.016  0.48        2 Martin
----------------------------------------------------------------------------
includes   166.0  176.0   10.0 3.92  0.039  0.90        2 Martin
----------------------------------------------------------------------------
ODH-045     87.0   92.0    5.0 2.98  0.016  0.74        4 Escabrosa
----------------------------------------------------------------------------
ODH-045    167.7  210.0   42.3 2.20  0.012  0.42        2 Martin
----------------------------------------------------------------------------
ODH-045    246.0  256.4   10.4 1.73  0.012  0.30        2 Martin
----------------------------------------------------------------------------
ODH-045    280.4  293.0   12.6 1.07  0.008  0.21        2 Martin
----------------------------------------------------------------------------
ODH-046     60.5   65.2    4.7 1.64  0.005  0.41        4 Escabrosa
----------------------------------------------------------------------------
ODH-046    119.5  172.9   53.4 1.49  0.007  0.37        2 Martin
----------------------------------------------------------------------------
Includes   136.0  146.0   10.0 2.08  0.008  0.48        2 Martin
----------------------------------------------------------------------------
Includes   159.0  172.9   13.9 2.34  0.014  0.59        2 Martin
----------------------------------------------------------------------------
ODH-049    128.0  133.0    5.0 1.05  0.002  0.23        2 Martin
----------------------------------------------------------------------------
ODH-049    158.0  163.0    5.0 1.63  0.007  0.30        2 Martin
----------------------------------------------------------------------------
ODH-049    167.0  179.8   12.8 1.68  0.012  0.40        2 Martin
----------------------------------------------------------------------------
includes   167.0  172.0    5.0 2.45  0.016  0.66        2 Martin
----------------------------------------------------------------------------
ODH-049    264.0  279.0   15.0 1.74  0.006  0.57        2 Abrigo
----------------------------------------------------------------------------
ODH-050    163.0  177.2   14.2 1.50  0.004  0.30        2 Martin
----------------------------------------------------------------------------
ODH-050    237.0  262.0   25.0 1.88  0.007  0.49        1 Abrigo
----------------------------------------------------------------------------
ODH-050    282.0  312.0   30.0 2.00  0.006  0.50        1 Abrigo
----------------------------------------------------------------------------
ODH-051    288.0  303.0   15.0 0.90  0.000  0.19        2 Martin
----------------------------------------------------------------------------
ODH-051    313.0  328.0   15.0 1.61  0.001  0.33        1 Abrigo
----------------------------------------------------------------------------
ODH-051    343.0  378.0   35.0 2.05  0.001  1.02        1 Abrigo
----------------------------------------------------------------------------
OUH-02     375.5  400.0   24.5 1.97  0.006  0.59        4 Escabrosa Ext East
----------------------------------------------------------------------------
includes   380.0  390.0   10.0 2.64  0.008  0.79        4 Escabrosa Ext East
----------------------------------------------------------------------------
OUH-02     472.0  484.0   12.0 1.68  0.001  0.26        2 Martin Ext East
----------------------------------------------------------------------------
OUH-02     518.0  542.0   24.0 2.14  0.011  0.68        2 Martin Ext East
----------------------------------------------------------------------------
includes   535.5  542.0    6.5 3.21  0.017  0.84        2 Martin Ext East
----------------------------------------------------------------------------
OUH-03     154.0  172.5   18.5 0.99  0.002  0.36        6 Escabrosa
----------------------------------------------------------------------------
includes   154.0  158.0    4.0 1.46  0.002  0.35        6 Escabrosa
----------------------------------------------------------------------------
OUH-03     193.8  199.7    5.9 3.36  0.002  0.62 New Zone Escabrosa
----------------------------------------------------------------------------
OUH-03     413.3  418.0    4.7 1.65  0.000  0.03        5 Escabrosa
----------------------------------------------------------------------------
OUH-04     294.8  304.9   10.1 1.62  0.001  0.45        5 Endoskarn
----------------------------------------------------------------------------
OUH-05     298.0  304.5    6.5 1.95  0.001  0.34        5 Escabrosa
----------------------------------------------------------------------------
OUH-05     334.0  346.0   12.0 1.91  0.004  0.47        5 Escabrosa
----------------------------------------------------------------------------
OUH-05     449.5  472.0   22.5 2.40  0.001  0.53  5 Lower Escabrosa
----------------------------------------------------------------------------
includes   467.0  472.0    5.0 4.76  0.001  1.06  5 Lower Escabrosa
----------------------------------------------------------------------------
OUH-06     325.0  335.0   10.0 1.75  0.004  0.80        5 Escabrosa
----------------------------------------------------------------------------
OUH-06     355.0  360.0    5.0 2.16  0.001  0.39        5 Escabrosa
----------------------------------------------------------------------------
OUH-07     172.0  194.0   22.0 0.94  0.010  0.72        4 Escabrosa
----------------------------------------------------------------------------
includes   172.0  174.2    2.2 1.53  0.006  0.63        4 Escabrosa
----------------------------------------------------------------------------
OUH-07     282.1  355.6   73.5 1.54  0.005  0.56        5 Escabrosa
----------------------------------------------------------------------------
OUH-07     448.0  495.0   47.0 2.07  0.007  0.62  5 Lower Escabrosa
----------------------------------------------------------------------------
includes   465.0  475.0   10.0 4.85  0.003  1.05  5 Lower Escabrosa
----------------------------------------------------------------------------
OUH-07     521.0  531.0   10.0 2.35  0.011  0.68  5 Lower Escabrosa
----------------------------------------------------------------------------
OUH-08     259.0  264.0    5.0 1.84  0.001  0.28        5 Escabrosa
----------------------------------------------------------------------------

