ORE Orogen

TIDMORE

RNS Number : 2008F

Orogen Gold PLC

13 June 2012

Orogen Gold Plc

('Orogen' or 'The Company')

Completion of 55% earn-in

Orogen Gold Plc (AIM:ORE), the AIM listed mineral exploration company focussed on Gold exploration and development in Europe announces that the Company has completed the 55% earn-in to the Deli Jovan Gold exploration project in Serbia, in accordance with its agreement with Reservoir Minerals Inc. (TSX:RSV).

The 55% earn-in has been achieved following completion of Orogen's commitment to a total exploration spend of C$1.5 million on the Deli Jovan Gold exploration project. Orogen is now entering phase II of the earn-in agreement with Reservoir Minerals Inc. This involves a further exploration spend of C$2million by Orogen before the end December 2013 to reach a 75% interest in the Deli Jovan project.

The Company recently announced the commencement of a 7,500m diamond drilling campaign at Deli Jovan and is continuing the exploration programme which is running to schedule and on budget.

Chief Executive of Orogen Gold Plc, Ed Slowey, commented:

"The Board is very pleased to have reached the important 55% earn-in milestone at Deli Jovan. We look forward to reporting at the earliest opportunity on the results of the diamond drilling campaign now underway."

 
 Orogen Gold Plc 
  Ed Slowey, CEO 
  Alan Mooney, FD                 +353 1662 8395 
 Zeus Capital Limited 
  Nominated Adviser and Joint 
  Broker 
  Ross Andrews/Tom Rowley         +44 (0)161 831 1512 
                                ---------------------- 
 XCAP Securities Plc 
  Joint Broker 
  Jon Belliss                     +44 (0) 207 101 7070 
                                ---------------------- 
 Newgate Threadneedle 
  Financial PR 
  Guy McDougall/Josh Royston/ 
  Terry Garrett                   +44 (0) 207 653 9850 
                                ---------------------- 
 

Notes to Editors

The Deli Jovan gold project is in eastern Serbia, the site comprising two shallow underground Gold mines at Rusman and Gindusa, about 6 kilometres apart along a major shear zone. Production at the mines was halted in the 1930s before the commencement of the Second World War, and was never restarted. The mines lay untouched for over 70 years until Orogen Gold reopened access, dewatered and restarted exploration at Deli Jovan in 2011.

This information is provided by RNS

The company news service from the London Stock Exchange

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