Oban Mining Corporation (the "Corporation") is pleased to announce that it has commenced exploration drilling on its 100% owned Heva, Malartic, and Marban properties situated in Cadillac, Malartic, Fourniere, Vassan and Dubuisson Townships, northeast of the town of Malartic, Quebec. The drill program is designed to test new targets outside of the existing Marban, Kierens and Norlartic deposit resource areas.
The initial program will consist of over 5,000 metres and includes 7 holes on the Heva property along the Norbenite shear zone, and 15 holes on the Malartic property to investigate a regional fold hinge. Drilling will also be conducted between the Marban and Norlartic deposits to verify the continuity of the "Stellar Zone" (19.21 g/t Au over 5.6 metres, NioGold press release dated August 15, 2012).
About Oban Mining Corporation
The Corporation is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. The Corporation holds a 100% in the high-grade Windfall Lake gold deposit located between Val-d'Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100% interest in the Marban project located in the heart of Québec's prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario. The Corporation is well financed with approximately $74 million in cash, cash equivalents and marketable securities.