Differentiate between oxidation and reduction reaction?

oxidation can be simply defined as:

• The gaining of Oxygen, O, for a given compound or element.
• The loosening of Hydrogen, H, in a compound or element.
• The loosening of electrons, e^-
• The increase in the Oxidation number (negative to positive charge).

Rusting (corrosion) is a good example of an oxidation reaction.

On the other hand, the Reduction can be also defined as:

• The loosening of Oxygen, O. For a given element or compund.
• The acceptance (gain) of Hydrogen, H.
• The gaining of electrons, e^-.
• The decrease in the oxidation number.

An example of Reduction reaction is the Extraction of metals from its ores.