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Amparo Decision Handed Down


June 4, 2013

Vancouver, British Columbia (June 4, 2013) further to its news release of October 22, 2012, Oroco Resource Corp. (TSX-V: OCO) (“Oroco” or “the Company”) announces that it has received the decision of the Federal Seventh District Court of Mexico with regard to the joined amparo petitions of the Company (the “MX Amparo”) and Avinadain Bautista, the party who opposed the registration by Mexico’s Public Registry of Mining of the Company’s interest in the Xochipala Concessions (the “Bautista Amparo”).  The MX Amparo was a petition to set aside a Guerrero State Court auction in 2011 (the “Court Auction”) of a 50% interest in the Celia Gene and a 100% interest in the Celia Generosa concessions (the “Camacho Interest”), which two mineral concessions comprise the Xochipala Concessions.  The Court Auction had occurred under the mistaken assumption that the Comacho Interest remained a part of the estate of Carlos Camacho when, in fact, the Company had purchased the Camacho Interest from the Camacho estate in 2007.

The district court dismissed the Bautista Amparo petition to cancel the registration of the Camacho Interest to the Company without addressing its merits on the grounds that such a cancellation cannot be sought by way of an amparo constitutional challenge, but instead must be sought through a civil lawsuit.

The court also denied the MX Amparo to set aside the 2011 Court Auction and the related court-ordered attachment in 2010 of the Camacho Interest.  Despite this decision, the Company and its Mexican legal counsel find no reason to amend the Company’s legal position on this matter and are highly confident of success on appeal.  In the meantime, the court decision leaves matters unchanged and the Company remains as the registered holder of the Xochipala Concessions.

 

For further information, please contact:
Mr. Craig Dalziel, President and CEO
Oroco Resource Corp.
Tel: 604-688-6200

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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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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