www.orientalminerals.com/s/...ATES-DEFERMENT-OF-VENDOR-PAYMENT
December 01, 2009
ORIENTAL MINERALS NEGOTIATES DEFERMENT OF VENDOR PAYMENT
Vancouver, BC, December 1st, 2009 -- Oriental Minerals Inc. (OTL: TSX-V) (the "Company") is pleased to announce that it has negotiated a deferment of the US$1 million vendor payment obligation on the Sangdong tungsten-molybdenum project in South Korea. The payment due November 30, 2009, has now been deferred to December 18, 2009.
Ian Fodie, Oriental Minerals' President and CEO, said "Once again, the cooperation of Sangdong's vendor, Mr. Sim, will allow us extra time to attract funds required for the vendor payment. We are working diligently to resume trading and secure financing so that we can continue to build shareholder value at the Sangdong project."
About Oriental Minerals
Oriental Minerals is focused on developing world-class mining projects in South Korea. Its flagship Sangdong tungsten-molybdenum project is nearing the completion of a Preliminary Economic Assessment as a further step to revitalizing what was formerly one of the largest tungsten mines in the world.