The O.T. Mining
Corporation
Press Release
Montreal, October 18, 2007 Pink
Sheets: OTMN
Update on The O.T. Mining
Corporation
In spite of this
summer's drill program delay, The O.T. Mining Corporation ("O.T.") continues
to
move forward adding to its value. Its Montana technical team has had the time to
refine the project data, select drill targets from the 18 new drill site permits
issued by The USFS (United States Forest Service) in May and begin to prepare
the drill sites. O.T.'s dedicated
team is eagerly awaiting the 2008 drill season and its Project Manager has
issued tenders for two drills to begin work as soon as weather permits.
The 2007 summer
drill program was delayed for two reasons.
First, the
traditional financing sources began moving away from early stage development
exploration companies, the O.T.'s category, in late 2006 and remain absent from
the scene at this writing. During
this period we have had contact with a number of qualified, serious groups that
for one reason or another were unable to provide the required funding. There was and still is opportunist money
available, however, the terms would dilute the shareholders unmercifully and
the
accompanying conditions could alter the course of the company's stated mission.
Second, Mother
Nature did not smile kindly on O.T. this drill season. Due to a severe lack of rain and ongoing forest fires
in
O.T.'s area of Montana, the USFS placed the Deer Lodge Forest under "stage two
fire alert" when access to the forest is permitted only between 1 a.m. and 1
p.m. To secure a drill and crew,
the O.T. would have had to sign a contract for a guaranteed minimum of 12,500
feet of drilling for the season. With the USFS stage two (known as Hoot
Owl hours) restrictions in force from mid June to early September, the minimum
guarantee would never have been met and we would have had to pay for it
nonetheless.
O.T.'s goal is to
prove that its North Anomaly mineralized system has the potential to rival or
surpass that of the Butte Mining District, also known as "The Richest Hill on
Earth", its neighbor and model 14 miles to the south. Butte is
the second largest mining district in the world, second only to
South Africa's Witwatersrand. Butte is approaching $400 billion in metals
production since 1880 with estimates of a similar amount yet to be discovered.
The system is open to depth. "The Richest Hill" has produced ore to
depths of 5,500 feet. Drill results to a depth of 8,500 show continuance of the
Butte
mineralized structure.
O.T. provides the
shareholders with considerable leverage through its control of the huge economic
potential of the Ruby's North Anomaly copper, molybdenum porphyry structure
discovery in 2005 and the fact that O.T. has only 10,914,736 shares issued and
outstanding, fully diluted, 12,880,638.
O.T. continues to
seek out private investors for capital on a win/win basis. Every lead is followed up, no stone is
left unturned. In addition, O.T.
fortunately has other financing options available to it. One way or another, Mother Nature
permitting, O.T. intends to drill in 2008.
For further information contact:
James W. Hess,
President
4333
Ste. Catherine St. West, Suite #610
Montreal, Quebec, H3Z 1P9 Canada
Tel: (514) 935-2445 Fax: (514)
935-8161
E-mail: info@otmining.com Web site: www.otmining.com
Disclaimer: This press
release contains forward-looking statements regarding the Company, within the
meaning of Section 27A of the Securities Act and Section 21E of the Exchange
Act, including statements regarding the anticipated timing, process and scope
of
further exploration and drilling activities. These statements are based on
assumptions that the Company believes are reasonable but that are subject to
uncertainties and business risks.
Actual results relating to any and all of these subjects may differ
materially from those presented.
Factors that could cause results to differ materially include economic
and political events affecting supply of and demand for base and precious
metals, fluctuations in commodity prices, negative results of environmental or
technical studies, negative results of further exploration, drilling programs,
problems or delays in or objections to the permitting process, failure or delay
of third parties to provide services, changes in the attitude of state and local
officials toward the Ruby Project and other factors. Additional information is available at
the Company's website at www.otmining.com.
 
