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UPDATE FOR THE WEEK OF July 4, 2022

News Release: Issued July 5, 2022

Oroco Resumes Drilling at Santo Tomas

VANCOUVER, Canada – Oroco Resource Corp. (TSX-V: OCO;  OTC: ORRCF) (“Oroco” or “the Company”) is pleased to announce that it has resumed its drilling operations at Santo Tomas as the Federal military operations in the area have ended.  Drilling commenced overnight at Brasiles with the resumption of Hole B007, and in the North Zone with the continuation of Hole N020.

“A safe and orderly return to drilling has been undertaken and we look forward to increasing our productivity with the additional drill capacity that is being planned” stated Richard Lock, Oroco’s CEO.

Core logging and assaying have continued during the period of drill stoppage, with an improvement in methods of handling and analysis, thereby better preparing the geological team for an increase in the rate of core processing.

In addition, Oroco has started work with Ausenco to prepare a 43-101 Preliminary Economic Assessment (PEA).  Initial work on metallurgical testing is underway with samples being selected for shipment to the lab.  It is planned for the PEA to be completed in Q1 2023.

@Orococorp - July 6, 2022

Field Activity Update

 

@Orococorp - July 7, 2022

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These historical resource estimate models are based upon historical resource estimates prepared by John Thornton in 2011. While, in the opinion of Dane A. Bridge, author of the revised NI 43-101 standard technical report, Geology, Mineralization and Exploration of the Santo Tomas Cu-(Mo-Au-Ag) Porphyry Deposit, Sinaloa, Mexico dated April 21, 2020 (the “Report”), reliable estimation practices were used, in order to upgrade or verify the historical estimations, resampling and assay of historical drill samples, twinning of historical drill holes, and a new program of regularly spaced drilling is required. No qualified person has undertaken sufficient work to classify the current mineral resources or mineral reserves upon which these models are based and the Company is not treating the estimates as current estimates of the mineral resources. The Company gives no assurance that either these models or the historical resource estimates upon which they are based are accurate, and does not undertake any obligation to update the models or to release publicly any update or revisions of the resource estimates except as required by applicable securities law. The reader is cautioned not to rely upon these models or the historical resource estimates upon which they are based.

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