The intervals were calculated using a 1.0% copper cut-off and may include internal waste to reflect a potential mineable width. True widths of mineralized intercepts completed to date will need to be modelled but are estimated to be 60% to 100% of the stated interval length for Zones 1, 2 and 4. Additional drilling in Zones 5 and 6 will be needed before true thickness can be estimated. Intervals labelled "includes" are higher-grade portions of the previous listed interval.

Oracle Mining employs a rigorous QA/QC protocol on all aspects of sampling and analytical procedure. Drill core is checked, logged, marked for sampling and split in half. One-half of each drill core is maintained for future reference and the other half of each drill core is sent for analysis. Half-core samples are shipped to accredited laboratories contracted to complete all sample preparation and assaying, including Skyline Assayer and Laboratories (Tucson), SGS Minerals Services (Elko/Vancouver) and ALS Chemex Labs Ltd. (Reno/Vancouver). Samples are analyzed employing the appropriate methodology for analyses of copper, as well as fire assaying for silver and gold. For QA/QC purposes, the Corporation inserts one standard sample for every 20 samples of core and one blank sample for every 40 samples of core submitted to the assay laboratories. The Corporation inserts a blank sample for core for any submission with fewer than 40 samples. Oracle Mining periodically submits the pulps of the samples assayed by one laboratory to another independent laboratory for check analysis.

The technical information in this media release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed by Glenn R. Clark, P.Eng., of Glenn R. Clark & Associates Limited, a consultant for Oracle Mining and a Qualified Person under NI 43-101, who is responsible for the technical information reported herein.

About Oracle Mining Corp.

Oracle Mining Corp. (TSX:OMN)(OTCQX:OMCCF)(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 Mine located 24 km northeast of Tucson, Arizona. Oracle Mining is managed by an experienced team of mining professionals with extensive operating and financial experience.

Forward-looking Statement Disclaimer

This document may contain "forward-looking statements" within the meaning of Canadian securities legislation. These forward-looking statements are made as of the date of this document and Oracle Mining does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect management of the Corporation's expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the Corporation's liquidity and balance sheet and future sales of metals or minerals from Oracle Ridge. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of resources; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in the Corporation's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Contacts:
Oracle Mining Corp.
Mr. Alex Langer
VP Capital Markets
604-689-9293 or Toll Free: 1-855-689-9282

Oracle Mining Corp.
Mr. Jason Mercier
Senior VP Corporate Secretary
604-689-9261
[email protected]
www.oracleminingcorp.com

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