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Breaking News Release

Oromin Increases Indicated Gold Resources to 3.78 Million Ounces and Inferred Gold Ounces to 0.96 Million Ounces at the OJVG Gold Project

VANCOUVER, BRITISH COLUMBIA--(Oct. 1, 2012) - Oromin Explorations Ltd. (TSX:OLE) (OTCBB:OLEPF) -

Indicated Gold Resources have increased by 1.24 million ounces (49%) since the positive 2010 Feasibility Study, including increases to: 1.93 million Au ounces, 44.97 million tonnes grading 1.34 g/t Au at the Masato Deposit 1.40 million Au ounces, 13.68 million tonnes grading 3.18 g/t Au at the Golouma Deposits 445,000 Au ounces, 16.55 million tonnes grading 0.84 g/t Au at the Heap Leach Deposits This 2012 resource update will form the basis for updating the 2010 Feasibility Study and the 2011 Heap Leach PEA scheduled for completion in Q4 2012

Oromin Explorations Ltd. ("Oromin" or the "Company"), on behalf of Oromin Joint Venture Group Ltd. ("OJVG"), is pleased to announce the results of its 2012 mineral resource update. This mineral resource update will serve as the basis for the upcoming updates to the carbon-in-leach ("CIL") Feasibility Study and Heap Leach Preliminary Economic Assessment ("PEA") scheduled for completion in Q4 2012. The following table summarizes the mineral resources for all of the OJVG Gold Project (the "Project") deposits identified to date. The resource update was prepared by independent consultant SRK Consulting (Canada) Inc. ("SRK") and has an effective date of September 28, 2012.

OJVG MINERAL RESOURCE ESTIMATE Effective Date: SEPTEMBER 28, 2012 � � Resource Tonnage Grade Gold Ounces Deposit Category (000s) g/t Au (000s) Golouma Indicated 13,685 3.18 1,400 Masato Indicated 44,970 1.34 1,933 Sub total Indicated 58,655 1.77 3,333 Heap Leach Indicated 16,551 0.84 445 TOTAL Indicated 75,206 1.56 3,778 � � � � � Golouma Inferred 5,455 3.43 601 Masato Inferred 3,527 1.13 128 Sub total Inferred 8,982 2.52 728 Heap Leach Inferred 8,346 0.87 234 TOTAL Inferred 17,329 1.73 963 The Golouma category includes the Golouma West/South, Kerekounda and Kourouloulou deposits. The Heap Leach category includes the Niakafiri Southeast, Niakafiri Southwest, Maki Medina, Kobokoto, Mamasato, Koulouqwinde, Koutouniokolla, Sekoto, Kinemba and Kouroundi deposits. Tonnage and grades for the open pit portions of all deposits have been constrained by an optimized Whittle pit based on a $1500 per ounce gold price and the proposed mining and processing related costs. Tonnages and grades for the Golouma category deposits assume CIL processing methods and were calculated at gold cut-off grades of 0.32 g/t for sulphide ore and 0.15 g/t for oxide ore. Tonnages and grades for the Heap Leach category deposits assume heap leach processing methods and were calculated at gold cut-off grades of 0.24 g/t for sulphide ore and 0.15 g/t for oxide ore. Underground resources reported below the optimized pits for all of the deposits are reported using a 1.0 g/t cut-off grade. The detailed SRK resource reporting methodology is summarized in a later section of this news release.

Golouma and Masato are grouped together as they jointly form the basis for the 2012 Feasibility Study update. The indicated and inferred resources for the heap leach deposits will form the basis of the 2012 Heap Leach PEA update.

The total indicated resource for the OJVG Gold Project is 75.21 million tonnes grading 1.56 g/t Au containing 3.78 million ounces of gold. There is an additional inferred resource of 17.33 million tonnes grading 1.73 g/t Au containing 0.96 million ounces of gold. There are no measured resources at this time. Details of SRKs mineral resource estimates and methodology are documented later in this release.

