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23.04.2008
Oromonte acts on ecuador government news


Oromonte acts on ecuador government news

Nelson, B.C., April 22, 2008: Oromonte Resources Inc. (ORR:TSX-V; OF6:FRA) announces that the mining policy pronouncements issued in an April 18th Constituent Mandate (the “Mandate”) by the Constitutional Assembly and the Government of Ecuador could have an adverse affect on the Company’s exploration properties in Ecuador, if and when the Mandate is in fact fully implemented. Oromonte is monitoring the situation closely and will report any specific material impacts and facts when they become known.

Recent Ecuador News

Ecuador’s Constitutional Assembly passed a Constituent Mandate resolution pertaining to mining that, although it is not part of the proposed New Constitution, has the effect of a law. Even so, it is important to note that the current constitution is still in force and that its property rights guarantees, as well as those contained in international treaties, may have precedence over the Mandate or provide remedies for losses suffered.

Most of the Mandate’s provisions require further government implementation measures, but Article 6 declares an immediate moratorium “on the issuance of new concessions and other mining rights until the new rights contemplated in the Mining Law” goes into effect sometime within the next 180 days. It would appear that most mining exploration activities are now declared suspended by Article 8 of the Mandate. Environmental studies and environmental processes that are underway may be excluded from the suspension. In any event, it would seem likely that Oromonte can now expect further delays in its environmental studies and permit applications in progress. None of the Company’s mining concessions for which it has paid the 2008 annual patents have been cancelled, but the Mandate appears to require the renegotiation of concessions when the new mining laws are brought into effect.

Oromonte recently took action to mitigate its risks in Ecuador by reducing the Company’s holdings in the country to its most promising properties and anomalous areas, funding its operations on an as-needed basis, and cutting staff and exploration expenditures until there is a more stable mining environment. The Company has also begun to acquire prospective exploration properties within North America.

Background

The Government of President Rafael Correa was elected in November 2006 with the commitment to change the country’s constitution along with a number of its laws including those pertaining to taxation, the environment and mining. A Constitutional Assembly was elected in September 2007 and began the process. The new Constitution is scheduled to be ready for public debate in the summer of 2008 and ratified in the fall.

Ecuador has not had a modern mining industry despite its vast mineral wealth and potential. There have been no large modern mines developed in Ecuador to date. This lack of experience and informed knowledge about today’s responsible modern mining industry continues to influence the domestic debate that has engaged the Constitutional Assembly, the Government and the general population. Thus mixed messages for and against government policy support for the international mining industry have come from the Government over the past year and continue to this day.

About Oromonte

Oromonte Resources Inc. is a mineral exploration company engaged in the acquisition, development and exploration of mining properties. The Company has acquired 100% owned mining concessions consisting of four consolidated properties in Ecuador, namely: Chimbuza Property, Marissa Property, Pangui Property, and Virgen del Cisne Property. The related projects are in early stage development with environmental studies and/or exploration programs currently being implemented to identify drilling targets to the extent permitted within the environmental permit processes. The Company has also begun acquiring mining property interests outside Ecuador. The Company trades common shares and warrants on the TSX Venture Exchange under the symbol ORR and common shares on the Frankfurt Stock Exchange under the symbol OF6.

For further information you can visit the Company's website at: www.oromonteresourcesinc.com.

Cautionary Statement:

The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy or accuracy of this release.

No stock exchange, securities commission or other regulatory authority has approved nor disapproved the information contained herein. The News Release includes certain "forward looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Oromonte, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Oromonte's expectations are exploration risks detailed from time to time in the filings made by Oromonte with securities regulations.

For further information:

Bruce Cottingham, CEO
Oromonte Resources Inc.,
Suite 206, 507 Baker Street
Nelson, British Columbia
Canada V1L 4J2
Tel: (250) 352-9923
Fax: (250) 352-9926