Orestone Mining Corporation announced the intercept of a significant intersection of over 400 meters of strong potassic sericite carbonate alteration that includes significant intervals of fine grained pyrite and chalcopyrite in hole DDHC2012-01 at its Captain porphyry copper and gold project.

The 100% owned Captain project is located 43 kilometers north of Fort St. James, British Columbia and approximately 30 kilometers south of the Mt Milligan copper and gold deposit. The Mt. Milligan copper and gold deposit has proven and probable reserves of 482 MT grading 0.20% copper and 0.39 gram per tonne gold outlined and is currently being developed by Thompson Creek Metals Company Inc as a large open pit mine.

Diamond drill hole DDHC12-01 was collared between holes DDHC11-01 and DDHC11-02 which are located approximately 400 meters to the east and west respectively targeting a large copper and gold porphyry system. The drilling intersected over 400 meters of fine grained chalcopyrite pyrite mineralization, primarily disseminated and zones including coarse grained and fracture controlled sulphides, associated with intensely potassic sericite carbonate altered volcanic rocks. These altered volcanic rocks begin below 54 metres of overburden and continue throughout the hole to the 499.27 metre final depth. The amount of chalcopyrite in this hole shows a significant increase compared to hole C11-01.

The hole C11-01 intersected the same suite of alteration from 60 meters to 255.3 meters which contained 5% to 15 % pyrite and trace to minor chalcopyrite from 127 meters to 216 meters. Assays have been received for this hole and indicate an intercept of 87 meters from 127 meters to 216 meters grading 0.230 gram per tonne gold and 268 ppm copper including 43 meters from 127 meters to 172 meters grading 0.298 gram per tonne gold and 873 ppm copper.

Initial visual estimates of the chalcopyrite content indicate a significant increase in drill hole C12-01 compared to hole 11-01 and interpreted to be related to its position 400 meters closer to the monzonite intrusive intersected in hole C11-02. Assays of drill holes C11-02 and C12-01 will be released when received.

The principal IP chargeability anomaly in the central portion of the survey area measures 1,000 meters by more than 4,000 meters and corresponds with a resistivity high. This coincident chargeability and resistivity high area is located on the eastern flank of a magnetic high interpreted to be a magnetite bearing intrusive measuring 1,000 to 2,000 meters wide and in excess of 5 kilometers in strike length.

This geophysical signature covering the central chargeability and resistivity high target on the Captain Project is similar in nature to the MBX copper and gold deposit at Mt Milligan. Within the survey area there are three separate IP chargeability anomalies that are flanked by magnetic high anomalies having widths of 1,000 meters or more that have yet to be fully outlined. The Company has 30 drill sites approved on the Captain Project by the BC Ministry of Energy and Mines.