News Releases

News Release

November 12, 2009

TSX-V: ORS November 12, 2009 - Orestone Mining Corp. (the “Company”) is pleased to announce that it has entered into an arm’s length letter agreement (the “Letter Agreement”) dated November 10, 2009 with Kootenay Gold Inc. (“Kootenay”), a publicly trading company on the TSX Venture Exchange (TSX-V:KTN), for the acquisition of an option to earn 60% of Kootenay’s 100% interest in the Connor Creek gold property in the Nelson Mining Division, southeastern British Columbia.

Pursuant to the Letter Agreement, Orestone may earn 60% of Kootenay’s 100% interest in the Connor Creek Property by: (i) expending $1,000,000 on the Property prior to November 10, 2013 including $150,000 in exploration costs by November 10, 2010; and (ii) delivering to Kootenay an aggregate 750,000 shares of Orestone by November 10, 2013 including 150,000 shares on acceptance of the Letter Agreement by the TSX Venture Exchange. Upon making the foregoing expenditures and share payments, Orestone will have earned an undivided 60% interest in the Connor Creek Property.

The Connor Creek Property covering 2270.1 hectares is located 18 km southwest of the town of Nelson in southeastern British Columbia. Recent logging roads have provided access to most of the claim area and exposed new zones of gold mineralization. Metasedimentary rocks on the property have been intruded by Middle Jurassic intrusions correlated with the Nelson Plutonic Suite. Many of the vein camps and skarn deposits in southeastern B.C. are within or along the margins of Nelson Plutonic intrusions including the historic gold-producing veins at Rossland, 40 km southwest.

Gold-bearing shear zones, massive sulphide gold-copper veins, polymetallic veins and skarn occur on the property. The massive sulphide veins are similar in many respects to the veins that host the copper-gold deposits of the historic Rossland Camp. Although hillsides are steep, little outcrop has been found away from roads and some creeks. A soil geochemical survey over about one quarter the property has located several unexplained zones of strongly anomalous values for gold (up to 1554 ppb) and other metals. These zones measure up to1500 metres long and 500 metres wide. Drilling in 2007 of newly discovered gold-bearing shears at the CC Gold Zone at the north end of a 550 metre long gold soil anomaly returned the following drill intercepts:

Hole #9 16.2 g/t Au over 0.80 m. Hole #10 4.75 g/t Au over 3.0 m and 
3.29 g/t Au over 1.76 m and 
1.09 g/t Au over 4.0 m

Initial exploration by Orestone will be to evaluate by diamond drilling the continuity and grade of the CC Gold Zone.

The Letter Agreement is subject to acceptance by the TSX Venture Exchange.

About Orestone
Orestone has been exploring three large claim blocks in northern B.C. within Quesnel Terrane, which extends from the US border to northern B.C. Quesnel Terrane hosts numerous mines and many developing bulk tonnage Cu-Au prospects such as those on the Mt. Milligan and Kwanika properties in north-central B.C., as well as sediment-hosted gold mineralization on the Spanish Mountain and Frasergold properties in south-central B.C. The Connor Creek Property is another prospective gold property lying within Quesnel Terrane. For further information contact Gordon Richards, the President of Orestone, at (604) 940-6466 or Jim Mitchell, a director of Orestone, at 1-604-796-9418.

ON BEHALF OF THE BOARD OF DIRECTORS OF ORESTONE MINING CORP.

Gordon Richards
 
President 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release. This news release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.


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