The 2012 mineral resource estimate is an update to the May 2011 mineral resource estimate (see Appendix B and the Companys May 12, 2011 News Release) and includes all drilling completed to date on the OJVG Gold Project. Since the 2011 resource update, the projects indicated gold resources have increased by 469,000 ounces while inferred gold resources have increased by 528,000 ounces, increases of 14% and 121%, respectively. Oromin undertook a comprehensive geological interpretation program which included a complete re-modeling of many of the deposits, including the two largest, Masato and Golouma. Based on these efforts, the mineralized domains have been better defined and more tightly constrained based on the additional drilling from 2011. This resulted in improved definition of the various mineralized zones for the 2012 mineral resource estimate. All deposits remain open to further expansion both laterally and at depth.

Chet Idziszek, Oromins President and CEO, stated, "Our continued resource growth, clearly positions the OJVG Project as a leader in the Sabodala Gold District, which hosts one producing gold mine and nearly 10 million ounces of indicated gold resources outlined over the last 4 years by Teranga, Randgold and ourselves. The OJVG projects gold resources and potential now approaches: 4 million ounces of indicated gold resources, nearly 1 million ounces of inferred gold resources and further expansion potential at the current deposits and at newly developed gold targets. As such we are confident that the OJVG Gold Project will play a key role in further establishing the Sabodala Gold District as a world class gold camp. We fully expect the upcoming CIL Feasibility Study and Heap Leach PEA updates to demonstrate the significant value of the OJVG Gold Project, which is not currently reflected in Oromins market value."

Progress Since 2010 Feasibility Study

In 2010 the positive Feasibility Study, based on an $880 gold price and production from only the Golouma and Masato deposits, yielded a probable mineral reserve of 17.52 million tonnes grading 2.52 g/t Au, containing 1.42 million ounces of gold. The 2010 reserve estimate was based on indicated resources of 45.60 million tonnes grading 1.73 g/t Au, containing 2.54 million ounces of gold (see following tables and SRKs mineral resource statement in the Companys July 15, 2010 news release). For comparison, the current 2012 Feasibility Study and reserve update will be based on indicated resources of 58.65 million tonnes grading 1.77 g/t Au, containing 3.33 million ounces of gold. This is an increase for indicated resources of 29% in tonnes, 2% in grade and 31% in gold ounces respectively, from 2010 for the same Golouma and Masato deposits.

OJVG MINERAL RESOURCE ESTIMATE (SRK) AS AT JULY 2010 � � Resource Tonnage Grade Gold Ounces Deposit Category (000s) g/t Au (000s) Golouma Indicated 10,533 3.59 1,218 Masato Indicated 35,062 1.17 1,318 Sub total Indicated 45,595 1.73 2,536 Heap Leach Indicated 0 0.00 0 Total Indicated 45,595 1.73 2,536 � � � � � Golouma Inferred 1,116 4.15 149 Masato Inferred 2,389 1.21 94 Sub total Inferred 3,505 2.15 243 Heap Leach Inferred 7,486 0.89 212 Total Inferred 10,991 1.28 455 The Golouma resource includes the Golouma West/South, Kerekounda and Kourouloulou deposits. The Heap Leach category includes the Niakafiri Southeast, Niakafiri Southwest, and Maki Medina deposits. All tonnages and grades were calculated at cut off grades of 0.40 g/t Au for open pit resources and constrained by an optimized Whittle pit based on a $1200 per ounce gold price. Underground resources reported below the optimized pit were reported using a 1.0 g/t cut off grade. The detailed SRK resource reporting methodology for the 2010 mineral resource estimate is summarized in the Companys news release dated July 15, 2010. The reader is cautioned that references to the 2010 Feasibility Study and 2010 mineral resource estimate are for comparison purposes only and although the Company feels the 2010 Feasibility is relevant, it is no longer current due to out of date economic parameters and subsequent mineral resource updates to the resource base used for the 2010 study. � OJVG MINERAL RESERVE ESTIMATE (SRK) AS AT JULY 2010 � Deposit Reserve Tonnage Grade Gold Ounces Group Category (000s) g/t Au (000s) Golouma Probable 7,364 4.06 960 Masato Probable 10,154 1.41 460 Total Probable 17,517 2.52 1,420 The Golouma reserves include the Golouma West/South, Kerekounda, and Kourouloulou deposits. Reserve grades and tonnages were established in the Companys 2010 Feasibility Study based on an $880 per ounce gold price. Results of the 2010 Feasibility Study completed by SRK are summarized in the Companys news release dated July 15, 2010. The reader is cautioned that references to the 2010 Feasibility Study and 2010 mineral resource estimate are for comparison purposes only and although the Company feels the 2010 Feasibility is relevant, it is no longer current due to out of date economic parameters and subsequent mineral resource updates to the resource base used for the 2010 study.

