Omineca Closes $379,000 Financing

Omineca Closes $379,000 Financing

Cranbrook, British Columbia CANADA, December 16, 2011 /FSC/ - Omineca Mining and Metals Ltd. (OMM - TSX Venture), has closed (subject to TSX-V approval) a brokered and non-brokered public offering as originally announced on December 12th, 2011. The financing was offered to arms-length and non-arms length investors and was comprised of 2,107,094 flow-through units for gross proceeds of CDN $379,277.

Units were priced at $.18 CDN per unit. Each unit will consist of a flow-through common share and one-half non-flow-through common share purchase warrant, each whole warrant exercisable at $.30 CDN for a 24 month period.

The common share purchase warrants are subject to an accelerated expiry if the published closing trade price of the common shares on the TSX Venture Exchange is greater than or equal to $.60 for any 10 consecutive trading days, in which event the holder will be given notice that the warrants will expire 30 days following the date of such notice. The common share purchase warrants may be exercised by the holder during the 30 day period between the notice and the expiration of the common share purchase warrants.

Proceeds from the sale of the units will be used to finance exploration of projects in British Columbia and Yukon and will qualify as Canadian exploration expenses as defined in the Income Tax Act and will be renounced for the 2011 taxation year.

A 7% commission or finders fee may be paid to registered dealers or arms-length third parties involved in the financing.


About Omineca Mining and Metals

Omineca Mining and Metals was created by way of a Plan of Arrangement on May 20th, 2011. Shareholders of Copper Canyon Resources Ltd. approved the plan to reorganize the Company's mineral property assets in an effort to maximize shareholder value. Under the terms of the arrangement, two of Copper Canyon's projects, Abo (Harrison) Gold and Kiwi, were transferred into Omineca on a one-for-four share basis.


On behalf of the Board of Directors

Signed

"Tim J. Termuende"
President and CEO


For further information, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.ominecamining.com/


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.


To view this release as a webpage, please click the following link:
http://www.usetdas.com/pr/omineca12162011.htm  



Source: Omineca Mining & Metals Ltd. (TSXV OMM) www.ominecamining.com
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