Oracle Ridge Copper Mine - Tucson, Arizona

2.17% copper - Production facility construction is expected to begin in the first half of 2012

Message: $9,750,000 - Private Placement Offering
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- Oracle Mining Corp. ("Oracle Mining" or the "Corporation") (TSX:OMN)(OTCQX:OMCCF)(PINKSHEETS:OMCCF)(FRANKFURT:OMC) is pleased to announce that, subject to applicable regulatory approval, it intends to carry out a private placement (the "Private Placement") for up to 7,800,000 common shares (the "Shares") of the Corporation at a subscription price of $1.25 per Share, raising aggregate gross proceeds of up to $9,750,000.

Oracle Mining expects the Private Placement to close as soon as practicable after receipt of final Toronto Stock Exchange (the "TSX") approval. The Corporation intends to use the proceeds of the Private Placement for expenditures related to its Oracle Ridge Copper Mine project near Tucson, Arizona and general corporate purposes.

All securities distributed pursuant to the Private Placement will be subject to a hold period of four months following closing in accordance with applicable Canadian securities laws and such other further restrictions as may apply under foreign securities laws.

In connection with the Private Placement, the Corporation has engaged a finder and has agreed to pay to the finder a cash finder's fee equal to 6% of the gross proceeds raised from the sale of Shares placed by the finder.

This media release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. The Shares will not be offered or sold in the United States or to, or for the account of, United States persons except to accredited investors pursuant to the exemption from the registration requirements contained under the United States Securities Act of 1933, as amended, to deal with the possibility that the Shares may be sold to United States persons.

About Oracle Mining Corp.

Oracle Mining Corp. (TSX:OMN)(OTCQX:OMCCF)(PINKSHEETS:OMCCF)(FRANKFURT:OMC) is a Vancouver, Canada-based corporation with a focus on uncovering overlooked deep-value projects to achieve superior shareholder returns. The Corporation is the sole owner and operator of Oracle Ridge Mining LLC and copper mine located 24 km northeast of Tucson, Arizona. Oracle Mining has minimal long-term debt and is managed by an experienced team of mining professionals with extensive operating and financial experie.


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