Oromin anticipates that the increased indicated resource tonnes, grade and gold ounces, to be evaluated in the 2012 Feasibility Study update, will have a positive impact on mineral reserves, mine life and overall project value. Furthermore, the increase in both indicated and inferred mineral resources for the heap leach deposits will also have a favourable impact on the Heap Leach PEA update with respect to the additional value and flexibility a heap leach operation can add to the Project.

Project Summary

The OJVG mineral deposits have been categorized into three groupings: (A) Golouma - three large, closely clustered and high grade deposits; (B) Masato - the largest single deposit; and (C) 10 widely distributed Heap Leach deposits. Of these, the Golouma and Masato deposits will form the basis of the CIL Feasibility Study update and the heap leach deposits will form the basis for the Heap Leach PEA update - all scheduled for completion in Q4 2012. The attached plan map sets out deposit locations within the OJVG Gold Project.

The Golouma deposits are comprised of three proximal deposits - Golouma, Kerekounda and Kourouloulou - clustered within a 1 km radius of each other and are the highest grade deposits within the property. They collectively contain 1.40 million ounces of gold in the indicated category, 13.68 million tonnes grading 3.18 g/t gold and 0.60 million ounces of gold in the inferred category, 5.45 million tonnes grading 3.43 g/t gold. The 2012 indicated resource for the Golouma deposits represents a 15% increase in gold ounces, a 30% increase in the indicated tonnes and an 11% decrease in grade respectively, over that utilized for the 2010 Feasibility Study.

Masato is currently the largest single deposit on the property. It contains resources of 1.93 million ounces of gold in the indicated category, 44.97 million tonnes grading 1.34 g/t gold and 128,000 ounces of gold in the inferred category, 3.53 million tonnes grading 1.13 g/t gold. This represents a 47% increase in the indicated resource ounces, a 28% increase in the indicated tonnes and a 14% increase in grade respectively, over that utilized in the 2010 Feasibility Study. Masato has the added benefit of containing a substantial indicated oxide resource in excess of 340,000 ounces, (8.88 million tonnes grading 1.20 g/t Au at a 0.15 g/t Au cut-off grade) which makes it a very valuable deposit for operational flexibility and blending options for the proposed CIL operation.

The heap leach deposits consist of 10 widely-distributed deposits containing 445,000 ounces of gold in the indicated category - comprising 16.55 million tonnes grading 0.84 g/t gold - and 234,400 ounces of gold in the inferred category, comprising 8.35 million tonnes grading 0.87 g/t gold. These deposits contain a high percentage of oxide resources and, as such, provide further operational flexibility as either heap leach feed or additional mill feed for the proposed CIL plant. The heap leach deposits will form the basis of a 2012 update to the positive 2011 Heap Leach PEA which identified mineable heap leach material consisting of 319,400 ounces of gold, 14.30 million tonnes grading 0.69 g/t gold (see Companys May 5, 2011 News Release).

Please refer to Appendix A for a summary of